China’s economic growth rate moderated to 5.2% in the second quarter, a slight decrease from the 5.4% recorded in the first quarter.
In other economic news, a Moody’s economist has indicated that the housing market is signaling a notable warning for the U.S. economy. Concurrently, America’s leading rare-earth producer is making efforts to challenge China’s established dominance in the sector.
On the geopolitical front, reports suggest that Donald Trump inquired of Volodymyr Zelensky whether Ukraine could conduct strikes within Moscow.
Regarding market performance, Bespoke Investment Group highlighted a chart showing that eight major companies scheduled to report earnings this week experienced underperformance compared to the S&P 500 last week. This trend suggests investors may have taken profits after a strong three-month rally in their shares.The analysis notes this could be a positive sign, indicating a degree of investor caution ahead of earnings reports, as most of these stocks have performed well recently. The data also indicated that nine out of twelve tracked stocks finished the week in overbought territory.
The most actively traded tickers on marketwatch as of 6 a.m. included Nvidia (NVDA), Tesla (TSLA), Palantir technologies (PLTR), GameStop (GME), Advanced Micro Devices (AMD), NIO (NIO), Apple (AAPL), Taiwan Semiconductor Manufacturing (TSM), Amazon (AMZN), and Meta (META).
In lighter news, an 80-year-old individual has become the oldest person to complete a Death Valley race. Additionally, business is reportedly thriving for Etsy witches, and a census is underway to count swans.
