US EQUITY OPEN: Tech outperformance continues as US/Iran remains in focus

OPEN: US indices are gaining with the tech-heavy Nasdaq 100 extending on Monday's outperformance, and buoyed by numerous bullish stories, ahead of GOOGL and TSLA earnings on Wednesday. Once again, US/Iran headlines dominate the tape, with some of the most recent reports suggesting that Yemeni Houthis have warned shipping firms to avoid loading or discharging at Saudi ports, while Trump reportedly rejects proposal for a 10-day ceasefire with Iran. As such, WTI and Brent are firmer by c. USD 2/bbl with weekly private inventory data due after-hours. Sectors are almost exclusively in the red, with Tech and Energy the only ones in the green, and buoyed by aforementioned stories (tech update available here). The Dollar is broadly gaining vs. G10 FX peers, with Swissy and Kiwi lagging, and the Aussie the only one eking out gains. Treasuries are lower across the curve, in a week that lacks key US data or speakers, aside from earnings. Precious metals sit in the green. Note, the calendar ahead is quiet. STOCKS SPECIFICS: TSMC (TSM) set to raise prices for both advanced & mature chip prod. services by up to 10% in '27 Nvidia (NVDA) disclosed a 9.3% passive stake in Nebius (NBIS) & incl. Nvidia's earlier $2B investment. Crown Holdings (CCK): EPS, rev. beat & lifted FY26 outlook. Danaher (DHR): Cut FY adj. rev. growth outlook. Hasbro (HAS): Top & bottom line surpassed exp. alongside raising FY guidance. General Motors (GM): Earnings beat;  FY26 adj. EBIT outlook missed. 3M (MMM): EPS & rev. beat alongside raising FY profit outlook. Charles Schwab (SCHW): Earnings impress. Software: Intuit (INTU), Salesforce (CRM), Adobe (ADBE) all downgraded at Morgan Stanley.