J.P. Morgan
June 25, 2026
US Market Intelligence Morning Briefing
Daily UpdateEquitiesRates Govt BondsCommoditiesInformation TechnologyConsumer Discretionary
J.P. Morgan maintains a 'Tactically Bullish' stance, bolstered by strong earnings from Micron and positive AI sector sentiment. The team highlights a tactical barbell strategy between high-growth Tech and consumer-oriented Cyclicals.
Key Takeaways
- 1.JPM maintains a Tactical Bullish view on the US market, focusing on AI/Tech and specific Cyclical sectors.
- 2.Micron (MU) earnings exceeded expectations, driven by 16 Strategic Customer Announcements (SCAs) expected to support revenue visibility.
- 3.Dubravko increased the year-end S&P 500 price target to 7,800, driven by unprecedented earnings growth upgrades.
Table of Contents
- IDEAS & INSIGHTS – IN BRIEF
- JPM MARKET INTEL MORNING UPDATES
- CATALYSTS TODAY (WEEK AHEAD)
- JPM MARKET INTEL EQUITY & MACRO NARRATIVE
- BULL / BEAR RATIO vs. SPX
- MAG7 CAPEX vs. SOX PRICE INDEX
- DUBRAVKO / BRAM: MID-YEAR OUTLOOK
- US MARKET INTEL VIEW
- NEWS LINKS
- WEEKLY ECONOMIC DATA / EARNINGS
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Authors
Andrew TylerFederico ManicardiEllen WangVictoria Campos
Securities
MUSPXGOOGLMSFT
Themes
AI/Tech LeadershipImmaculate DisinflationStrategic Customer Agreements (SCAs)Mid-Cycle Economic Conditions
Regions
North AmericaEuropeAsia PacificUnited StatesJapanGermany