Key takeaways:

• ASX futures suggest the local share market may open in positive territory to start the new trading week, but high-profile names like Qantas and FMG will be on watch

Economic Calendar and News

These are the major items on this week’s agenda:

• The Reserve Bank of Australia is expected to keep interest rates steady for the third month in a row

• Wednesday will bring gross domestic product data for the second quarter, with forecasts suggesting the Australian economy grew at a subdued rate of 0.3% in the June quarter, and 1.7% versus a year prior

• Other Australian economic data to watch includes company gross profits, job advertisements, services and manufacturing activity, building permits, and the Balance of Trade

• Analysts will focus on China’s economy this week, with the release of services PMI data and August’s inflation reading scheduled to be published – the latter could take on greater significance as projections suggest prices were deflationary last month

• The US Federal Reserve will issue its Beige Book on Wednesday, which is an overview of the US economy that details economic conditions across all 12 Federal Reserve districts

Stocks on watch

Some of the potential stocks in focus this week include:

• Expect pressure to remain on Qantas (ASX: QAN) as the fallout of the ACCC’s case against the national carrier continues to play out, and numerous parties pressure the government to reverse its decision in rejecting Qatar Airways’ application to ramp up flights to Australia

• Iron ore titan Fortescue Metals Group (ASX: FMG) will front major investors this week just days after several high-profile personnel departed the business, with expectations it will field questions and concerns about the costs associated with its green energy ventures

• Electric vehicle manufacturer Tesla (NASDAQ: TSLA) will want to turn around its performance from Friday’s US trading session, when the company’s decision to slash prices on key models saw the TSLA share price slump more than 5%

• Energy names such as Woodside (ASX: WDS), Beach (ASX: BPT), and Santos (ASX: STO) may be in the spotlight after crude oil prices gained nearly 3% on Friday evening, the seventh consecutive gain for the commodity