Here's what you need to know before
1. Eurozone GDP shrinks at the fastest rate in history, losing 12.1% in the second quarter. Spain was hardest-hit by the pandemic in Europe, suffering an 18.5% decline compared to the previous quarter.
2. French GDP also dropped at a record pace, contracting 14% in the second quarter — the latest European economy to reveal its pandemic pain. The figures reflect the painful economic state that the COVID-19 outbreak left France in.
3. British bank NatWest swings to a 2nd-quarter loss of $1.7 billion as income tumbles and impairment charges soar. CEO Alison Rose said the pandemic "significantly impacted" the bank's first-half performance.
4. TikTok owner ByteDance may reportedly scrap plans for a blockbuster global IPO and just list its Chinese business at home instead. The tech giant was initially planning to IPO in New York or Hong Kong.
5. The creator of the first pure-play space ETF told us 3 reasons why now is the perfect time to invest in the arena — including his bet on companies already raking in revenues from there. The same force that supercharged blockchain, cloud computing, and other major technologies will drive the space-investing boom, says Andrew Chanin.
6. 200-plus money managers pay thousands to set eyes on Jim Osman's stock buy list. Here are 2 he says are set to soar — and an under-the-radar IPO to keep a watch on. Osman shared three companies he's betting on — including a Peloton competitor that could go public this year.
7. Portfolio manager Jason Tauber is outstripping the market's returns in 2020. He says these 3 high-growth companies have 'hidden assets' that could make them far more valuable than most investors believe. Tauber's disrupters are big winners in 2020, and he aims to keep it that way by finding companies with promising but overlooked businesses.
8. Global stocks are mixed. In Europe, Germany's DAX rose 0.5%, Britain's FTSE 100 was about flat and the Euro Stoxx 50 rose 0.5%. In Asia, China's Shanghai Composite rose 0.7%, Hong Kong's Hang Seng fell 0.4%, and Japan's Nikkei fell 2.8% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the US Tech 100 rose 0.8%.
9. Earnings expected. Merck, ExxonMobil, AbbVie, Dominion Energy, Colgate-Palmolive, and Fiat Chrysler are highlights.
10. On the economic front. Data on US personal income and spending is due.