U.S equities are mixed
U.S equities are mixed in another cautious trade following the modest 0.2% declines seen yesterday. The Dow mini in down 0.4% in pre-market action, the S&P 500 mini is nearly flat at +0.03% and the NASDAQ 100 mini is 0.2% in the green. The earnings flood continues, with 65 firms reporting today. The tech sector is supported by earnings from Facebook and Microsoft that beat expectations. Southwest and International Paper earnings topped projections. 3M shares are weaker (-9%) after the firm cut its forecast for the year and announced 2,000 in job cuts, weighing on the Dow. European stocks are mostly lower, with the Euro Stoxx down 0.3%, the CAC 40 0.2% in the red and the FTSE off 0.5%. In Asia, China's CSI 300 dropped 2.2% while the Hang Seng fell 0.9%. China's shares were dented by ongoing concerns the government might be scaling back stimulus measures. Japan's Nikkei improved 0.5% after the Bank of Japan signaled further stimulus measures could be enacted if needed.