U.S. July new home sales annualized at 607,000, below the 620,000 consensus and down from June's 628,000.

Volkswagen Group CEO Oliver Blume will meet employees on Tuesday at the Wolfsburg main plant to present a capacity-cutting restructuring that could eliminate up to 100,000 jobs. Blume and Volkswagen brand chief Thomas Schafer aim to lift margins to 9% via significant cost reductions. Tensions with unions have risen: Germany’s metalworkers’ union chair Christiane Benner called the 9% target an "unrealistic fantasy," and local union officials warned on Monday they would consider strikes if the plan is not withdrawn. Blume frames the overhaul as the key test of his tenure to realign VW for electric vehicles, software and intensified competition.

SpaceX (SPCX.O) will build a new Starship launch site in southern Louisiana, US.