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Traders this week will have plenty to sink their teeth into, between the start to second-quarter earnings season, hearings on Facebook’s controversial new cryptocurrency project and Amazon’s Prime Day extravaganza.
Meanwhile, big banks including JPMorgan Chase (JPM), Goldman Sachs (GS), Morgan Stanley (MS) and Bank of America (BAC), along with several major tech names Netflix (NFLX) and Microsoft (MSFT) deliver quarterly results this week, setting the tone for the rest of second-quarter earnings season.
China's economy grows at slowest pace since 1990s: China’s economy grew at its slowest pace since the early 1990s, expanding just 6.2% in the three months to June, from a year earlier. While the result was in line with forecasts, it shows that the world’s second largest economy is in a quandary over how it tries to stimulate its finances, by boosting its spending by delivering tax cuts, while fighting a fierce trade war with the U.S. [Yahoo Finance UK]
Amazon Prime Day: Workers across the world stage strikes and protests: As Amazon (AMZN) kicks off its annual Prime Day discount-shopping bonanza, its workers in the U.S. and the EU are planning a series of strikes and protests over salaries and unsafe working conditions at Amazon’s fulfillment centers. [Yahoo Finance UK]
Facebook, Google, Amazon, Apple will be under fire on Capitol Hill this week: Silicon Valley will have a big presence in Washington, D.C., this week as big tech companies get ready for the spotlight, with several high-profile Congressional hearings scheduled for this week. [Yahoo Finance]
Bitcoin drops more than 10%: Bitcoin (BTC-USD) slumped more than 10% over the weekend to a two-week low as fears of a crackdown of cryptocurrencies grew on mounting scrutiny of Facebook's planned Libra digital coin.Bitcoin fell 11.1% from Friday to $9,855 early on Monday, its lowest since July 2. [Reuters]
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Traders this week will have plenty to sink their teeth into, […]