Tech Earnings Disappoint, European Markets Mixed

European markets were mixed as tech stocks sank 2% on weak U.S. earnings, while mining stocks added 1.4%. The pan-European Stoxx 600 opened slightly lower, with tech stocks dropping 2% following their U.S. counterparts. In Asia-Pacific, Japan's Nikkei 225 led losses after posting its first trade surplus in 23 months. Nasdaq 100 futures slid as Netflix missed second-quarter earnings expectations, and Tesla shares retreated after a warning of a vehicle production slowdown. German producer prices rose slightly in June, and China's state-owned banks were seen buying yuan to slow declines. Goldman Sachs named Chinese stocks likely to benefit from generative AI, while ASML faces risks amid U.S.-China tensions.