JPMorgan Chase's trading desk turns to bullish on US stocks, with a focus on the technology and banking sectors

JPMorgan Chase's trading desk has ended its tactical neutral stance on the US stock market and shifted its focus to long positions, with a particular emphasis on the technology and banking sectors. Morgan Stanley's head of US market intelligence, Andrew Tyler, stated that the current market environment is favorable for risk assets due to stronger than expected economic activity, consumer resilience, robust corporate profit growth, and stable bond yields. The bank believes that the technology sector and artificial intelligence themes still have potential, and bank stocks benefit from accelerated economic growth and steepening yield curves. At the same time, it no longer recommends using Russell 2000 index shorts as a hedge for technology bulls. The market is paying attention to the US September non farm payroll report released on Friday. (Source: Bloomberg)