UK Chancellor of the Exchequer Reeves: We have accepted the recommendations of the Pay Review Body on public sector pay.

[Baltic Dry Index falls for seventh consecutive trading day] The Baltic Dry Index fell for the seventh consecutive trading day on Monday due to a decline in capesize freight rates. The Baltic Dry Index fell 11 points, or 0.6%, to 1,797 points, the lowest level since May 29. The Capesize Index fell 32 points, or 1.2%, to 2,582 points, the lowest level in more than two months. The average daily profit of Capesize ships fell by $265 to $21,411. The Panamax Index was flat at 1,792 points. The average daily profit of Panamax ships rose by $7 to $16,132. The Ultramax Index fell 3 points, or 0.2%, to 1,383 points.

British Chancellor of the Exchequer Reeves: Transport budget expected to overspend by £1.6 billion.

British Chancellor of the Exchequer Reeves: Overspending on the asylum system is expected to exceed £6.4 billion this year.

UK Chancellor of the Exchequer Reeves: The £22 billion shortfall is for this fiscal year.

UK Chancellor of the Exchequer Reeves: We have inherited a spending overrun estimated at more than £22 billion.

British Chancellor of the Exchequer Reeves: Total pressure on the budget has increased by £35 billion.

British Chancellor of the Exchequer Reeves: Immediate action will be taken to deal with the financial problems left over from the previous government.

The Dallas Fed’s U.S. manufacturing raw materials price payment index was 23.1 in July, compared with 21.5 in the previous month.

The U.S. Dallas Fed Manufacturing Shipping Index in July was -16.3, compared with 2.8 in the previous month.

The U.S. Dallas Fed Manufacturing Employment Index was 7.1 in July, compared with -2.9 in the previous month.

The U.S. Department of Defense is remaining cautious on the issue of hypersonic weapons, the U.S. Government Accountability Office (GAO) said.

UK Financial Conduct Authority (FCA): Rules on financial services may be simplified to reduce the burden on businesses, and are considering simplifying relevant rules in the commercial insurance sector.

Trump Media & Technology Group fell 4.6%.

Market news: HP will obtain unconditional approval for Juniper (acquisition) transaction in the European Union.

Tesla (TSLA.O) shares rose as much as 3.5%.

Market news: Iran and Gambia agree to restore diplomatic relations.

Abbott Laboratories Inc ABT.N shares fell 4.7 percent, leading the S&P 500 lower.