S&P 500 futures are flat ahead of a busy week of earnings, Fed meeting: Live updates

International investment firms have changed their China GDP forecasts nearly every month so far this year, with JPMorgan making six adjustments since January.

The U.S. investment bank most recently cut its China GDP forecast in July to 5%, down from 5.5% previously. That came alongside cuts this month by Citi and Morgan Stanley to 5%.

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— Evelyn Cheng

Japan’s business activity expanded for the seventh straight month, according to flash estimates by the au Jibun bank.

The country’s composite purchasing managers index stood at 52.1 for July, unchanged from the month before.

Services PMI slipped slightly to 53.9 from 54 in June, while manufacturing activity stayed in contraction territory, with the PMI falling to 49.4 from 49.8.

— Lim Hui Jie

Some Chinese stock sectors are seeing fundamentals shift in their favor.

Profits are moving to industrials, consumer discretionary and staples — and away from materials and energy, according to HSBC.

Investors may also get some answers about macro policy in coming days with a gathering of Chinese leaders, called the Politburo, due by the end of the month.

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— Evelyn Cheng

Shares of AMC Entertainment Holdings surged more than 60% after a judge on Friday blocked a proposed settlement on the company’s stock conversion plan that would allow the company issue more shares.

AMC Entertainment Preferred shares were down 15%.

In February the movie theater chain was sued for allegedly rigging a shareholder vote that would allow it to convert preferred stock to common stock and issue millions of new shares. Doing so would have diluted the common stock shares but allowed AMC to pay down some of its more than $5 billion in debt.

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— Tanaya Macheel