Stock markets remained flat on Monday following Friday’s rally driven by weak jobs data, strengthening the case for the Federal Reserve to hold interest rates steady this month. Schneider Electric announced the acquisition of design software maker PTC for $22.6 billion, while logistics provider C.H. Robinson is buying truck brokerage RXO for $5.8 billion. Melius Research upgraded Microsoft to buy with a $665 price target, implying over 28% upside. Wells Fargo was also upgraded to buy by Morgan Stanley, which named it a top pick citing a clearer path to profitability improvements. Barclays lowered its Nike price target to $37 from $48, with the stock trading at 13-year lows.
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