Daily Market Report – June 29, 2026

Markets

At the end of the first half of the year, risk appetite remains intact but selective. In Asia, semiconductor and AI stocks primarily drove the movement: Nikkei 225 (NI225) +1.6%, Kospi (KOSPI) +3%, supported by Samsung (005930) and SK Hynix (000660). China's industrial PMI rose to 50.3 in June; this is sufficient for expansion but not for an all-clear signal, as domestic consumption and the real estate sector remain weak.

On Wall Street, the S&P 500 (SPX) (SPX) and Nasdaq 100 (NDX) maintained their gains; the AI complex around Nvidia (NVDA), AMD (AMD), and Micron (MU) remains the pace setter. Europe appears more cautious: the Stoxx Europe 600 (SXXP) and DAX (DAX) follow the global tech momentum, but without breadth. Oil is declining: Brent (UKOIL) is around 72 dollars, as geopolitical risk premiums are being reduced. Gold (GOLD) is suffering from a strong dollar (DXY) and higher US interest rate expectations.

Companies & Earnings Season

The earnings season is still thin, but today the first consumer and margin signals are coming in. Nike (NKE) reports after market close; crucial factors are North America, inventory levels, gross margin, and the outlook. Constellation Brands (STZ) provides insights into pricing power in the US consumer goods sector. Progress Software (PRGS) is smaller, but relevant for software valuations.

In Europe, J Sainsbury (SBRY) presents a trading update. In technology stocks, the market remains tightly controlled: ASML (ASML), STMicroelectronics (STMPA), Infineon (IFX), and SAP (SAP) benefit from the global AI theme, while cyclical stocks show less momentum.