Stocks open flat after a week of historic gains as China’s Q2 growth falls short of estimates. Banks downgrade China’s growth forecasts, risking Beijing’s GDP target. Yields decline due to lower inflation, but the spread between 10-year treasury yield and mortgages widens, raising recession concerns. Economic releases this week include retail sales, housing starts, jobless claims, and existing home sales. Empire State Manufacturing Survey shows consecutive month growth with subdued optimism and easing price pressures. CNBC reports a retirement savings gap, with people having a fraction of the necessary amount. Redfin reports decreased listings, strong demand, and bidding wars on half the listings. Monday’s bond market offers limited activity with yields falling in Europe and bouncing back during domestic trading. Black Knight plans to sell Optimal Blue business for $700 million to address antitrust concerns, with Constellation Software as the potential buyer if the ICE takeover proceeds. Black Knight’s shares reach a one-year high.

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