📆 Monday, July 15
► European stocks edged (Stoxx 600; -0.15%), led by significant declines in luxury stocks like Burberry Group, which slumped 8% after suspending its dividend. Weak economic growth figures from China further dragged down mining stocks. Additionally, Swatch Group experienced a notable dip after sales and profit plunged amid a China-led slowdown for Swiss watchmakers and other luxury companies.
► In the US, the USD strengthened and treasuries fell as investors increased bets on Donald Trump’s potential return to the White House following an attempted assassination. Trump was released from the hospital after being rushed off stage by the Secret Service at a rally in Pennsylvania, where shots fired grazed his ear last Sunday. US futures indicated a higher open on Wall Street, with S&P 500 futures trading 0.4% higher. Markets are closely monitoring Fed Chair Jerome Powell's upcoming speech (UTC+0 16:30) and additional economic reports this week for further guidance.
► Asian equities had a mixed performance. In China, stocks in Hong Kong extended losses due to weak Q2 economic data, with GDP growth falling short of expectations at 4.7%. However, industrial production exceeded forecasts with a 5.3% increase. The Shanghai Composite rose slightly by 0.1%. In Japan, markets were closed, but the JPY remained stable around 158/USD. Investors are anticipating the BOJ’s policy meeting later this month.
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