July 6, 2026
United States:
Morgan Stanley’s Wilson Sees Rotation From Chips to Hyperscalers
US stocks will struggle to reach new highs as investors rotate out of some of this year’s biggest winning technology trades, according to Morgan Stanley strategists.
The team led by Michael Wilson says momentum is fading in semiconductor stocks as investors shift toward laggards, including artificial intelligence hyperscalers.
Europe:
German Factory Orders Rebound as Iran-War Effects Fade
German factory orders rebounded, encouraging news as the effect of the conflict in the Middle East on Europe’s biggest economy begins to fade.
Demand rose 1.9% in May from a month earlier, following a revised decrease of 3.2% in April. The result exceeds the 1.1% gain seen by economists in a Bloomberg survey.
Asia:
Israel Cuts Interest Rates to the Lowest Level Since 2022
Israel cut interest rates for a second straight meeting, to the lowest level since late 2022, with a strong currency and moderate inflation expectations outweighing an anticipated pickup in growth.
The Bank of Israel lowered its base rate to 3.50% from 3.75% on Monday, in line with the median projection of a Bloomberg survey.
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