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China GDP fallout; Bank earnings; Prime Day

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Today’s top business headlines: - Major averages hit new records - China's economy slows as trade war continues - Secret deodorant to contribute $529,000 to US women's soccer

London 1. China's economy: China's economic growth slumped to its lowest level in nearly three decades as the world's second largest economy feels the effects of a prolonged trade war with the United States.

The country's GDP grew at 6.2% in the quarter that ended in June, the slowest quarterly growth rate since 1992 and down from 6.4% in the previous quarter, according to government figures released Monday. Monthly data for June was better than expected but likely doesn't mark the beginning of a turnaround, according to Capital Economics.

Wednesday — US housing starts and building permits; Eurozone inflation; Bank of America , eBay , IBM , Netflix earnings; US oil inventoriesFriday — American Express and BlackRock earnings; University of Michigan consumer sentiment

 

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