Global Markets React to China's Economic Slowdown While US Sleeps

As China's economy continues to struggle, with disappointing readings for industrial production and retail sales, the country's central bank has cut lending rates and the yuan has slid to its lowest level since 2023. In contrast, the U.S. economy appears to be in a better position, with fund managers predicting a soft landing or no landing at all. U.S. Treasury yields are climbing, and the dollar is gaining strength against currencies in emerging economies. The retail sales report in the U.S. is expected to reinforce the robust readings for the economy, while Home Depot's earnings update will provide insight into the performance of big retailers.