This content was published on
June 9, 2026 - 00:11
3 minutes
(Bloomberg) — Asian stocks are set to rebound from their biggest drop since March, tracking gains on Wall Street, while oil was steady as Iran and Israel pledged to ease strikes that threatened peace talks in the Middle East.Equity futures pointed to a jump of more than 2% in Tokyo after the Nikkei 225 lost almost 4% on Monday, while contracts signaled a modest gain in Sydney and a subdued Hong Kong open. S&P 500 futures edged lower after a rebound in chipmakers such as Nvidia Corp. and Micron Technology Inc. triggered a gain in the US benchmark on Monday.Oil was little changed after erasing most of a spike in the previous session, as the ceasefire between Israel and Iran eased the upward pressure on crude.Following a brief pause in the rally that drove stocks to a series of all-time highs, momentum-chasing traders returned in the US on Monday, energizing bets the bull market is nowhere near its end. That sentiment was aided by the developments in the Middle East.The positioning-driven rout in equities at the end of last week was a “healthy reset,” according to Morgan Stanley’s Mike Wilson, who maintained his constructive outlook, supported by earnings and strong economic data.“Markets rarely move in a straight line at the pace seen since the March lows,” he said. “A correction was inevitable and ultimately healthy if this bull market is going to extend into year-end.”Other analysts echoed his optimism, including Citigroup Inc. strategists led by Scott Chronert, who raised their year-end target for the S&P 500 after a “big step up” in earnings expectations.“We do not expect investors to lose confidence in the AI outlook,” said Mark Haefele at UBS Global Wealth Management. “Although tech stocks have come under pressure in recent days amid concerns about whether expectations can be met, business fundamentals remain strong.”Not everyone was as bullish. Investors should exercise caution regarding US stocks as an increasing number of “bear market signposts” point to an approaching top, according to Bank of America Securities.There are “too many red flags,” strategists led by Savita Subramanian wrote in a note dated June 5. “Take profits,” they said.What Bloomberg strategists say…“S&P 500 history suggests it takes a confluence of valuation, tightened financial conditions and economic weakness to tip the balance of a bull market.”—Edward Harrison, Macro Strategist, Markets Live. For the full analysis, click here.Some of the main moves in markets:StocksHang Seng futures were little changed as of 7:03 a.m. Tokyo time S&P/ASX 200 futures rose 0.3% Nikkei 225 futures rose 2.5% CurrenciesThe Bloomberg Dollar Spot Index was little changed on Monday CryptocurrenciesBitcoin rose 0.1% to $63,544.46 Ether rose 0.5% to $1,697.19 BondsThe yield on 10-year Treasuries advanced three basis points to 4.56% CommoditiesSpot gold was little changed West Texas Intermediate crude rose 0.2% to $91.52 a barrel This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
