Report published September 29, 2026
US Market Intelligence Morning Briefing: J.P. Morgan Shifts to Tactically Bullish
JPMorgan Chase · September 29, 2026
J.P. Morgan Market Intelligence has returned to a Tactically Bullish stance on US equities as macroeconomic growth resilience outweighs inflation concerns and bond yields stabilize. The desk recommends core long positioning in MegaCap Tech, Semis, and Banks, while removing short Russell 2000 hedges due to squeeze risks.
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Finvaulta summarizes JPMorgan Chase'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.J.P. Morgan Market Intelligence has shifted back to a Tactically Bullish view on US equities, unwinding the short RTY hedge previously paired against long Tech due to squeeze risks from stabilizing bond yields and declining oil prices.
- 2.Economic growth is expected to outweigh inflation concerns, driven by resilient consumer spending, strong nominal GDP supporting corporate earnings, and an improving labor market.
- 3.Q3 2026 earnings are projected to deliver 11.9% revenue growth and 28.9% EPS growth with 15.0% margins, marking the third consecutive quarter of 10%+ revenue growth and 25%+ EPS expansion.
Table of Contents
- IDEAS & INSIGHTS – IN BRIEF
- JPM MARKET INTEL MORNING UPDATES
- CATALYSTS TODAY (WEEK AHEAD)
- JPM MARKET INTEL EQUITY & MACRO NARRATIVE
- US MKT INTEL VIEW
- ADDITIONAL THOUGHTS
- NEWS LINKS
- WEEKLY ECONOMIC DATA / EARNINGS
- US CALENDAR
- GLOBAL CALENDAR
- AI / TECH CATALYSTS
- POLITICAL CATALYSTS
Report data
MU F4Q26 and F1Q27 Estimates & Survey Mean vs Guidance
| Metric | Estimate | Context |
|---|---|---|
| 10-Year US Treasury Yield | 5.243% | Morning level for benchmark Treasury yields |
| WTI Crude Oil Price | 92.54 USD/bbl | Oil price trading near flat in morning pre-market |
| CBOE Volatility Index (VIX) | 16.13 index points | Implied volatility reading |
| Gold Price | 4141.0 USD/oz | Pre-market commodity performance showing moderate bid |
| S&P 500 Q3 2026 Estimated Revenue Growth | 11.9% | Consensus revenue growth expectation for S&P 500 |
Reports in this series
US Market Intelligence Morning Briefing is shown in chronological order through this edition, published on September 29, 2026.
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