The Morning Bull – US Market Morning Update Thursday, Jul, 2 2026
US stock futures are pointing slightly lower this morning, with E mini S&P 500 contracts down about 0.3% and Nasdaq 100 futures off around 0.6%, as investors weigh firm US bond yields against mixed global growth signals. The US 10 year yield is sitting near 4.46%, which keeps borrowing costs relatively high for households and companies. At the same time, manufacturing scorecards in Europe and Asia mostly sit just above or below the growth line, hinting at only modest factory momentum worldwide. The core question now is whether higher for longer borrowing costs will pressure interest sensitive areas like real estate and utilities more than they support financially stronger sectors such as large industrial and technology stocks.
With borrowing costs staying high, focus on solid balance sheet and fundamentals stocks screener (47 results) that could better handle prolonged rate pressure.
Top Movers
- Bending Spoons (BSP) jumped 39.66% after completing its US$1.68b IPO of ordinary shares.
- Reddit (RDDT) gained 13.93% following its addition to key stock indices.
- AppLovin (APP) rose 9.58% as traders reacted to recent bullish analyst coverage and upcoming earnings.
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Top Losers
- Nebius Group (NBIS) fell 17.01% after reports that Meta’s potential cloud plans could increase competition for neocloud providers.
- CoreWeave (CRWV) declined 13.92% as analysts highlighted competitive risks from Meta’s prospective AI cloud infrastructure push.
- Corning (GLW) declined 13.62%.
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On The Radar
With a quiet US calendar, global manufacturing PMIs and bond yield moves are likely to shape near term sentiment.
- Global Manufacturing PMIs: Fresh June readings across Europe and Asia on Thursday, highlighting where factory activity is firm or softening.
- US 10 year yield: The yield near 4.46% on Thursday, framing borrowing costs for mortgages, corporate debt and equity valuations.
- Japan 10 year yield: Around 2.7% on Thursday, offering a read on how tighter policy expectations affect global rate differentials.
- India 10 year yield: Around 6.74% on Thursday, giving context on foreign inflows into emerging market debt and relative yield appeal.
- Tower Semiconductor (TSEM): Annual general meeting on Thursday, with attention on board elections and proposed changes to compensation policy.
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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.
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