Top 5 things to know in the market on Monday By

© Reuters. Top 5 things to know today in financial markets – Here are the top five things you need to know in financial markets on Monday, July 24:

1. All eyes on OPEC committee meeting

Investors will keep a close eye on a of some oil ministers from OPEC and non-OPEC producers, who are gathering to discuss compliance with the cartel’s deal to cut production.

The monitoring committee meeting in St. Petersburg, Russia, includes OPEC members Kuwait, Algeria and Venezuela as well as non-OPEC countries Russia and Oman. Other ministers, from Saudi Arabia and elsewhere, could also participate as observers.

Saudi Energy Minister said earlier that there would be no discussion of deeper oil output cuts at the meeting, but there will be talk of introducing production caps on Nigeria and Libya. The two countries had been exempted from the pact among major oil producers to allow their production to recover from years of unrest.

A decision on that issue is expected to be announced soon after the meeting concludes later in the day.

In recent trading, was at $45.87 a barrel, up 11 cents, or around 0.2%, while tacked on 15 cents to $48.21 a barrel.

2. Alphabet earnings in focus

Market participants will continue to keep an eye on the U.S. quarterly reporting season, with the focus on earnings from Google parent Alphabet (NASDAQ:) out after the closing bell. Analysts expect the tech giant to report earnings per share of $4.46 on revenue of $25.64 billion.

Logitech (NASDAQ:) and Anadarko Petroleum (NYSE:) are also due after the close.

Earnings expected before the opening bell include Halliburton (NYSE:), Hasbro (NASDAQ:), Stanley Black & Decker (F:), Manpower Group (NYSE:), PetMed Express (NASDAQ:) and Arconic (NYSE:).

U.S. stock futures pointed to a lower open on Wall Street, with the blue-chip indicating a loss of 36 points, or around 0.2%; the ticked down 6 points, or about 0.2%, while the tech-heavy fell 11 points, or roughly 0.2%.

3. President Trump to make statement on healthcare

President Donald Trump is set to deliver a statement on healthcare at 3:15PM ET (1915GMT), according to the White House.

The president offered an opinion on the state of the Republican attempt to change the U.S. healthcare system in a Twitter post on Sunday.

According to sources, Republican Senate leaders as early as Tuesday to take up legislation to repeal or replace Obamacare, but it remained unclear which version of the bill senators would vote on.

The investigation into U.S. President Donald Trump campaign’s ties to Russia will also continue to get attention. Trump’s son-in-law, Jared Kushner, a senior White House adviser, is expected to face questions about his contacts with Russian citizens and officials when he later in the day.

The was nursing losses near 13-month lows against a basket of the other major currencies, pressured by ongoing concerns over political turmoil in Washington.

4. German automakers sink on collusion accusations

German auto stocks , weighed down by uncertainty over possible antitrust fines after European regulators said they were investigating allegations that carmakers were operating a cartel.

Shares in Volkswagen (DE:) slumped around 3% in mid-morning trade, with premium rivals Daimler (DE:) and BMW (DE:) down 3.7% and 2.6% respectively.

The news came after German magazine Der Spiegel said on Friday that VW, its Audi and Porsche brands and BMW may have colluded to fix the prices of diesel emissions treatment systems using industry committees.

In the broader market, European shares were broadly lower, with down around 0.7%, while London’s dropped 1%.

5. Euro zone private sector output loses momentum

Euro zone private sector activity in July, while inflation pressures continued to decline, according to a flash survey from Markit.

The composite output index, which measures the combined output of both the manufacturing and service sectors, declined to a six-month low of from 56.3 in June, compared to expectations for 56.2.

Germany, the motor of the euro area economy, saw growth fall to the , while France also saw output .

Despite coming off recent highs, the index remained at an elevated level by historical standards and signaled one of the strongest expansions seen over the past six years.

The was down slightly at 1.1655 against the dollar, after inching up earlier to a 23-month high of 1.1684.

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