J.P. Morgan
June 1, 2026
US Market Intelligence Afternoon Briefing
Daily UpdateEquitiesCommoditiesRates Govt BondsInformation TechnologyConsumer Discretionary
J.P. Morgan maintains a tactical bullish stance on US equities despite geopolitical tensions in the Middle East, noting an intraday reversal led by Software outperformance and short covering.
Key Takeaways
- 1.US stocks staged an intraday reversal following Trump's positive comments on Israel/Hezbollah, recovering from a selloff triggered by Iran blockade headlines.
- 2.The Software sector is seeing a massive rally as sentiment shifts from broadly bearish to nuanced, leading to short covering and right-sizing by hedge funds.
- 3.ISM-Manufacturing data showed an upside surprise in New Orders and Employment, signaling resilient demand despite inflationary headwinds.
Table of Contents
- IDEAS & INSIGHTS – IN BRIEF
- AFTERNOON UPDATES (NEWS LINKS)
- CATALYSTS TOMORROW (FULL WEEK CALENDAR)
- JPM MARKET INTEL EQUITY & MACRO NARRATIVE
- THOUGHTS ON ISM-MFG
- TRADING DESK COMMENTARY
- MISLAV: JUNE CHARTBOOK
- US MKT INTEL VIEWS
- MONETIZATION MENU
- ADDITIONAL HEDGES
- OLD MONETIZATION MENU
- NEWS LINKS
- WEEKLY ECONOMIC DATA / EARNINGS
- POLITICAL CATALYSTS
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Authors
Andrew TylerFederico ManicardiEloise GoulderBrian Heavey
Securities
SPXNDXNVDAIGVFLNC10-year US Treasury
Themes
AI Trade ExpansionMomentum Factor ReversalGeopolitical VolatilityEM Over DM (2026)
Regions
North AmericaEuropeAsia PacificUnited StatesChinaKorea