☀️ Premarket Briefing | Monday, June 29, 2026

Good morning traders and investors,

Welcome to a new trading week. After a difficult week for many of the market's largest technology names, futures are pointing to a strong rebound to start Monday's session. The early strength is being driven primarily by technology, while investors also appear encouraged by easing geopolitical tensions following a volatile weekend.

Although last week's selling pressure weighed heavily on the major averages, there were signs beneath the surface that the broader market remained healthier than the headlines suggested. That will be something worth watching closely today as traders determine whether this morning's rally has enough participation to build momentum beyond the opening bell.

📈 Futures Signal a Strong Rebound

As of this morning:

• S&P 500 Futures: +59

• Nasdaq Futures: +366

Technology stocks are leading the advance after suffering significant weakness throughout much of last week. The semiconductor group was one of the biggest sources of pressure during the previous week, helping push the S&P 500 lower by roughly 2%.

However, one important detail shouldn't be overlooked.

While the traditional market-cap weighted S&P 500 struggled, the equal-weighted S&P 500 gained 1.6% last week. That tells us investors weren't abandoning equities altogether. Instead, money rotated away from some of the mega-cap leaders and into other sectors of the market.

Today's session will help determine whether buyers are willing to rotate back into technology or continue favoring broader market participation.

🌍 Geopolitical Tensions Ease

Geopolitics remain part of today's conversation after the United States and Iran exchanged military strikes over the weekend.

The market appears to be focusing on the more constructive development that followed.

Both countries have agreed to refrain from additional strikes ahead of a fresh round of diplomatic talks scheduled for Tuesday.

Markets generally dislike uncertainty, so any signs that tensions are cooling can remove one source of investor anxiety, even if the situation remains fluid.

📅 Quiet Economic Calendar Today

Monday begins the week with no scheduled U.S. economic reports, allowing investors to focus almost entirely on market positioning, corporate headlines, and geopolitical developments.

Although today is quiet, there will be several economic releases arriving throughout the remainder of the week that could influence market direction.

💼 Earnings Season Slows Down

This will be one of the lighter weeks of earnings reporting.

Only a handful of S&P 500 companies are scheduled to report, with Nike drawing much of the attention as investors continue watching consumer spending trends and retail demand.

With earnings activity slowing, macro headlines and sector rotation may play a larger role in determining market direction over the next several sessions.

📰 Corporate Headlines

🍎 Apple Exploring Chinese Memory Supplier

Reports indicate Apple is looking to purchase memory chips from China's CXMT.

Any changes within Apple's supply chain tend to attract significant investor attention because of the company's enormous purchasing power and its influence throughout the semiconductor industry.

🤖 Google Places Limits on Meta's AI Usage

According to reports, Google has placed limits on Meta Platforms' use of its Gemini AI models.

Competition among the largest AI developers continues to intensify as companies increasingly protect access to their proprietary models while simultaneously expanding their own artificial intelligence ecosystems.

📡 SpaceX and Charter Discuss Mobile Partnership

Bloomberg reports that SpaceX and Charter Communications have discussed a potential mobile phone partnership.

Any collaboration involving SpaceX typically receives close attention given the company's growing role in satellite communications and wireless connectivity.

🌏 Overseas Markets

Asian markets finished mostly higher to begin the week.

China continued to recover, helped by strong gains in biotechnology shares. Hong Kong's Hang Seng Biotechnology Index surged 6.7%, marking its largest one-day gain in more than four years.

China also announced several policy developments, including adding 20 Japanese companies to its export control list while the People's Bank of China conducted overnight repurchase operations for the first time.

Japan delivered another encouraging economic report as May retail sales grew 5.3% year over year, significantly above expectations.

South Korea remained one of the weaker markets as continued pressure on Samsung and SK Hynix weighed on the Kospi.

European markets are trading modestly lower this morning with most major indices hovering just below unchanged levels.

👀 My Take

This morning's futures certainly look encouraging after last week's difficult finish, but today's real test begins once the opening bell rings.

The biggest question isn't whether the market can open higher. It's whether technology can attract sustained buying throughout the session after last week's heavy selling. We've seen several strong starts recently fade as the day progressed, so I'll be paying close attention to whether buyers continue stepping in beyond the first hour.

It's also worth remembering that last week's weakness wasn't universal. The equal-weighted S&P quietly outperformed, suggesting the market was rotating rather than collapsing. If technology stabilizes while broader participation remains healthy, that would be a constructive combination heading into the shortened holiday week.

With no economic reports scheduled today, market direction will likely be driven by investor positioning, corporate headlines, and any developments surrounding Tuesday's planned talks between the United States and Iran.

As always, let the market come to you rather than forcing trades early in the session.

📊 Stocks in Focus

AAPL: Reports indicate Apple is exploring purchasing memory chips from China's CXMT, a development that could have implications for its semiconductor supply chain.

GOOG: Google reportedly limited Meta's access to its Gemini AI models, highlighting the increasingly competitive landscape among major artificial intelligence developers.

META: Shares are active after reports that Google restricted Meta's use of Gemini AI technology.

NKE: Nike will be one of the week's key earnings reports as investors monitor consumer demand and retail spending trends.

CHTR: Charter Communications is gaining attention following reports of discussions with SpaceX regarding a potential mobile phone partnership.

SPCX: SpaceX is reportedly exploring a partnership with Charter that could expand its presence in mobile communications.