**[JPMorgan Trading Desk Turns Bullish on U.S. Stocks, Focuses on Tech and Banking Sectors]** BlockBeats News, September 28 – Ahead of the release of the U.S. September non-farm payroll report, JPMorgan's trading desk has shifted from its previous tactical neutral stance on U.S. stocks to a bullish outlook, with a focus on the technology and banking sectors. Andrew Tyler, Head of U.S. Market Intelligence at JPMorgan, stated that stronger-than-expected U.S. economic activity, resilient consumer spending, steady corporate earnings growth, and the potential stabilization of bond yields create a more favorable environment for risk assets. Tyler believes the technology sector remains the primary bullish focus, with semiconductors and the "Magnificent Seven" U.S. tech giants expected to continue outperforming, while the AI theme is far from over. In cyclical stocks, JPMorgan favors banking stocks, citing factors such as reaccelerating economic growth, a potential steepening of the yield curve, and improved capital market activity as supportive drivers. The firm also noted that with the possibility of declining oil prices and bond yields, small-cap short positions face a risk of short covering, and thus no longer recommends using Russell 2000 shorts as a direct hedge for tech longs. The next market focus will be the U.S. September non-farm payroll report, set to be released this Friday. A Bloomberg survey estimates an increase of approximately 90,000 non-farm jobs, with the unemployment rate expected to remain around 4.1%. Federal funds futures currently indicate a roughly 65% probability of another Federal Reserve rate hike in October. [Original Link]