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Yellen and other Fed speakers dominate this summer week on Wall Street

BY THE NUMBERS

U.S. stock futures were mixed this morning after a strong Friday rally. Investors looked past nagging concerns about softer wage growth in an overall solid June jobs report. May consumer credit at 3 p.m. ET is the only government economic report today. (CNBC)

Fed Chair Janet Yellen appears on Capitol Hill on Wednesday and Thursday. The central bank is widely expected to begin to chip away at reducing its $4.5 trillion balance sheet in September. A third interest rate hike this year is seen as possible in December. (CNBC)

Oil prices declined this morning, adding to heavy losses at the end of last week, on the back of high drilling activity in the U.S. and ample supplies from OPEC and non-OPEC nations. (Reuters)

* Saudi Aramco CEO: Oil market could see inflection point; confirms IPO still on track for 2018 (CNBC)

Investors have pulled an estimated $26.7 billion from Goldman Sachs Asset Management's mutual funds in 2017, according to Morningstar data, making Goldman the world's worst-selling fund manager globally. (FT)

IN THE NEWS TODAY

Donald Trump Jr. has acknowledged meeting with a Russian lawyer, linked to the Kremlin, during the 2016 presidential election, after being told she allegedly had information that could help his father's campaign. (CNBC)

After a weekend of criticism of President Donald Trump's plan to create a cybersecurity unit in cooperation with Russia, the president tweeted he actually didn't think it would happen. (CNBC)

As lawmakers return to Washington after their July recess, Sen. John McCain said the GOP's effort to replace Obamacare is "probably going to be dead." But fellow Republican Sen. Lindsey Graham said he supports the bill. (USA Today)

Treasury Secretary Steve Mnuchin said the Trump administration is not considering a plan to raise taxes on the wealthiest Americans in order to pay for tax breaks for the middle class. (Reuters)

Amtrak is starting extensive repairs today to tracks and signals at New York City's Penn Station. The work, scheduled to last through the end of August, was initially scheduled over a few years on nights and weekends. But two recent derailments accelerated plans. (AP)

A huge blaze broke out overnight at the famous Camden Market in London. The London Fire Brigade said 70 firefighters and 10 engines were sent to the popular tourist attraction. Major fires have hit the market twice before, in 2008 and 2014. (BBC)

Shares of Wanda Hotel Development spiked over 150 percent after the unit of Chinese conglomerate Dalian Wanda agreed to sell 76 hotels and 13 cultural and tourism projects, including theme parks, to China's Sunac for nearly $9.3 billion. (CNBC)

Elon Musk tweeted over the weekend photos of the first production unit of Tesla's (TSLA) highly anticipated, less expensive Model 3 sedan. The initial 30 customers get their electric cars at a party on July 28. (The Verge)

As part of Amazon's (AMZN) third annual Prime Day, which kicks off at 9 p.m. ET tonight, the e-commerce giant is cutting its Echo home speaker price by 50 percent, and the Echo Dot by 30 percent. (The Verge)

Facebook (FB) cut the price of its Oculus Rift virtual reality headset and related gear for the second time this year. A bundle of the headset, controllers, and games is now $399 for the next six weeks. (CNBC)

STOCKS TO WATCH

ClubCorp (MYCC) agreed to be bought by Apollo Global (APO) for $1.1 billion in cash, or $17.12 per share, a 30 percent premium to Friday's close. ClubCorp is one of the largest operators of private golf clubs in the U.S.

Wells Fargo (WFC) won preliminary approval from a California judge for its $142 million settlement with consumers whose credit scores were harmed by the creation of fake accounts in their names.

Volkswagen's (VLKAY) then-chief executive and other executives were reportedly told the automaker's diesel emissions cheating scandal could cost up to $18.5 billion, about a month before investors were informed.

Apple's (AAPL) market share for renting and selling movies is falling, according to the Wall Street Journal. The market share is now between 20 and 35 percent, down from 50 percent as recently as 2012.

WATERCOOLER

"Spider-Man: Homecoming," the third reboot in the past 15 years, debuted at the top of the North American weekend box office with $117 million in ticket sales. Last week's top film, "Despicable Me 3," dropped to second with $34 million. (AP)