US Tech Stocks Steady, Chipmakers and Utilities Rebound
Key Market Movements
* Nasdaq 100 futures: +0.1%
* S&P 500 futures: Unchanged
* Dow Jones Industrial Average futures: -0.1%
* Stoxx Europe 600: +0.5%
* MSCI World Index: Unchanged
Earnings and Corporate News
* Microsoft and Apple earnings reports later this week.
* HSBC to withdraw from equity capital markets and advisory services outside Asia and the Middle East.
* SAP shares reach record high on strong cloud sales.
* Siemens Energy raises cashflow outlook after beating revenue and profit estimates.
* PIMCO considers buying portion of $3 billion X buyout debt.
Interest Rates and Yields
* 10-year Treasury yield: +3 basis points to 4.56%
Commodities
* West Texas Intermediate crude: +0.8% to $73.74 per barrel
* Spot gold: Unchanged
Currency Markets
* Bloomberg Dollar Spot Index: +0.4%
* Euro: -0.7% to $1.0420
* British pound: -0.6% to $1.2430
Analysis
* Technical analysts view the market pullback as a potential buying opportunity.
* Sector analysts believe recent losses in the technology sector may have been excessive.
* Traders anticipate upcoming earnings announcements to provide further market direction.