日本6月新屋开工年率 18.57%，预期12.8%，前值33.90%。

BERENBERG analyst Andrew Wishart says Europe's Q2 activity showed resilience despite the energy shock, reducing the likelihood that policymakers must pursue preventive rate hikes to avert a wage-price spiral that would threaten jobs. He warns the Bank of England could still deliver a 25bp hike if energy prices rise further, but the lack of a rebound in labour demand means disinflation is likely to persist. Wishart expects the Bank of England to begin cutting in December, projecting the policy rate to fall from 3.75% to 3.0% by mid-2027.

Meta Platforms (META.O) was down 8.3% in U.S. premarket; the company reported second-quarter free cash flow fell 91%. Microsoft (MSFT.O) rose 7% premarket; fourth fiscal-quarter cloud revenue exceeded market expectations. Qualcomm (QCOM.O) slipped 5.7% premarket and Arm (ARM.O) fell 7.2%.