US index futures were little changed on Monday as technology shares paused and Brent crude stayed near $100 a barrel. The 10-year Treasury yield was last at 5.277 percent.
Wall Street was set for a subdued open on Monday as technology shares eased from record highs and oil prices stayed elevated. Reuters reported that, in early futures trade, Dow E-minis were up 0.07 percent, S&P 500 E-minis up 0.02 percent and Nasdaq 100 E-minis down 0.11 percent.
Chip shares were a drag before the bell. Intel was down 3.8 percent and Micron down 0.6 percent in premarket trade, while Nvidia was up 0.5 percent after touching a record on Friday. The benchmark 10-year Treasury yield was last at 5.277 percent, near multi-year highs.
Brent crude hovered near $100 a barrel. Reuters said futures were slightly higher around that level amid concern over Gulf oil disruptions. Associated Press, writing later in the morning, said Brent was most recently at $101.83, down 0.4 percent, after swinging between $100 and $103. AP also reported the S&P 500 up 0.2 percent in early cash trade, the Dow down about 103 points and the Nasdaq up 0.5 percent. Those cash figures are a later snapshot than the futures note.
Deal news supported some shares. AP said RXO jumped after C.H. Robinson agreed to buy its truck-brokerage business at $30.25 a share in cash, while C.H. Robinson fell. PTC rose after Schneider Electric of France offered $205 a share in cash.
Investors are still watching when fighting involving Iran might allow crude flows through the Gulf to normalise. No new supply figure was published in either market report.
People Sentiments Neutral
- Peter Andersen of Andersen Capital Management said the equity market still had momentum despite higher yields