U.S. equities remain relatively buoyant
U.S. equities remain relatively buoyant amid Sino-U.S. trade talk hopes later this week, news of which gave stocks a lift last week along with the view this could pave the way for another Xi-Trump summit. Otherwise the U.S. docket is fairly lean in terms of data, with focus on Fedspeak from dovish Bostic later. The Dow is 55-points higher, S&P gained 4-points and NASDAQ is up 16-points in pre-market action. Europe is firmer as well after the major bourses climbed 0.3-1.0%, paced by the German DAX +0.9%. Asia was mixed with Japan's N-225 off 0.3%, but the HK Hang Seng +1.4% and China CSI 300 + 1.1% on trade talk hopes and likely state fund intervention. In M&A, PepsiCo agreed to buy SodaStream +10% for $3.2 B in order to diversify its product line. Tesla plunged 3% after reports the Saudi wealth fund PIF is talking with rival Lucid Motors about an investment after CEO Musk said "funding secured" from PIF. JPM also slashed Tesla's price target nearly in half after the misguided tweet on going private. NIKE surged 2.5% after broker upgrades.