EconoTicker

Importance Level: High

U.S. stock index futures steadied on Tuesday, June 30, ahead of the final trading session of the first half and second quarter, after a volatile period shaped by geopolitical tensions, Federal Reserve uncertainty, and questions over the sustainability of heavy artificial intelligence spending.

By 06:09 ET / 10:09 GMT, Dow futures rose 109 points, or 0.2%, while S&P 500 futures gained 7 points, or 0.1%. Nasdaq 100 futures advanced 35 points, or 0.1%, signaling a slightly positive open after Monday’s rebound on Wall Street.

U.S. equities climbed on Monday, helped mainly by a recovery in technology stocks after last week’s concerns over massive spending on AI chips and data centers pressured the sector. Investors also took some relief from a Supreme Court ruling that blocked President Donald Trump’s attempt to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations.

The main focus this week is the U.S. payrolls report, due Thursday, which could provide fresh signals on the economy, labor market strength, and the Federal Reserve’s interest-rate path. U.S. markets will be closed on Friday for the Independence Day holiday.

The S&P 500 snapped a five-session losing streak on Monday and is on track for its best quarterly performance since the pandemic-era recovery six years ago. The Nasdaq Composite is heading toward a 20% quarterly gain, its strongest quarterly rally since the second quarter of 2020. Year to date, the S&P 500 is up around 8.5%, while the Nasdaq has surged 11.1%.

In individual stocks, Strategy shares fell in premarket trading after Michael Saylor’s Bitcoin-purchasing business dropped its previous policy of never selling Bitcoin. Meanwhile, AI infrastructure names regained investor attention, with Super Micro Computer, Sandisk, and Applied Materials rising before the opening bell.

On the earnings calendar, Nike is scheduled to report quarterly results after the U.S. market close.

Market Sentiment: S&P 500 — Neutral to Buy; Nasdaq — Buy; Dow Jones — Neutral to Buy

The short-term sentiment for U.S. equities is Neutral to Buy, supported by steady futures, Monday’s technology rebound, and strong quarterly momentum in the S&P 500 and Nasdaq. The Nasdaq sentiment is stronger because AI infrastructure stocks are regaining demand. However, Thursday’s payrolls report, Fed expectations, and geopolitical risk remain key market tests.

Possible Market Effect:

If the payrolls report shows a cooling but stable labor market, stocks may extend gains as investors price a less aggressive Fed path. Stronger-than-expected jobs data could lift Treasury yields and the dollar, potentially pressuring growth stocks again. AI infrastructure shares may remain market leaders, while Strategy and crypto-linked equities could stay under pressure if Bitcoin weakness continues.

Q: How did U.S. stock futures perform on Tuesday morning?

A: By 06:09 ET / 10:09 GMT, Dow futures rose 109 points, or 0.2%, S&P 500 futures gained 7 points, or 0.1%, and Nasdaq 100 futures advanced 35 points, or 0.1%.

Q: Why did Wall Street rebound on Monday?

A: Wall Street rebounded mainly because technology stocks recovered after last week’s sell-off linked to concerns over AI chip and data-center spending.

Q: Why is Thursday’s U.S. payrolls report important?

A: The payrolls report is important because it can influence expectations for Federal Reserve policy, Treasury yields, the dollar, and equity-market risk appetite.

Q: How strong has the Nasdaq been in the second quarter?

A: The Nasdaq Composite is on track for a 20% quarterly gain, its strongest quarterly rally since the second quarter of 2020.

Q: Are U.S. stocks buyable before the payrolls report?

A: The sentiment is Neutral to Buy. Momentum is positive, especially in technology and AI infrastructure names, but traders should remain cautious before Thursday’s jobs data.

Importance Level: High

Japanese stocks closed higher on Tuesday, supported by gains in the Real Estate, Banking, and Textile sectors. At the close in Tokyo, the Nikkei 225 rose 1.11%, extending positive momentum despite weaker market breadth.

The best performer on the Nikkei 225 was Taiyo Yuden Co., Ltd., which jumped 8.28%, or 1,540.00 points, to close at 20,150.00. Furukawa Electric Co., Ltd. gained 7.04%, or 311.00 points, to finish at 4,730.00, while Dainippon Screen Mfg. Co., Ltd. advanced 6.20%, or 1,040.00 points, to 17,805.00, reaching an all-time high.

The weakest performer was NEC Corp., which fell 3.01%, or 122.00 points, to 3,925.00. Nitori Holdings Co Ltd declined 2.74%, or 68.00 points, to 2,414.50, while Konica Minolta, Inc. dropped 2.31%, or 13.00 points, to 549.30.

Market breadth was mixed despite the index gain. On the Tokyo Stock Exchange, 1,845 stocks declined, 1,674 advanced, and 232 ended unchanged. This suggests the rally was led by selected large-cap or sector-specific names rather than a broad-based market advance.

Volatility also increased sharply. The Nikkei Volatility Index rose 30.92% to 43.36, reaching a new one-month high, signaling that investors remain cautious despite the stronger close.

In the currency market, USD/JPY rose 0.16% to 162.20, keeping the yen under pressure near historically weak levels. EUR/JPY was unchanged at 184.96, while U.S. Dollar Index Futures rose 0.16% to 101.04.

Market Sentiment: Nikkei 225 — Neutral to Buy; JPY — Sell; USD/JPY — Buy

The sentiment for the Nikkei 225 is Neutral to Buy, supported by sector gains and strong performances in electronics and industrial names. However, weak market breadth and a sharp rise in volatility limit the bullish signal. For the Japanese yen, sentiment remains Sell, as USD/JPY moved higher to 162.20.

Possible Market Effect:

A stronger Nikkei may support Japanese equity sentiment, especially in real estate, banking, textiles, and selected technology-related names. However, rising volatility and weak breadth suggest investors may stay selective. The yen’s continued weakness could support exporters but may increase pressure on Japanese authorities to consider intervention if USD/JPY rises further above 162.

Q: How did Japan’s Nikkei 225 perform on Tuesday?

A: The Nikkei 225 rose 1.11% at the close in Tokyo, supported by gains in real estate, banking, and textile stocks.

Q: Which stock was the top performer on the Nikkei 225?

A: Taiyo Yuden Co., Ltd. was the top performer, rising 8.28% to 20,150.00.

Q: Which Nikkei 225 stock hit an all-time high?

A: Dainippon Screen Mfg. Co., Ltd. rose 6.20% to 17,805.00, reaching an all-time high.

Q: What happened to Nikkei volatility on Tuesday?

A: The Nikkei Volatility Index jumped 30.92% to 43.36, marking a new one-month high.

Q: Is the Nikkei 225 buyable after Tuesday’s gain?

A: The sentiment is Neutral to Buy. The index gained 1.11%, but weak market breadth and higher volatility suggest investors should remain selective.

Importance Level: High

U.S. stocks opened the holiday-shortened week with strong gains on Monday, June 29, supported by a rebound in technology and communication services after both sectors suffered steep losses last week.

The S&P 500 rose 1.2% to close at 7,439.26 points, while the tech-heavy NASDAQ Composite surged 2.1% to 25,820.14 points. The blue-chip Dow Jones Industrial Average climbed 0.6% to 52,182.08 points, marking a record close.

Technology remained the main focus after last week’s sell-off, as investors reassessed the AI trade, memory-chip supply constraints, and stretched valuations. The rebound in communication services and technology helped restore risk appetite, while broader market sentiment also improved after tensions between the U.S. and Iran cooled slightly.

Geopolitical risk remained important, however. Fresh fighting between the U.S. and Iran over the weekend pushed oil prices higher, but tensions eased after President Donald Trump said Iran had requested a meeting with Washington in Qatar.

Investors will now focus on the May U.S. jobs report, due on Thursday, for fresh signals on Federal Reserve policy. U.S. markets will be closed on Friday for the July 4 holiday weekend.

Market Sentiment: S&P 500 — Buy; Nasdaq — Buy; Dow Jones — Buy

The short-term sentiment for U.S. equities is Buy, supported by the strong rebound in technology and communication services, the Nasdaq’s 2.1% rally, and the Dow’s record close. However, the outlook remains sensitive to the May jobs report, Federal Reserve expectations, oil prices, and U.S.-Iran developments.

Possible Market Effect:

If the May jobs report comes in softer than expected, U.S. equities may extend gains as markets price in a less hawkish Federal Reserve. A stronger-than-expected labor report could lift Treasury yields and the dollar, potentially pressuring stocks again. Technology and AI-linked stocks may remain the key drivers of market direction.

Q: Why did U.S. stocks rise on Monday, June 29?

A: U.S. stocks rose because technology and communication services rebounded after last week’s steep losses, while risk sentiment improved as U.S.-Iran tensions eased slightly.

Q: How did the S&P 500 perform on Monday?

A: The S&P 500 advanced 1.2% to close at 7,439.26 points.

Q: How did the Nasdaq Composite perform on Monday?

A: The NASDAQ Composite surged 2.1% to close at 25,820.14 points, helped by a rebound in technology stocks.

Q: Did the Dow Jones Industrial Average hit a record close?

A: Yes. The Dow Jones Industrial Average climbed 0.6% to 52,182.08 points, marking a record close.

Q: Are U.S. stocks buyable after Monday’s rally?

A: The sentiment is Buy, especially for technology-led risk assets, but traders should watch Thursday’s May jobs report, Fed expectations, oil prices, and U.S.-Iran headlines.

Source: Market data and U.S. equity market reports.

Importance Level: High

U.S. technology and communication services stocks rebounded after a sharp sell-off last week, as investors reassessed the artificial intelligence trade, memory-chip shortages, and stretched valuations across high-growth names.

The S&P 500 Technology sector fell more than 5% last week, while the Communication Services sector dropped more than 6%, as the AI rally faced a reality check from developments in the memory-chip market. Investors rotated into defensive sectors such as Healthcare, reflecting concerns that valuations in technology and AI-linked stocks had become too stretched.

Memory-chip makers were at the center of the volatility. Samsung Electronics, SK Hynix, and Micron Technology drew strong attention as supply shortages intensified across DRAM and High Bandwidth Memory (HBM) products. HBM is especially important for AI hardware, graphics processing units, and supercomputers, making memory availability a key constraint for the broader AI infrastructure cycle.

Last week’s tech sell-off was partly triggered by a South Korean report suggesting SK Hynix was reallocating resources and shifting focus back toward mainstream DRAM. Sentiment later improved after SK Hynix unveiled plans for a $29.4 billion Nasdaq listing, while Micron delivered strong quarterly results and upbeat guidance, with management indicating that memory supply constraints showed little sign of easing.

However, the week ended with renewed caution. Apple fell on Thursday after announcing price increases for MacBooks, iPads, and home devices to offset higher memory-chip costs. On Friday, The New York Times reported that OpenAI was considering postponing its highly anticipated IPO to 2027, adding another layer of uncertainty around the AI investment cycle.

David Laut, chief investment officer at Kerux Financial, said staying underweight technology stocks remains the preferred approach for now, as market leadership may be shifting within the sector. He noted that Magnificent Seven stocks have had a disappointing performance so far this year, while investors are searching for the next leadership group.

Deutsche Bank data also showed that technology-linked ETFs and mutual funds suffered record outflows of $9.3 billion last week, with aggregate positioning slipping to slightly below neutral. That suggests investor confidence in the tech trade has weakened, even though AI-related memory demand remains structurally strong.

Market Sentiment: S&P 500 Technology — Neutral; Communication Services — Neutral to Buy; AI Memory Stocks — Neutral to Buy

The sentiment for the S&P 500 Technology sector is Neutral, as the rebound is positive but heavy outflows, valuation concerns, and AI leadership rotation remain risks. Communication Services carries a Neutral to Buy bias after last week’s sharp decline. AI memory-linked stocks such as Micron, Samsung, and SK Hynix remain Neutral to Buy, supported by tight DRAM and HBM supply.

Possible Market Effect:

If memory-chip shortages continue, companies with strong DRAM and HBM exposure may outperform, while device makers and AI infrastructure buyers could face margin pressure. Continued tech fund outflows may limit upside in mega-cap technology stocks, but strong earnings from memory leaders could keep the AI infrastructure theme alive. A broader market rotation into small caps, international stocks, value names, and healthcare may continue if investors remain cautious on technology valuations.

Q: Why did U.S. technology and communication services stocks fall last week?

A: They fell because investors reassessed the AI trade after memory-market developments, valuation concerns, and signs of rotation away from high-growth technology stocks.

Q: How much did the S&P 500 Technology and Communication Services sectors fall last week?

A: The S&P 500 Technology sector fell more than 5%, while the Communication Services sector dropped more than 6%.

Q: Why are DRAM and HBM important for AI stocks?

A: DRAM and HBM are critical for AI hardware, GPUs, and supercomputers, so memory shortages can limit AI compute supply and raise costs across the AI infrastructure chain.

Q: How much money left technology-linked funds last week?

A: Deutsche Bank data showed record outflows of $9.3 billion from technology-linked ETFs and mutual funds last week.

Q: Are U.S. technology stocks buyable after the rebound?

A: The sentiment is Neutral. The rebound is encouraging, but investors remain cautious because of valuation pressure, record tech-fund outflows, memory-cost risks, and possible leadership rotation away from mega-cap technology.

Source: Deutsche Bank data, Kerux Financial commentary, The New York Times, company updates, and market reports.

Importance Level: High

Alphabet Inc. (NASDAQ: GOOGL) shares rose 3.7% to $350.24 on Monday, June 29, as the Google parent company began trading as a member of the Dow Jones Industrial Average, replacing Verizon Communications (NYSE: VZ).

S&P Dow Jones Indices announced the change on June 23, with Alphabet officially entering the 30-stock index before the market open on Monday. Because the Dow is a price-weighted index, Alphabet immediately became one of its more influential members due to its higher share price compared with Verizon, which had been among the index’s least influential components.

The addition increases the Dow’s exposure to major structural growth themes, including digital advertising, cloud computing, artificial intelligence, and mega-cap technology. Alphabet now joins four other Magnificent Seven companies already in the index: Nvidia, Amazon, Apple, and Microsoft.

The change also reflects the Dow’s continuing shift toward technology leaders. The previous major reshuffle came in November 2024, when Nvidia and Sherwin-Williams replaced Intel and Dow Inc.

Index funds tracking the Dow must purchase Alphabet shares to match the new composition. However, the mechanical buying impact may be limited compared with broader benchmarks, as the Dow had about $115 billion in indexed and benchmarked assets as of December 31, 2024, far below the roughly $20 trillion linked to the S&P 500, where Alphabet was already a member.

Alphabet shares had already gained about 11% this year through Friday’s close, ranking among the stronger performers within the Magnificent Seven group. Monday’s rally suggests investors viewed the Dow inclusion as another positive catalyst for the stock, alongside ongoing enthusiasm around AI, cloud growth, and digital advertising.

Market Sentiment: Alphabet/GOOGL — Buy; Verizon/VZ — Neutral to Sell

The sentiment for Alphabet is Buy, supported by Dow inclusion, index-related demand, AI exposure, and strong mega-cap technology momentum. The sentiment for Verizon is Neutral to Sell, as its removal from the Dow reduces index visibility and highlights the market’s shift away from traditional telecom toward technology-driven growth.

Possible Market Effect:

Alphabet’s inclusion could strengthen investor demand for GOOGL in the short term and increase the Dow’s sensitivity to large-cap technology moves. The change may also support broader sentiment toward AI, cloud, and digital advertising stocks. For Verizon, the removal could weigh on sentiment, especially if investors interpret it as another sign of weaker market leadership in traditional telecom.

Q: Why did Alphabet shares rise on Monday, June 29?

A: Alphabet shares rose 3.7% to $350.24 after the company officially joined the Dow Jones Industrial Average, replacing Verizon.

Q: Why is Alphabet’s addition to the Dow important?

A: Alphabet’s addition increases the Dow’s exposure to AI, cloud computing, digital advertising, and mega-cap technology, making the index more representative of today’s technology-led market.

Q: Which Magnificent Seven companies are now in the Dow with Alphabet?

A: Alphabet joined Nvidia, Amazon, Apple, and Microsoft as Magnificent Seven members inside the Dow Jones Industrial Average.

Q: Is Alphabet stock buyable after joining the Dow?

A: The sentiment for Alphabet/GOOGL is Buy. Dow inclusion, AI exposure, cloud growth, and index-related demand are supportive, though investors should still watch valuation and broader technology-sector volatility.

Source: S&P Dow Jones Indices, Reuters, and market reports.

Importance Level: High

Citi analysts updated their AI compute semiconductor stock rankings after the latest quarterly earnings season, telling investors that demand for AI compute remains undersupplied. The bank said memory availability has become one of the most important factors in determining which semiconductor companies are best positioned for the next phase of the AI infrastructure cycle.

Citi highlighted the recent 20% price increase for AWS EC2 GPU instances as evidence that AI compute supply remains tight. The analysts said DRAM memory shortages are the “biggest constraint” on compute supply, pointing to multiple long-term strategic customer agreements signed by Micron through 2030.

Because of that, Citi said its updated rankings now give the highest weight to memory supply allocation, alongside other factors such as accelerator exposure, CPU exposure, and diversified hyperscale sales.

Among mega-cap semiconductor names, Nvidia ranked first, supported by strong high-bandwidth memory partnerships. Broadcom ranked second, while Micron ranked third, reflecting its direct benefit from tight DRAM and HBM supply conditions.

Among large-cap names, AMD ranked first, with Citi noting that the company is supplied by Samsung, Micron, and CBRS, which uses a different on-chip SRAM structure compared with HBM. AMD was followed by CBRS, Intel, and Marvell Technology. Qualcomm ranked last, despite its recent high-bandwidth compute announcement, because Citi said its product uses a stack of LPDDR memory due to limited allocation until 2029.

The note reinforces a key market theme: the AI boom is no longer only about GPU demand. Memory supply, HBM availability, cloud pricing power, and long-term customer commitments are now becoming central drivers for semiconductor stock performance.

Market Sentiment: Nvidia — Buy; Broadcom — Buy; Micron — Buy; AMD — Buy; Qualcomm — Neutral to Sell

The strongest sentiment is for Nvidia, Broadcom, Micron, and AMD, because Citi’s ranking favors companies with strong AI compute exposure and better memory access. Qualcomm has a weaker sentiment because limited memory allocation may reduce its near-term competitiveness in high-bandwidth AI compute.

Possible Market Effect:

Citi’s updated ranking could support investor demand for AI infrastructure stocks, especially Nvidia, Broadcom, Micron, and AMD. Memory suppliers may remain in focus as DRAM and HBM shortages continue to shape the AI compute cycle. The note could also reinforce pressure on companies with weaker access to advanced memory supply.

Q: Why did Citi update its AI compute semiconductor rankings?

A: Citi updated the rankings because recent earnings showed that AI compute demand remains undersupplied, with memory shortages becoming a major constraint on supply.

Q: Which mega-cap semiconductor stock ranked first in Citi’s AI compute list?

A: Nvidia ranked first among mega-cap semiconductor stocks, supported by strong high-bandwidth memory partnerships.

Q: Why did Citi rank Micron highly in the AI chip cycle?

A: Citi ranked Micron highly because DRAM and HBM shortages are a key constraint on AI compute supply, and Micron has signed strategic customer agreements extending through 2030.

Q: Which large-cap semiconductor stock ranked first in Citi’s updated list?

A: AMD ranked first among large-cap semiconductor stocks, helped by its supply relationships with Samsung, Micron, and CBRS.

Q: Are AI semiconductor stocks buyable after Citi’s updated rankings?

A: The sentiment is Buy for leading AI compute and memory-exposed names such as Nvidia, Broadcom, Micron, and AMD, because Citi sees AI compute demand as still undersupplied.

Source: Citi note dated Monday, Investing.com, Business Insider, Reuters, and market reports.

Importance Level: High

J.P. Morgan raised its December 2026 targets for major European equity indexes, citing stronger earnings growth, broader market participation, and a more supportive macro backdrop. The broker said it expects further upside from current levels, ranging between 5% and 10% across key European benchmarks.

The bank lifted its Stoxx 600 target to 680 from 630, implying around 7% upside from the current level of 636. It also raised its MSCI Eurozone target to 420 from 385, suggesting 10% upside from 383. The FTSE 100 target was increased to 11,000 from 10,300, implying about 5% upside from 10,508.

J.P. Morgan also set a 2,750 target for MSCI Europe, implying 8% upside from 2,536, and raised its Euro Stoxx 50 target to 6,800, implying 9% upside from the current level of 6,222. The broker said its previous Stoxx 600 target, published in last November’s Year Ahead outlook, had already been reached after the index gained around 13% since publication.

The upgrade was mainly driven by a stronger earnings outlook. J.P. Morgan raised its Eurozone EPS growth forecast for 2026 to 18%, up from 13%, and lifted its 2027 forecast to 12%, up from 10%. For the UK, the broker raised its 2026 EPS growth forecast to 18% from 8%, while cutting its 2027 estimate to 5% from 7%.

The broker said the Eurozone’s 12-month forward P/E multiple, currently near 15x, could remain at least at current levels and may even move slightly higher. It cited lower oil prices, range-bound bond yields, and anchored inflation expectations as supportive factors.

Within Europe, J.P. Morgan noted that MSCI Spain has gained 22.3% and MSCI Italy has risen 18.1% since November 24, 2025, while MSCI Germany has lagged with a 5.4% gain, partly due to Germany’s greater exposure to geopolitical and energy shocks.

On positioning, J.P. Morgan said it remains long beta, including consumer-related stocks, and keeps a positive view on Semiconductors, Industrials, Mining, and Banks. It remains cautious on Business Services, Software, and Media, and said it is still not excited about Defense after the sector’s strong past run.

Market Sentiment: European Equities — Buy; Eurozone — Buy; UK — Neutral

The overall sentiment for European equities is Buy, supported by higher index targets, stronger EPS forecasts, and expectations for broader market participation. J.P. Morgan rates the Eurozone overweight, the UK neutral, and the U.S. neutral within developed markets, while also rating emerging markets overweight.

Possible Market Effect:

The note could support investor sentiment toward European equities, especially the Stoxx 600, MSCI Eurozone, MSCI Europe, and Euro Stoxx 50. Sector-wise, it may increase interest in banks, semiconductors, industrials, mining, and consumer plays. However, sectors such as software, media, business services, and defense may face more selective positioning.

Q: Why did J.P. Morgan raise its European equity targets for December 2026?

A: J.P. Morgan raised its targets because it expects stronger earnings growth, broader market participation, lower oil-price pressure, range-bound bond yields, and anchored inflation expectations.

Q: What is J.P. Morgan’s new Stoxx 600 target for December 2026?

A: J.P. Morgan raised its Stoxx 600 target to 680 from 630, implying around 7% upside from the current level of 636.

Q: Which European market does J.P. Morgan rate overweight?

A: J.P. Morgan rates the Eurozone overweight, while keeping the UK neutral and the U.S. neutral within developed markets.

Q: Which European sectors does J.P. Morgan prefer?

A: J.P. Morgan remains positive on Semiconductors, Industrials, Mining, Banks, and consumer-related beta plays.

Q: Are European equities buyable after J.P. Morgan’s new targets?

A: The sentiment is Buy for European equities, especially the Eurozone, because the broker sees 5% to 10% upside across major indexes and stronger earnings growth in 2026.

Source: J.P. Morgan note dated Monday and market reports.

Importance Level: Medium

Asian stock markets ended mostly mixed on Monday, June 29, with Chinese and Thai equities leading the gains, while Indian, Indonesian, Malaysian, and South Korean indices closed lower. The overall tone was cautiously positive, supported by selective risk appetite across regional markets.

The strongest performance came from Thailand’s SET Index, which rose 2.30% to 1,577.81, followed by the FTSE China 50, which gained 1.95% to 14,532.43. Hong Kong’s Hang Seng Index also advanced 1.57% to 23,026.68, while Australia’s S&P/ASX 200 added 0.68% to 8,823.40. Japan’s Nikkei 225 ended slightly higher, rising 0.15% to 69,468.11.

However, not all regional markets joined the rally. Indonesia’s IDX Composite fell 1.28% to 5,820.79, while India’s Nifty 50 declined 0.46% to 23,946.25. South Korea’s KOSPI slipped 0.20% to 8,394.65, and Malaysia’s KLCI eased 0.11% to 1,665.91. Sri Lanka’s CSE All-Share was unchanged.

Market Sentiment: Neutral to Buy

Asian equities showed a cautiously positive tone, with strong gains in China, Hong Kong, and Thailand offsetting weakness in India, Indonesia, Malaysia, and South Korea. The overall sentiment is Neutral to Buy, but not broadly bullish because the rally was uneven across the region.

Possible Market Effect:

The stronger close in China and Hong Kong may support short-term sentiment toward Asian risk assets, especially if global geopolitical risks continue to ease. However, weakness in India and Indonesia suggests investors remain selective, and regional markets may stay sensitive to U.S. dollar moves, oil prices, and global risk appetite.

Q: Which Asian stock market performed best on Monday, June 29?

A: Thailand’s SET Index was the strongest performer, rising 2.30% to 1,577.81.

Q: How did Chinese and Hong Kong stocks perform on Monday?

A: The FTSE China 50 rose 1.95%, while Hong Kong’s Hang Seng Index gained 1.57%, making them among the strongest Asian markets of the session.

Q: Which Asian markets ended lower on Monday?

A: India’s Nifty 50, Indonesia’s IDX Composite, South Korea’s KOSPI, and Malaysia’s KLCI ended lower.

Q: Is the overall sentiment for Asian stocks buyable after Monday’s close?

A: The sentiment is Neutral to Buy. Gains in China, Hong Kong, Thailand, Australia, and Japan are supportive, but weakness in several other Asian markets keeps the signal cautious.

Source: Market data shown in the screenshot.

Importance Level: High

U.S. stock index futures moved higher in early Monday trading as investors reacted positively to reports that Washington and Tehran had agreed to halt recent hostilities around the Strait of Hormuz and resume talks. The news reduced immediate fears of a wider geopolitical disruption and supported risk appetite at the start of the week.

By 20:16 ET / 00:16 GMT, S&P 500 Futures rose 0.5% to 7,435.0 points, while Nasdaq 100 Futures gained 0.5% to 29,514.75 points. Dow Jones Futures advanced 0.3% to 52,369.0 points, showing broad but cautious improvement across major U.S. equity futures.

The rebound suggests that investors are pricing in a lower near-term risk of escalation in the Persian Gulf. However, market sentiment remains fragile, as any renewed military action or disruption to shipping through the Strait of Hormuz could quickly reverse the positive tone.

Market Sentiment: Neutral to Buy

U.S. stock futures are showing a positive early reaction, supported by easing geopolitical fears. However, the sentiment is not fully bullish yet because investors are still watching U.S.–Iran talks, oil prices, and upcoming U.S. economic data.

Possible Market Effect:

If diplomatic progress continues, Wall Street may open stronger, especially in risk-sensitive sectors such as technology and consumer discretionary stocks. However, if tensions return around the Strait of Hormuz, equities could lose momentum, while oil and safe-haven assets may attract renewed demand.

Q: Why did U.S. stock index futures rise on Monday, June 29?

A: U.S. stock index futures rose because investors reacted positively to reports that the United States and Iran had agreed to halt recent hostilities around the Strait of Hormuz and resume negotiations.

Q: How much did S&P 500 Futures and Nasdaq 100 Futures rise?

A: S&P 500 Futures rose 0.5% to 7,435.0 points, while Nasdaq 100 Futures also gained 0.5% to 29,514.75 points.

Q: Is the current market sentiment for U.S. stock futures bullish?

A: The sentiment is Neutral to Buy. Futures are moving higher, but investors remain cautious because geopolitical risks around the Strait of Hormuz have not fully disappeared.

Source: Market reports, as of 20:16 ET / 00:16 GMT.

Importance Level: High

U.S. technology stocks came under renewed pressure after last week’s sharp sell-off, as investors rotated away from high-growth names amid concerns over stretched valuations and weaker momentum in artificial intelligence-related shares. The S&P 500 fell 2.0%, while the NASDAQ Composite dropped 4.6%, recording its worst weekly performance in more than a year.

Sentiment weakened further after Apple (NASDAQ: AAPL) raised prices on several MacBook and iPad models, citing rising memory-chip costs driven by strong demand from artificial-intelligence data centers. The move added to concerns that higher input costs could pressure margins across parts of the technology sector.

Investors are now watching a busy week ahead, with U.S. labor market data and second-quarter corporate updates expected to shape risk appetite. Trading volumes may be lighter than usual ahead of the U.S. Independence Day holiday, but geopolitical developments in the Middle East could remain a major driver of global market sentiment.

Market Sentiment: Neutral to Sell

The broader tech sector remains under pressure after a sharp weekly decline, especially in AI-linked and high-valuation stocks. However, investors may avoid aggressive selling before key U.S. labor data and major corporate updates.

Possible Market Effect:

The sell-off may keep pressure on the NASDAQ and high-growth technology stocks in the short term. Strong U.S. labor data could support risk appetite, while weak data or further geopolitical tension may increase demand for safe-haven assets and weigh on equities.

Q: Why did U.S. technology stocks fall last week?

A: U.S. technology stocks fell as investors rotated away from high-growth names due to concerns over stretched valuations and slowing momentum in AI-related shares.

Q: How much did the NASDAQ Composite fall last week?

A: The NASDAQ Composite dropped 4.6%, marking its worst weekly performance in more than a year.

Q: Is the current market sentiment for U.S. technology stocks positive?

A: No. The current sentiment is Neutral to Sell, as technology stocks remain under pressure, although upcoming U.S. labor data and earnings updates could change market direction.

Source: Market data and company news reports.

SpaceX will be added to the Nasdaq 100 index on July 7, Reuters reported on Friday, in a move expected to trigger billions of dollars in passive investment as index-tracking funds rebalance their portfolios.

Nasdaq confirmed the inclusion after recently easing several index eligibility requirements, including rules related to profitability, time since an IPO, and public share float. The changes make it easier for newly listed companies to qualify for the index.

SpaceX debuted on the Nasdaq on June 12 and has reported mixed financial results over the past three years. The company posted a net loss of $4.9 billion last year, but investor demand for the stock remains strong.

Funds that track the Nasdaq 100, including Invesco’s QQQ and QQQM, will need to buy SpaceX shares to reflect the company’s index inclusion. J.P. Morgan estimates that the move could generate about $4.3 billion in passive inflows.

The accelerated addition highlights strong investor appetite for SpaceX, though valuation concerns remain. Morningstar Chief Equity Market Strategist Michael Field said the fast-tracked inclusion reflects investor interest, but added that Morningstar believes SpaceX is overvalued.

SpaceX’s addition comes as other major AI companies prepare for public listings. OpenAI and Anthropic are expected to pursue IPOs over the next two years, with both potentially targeting valuations above $1 trillion.

However, SpaceX will not be eligible for the S&P 500 in the near term. Unlike Nasdaq, S&P Global said it will not relax its index rules for SpaceX, meaning the company will not be considered for S&P 500 inclusion until it has traded publicly for at least 12 months.

Importance Level: High

Possible Market Effect:

SpaceX’s Nasdaq 100 inclusion could create strong near-term demand from passive funds, especially through Nasdaq-tracking ETFs and mutual funds. The estimated $4.3 billion in passive inflows may support the stock around the inclusion date. However, valuation concerns and SpaceX’s recent $4.9 billion net loss could keep longer-term investors cautious.

Market Sentiment:

SpaceX Shares: Buy / Positive, because Nasdaq 100 inclusion could generate about $4.3 billion in passive inflows.

Nasdaq 100: Neutral to Buy, as SpaceX adds another high-profile growth name to the index.

QQQ / QQQM: Neutral, because funds will need to rebalance and add SpaceX exposure.

AI and Space-Tech IPO Market: Neutral to Buy, as SpaceX’s fast inclusion may support appetite for future OpenAI and Anthropic listings.

S&P 500 Inclusion Outlook: Neutral, because SpaceX must trade publicly for at least 12 months before being considered.

Q: When will SpaceX be added to the Nasdaq 100?

A: SpaceX is expected to join the Nasdaq 100 on July 7.

Q: How much passive inflow could SpaceX’s inclusion generate?

A: J.P. Morgan estimates the inclusion could generate about $4.3 billion in passive inflows.

Q: Why do QQQ and QQQM need to buy SpaceX shares?

A: Because these funds track the Nasdaq 100, they must adjust their holdings to reflect SpaceX’s addition to the index.

Q: Why is SpaceX not being added to the S&P 500 yet?

A: S&P Global said it will not relax its rules, and SpaceX must trade publicly for at least 12 months before being considered.

Q: Is the current market sentiment for SpaceX buy, sell, or neutral?

A: The sentiment is Buy / Positive in the short term, because passive inflows may support the stock, though valuation concerns remain.

Source: Reuters report, Nasdaq index update, J.P. Morgan estimate, and Morningstar commentary.

Goldman Sachs said artificial intelligence and digital technologies could significantly shorten development timelines and reduce costs for new oil and gas projects, improving project economics and creating opportunities for selected oilfield services companies.

According to Goldman Sachs, AI, high-performance computing, and digitalization could reduce the average development cycle for greenfield deepwater projects from about 12 years to seven years. Most of the time savings would occur before final investment decisions, through faster exploration, appraisal, seismic processing, reservoir modeling, and engineering design.

The bank said these improvements could lift the internal rate of return for a typical greenfield oil project from 15.5% to 19% by reducing capital spending, lowering operating costs, shortening development timelines, and increasing production. Project breakeven prices could also fall by about 15%.

Goldman noted that the largest efficiency gains are expected before construction begins. Once projects enter the construction phase, physical limits such as fabrication capacity and equipment lead times may restrict further improvements.

Among oilfield services companies, TGS, Vallourec, and SLB were identified as the strongest potential beneficiaries of rising AI adoption. Goldman said their proprietary data, specialized products, and digital capabilities position them well as operators invest more heavily in AI-enabled exploration and production.

By contrast, companies focused on floating production storage and offloading vessels, as well as pure subsea construction contractors, may benefit less because their operations remain more constrained by physical fabrication capacity than digital workflows.

The findings suggest AI will complement, rather than replace, existing digital technologies in the energy sector by accelerating engineering, planning, and operational decision-making.

Importance Level: High

Possible Market Effect:

Goldman Sachs’ view is positive for selected oilfield services companies with strong data, engineering, and digital capabilities. If AI reduces breakeven prices and shortens project timelines, upstream oil and gas investment could become more attractive, especially in deepwater projects. However, companies tied mainly to physical construction capacity may see more limited benefits.

Market Sentiment:

Oilfield Services: Buy / Positive, because AI adoption could improve project economics and increase demand for specialized services.

TGS / Vallourec / SLB: Buy / Positive, as Goldman Sachs identified them as key beneficiaries of AI-enabled exploration and production.

Deepwater Oil Projects: Neutral to Buy, because timelines could fall from 12 years to seven years, and breakeven prices could decline by about 15%.

Oil Majors: Neutral to Buy, because lower development costs and higher project IRRs may improve capital-allocation decisions.

FPSO and Subsea Construction Contractors: Neutral, because physical fabrication limits may reduce the direct benefit from AI adoption.

Crude Oil: Neutral, because AI may improve long-term supply efficiency, but the near-term price impact is limited.

Q: What did Goldman Sachs say AI could do for deepwater oil projects?

A: Goldman Sachs said AI and digital technologies could reduce average greenfield deepwater development timelines from about 12 years to seven years.

Q: How could AI affect oil-project returns?

A: Goldman Sachs said AI could lift the internal rate of return for a typical greenfield oil project from 15.5% to 19%.

Q: How much could project breakeven prices fall?

A: Project breakeven prices could decline by about 15%.

Q: Which companies could benefit most from AI adoption in oilfield services?

A: Goldman Sachs identified TGS, Vallourec, and SLB as the strongest potential beneficiaries.

Q: Is the current market sentiment for oilfield services buy, sell, or neutral?

A: The sentiment is Buy / Positive, especially for companies with proprietary data, specialized products, and strong digital capabilities.

Source: Goldman Sachs research on AI, digitalization, and oilfield services.