Monday's Market Minute: Three Things To Watch This Morning

We begin the week with a surprise rate cut from the PBOC after disappointing economic data showed China's economy continues to struggle. Retail sales data for the month of July showed an increase of 2.7% Y/Y vs expectations for an increase of 5%, and below June’s reading of 3.1%. Crude oil is sharply lower this morning into the open with the weaker-than-expected data. Also keep an eye on U.S./China relations as another U.S.-led delegation travels to Taiwan. 

We have a handful of companies reporting quarterly results this week; we’ll hear from some retailers like Walmart WMT, Target TGT, Home Depot HD, and Kohl’s KSS, to name a few. Friday’s better-than-expected consumer sentiment data suggests inflationary pressure easing over the last few weeks has helped boost confidence. Investors are hopeful that we’ll see a reflection of that in some of the consumer spending habits and some strong numbers from the big retailers.

Lastly, a busy week in terms of economic data, with the focus on housing numbers, the Fed minutes due out Wednesday, and a handful of Fed speakers that could move markets.

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