10 things you need to know before the opening bell

Vice President Mike Pence with President Donald Trump at a Made in America product showcase event at the White House.
Reuters/Carlos Barria

Here is what you need to know.

The US dollar sinks to its lowest level since September. The greenback trades down 0.5% at 94.66 as it loses ground versus all of its major peers aside from the British pound. It has fallen by 8.7% from its multiyear high reached January 3.

Beijing’s home prices fell for the first time in over 2 years. Home prices in Beijing fell 0.4% in June, making for the first decline since February 2015. Smaller cities continued to see gains.

UK CPI eases off its post-Brexit high. Consumer prices in the United Kingdom rose by 2.6% year-over-year in June, down from their 2.9% advance in May.

Australia’s central bank is becoming more confident. Minutes released from the Reserve Bank of Australia’s July meeting suggest the central bank has become more upbeat on the Australian economy and labor market.

Netflix soars past growth targets. Netflix added 5.2 million subscribers worldwide, easily beating its forecast of 3.2 million new subscribers. Shares spiked by 8% following the results, hitting a record high.

Citi picks a post-Brexit European hub. The bank will set up a “major new trading operation” in Frankfurt, Germany, according to Sky News.

Tesla adds 2 board members. James Murdoch, the CEO of 21st Century Fox, and Linda Johnson Rice, the chairman and CEO of Johnson Publishing Company, are the newest members of Tesla’s board of directors.

Stock markets around the world are mixed. China’s Shanghai Composite (+0.35%) led the overnight gains, while Germany’s DAX (-0.56%) trails in Europe. The S&P 500 is set to open up 0.11% near 2,462.

Earnings reporting picks up. Bank of America, Goldman Sachs, Harley-Davidson, and Lockheed Martin are among the names releasing their quarterly results ahead of the opening bell, while IBM and United Continental report after markets close.

Economic data is light. The NAHB Housing Market Index will be released at 10 a.m. ET. The US 10-year yield is down by 1 basis point at 2.30%.