Here are the most important news, trends and analysis that investors need to start their trading day:
A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York, August 5, 2021.
Andrew Kelly | Reuters
Stock futures were pointing to a lower open to start the week as data from China pointed to a slowing economic recovery. Stocks tied to a global economic recovery were down in premarket trading. The moves comes after the Dow and S&P 500 closed at records on Friday.
Residents of Wuhan city in China’s Hubei province queue to take nucleic acid tests for Covid-19 on August 3, 2021.
STR | AFP | Getty Images
Retail sales in China were up 8.5% year over year in July, below the 11.5% projected by analysts surveyed by Reuters. The softer-than-expected reading comes as the spread of the delta variant of Covid has raised concern about the economic trajectory in several Asian countries, including China.
Online shopping saw a particularly sharp slowdown in July, rising 4.4%. The category has grown by an average of 21% over the past five years.
Federal Reserve Chair Jerome Powell testifies during a U.S. House Oversight and Reform Select Subcommittee hearing on coronavirus crisis, on Capitol Hill in Washington, U.S., June 22, 2021.
Graeme Jennings | Reuters
A rising number of voices at the Federal Reserve is calling for the central bank to begin slowing its asset purchases in September. Recent data releases have shown strong growth and high inflation, though the latest consumer price index did not see a major jump as some feared. Fed officials are trying to avoid a repeat of the so-called taper tantrum, the 2013 sell-off in the bond market when the central bank began to trim its purchases after the financial crisis.
Afghans crowd at the tarmac of the Kabul airport on August 16, 2021, to flee the country as the Taliban gained control of Afghanistan after President Ashraf Ghani fled the country and conceded the insurgents had won the 20-year war.
AFP | Getty Images
Kabul airport has descended into chaos as Americans and Afghans try to evacuate after the Tailban captured the capital. The militia group has rapidly taken over the country as the United States has withdrawn its military presence after the two-decade war. The U.S. State Department said Monday that all embassy staffers had been moved to the airport. President Ashraf Ghani fled the country on Sunday evening.
Pedestrians wearing protective masks walk past a Target store in New York, on Monday, Aug. 17, 2020.
Jeenah Moon | Bloomberg | Getty Images
Retail companies are the headliners of the earnings slate this week, with Home Depot and Walmart reporting on Tuesday followed by Target and Lowe’s on Wednesday. Investors and analysts will be listening closely to comments from management about the delta variant, which is threatening to deliver a setback to the economic recovery.