Tech Stocks Rebound; US, Iran Halt Attacks; South Korea's Big AI Push | Bloomberg Brief 6/29/2026

Watch on YouTube ↗  |  June 29, 2026 at 11:17  |  43:26  |  Bloomberg Markets
Speakers
Chloe Meley — Reporter, Bloomberg
Ella Gude — Head of Fixed Income and CO-Head of Real Return, BNY Investments Newton
Winnie — Anchor

Summary

US equity futures bounce after a tech selloff as investors await the jobs report and Fed Chair Warsh's appearance. The US and Iran halt attacks and plan peace talks, easing oil supply fears. South Korea pledges $880 billion in AI chip and data center investments led by Samsung and SK Hynix, boosting semiconductor suppliers. BNY's Ella Gude discusses positioning in 5-year Treasuries, European and UK equities, and sectors like energy, health care, and industrials.

  • US equity futures rebound after the prior week's tech rout; focus on upcoming jobs data and Fed Chair Warsh's public remarks.
  • US and Iran agree to pause attacks and resume technical talks this week, reducing near-term oil supply disruption risks.
  • South Korea announces an $880 billion AI infrastructure plan with Samsung and SK Hynix, aiming to build chip fabs and data centers over a decade.
  • The Korean AI push lifts US semiconductor equipment and supplier stocks including Lam Research, Applied Materials, and Qualcomm.
  • The ECB Forum in Sintra begins with President Lagarde speaking; markets watch for policy signals alongside Warsh's first international appearance.
  • Ella Gude of BNY Investments Newton outlines buying the 5-year Treasury belly, overweighting European/UK equities, and favoring energy, health care, and industrials for real return.
  • Oil prices remain subdued as the US-Iran ceasefire holds, but intermittent flare-ups keep the Strait of Hormuz passage uncertain.
  • Front page stories highlight AI-driven dealmaking in US power/utilities and record margin debt levels fueling stock market risks.
Ideas
Chloe Meley Reporter, Bloomberg 4:38
South Korea AI capex lifts US suppliers
South Korea's massive $880 billion AI investment pledge by Samsung and SK Hynix will boost demand for U.S. semiconductor equipment and component suppliers, lifting stocks such as Lam Research, Applied Materials, and Qualcomm that directly supply these firms.
LRCX AMAT QCOM MED
Ella Gude Head of Fixed Income and CO-Head of Real Return, BNY Investments Newton 24:56
Buy 5-year Treasury, ride Warsh era
The firm closed underweight duration positions and started buying the 5-year U.S. Treasury (belly of the curve) as a sweet spot to ride out the early Warsh Fed era, while remaining cautious due to structurally higher inflation.
5-Year U.S. Treasury MED
Ella Gude Head of Fixed Income and CO-Head of Real Return, BNY Investments Newton 27:27
Overweight European and UK equities
European equities are relatively underpriced versus U.S. equities, will benefit from structural capex build-up and a potential reversal of capital flows, and any re-pricing of the extended AI trade will favor Europe and the UK on a relative basis.
EWU VGK MED
Ella Gude Head of Fixed Income and CO-Head of Real Return, BNY Investments Newton 30:05
Favor energy sector for real return
The energy sector has been favored for over a year, remains well protected regardless of Middle East tensions, and benefits from steep curves and favorable cyclical policy rates.
XLE MED
Ella Gude Head of Fixed Income and CO-Head of Real Return, BNY Investments Newton 30:31
Health care and industrials supportive
Health care and industrials sectors are supportive in equities as part of a real return allocation in the current environment.
XLV XLI LOW
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This Bloomberg Markets video, published June 29, 2026, features Chloe Meley, Ella Gude discussing LRCX, AMAT, QCOM, 5-Year U.S. Treasury, EWU, VGK, XLE, XLV, XLI. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Chloe Meley, Ella Gude  · Tickers: LRCX, AMAT, QCOM, 5-Year U.S. Treasury, EWU, VGK, XLE, XLV, XLI