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US stocks consolidate near record levels

Major US equity indices had a rather muted opening, with all the three key benchmark indices holding near Friday's record closing level on the first day of a new trading week.

Investors on Monday will focus remain focused on the merger news in the technology sector, with Broadcom announcing an unsolicited proposal to buy the rival chip maker, Qualcomm. The deal is valued at $130 billion and could be one of the biggest mergers in the technology sector. 

With third-quarter earnings season giving plenty of reasons to support the current optimism, the markets now seemed anxiously waiting for any fresh headlines on the Republican tax plan before continuing with the ongoing bullish momentum. 

Also in focus would be on the US President Donald Trump's 12-day tour to Asia, with much of the attention on his comments on North Korean nuclear missile program.

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