What is it? There are 3 versions of GDP released a month apart – Preliminary, Second Estimate, and Final. The Preliminary release is the earliest and thus tends to have the most impact. It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? At 4:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.

 

 

 

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1) The dollar extended losses against a basket of other major currencies on Monday, despite positive U.S. data on durable goods orders, as sentiment on the greenback remained under pressure ahead of this week's policy statement by the Federal Reserve.

2) Wall Street began the week in the red on Monday and fell sharply on concerns about China's slowing growth in the wake of the biggest drop in Shanghai shares in eight years.

The Dow Jones industrial average fell to its lowest level in over five months while the Nasdaq composite was at a four-week low and the S&P 500 touched its lowest in more than two weeks.

3) U.S. natural gas prices turned higher after falling to a two-week low on Monday, as market players assessed the outlook for U.S. demand and supply levels.

4) Chinese shares slid more than 8 percent on Monday as an unprecedented government rescue plan to prop up valuations ran out of steam, throwing Beijing's efforts to stave off a deeper crash into doubt.

Major indexes suffered their largest one-day drop since 2007, shattering three weeks of relative calm in China's volatile stock markets since Beijing unleashed a barrage of support measures to arrest a slump that started in mid-June.

5) Teva Pharmaceutical Industries (ARCA:TEVA) has agreed to buy Allergan (NYSE:AGN_pa) Plc's generic drugs business for $40.5 billion in a cash and stock deal that will turn the Israeli company into one of the world's largest pharmaceutical firms.

 

 

 

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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

Another savage drop for China stocks is spreading plenty of investor anxiety on Monday.

The Shanghai Composite closed down 8.5%, leading a sea of red across markets in Asia and Europe. U.S. stock futures were lower in early trading.


1) China rout

Fears of a bigger crash in China stock markets are rising after Monday's plunge, a return of wild trading following two weeks of relative calm.

Beijing took a series of steps to stop a market rout in late June and early July - including cutting interest rates and suspending new IPOs - which appeared to be working, until Monday.

But fear has once again gripped investors in China.

"The extent of the sharp drop would appear to suggest that the Chinese economy is struggling to respond to the measures already implemented, raising wider concerns of a much sharper and deeper slowdown," said CMC markets analyst Michael Hewson.

The concern is that trouble in China -- the world's second largest economy -- will pull other major economies, like the U.S. down with it.


2) Commodities sell-off

Base metal prices were sharply lower, with copper and zinc both slumping by more than 2%. Oil extended its recent slide, shedding 0.6% to just below $48 a barrel, in electronic trading.

Falling commodity prices are a worrying signal about the global growth outlook. After years of insatiable appetite for raw materials, China's slowdown is playing a huge role in the demand picture. 


3) Earnings & economics

Restaurant Brands International (QSR), which owns Burger King and Tim Hortons, is among the firms reporting ahead of the open.

This afternoon, another round of companies including Rent-A-Center (RCII), will report quarterly earnings.

On the economic front, the U.S. Census Bureau reports June durable goods orders at 8:30 a.m. ET. Orders were down in May mainly due to a drop in aircraft purchases, though other manufactured good sold well. 


4) International markets

Jitters in China washed over to European markets in early moves.

Germany's DAX index dropped 1% despite an upbeat report on business sentiment. France's CAC index also shed 1%. The Greek stock market stayed shut as regulators try to figure out how to resume trading while financial transactions remain limited due to the country's debt crisis.

Asian markets ended deep in the red.

China's tech-heavy Shenzhen index plunged 7% and Hong Kong's Hang Seng index tumbled 3.1%. Japan's Nikkei index closed down 1%.

 

 

 

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What is it? Orders for aircraft are volatile and can severely distort the underlying trend. The Core data is therefore thought to be a better gauge of purchase order trends. It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

  

 

 

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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Survey of about 7,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months.

When? At 4:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the EUR to rise.

 

 

 

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- Wall Street was set to open slightly lower on Friday with major indexes poised to end the week lower amid a mixed bag of earnings from big companies and the downward spiral of commodity prices.

Amazon.com (O:AMZN) shares jumped 21.5 percent to $585.64 in premarket trading, a day after the online retailer posted an unexpected quarterly profit.

- The dollar remain higher against a basket of other major currencies on Friday, as data showing that U.S. jobless claims fell to the lowest level since 1973 continued to support the greenback and as investors eyed additional U.S. reports due later in the day.

- Gold prices tumbled to a fresh five-year low in European morning hours on Friday, as data showing that U.S. jobless claims fell to the lowest level since 1973 and positive news from Greece weighed on the safe-haven metal.

- Crude oil futures rose on Friday, easing off the previous session's seven-month low but still remained under the $50 mark as concerns over a global supply glut continued to weigh heavily on the commodity.

- American Airlines Group Inc (O:AAL) on Friday reported second-quarter profit that topped analysts' expectations and declared a stock buyback and dividend as cheap fuel continued to benefit its bottom line.

 

 

 

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