Report published September 29, 2026
US Market Intelligence Afternoon Briefing: J.P. Morgan Desk Shifts Tactically Bullish (September 29, 2026)
J.P. Morgan · September 29, 2026
J.P. Morgan US Market Intelligence returns to a Tactically Bullish stance on US equities, recommending unhedged Tech longs as bond yields stabilize and energy prices ease. Markets closed mixed with AI and tech outperforming while the desk monitors upcoming PCE inflation data and Micron earnings.
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Finvaulta summarizes J.P. Morgan's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.US Market Intelligence returns to a Tactically Bullish view on US equities, driven by stabilizing bond yields, anticipated lower oil prices, solid macro fundamentals, and resilient earnings.
- 2.The desk recommends holding Tech as a core Long but removing the Russell 2000 (RTY) short leg due to squeeze risk if bond yields and oil decline.
- 3.J.P. Morgan Commodities Research sees Brent oil fair value closer to $90/bbl (and WTI under $80/bbl) compared to current levels of $104/bbl as Middle East export volumes recover.
Table of Contents
- IDEAS & INSIGHTS – IN BRIEF
- AFTERNOON UPDATES (NEWS LINKS)
- CATALYSTS TOMORROW (FULL WEEK CALENDAR)
- JPM MARKET INTEL EQUITY & MACRO NARRATIVE
- TOMORROW / LATER THIS WEEK
- TRADING DESK COMMENTARY
- US MKT INTEL VIEW – Below were published in the September 28th Morning Briefing
- NEWS LINKS
- WEEKLY ECONOMIC DATA / EARNINGS
- AI / TECH CATALYSTS
- POLITICAL CATALYSTS
Report data
Figure 1: Total oil flows from the Middle East — as of September 29, 2026.
| Metric | Estimate | Context |
|---|---|---|
| WTI Crude Price | 89.12 USD/bbl | Spot closing price on September 29, 2026. |
| 10-Year US Treasury Yield | 5.253% | 10-year yield intraday close level. |
| Core PCE Deflator Forecast (m/m) | 0.25% | J.P. Morgan Economics forecast for August core PCE deflator. |
| Personal Saving Rate Forecast | 2.5% | Projected August US personal saving rate. |
Reports in this series
US Market Intelligence Afternoon Briefing is shown in chronological order through this edition, published on September 29, 2026.
Part of the US Market Intelligence Afternoon Briefing series — view all 32 editions
Looking for the latest edition? JPM US Market Intelligence Afternoon Briefing Oct 6 (Oct 6, 2026)
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