Today's Headlines

Bloomberg:

• China’s Steel Production Outpaces U.S., World. (video)

• Your Evening Briefing.

• OPEC Supply Seen Plunging Most in Five Months by Tanker Tracker.

• McConnell and Mnuchin Predict Congress Will Raise the Debt Ceiling.

• Mnuchin Keeps the Economic Agenda Ticking as He Defends Trump. (video)

• S&P 500 Could Rally 15 Percent If It Stays Above This Level. Get ready to buy the dip. Despite having one of the biggest drops of the year last week on trouble in the White House, U.S. stocks are still holding above a key technical level known as the 200-day moving average. Analysts at Bank of America Corp. say that if the S&P 500 Index can stay above this level, we could close out the year 15 percent higher than Friday’s close. Analyst Stephen Suttmeier laid out three scenarios for the index for the rest of the year.

• Wal-Mart(WMT) Extends Online Grocery Home Delivery to Dallas and Orlando. Wal-Mart Stores Inc. has brought its online grocery delivery service to two more cities, extending a program that could attract new customers as it battles Amazon.com Inc. and brick-and-mortar rivals. The world’s biggest retailer is expanding the service to Orlando and Dallas in a partnership with Uber Technologies Inc., whose drivers will make the home deliveries. The service already exists in Denver, San Jose, Phoenix and Tampa.

Wall Street Journal:

• China’s Great Wall Motor Expresses Interest in Buying Fiat Chrysler’s Jeep. Fiat says it hasn’t been approached; interest follows several years of merger talk by CEO Marchionne.

MarketWatch.com:

• Stock prices look attractive now — compared to bonds.

• European stocks end lower, but Fiat Chrysler and Maersk shine.

Fox News:

• Search underway for 10 sailors after USS John S. McCain collision near Singapore; ship has significant damage. (video)

• Driver in Barcelona terror attack shot dead, Spanish police say. (video)

CNBC:

• Ray Dalio: US most divided socially and economically since 1937.

• The man who ran the largest tech fund during dot-com bubble turns bullish on FANG stocks. Here's why. (video)

• There are 7 ‘sins’ the retail industry keeps committing and it's killing the stocks.

• Maersk agrees to sell oil unit to Total in $7.45 bln deal. (video)

Zero Hedge:

• One Statistics Professor Was Just Banned By Google: Here Is His Story.

• Big Oil Nervous As Venezuela's Maduro Seizes More Power.

• Watch Live: Today's Once-In-A-Century Solar Eclipse.

• Ethereum Soars Near Record High As Hard Fork Sparks Buying Fever. (graph)

• Barcelona Truck Attack Driver Arrested As Police Kill "Suspicious Person" Wearing Explosive Vest In Separate Operation.

• Steve Bannon Plots Fox News Competitor As He "Goes To War" With Globalists, Report.

Business Insider:

• Gundlach fires back at report saying investors are fleeing his biggest fund.