Market Intelligence: US Morning Update

Research evidence excerpt

Market Intelligence: US Morning Update

Equity Research

30 June 2026 | 8:42AM EDT

Click “here” to listen to the US Morning Call. Chris Hussey

+1(212)902-7564 |

chris.hussey@gs.com

Stocks in Asia were mostly higher on Tuesday, except in Hong Kong where weakness Goldman Sachs & Co. LLC

in internet stocks persisted. However, tech-oriented Japan, Korea and Taiwan posted Sarah Herr

+1(212)357-0094 | sarah.herr@gs.com

gains on positive cues from US markets. Sentiment in China was also bolstered by an Goldman Sachs & Co. LLC

increase in official manufacturing and non-manufacturing PMIs (see “China: Both Kshitij Garg

official manufacturing and non-manufacturing PMIs rose in June”). In Japan, +1(212)934-7434Goldman Sachs India| kshitij.garg@gs.comSPL

industrial production rose for a second consecutive month (see “Japan: May

Production Rises for Second Straight Month, In Line With Market Forecast‘), while it

declined in Korea, alongside weak consumption and mixed investment data (see

“South Korea: A Surprise Contraction in IP, Weak Consumption, and Mixed

Investment in May“).

European equities are also trading higher amid tech strength and

weaker-than-expected inflation in France. Our economists nudged down Euro area

headline and core inflation forecasts (see “Euro Area: French Inflation Below

Expectations; Revising Down Our Area-Wide Tracking“). They continue to expect the

ECB to hike in September, but note that the hurdle for a hold is now low given

reduced inflationary pressures from energy prices (see Jari Stehn’s “ECB—Hike or

Hold?“).

Yields on 10-year US Treasuries remain anchored at 4.37%, while front month Brent

oil edged up, but remains below $75/bbl amidst a swift ramp up in Hormuz flows

(see “Oil Comment: Gulf Exports: 2 Steps Forward, 1 Step Back“).