On the bearish side, Enphase Energy Inc (ENPH) plunged more than -7% after providing weaker-than-expected Q3 sales guidance. Minneapolis Fed President Neel Kashkari said on Sunday that the inflation outlook in the U.S. is “quite positive,” but he also acknowledged that the central bank’s aggressive monetary tightening campaign would likely result in some job losses and slower economic growth. Official surveys showed on Monday that China’s manufacturing activity declined for the fourth consecutive month in July, and the services and construction sectors were on the verge of contraction, posing a threat to growth prospects for the third quarter.