Morning Comment Norway-06/29/2026

Research evidence excerpt

Morning Comment Norway-06/29/2026

Morning Comment Norway

29 JUN 2026

Foreign markets

S&P 500 intraday

• US – US equities were mixed-to-lower on Friday as the post-Micron tech and 7,400

semiconductor names sold off into quarter-end. Investors rotated out of

megacap tech and into more cyclical pockets of the market, machinery, 7,380

transports, banks and homebuilders, helped by falling oil prices and lower 7,360

rates. The memory theme stayed in focus: sentiment around Micron remains

positive after its strong results, but caution lingered on AI competition from 7,340

China and whether elevated memory margins can hold, with Samsung and 7,320

SK Hynix set to unveil large AI investment plans early this week.

7,300

• Asia – Asian indexes are mixed this morning. South Korea’s Kospi Index

triggered a trading halt amid sharp losses in SK Hynix and Samsung 7,280 16:00 17:00 18:00 19:00 20:00 21:00

Electronics, which together account for around 60% of the index’s market

capitalization. SoftBank was also a notable decliner after reports that OpenAI

is considering delaying its IPO until 2027, with the recent SpaceX selloff US and Asia indices (at time of publication)

weighing on sentiment toward high-profile AI listings. 2.50% 2.13%

• Oil prices – Brent oil trades at USD 73.3/bbl up 0.9% since close in Oslo 2.00%

Friday. The US carried out a second wave of strikes against Iranian targets 1.50%

over the weekend, while President Trump threatened to resume the war, 1.00%

leaving the ceasefire increasingly fragile. Iran retaliated by striking a tanker 0.50% 0.17%

in the Strait of Hormuz and targets in Bahrain, while industry executives 0.00%

warned that mines in the strait could keep shipping volumes at around half -0.50% -0.09% -0.05% -0.24%

of pre-war levels for several months.