US EQUITY OPEN: Indices mixed as ISM Services await as Tech outperforms

OPEN: US indices opened the first trading session of the week mixed, as the Nasdaq 100 (+0.4%) outperforms, while the Russell 2000 and Dow Jones are in the red. Sectors are predominantly lower, with only Tech and Communication Services in the green, as Real Estate and Energy are the laggards; WTI and Brent see losses, albeit the former seeing greater weakness. Crude benchmarks were pressured amid reports of Yemeni Houthi leader Mohammed al-Bukhaiti calling for a truce, saying “no one benefits from war, according to social media reports. However, Houthi media pushed back on these claims. Treasuries are lower, while G10 FX peers are weaker vs. the Greenback, while the Brazilian Real soars after Bolsonaro won the first round of the Brazilian election, sending it to a run-off vote vs incumbent Lula. EUR continues to be weighed on by fiscal and political woes, and the Yen saw a bout of weakness as Japan's GPIF didn't discuss allocation at its September meeting. Ahead, ISM Services is due at the top of the hour with the calendar thin thereafter. STOCK SPECIFICS: Elon Musk confirmed TSMC (TSM) is in early discussions to join Terafab semiconductor project in Texas; Investors hoping Intel (INTC) would have Terafab all to itself. Bernstein & Citi recommend buying Western Digital (WDC) and Seagate (STX) after Friday’s selloff Schneider Electric agreed to acquire PTC (PTC) for $205/shr in cash; PTC closed Fri. at $144.03/shr. Trump admin plans to offer Vistra (VST) c. $4bln in loans to upgrade three nuclear plants Amprius (AMPX) awarded Caminus a contract to produce hundreds of thousands of drone batteries in 2027 C.H. Robsinson (CHRW) agreed to acquire Rxo (RXO) for $30.25/shr; RXO closed Fri. at $23.38/shr Insmed (INSM) announces CFO Sara Bonstein to step down