- As investors awaited the upcoming round of earnings from some of the largest firms in the world, US futures fluctuated due to a collapse in Chinese shares. Treasury yields decreased, but the dollar increased.
- S&P 500 and Nasdaq 100 contracts retraced their session lows. Chinese companies with US-listed equities, from Alibaba to jd.com, fell in premarket trading as a result of investors being alarmed by president Xi Jinping's increasing control over China's ruling party.
- Investors' attention is still mostly on the outlook for interest rates in the US and Europe, but this week they will also be paying close attention to the profits of mega-cap technology companies, which are one of the main sources of profit growth for the S&P 500. The five largest tech companies by revenue, Apple, Microsoft, Alphabet, Amazon, and Meta Platforms — are expected to announce the greatest earnings decline in three years.
- In tumultuous trading that saw dramatic swings in the yen and indications of a second intervention from Japanese authorities in two sessions, an indicator of dollar strength increased. Following Boris Johnson's withdrawal from the running to lead the UK's dominant conservative party, British bonds rose, bringing former chancellor Rishi Sunak closer to being the next prime minister.
