The Morning Bull - US Market Morning Update Friday, Jun, 26 2026

US stock futures are pointing higher this morning, with E mini S&P 500 contracts up about 0.7% and Nasdaq 100 futures gaining just over 2%, as investors focus on fresh clues about inflation and borrowing costs. The key driver is the PCE inflation report, where price growth in May is expected at 4.1% for the headline measure and 3.4% for the core figure, raising questions about how quickly the cost of living is easing. At the same time, the 10 year US Treasury yield is near 4.4%, a 6 week low, which matters for mortgage costs and growth stocks. The main question now is how sectors that depend heavily on cheap borrowing, such as technology and housing related stocks, might react if inflation stays firm while bond markets hint at slower rate moves.

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Top Movers

• Sandisk (SNDK) jumped 21.97% after Citi raised its price target, citing tight NAND conditions.
• Micron Technology (MU) gained 15.74% following a Q3 earnings beat and a wave of analyst target hikes.
• Applied Materials (AMAT) rose 13.42% after new AI focused chipmaking systems and higher analyst price targets.

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Top Losers

• Trip.com Group (TCOM) declined 12.55% after softer Q2 revenue guidance and multiple analyst price target cuts.
• Honeywell Aerospace (HONA.V) declined 9.79%.
• Strategy (MSTR) declined 9.35%.

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On The Radar

Global central bank speeches and fresh manufacturing data will shape how traders think about inflation and growth over the next few sessions.

• Fed policy tone: Fed Barkin Speech on Sunday will give more color on the PCE inflation backdrop.
• US factory pulse: Dallas Fed Manufacturing Index on Monday tracks production momentum that feeds into earnings expectations.
• Euro area rates: ECB President Lagarde Speech on Monday could clarify how firmly Europe is leaning toward looser policy.
• Japan demand check: Japan Retail Sales YoY on Sunday offers a read on consumer spending in a key export market.
• Housing signal: Japan Housing Starts YoY on Monday helps frame global construction and materials demand after US housing data.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.