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10 things you need to know before the opening bell

Jul 16, 2018, 16:10 IST

A giant picture of France's Antoine Griezmann is seen on the Arc de Triomphe as France fans celebrate on the Champs-Elysees Avenue after France won the Soccer World Cup final.Reuters/Charles Platiau

Here is what you need to know.

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Trump meets Putin. President Donald Trump and Russian President Vladimir Putin meet in Helsinki, Finland on Monday with no clear specific goals, the Associated Press says.

China's economy slows down. The Chinese economy grew at a 6.7% year-over-year rate in the second quarter, making for its weakest annual growth since Q3 2016, data released Monday by the National Bureau of Statistics showed.

Morgan Stanley says a dreaded recession indicator is coming within the next year. The bank says a yield curve inversion - something that has preceded every recession since the 1960s - will occur by mid-2019 and has a game plan to help investors get ready.

Hackers have stolen nearly $1 billion from cryptocurrency exchanges in 2018. A Wall Street Journal report has found that more than $800 million worth of crypto has been stolen from exchanges this year.

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Goldman Sachs will reportedly name David Solomon its next CEO as early as Monday. The announcement, which has been months in the making, is expected to be made this week, the New York Times reports.

Deutsche Bank says its going to post earnings way above expectations. The German bank says it expects a net profit of 400 million euros ($467 million) for the April to June period, well ahead of the 159 million euro profit that is expected.

Amazon Prime Day kicks off. Amazon's biggest sales event of the year starts at 3 p.m. ET and continues through Tuesday.

Stock markets around the world are mixed. China's Shanghai Composite (-0.61%) lagged in Asia and Germany's DAX (+0.14%) is out front in Europe. The S&P 500 is set to open little changed near 2,803.

Earnings reporting picks up a bit. Bank of America and BlackRock report ahead of the opening bell while Netflix releases its quarterly results after markets close.

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US economic data keeps coming. Empire Manufacturing and retail sales both cross the wires at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.84%.

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