The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1106 GMT - Investor sentiment has improved as markets assess the possibility of further de-escalation between the U.S. and Iran, whether through a broader agreement or an extension of the ceasefire, Columbia Threadneedle Investments' Anthony Willis says in a note. The move lower in oil prices "indicates that markets are placing greater weight on a scenario in which immediate supply risks begin to recede," the senior economist says. This matters for broader markets because lower oil prices reduce the risk that the conflict has on inflation or growth expectations, he says. "For now, markets appear willing to look through near-term headline volatility, reflecting a view that both sides may be moving towards a more durable framework," Willis says. (emese.bartha@wsj.com)
1103 GMT - Ferrari could be about to launch a new model with a manual gearbox, which would improve the automaker's product mix and help it comfortably exceed its 2026-30 growth targets, Bernstein analysts write. Reports suggest the new manual version of its 12Cilindri could be shown during a driving rally hosted by the company from June 29 to July 6, Bernstein adds. The bank says this could be one of the four new vehicles Ferrari has promised to unveil this year. Ferrari has not built a road car with a manual transmission since 2012, but in recent years the most prestigious segments of the automotive industry have seen a resurgence in demand for supercars with manual gearboxes. Shares fall 1.1%. (dominic.chopping@wsj.com)
1055 GMT - International Business Machine's ability to drive profitable growth across new and existing business verticals seems solid, Wedbush analysts say. "SaaSpocalypse fears" are now in the rear view mirror, they add, referring to concerns that AI tools will hurt software company's revenue. "IBM remains a primary beneficiary of increasing global investments to build out AI infrastructure as the company looks to further expand its footprint globally by leveraging its scalable and open foundation to innovate at a rapid pace to meet growing demand across hybrid cloud and AI," the analysts write in a research note. They add that quantum computing is still in its infancy, and that IBM is looking to maintain its position as a leader in providing quantum computing infrastructure. Wedbush maintains IBM's stock outperform rating, and raises its price target to $350 from $320. (connor.hart@wsj.com)
1047 GMT - India's central bank is likely to stand pat in June, economists at Pantheon Macroeconomics says in a note. The Reserve Bank of India's 2%-6% CPI target range seems very secure despite the fuel-price rises since mid-May, and a breach of this range is unlikely until end-2027, they say. The RBI also still has more than enough FX reserves to help the rupee, and the central bank doesn't seem worried about the rupee's recent depreciation yet, they add. For now, India's GDP for the fiscal 1Q is likely to show an economic growth slowdown just as the Middle East broke out, the economists say. (kimberley.kao@wsj.com)
1031 GMT - JPMorgan Chase's U.K. consumer banking profits will catch up with its peers in the country once it stops spending so much on expansion, UBS analysts write. Spending on expanding its presence in the U.K. market will take precedence in the near term. But margins will improve once the bank has a wide pool of lower-cost deposits, in turn improving the competitiveness of its return on tangible equity, a key metric for banks that measures how efficiently they use their assets, the analysts write. JPMorgan's efforts in the U.K. will be helped by a government rule change allowing banks to accumulate more in deposits before needing to split retail and investment banking operations, the analysts add. (josephmichael.stonor@wsj.com)
1028 GMT - Currencies in South Korea, Japan and Taiwan are underperforming, contrasting with strong AI-driven equity gains in these markets, Vishnu Varathan of Mizuho Securities Singapore writes in a note. The dissonance is likely due to net foreign-equity outflows from Korea and Taiwan, and constrained current-account dynamics in Japan, he says. Political-fiscal risks are also taking precedence. Supply-side shocks from the U.S.-Iran conflict, particularly with the Strait of Hormuz blocked, are hurting the currencies given their economies' disproportionate energy reliance and risks of industrial input disruptions, he adds. While downward pressures on the currencies could easily reverse if Iran risks are alleviated, the significant uncertainty means the drag will be hard to avoid, he says. (kimberley.kao@wsj.com)
1028 GMT - Meituan may continue to benefit from an improved earnings outlook, according to HSBC analysts in a research note. The pace of loss in Meituan's food delivery segment has slowed, the analysts note. More importantly, Meituan maintained above 70% market share in volume and over 60% in gross transaction volume--for orders with over 30 yuan average in value, they say. HSBC expects Meituan's food delivery segment to almost break even in 2Q, adding that "the worst is behind Meituan." HSBC maintains a buy rating with a target price of HK$104.00 per share, which last traded at 9.3% higher at HK$85.50. (tracy.qu@wsj.com)
1027 GMT - Amazon's biggest event of the summer is coming early this year. Prime Day returns June 23 to June 26, offering members deals across top brands, trending products and Amazon-exclusive items. Savings will span big-ticket items, with up to 40% off TVs; summer equipment, with up to 30% off patio and outdoor entertaining, trampolines, playsets and lawnmowers; and back-to-school, with up to 40% on laptops and dorm-room essentials. "The incomparable value of Prime keeps growing, and this year is no exception," says Jamil Ghani, vice president of Amazon Prime. "I can't wait for members to enjoy all that Prime Day has to offer." (connor.hart@wsj.com)
1027 GMT - Ether could rise further against bitcoin after Strategy sold bitcoin holdings for the first time since 2022, Standard Chartered's Geoff Kendrick says in a note. Strategy said Monday that it sold 32 bitcoin last week for about $2.5 million. "I see yesterday as being the start of ether outperformance versus bitcoin." While small, Strategy's selling highlights the different business models of bitcoin digital asset treasury $(DAT)$ companies compared to ether DATs, he says. Ether has a 3% staking yield so there is no need for ether DATs to sell the cryptocurrency, which is different to bitcoin DATs. Ether versus bitcoin rises to a near three-week high of 0.0284530, according to LSEG, and Standard Chartered expects it to reach 0.040 by year-end. (renae.dyer@wsj.com)
1001 GMT - Renault's new-car registrations in France were weak at the start of the second quarter, according to figures from French auto association PFA, UBS analyst David Lesne writes. The data should be a good proxy for Renault's financial performance as France represents Renault's largest market with around 25% of its global sales. Renault brand passenger car sales declined by 11% on year in April and May combined and UBS estimates the Renault brand lost around 2.3 percentage points of market share, reaching 16.2% in April and May combined. Sales of Dacia brand cars declined by almost 4% in April and May combined. "Q2 has started on a rather weak note," Lesne says. "Having said this, June is typically the most important month of the quarter." Shares fall 2.6%. (dominic.chopping@wsj.com)
0916 GMT - China's latest factory activity data suggests demand remains weak, according to BofA Securities in a research note. The May PMIs suggest growth remains supported by supply-side resilience while demand stays fragile, the economists say. "Manufacturing is holding up for now but gradually losing momentum," they say. Broader activity remains sensitive to weak demand and cost pressures, they note. Investors are closely watching the upcoming release of May activity data. Continued softness could make policymakers reassess conditions and recalibrate policy support, they say. (tracy.qu@wsj.com)
0915 GMT - Stellantis has unveiled ambitious 2028 and 2030 financial targets, which are materially ahead of consensus expectations, Berenberg analyst Romain Gourvil writes. The company's plan involves restoring profitability through operational efficiencies, focusing on core brands, product renewal and stronger regional delivery, while also relying heavily on a significant volume recovery in the U.S. The plan would see the U.S. comprise about 55% of group profit. Stellantis is guiding for North American margins to return to 8%-10% by 2030, from operating losses in 2025, alongside 25% revenue growth. "However, the implied circa 35% volume growth assumptions may initially be met with scepticism by investors due to the softer industry growth environment." Berenberg maintains its buy rating and 7.80 euros price target on the stock. Shares rise 0.4% to 6.70 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
June 02, 2026 07:07 ET (11:07 GMT)
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