US EQUITY OPEN: Tech outperforms amid risk-on trade as AI dip is bought

OPEN: US indices open the first trading session of the week in the green, with outperformance in the tech-heavy Nasdaq 100 as participants buy the recent AI dip. Given this, Technology is the sectoral outperfomer, as most sectors are actually in the red, despite the overall bid, with Real Estate and Utilities lagging. Earnings season continues in full-swing this week, as highlights include META, TSLA, SPCX, LRCX, and NFLX, with little tier 1 US data ahead of behemoth of macro events next week. G10 FX performance is mixed vs. the Buck, with high-beta FX the notable gainers, and buoyed by risk on trade, while EUR, CHF, and JPY see losses. The crude complex is lower as Trump eases Russian sanctions, and modest pressure was seen amid reports of a breakthrough is expected to be announced this week to halt the escalation between Washington and Tehran", but swiftly pared as markets digested the the line that the two sides are being urged to "make concessions" to prevent a new war. Treasuries are pretty flat across the curve, while European debt sees pressure given the numerous protests across the continent. Lastly, precious metals are mixed with gold slightly lower, and silver higher. Ahead, there is NAHB Housing Market Index data at the top of the hour, but little else on the docket with Fed in blackout ahead of next weeks confab. STOCK SPECIFICS: Skyworks Solutions (SWKS): Positively mentioned at Starboard & remains undervalued following acquisition of Qorvo. CoreWeave (CRWV): Upgraded at GS. Blue Owl Capital (OWL): Investment bankers have approached Cos. founders about a potential full or partial sale. Cleveland Cliffs (CLF): Profit beat w/ strong next Q EBITDA outlook. Intel (INTC): Upgraded at JPM.