The lira bounced off its record lows against the dollar
U.S. stock futures are on the upswing this morning, as Turkey currency concerns dissipate, with the lira rebounding from record lows against the dollar. Dow Jones Industrial Average (DJI) futures are well above fair value, powered by an earnings beat-and-raise from Home Depot (HD). S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also pushing higher, with tech stocks in the black ahead of the bell. On the economic front, Wall Street is digesting a 4.8% year-over-year uptick in import prices for July -- the biggest since 2012 -- while export prices rose 4.3%.
Continue reading for more on today's market, including:

5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 865,026 call contracts traded on Monday, compared to 554,120 put contracts. The single-session equity put/call ratio fell to 0.64, and the 21-day moving average remained at 0.64.
- Tapestry Inc (NYSE:TPR) -- formerly known as Coach -- shares are up 5% in electronic trading, after the luxury retailer reported fiscal fourth-quarter earnings and revenue that exceeded Wall Street forecasts. Increased demand for Kate Spade handbags led to the upbeat numbers. TPR scored a record high of $55.50 in late April, but gapped lower in early May after an earnings miss.
- Express Scripts Holding Company (NASDAQ:ESRX) stock is up 1.2% ahead of the bell, after activist investor Carl Icahn reversed his position against the $52 billion deal with Cigna (CI). Icahn dropped his attempts to seek votes against the deal after advisory firms Glass Lewis and Co and ISS voiced their support for the buyout. ESRX stock nabbed a two-year high of $85.42 on Aug. 10, and have now added 38% year-over-year.
- Shares of Switch Inc (NYSE:SWCH) are down 23% in electronic trading, after the tech hardware concern reported second-quarter earnings and revenue below analyst forecasts. The company also slashed its fiscal-year forecast, prompting two downgrades and three price-target cuts, including to "neutral" from "overweight" at J.P. Morgan Securities. No stranger to dismal post-earnings moves, SWCH is on track to open at a new record low.
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There is no other economic date of note. Agilent Technologies (A), Array Biopharma (ARRY), Baozun (BZUN), Canadian Solar (CSIQ), Children's Place (PLCE), and Cree (CREE) will report earnings.
European Stocks React to Earnings, Economic Data
Stocks in Asia finished mixed in today's trading. Japan's Nikkei took the lead, adding an impressive 2.3% on the back of a weakening yen. South Korea's Kospi also finished in the black, up 0.5%. However, lingering tensions out of Turkey and disappointing data on Chinese fixed-asset investment and retail sales pushed Hong Kong's Hang Seng and China's Shanghai Composite down 0.7%, and 0.2%, respectively.
Meanwhile, European markets are trading on both sides of breakeven at midday, as investors digest a fresh round of corporate earnings and economic data. Among companies in focus is copper mining name Antofagasta, with the shares sinking post-earnings. At last check, London's FTSE is down 0.2%, France's CAC 40 is 0.04% higher following a second-quarter retreat in the country's unemployment rate, and Germany's DAX is holding onto a 0.2% gain after data showed economic growth and confidence improved in the April-June period.