US EQUITY OPEN: Stocks open higher with Nasdaq leading gains

OPEN:  Stocks have opened in the green on Friday, with outperformance seen in the Nasdaq 100; Real Estate is leading the gains alongside consumer discretionary and healthcare. Mega caps are performing well, although Apple (AAPL) is the outlier, sliding 2.4% and limiting tech sector gains. Apple (AAPL) reportedly told suppliers to cut production of components for its iPhone 18 and Pro Max as rising prices dampens consumer demand, reported Nikkei. Consumer Staples, Communication and Industrials are underperforming. Communication names are lower, with telecoms weighed down by SpaceX (SPCX) announcing a nationwide low-band spectrum deal, weighing on carriers like AT&T(T), Verizon (VZ) and T-Mobile (TMUS) while SpaceX rallies. Airlines (JETS) lower after Delta (DAL) earnings saw it cut its FY profit forecast.  Crude prices are mixed, but some upside was seen in recent trade on reports that the Houthis have attempted to protect their positions by planting mines in the Bab al-Mandeb. Meanwhile, the IRGC earlier warned that vessels violating restrictions will be pursued and punished beyond the Strait of Hormuz.  In FX, the Aussie is gaining while CAD lags after a weak Canadian jobs report, while the Yen is softer too, with the Dollar posting marginal gains. Meanwhile, US Treasury yields are rising across the curve - particularly in the front end.  The UoM survey of consumer snetiment saw the headline miss at 46.3 from 48.1, below the 47.8 forecast. Both current conditions and forward looking expectations declined, but the latter beat expectations. Inflation expectations moved higher for both the 1 and 5-year. STOCK SPECIFICS Apple (AAPL): Cut October component orders for its iPhone 18 Pro and Pro Max by 15-20% amid weaker-than-expected demand SpaceX (SPCX): Agreed to acquire Grain Management's 800 MHz spectrum portfolio for USD 8bln in cash Delta Air Lines (DAL): Profit missed, cut FY EPS guidance and provided weak next-quarter outlook Humana (HUM) / Alignment Healthcare (ALHC): Following CMS headlines; Alignment Healthcare said one of its 2027 Medicare Advantage plans received a 3.5-star rating, while Humana announced improved Star Ratings for 2027 Lumentum Holdings (LITE): CEO said Lumentum's optical components are sold out through 2029