U.S. equities are on the mend
U.S. equities are on the mend after a 3-day rout left them sharply lower to start the week after the Turkish lira snapped back from lows following central bank measures. Trade prices were fairly subdued in July. Tech shares made inroads back as well, with FAANGS enjoying some buoyancy. The Dow is 83-points higher, S&P gained 8-points and NASDAQ is 31-points firmer in pre-open action. Europe is mixed with the Euro Stoxx 50 +0.2% and UK FTSE 100 -0.2% after firmer German ZEW confidence. Asia was quite mixed after a 2.2% rebound on Japan's N-255 was accompanied by a 0.6% drop on the HK Hang Seng and 0.5% decline on the China CSI 300 after China investment and retail data came up short and a Tencent video game was blocked by regulators in China. Nvidia rallied 1.5% after introducing new gaming chips, helping lift the chip sector. Home Depot gained 2% after beating the Street. Tesla's Musk hired Silver Lake and Goldman to take Tesla private and the board has formed a committee on the topic; it's shares are modestly firmer in pre-open trade.