Morning Comment Norway-07/01/2026

Research evidence excerpt

Morning Comment Norway-07/01/2026

Morning Comment Norway

1 JUL 2026

Foreign markets S&P 500 intraday

7,520

• US – US equities traded higher on Tuesday, nearing all time high with S&P 7,510

and Nasdaq closed out their best quarter in six years. June consumer 7,500

confidence came in at 91.2, below consensus at 94.4 but slightly above the 7,490

downwardly revised May reading of 90.6. Labour-market perceptions also 7,480

worsend, with the share of respondents reporting that jobs were hard to get

7,470

rising to its highest level in more than five years. Meanwhile, May JOLTS job

7,460

openings came in at 7.59m, well above consensus at 6.98m and broadly

7,450

unchanged from the revised April level of 7.59m, indicating continued

7,440

resilience in labour demand.

7,430

• Asia – Asian indexes are mixed this morning, with limited major news from 16:00 17:00 18:00 19:00 20:00 21:00

the region. The Japanese yen weakened to its lowest level against the US

dollar in nearly 40 years, driven mainly by continued dollar strength and US and Asia indices (at time of publication)

expectations that US interest rates will remain elevated. The absence of clear 1.80%

intervention signals from Japan’s Ministry of Finance has also encouraged 1.60% 1.52%

further yen selling. 1.40%

• Oil prices – Traffic through the Strait of Hormuz is gradually recovering, with 1.20% 1.08%

around 24 commodity vessels, including oil and LNG carriers, transiting the 1.00% 0.79% 0.86%

strait in both directions on Monday, according to Kpler. Iranian officials said 0.80%

talks with Oman on redefining transit routes are expected to begin in the 0.60%

coming days, while Qatar is also coordinating with Oman to secure safe 0.40% 0.26%

passage. Gulf production and exports are recovering, with Kuwait’s oil output 0.20%