Market Updates

15 June 2026 – Daily Market Updates Global Market Briefing | Monday, June 15, 2026 Overview Risk appetite is firm at the start of the week. A thaw in Middle East tensions has eased supply fears, pushing crude lower and lifting equities and government bonds. The focus now shifts from last week’s IPO fireworks to a heavy central-bank calendar headlined by the Federal Reserve midweek. Cross-asset snapshot Equities: US equity futures point higher and Europe is in the green, with cyclical areas outperforming while energy lags on softer oil. Asia finished strongly, led by North Asia. Rates: Core government bonds are bid and yields are a touch lower across the curve as markets lean into a calmer inflation impulse from cheaper energy. Credit: Spreads are a shade tighter alongside the risk-on tone; primary markets remain active into quarter-end. FX: Pro-growth currencies are firmer versus the dollar, while haven FX is mixed. The euro edges up, sterling steady ahead of UK data, and select Asian currencies gain on improved sentiment. Commodities: Oil retreats on de-escalation hopes and improved shipping outlooks; gold consolidates; industrial metals catch a tailwind from the cyclical bid. What’s driving the move Geopolitics: Signs of progress toward reduced friction in the Middle East have taken the edge off the recent energy risk premium, helping equities and duration simultaneously. Liquidity and sentiment: A strong reopening of the new-issue window and healthy risk appetite are broadening market participation beyond mega-cap leaders. Inflation path: A pullback in fuel prices, if sustained, could filter into headline inflation and freight costs over the coming weeks, supporting the “soft-landing” narrative. Equities Leadership: Travel and leisure, consumer discretionary, and select materials/mining names are catching a bid. Energy, and to a lesser extent utilities, trail the tape as oil slips. Tech and listings: Enthusiasm around AI infrastructure and recent high-profile listings remains a tone-setter, but attention is rotating back to macro and policy this week. Breadth and flows: Futures positioning suggests improved breadth with small- and mid-caps participating; watch whether that extends beyond the open and into the close. Fixed income US Treasuries: Yields are a few basis points lower in early trade, with modest bull-flattening as front-end stays tethered to policy expectations while the long end benefits from growth/inflation relief. Europe: Core and semi-core sovereigns firm; periphery stable with spreads slightly tighter. UK gilts in focus ahead of inflation data and the BoE. Credit: Investment-grade supply remains steady; high yield benefits from the risk-on tone, though dispersion is elevated in energy. FX USD: Slightly softer against a basket as yield differentials narrow. Focus turns to the Fed’s guidance and any shift in dots or balance-sheet language. EUR/GBP: Euro edges up on improving risk tone; sterling steady before CPI and the BoE. JPY/Asia FX: Yen mixed as rate differentials still matter; Asia FX firmer on the combination of calmer oil and stronger regional equities. Commodities Crude: Prices are lower on reduced geopolitical risk and improved shipping outlooks. A sustained dip would temper headline inflation and support consumer spending power. Precious metals: Gold is little changed to softer on higher equity appetite and marginally firmer real yields. Base metals: Copper and peers gain with the pro-cyclical tone and hopes for steadier industrial demand. Trade Global Futures & Options Manage risk and leverage opportunities across global asset classes with confidence on a DFSA-regulated platform. Explore Futures & Options The policy week ahead Federal Reserve (Wed): The base case is no change in rates. Markets will parse the statement and press conference for any tilt toward renewed inflation vigilance versus patience as energy eases. Europe/UK: The BoE is expected to hold while signaling data dependence; Switzerland, Norway, and Sweden also meet, with guidance the key swing factor for FX. Asia/EM: Several regional central banks are on deck; the balance between currency stability and growth support remains central. Data to watch US: Retail sales, industrial production, housing starts/permits, jobless claims. An upside surprise in retail sales alongside easing gasoline prices would reinforce resilient consumption. Euro area/UK: Eurozone inflation updates and wage trackers; UK CPI and labor market prints ahead of the BoE. Asia: China activity gauges and property data; Japan machinery orders and trade. Note: US markets are closed on Friday for the Juneteenth holiday, which could pull activity forward into the first half of the week. Key themes we’re monitoring Energy pass-through: The speed at which lower fuel costs filter into freight, airfare, and goods prices. Market breadth: Whether cyclical participation persists beyond a geopolitical relief rally. Curve dynamics: Any renewed bear-steepening if growth data firm, versus bull-flattening if inflation momentum cools. Listings pipeline: The cadence of upcoming offerings as risk appetite and valuations remain supportive. Positioning considerations discussed by market participants A tilt toward cyclicals and travel-sensitive names when energy costs fall, balanced against defensives in case geopolitics re-escalate. Gradual duration add-ons on rate back-ups, with an eye on Fed messaging and supply. Active sector rotation within equities as earnings revisions and input-cost dynamics evolve. Risk reminders Geopolitical headlines can change quickly and reprice energy and shipping. A hot inflation or wage print could reawaken rate-hike fears and pressure duration and long-duration equities. Liquidity may thin into the US holiday, amplifying intraday moves. Institutional-Grade Brokerage Solutions Empower your fund or family office with multi-asset execution, API connectivity, and dedicated relationship coverage. View Institutional Services Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. 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12 June 2026 – Daily Market Updates Daily Markets Briefing Overview Risk appetite is firm heading into the US open. Equity index futures are in the green, led by tech-heavy benchmarks, while the dollar is broadly steady. Crude oil is retreating after headlines pointing to potential de-escalation in the Middle East, and crypto is slightly higher. Bond markets are quiet as investors look ahead to next week’s central bank decisions. Key themes today Equities: US futures point to modest gains, with Nasdaq-100 contracts up around half a percent. Europe is higher across most sectors, led by technology and travel. Defensive pockets are lagging. Commodities: Oil is down roughly 4% from recent levels as traders price in a lower risk premium tied to geopolitical developments. Softer energy prices are supporting airlines and select consumer groups while weighing on energy producers and services. Currencies and crypto: The broad US dollar gauge is little changed in early trade. Major pairs are rangebound. Bitcoin is marginally firmer after a choppy week. Rates: Core yields are broadly stable as markets await fresh guidance from the Federal Reserve next week. IPO watch A high-profile US listing in the space, satellite and AI arena is set to begin trading today, drawing intense attention from both institutions and retail investors. Indications from grey-market activity suggest a strong opening premium relative to the offer price. Beyond first-day moves, investors will focus on: Execution across multiple businesses (launch services, broadband constellations, and AI-related initiatives) Capital intensity and cash-flow path as growth projects scale Governance considerations given substantial founder voting control and overlapping executive roles Competitive dynamics and regulatory oversight across defense, telecom and space Capitalize on Global Equity Markets & Futures Stay ahead of the curve with direct access to US, European, and Asian equities, plus global futures and options. Explore Trading Products Macro and policy United States: Fixed income desks will parse next week’s Federal Reserve meeting for any shifts in tone under new leadership and for clues on the path of balance sheet policy and rate cuts. Smaller tweaks in communication could translate into bigger market swings given tight positioning. Europe: An ECB Governing Council member signaled willingness to tighten again if warranted by external shocks. Markets still price a shallow path ahead, leaving data and geopolitical headlines as swing factors for rates and the euro. China liquidity: Authorities have reportedly asked major state-owned banks to dial back interbank lending to curb excess cash and stabilize short-term rates. The move underscores the balancing act between supporting growth and preventing financial imbalances. Sectors and single-name color Tech and chips: After a powerful year-to-date rally, several prime brokers are said to be trimming leverage extended to hedge funds in select Asian semiconductor names, aiming to cool volatility. Expect wider intraday ranges and more dispersion. Software: One large-cap software name is weaker premarket after a leadership change in the finance function. Investors will watch for continuity in capital allocation and AI monetization plans at the upcoming earnings update. Housing: A major US homebuilder guided cautiously on orders and deliveries, citing persistent affordability headwinds. Lower mortgage rates would help, but lot and labor costs remain constraints. Energy, airlines and transport: Energy equities are softer alongside crude. Airlines and other fuel-sensitive groups are catching a bid on the prospect of cheaper jet fuel and reduced geopolitical risk. Space-related equities: Peers in launch, satellites and space infrastructure are higher in premarket trade ahead of today’s marquee listing. Global equity flow watch Retail participation in the US remains elevated around high-profile offerings, though the mechanics differ meaningfully from Asia, where some markets still see very large retail order books due to listing frameworks that can favor outsized first-day moves. For US investors, allocation sizes, lockups and stabilization practices will influence aftermarket liquidity and volatility. What to watch next US: Preliminary June sentiment, inflation expectations and any company pre-announcements into quarter-end Central banks: Federal Reserve meeting next week; follow-through commentary from ECB officials Energy: Any concrete steps toward de-escalation in the Middle East and the knock-on to crude term structure Asia: Signals from China’s liquidity management and any incremental growth support measures Portfolio considerations Stay disciplined on position sizing around new listings. Early trading can be headline-driven with wide bid-ask spreads. In equities, lower oil supports travel and consumer subsectors but can pressure energy; consider hedges if exposures are concentrated. For rates, keep an eye on term premium and front-end volatility into the Fed. Options or barbell strategies can help manage event risk. In semiconductors, tighter leverage may amplify swings; focus on balance sheet strength and end-market diversity. Market snapshot (early US morning, indicative) US equity futures: modestly higher, tech leading European equities: broadly firmer Oil: down roughly 4% from recent levels US dollar: little changed on a trade-weighted basis Bitcoin: slightly higher Institutional-Grade Brokerage for Funds & Family Offices Protect your capital and optimize your portfolio with dedicated relationship coverage and global execution across all major asset classes. Discover Institutional Services Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You

11 June 2026 – Daily Market Updates Daily Market Brief: AI Ambitions, Policy Shifts, and a Wall of Worry A constructive risk tone is back this morning. US equity futures are pointing higher with tech leading, European benchmarks are firmer, Treasury yields are a touch lower across the curve, and crude has eased after recent strength. Under the surface, investors are balancing optimism around artificial intelligence with concerns about costs, credit quality, and the path of interest rates. Market overview Equities: Tech-heavy futures are outperforming as investors lean into growth and productivity themes. European stocks are broadly higher; Asia finished mixed amid regulatory headlines in China. Rates: US yields are modestly lower ahead of key central bank decisions abroad. European government bonds are steady to slightly weaker into a widely expected policy move. Commodities: Oil is off earlier highs but remains elevated versus recent averages, keeping inflation sensitivity in focus. Industrial metals are steady; gold is rangebound. FX: The dollar is mixed; the euro is steady as traders await policy signals, while the yen remains sensitive to global rate differentials. Credit: Primary markets remain active, though there’s growing discussion about a gradual turn in the credit cycle and the importance of balance-sheet strength. Big picture: AI is the catalyst—and the question AI continues to shape cross-asset narratives: Capital intensity vs. payoff: Rising data center and infrastructure spending is supporting semiconductor equipment and related suppliers. At the same time, higher capex can pressure margins and free cash flow for companies still proving out AI returns. Dispersion ahead: Well-capitalized leaders may benefit from scale, access to compute, and power. More leveraged firms chasing the same opportunity set could face tighter financing conditions if growth underdelivers. Valuation vs. fundamentals: Investor enthusiasm remains strong, including around high-profile listings linked to space, satellites, and next-gen connectivity. Expect higher day-one volatility where retail participation is large and lockups vary. Policy watch: Europe takes the first step Euro area: Markets widely expect a rate increase as policymakers respond to persistent inflation pressures exacerbated by higher energy costs. Guidance on the path beyond today will matter more than the move itself. United States: Softer recent core inflation gives the Fed room to remain patient, but traders continue to hedge for the possibility of another hike later this year if price pressures re-accelerate. United Kingdom: Attention turns to incoming data and communication from policymakers as services inflation and wage dynamics remain sticky. Explore Global Investment Solutions Access multi-asset global markets with expert institutional and retail brokerage services. Discover Our Products Geopolitics and energy Ongoing Middle East tensions keep a floor under crude, but near-term price action reflects position squaring and shifting demand expectations. The broader takeaway for portfolios: headline risk remains high, and energy’s pass-through to inflation is still a watchpoint for rates and growth. Sectors and themes in focus Semicap strength: Equipment makers and AI-adjacent hardware continue to benefit from expanding capacity plans across hyperscale, enterprise, and sovereign compute. Software and housing: Earnings and guidance from large-cap software and US homebuilders will offer clues on enterprise budgets, AI monetization timelines, orders, and consumer rate sensitivity. Consumer and luxury: Corporate activity chatter is lending support in select names; watch for margin commentary given FX and input costs. China internet: Regulatory scrutiny around marketing and pricing practices is adding volatility to major platforms; sentiment remains headline-driven. What we’re watching next European Central Bank decision and press conference US data: labor market indicators and producer inflation Corporate earnings: updates from large-cap software, housing, and payments/commerce ecosystems Energy reports: supply/demand balances and inventory trends US Treasury auctions and global policy remarks that could shift rate expectations Portfolio considerations (not investment advice) Quality first: Favor stronger balance sheets and consistent cash generators as the credit cycle matures. Stay selective in AI: Balance secular beneficiaries (infrastructure, semicap, power) with scrutiny on end-demand and monetization. Rate risk: With inflation still uneven, consider diversified duration exposure rather than a single big bet on long-end stabilization. Risk control: Maintain hedges around energy and volatility; event risk remains elevated across policy, geopolitics, and earnings. Ready to Elevate Your Portfolio? Speak with our experts to tailor strategies for your unique financial goals. Contact Us Today Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. 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10 June 2026 – Daily Market Updates Daily Market Brief: Cautious Tone Ahead of Inflation Test Markets are set for a softer open as investors brace for a pivotal US inflation update and another heavy slate of supply in government bonds. After a whipsaw session to start the week—marked by sharp rotations within mega-cap technology and AI-adjacent names—risk appetite looks more measured. European equities are broadly weaker, US equity futures point lower, and Asian markets closed mixed as traders reassess the path of policy and growth. Macro and policy All eyes on inflation: This week’s US consumer price data will help determine whether the “higher-for-longer” rates narrative hardens or eases. A sticky core print would reinforce expectations that policy stays restrictive for longer, while any cooling could reopen discussion of eventual rate relief. Rates repricing: Treasury yields are holding near recent highs as markets shift from debating the timing of cuts to weighing the risk of additional tightening if inflation proves persistent. Elevated sovereign issuance and firmer real yields continue to pressure duration. Global backdrop: Geopolitical tensions remain a background risk and are contributing to periodic haven flows. Meanwhile, major central banks outside the US face their own trade-offs between stubborn inflation and slowing activity, keeping cross-asset correlations fluid. Equities Tech-led volatility: The rally leaders of the year—semiconductors, AI infrastructure, and high-growth software—have shown larger intraday swings as investors digest capital-raising plans, changing order visibility, and valuation stretch. Positioning remains crowded in select themes, amplifying reversals. Cyclical vs. defensives: With yields elevated, defensives and cash-generative quality franchises have provided relative ballast, while domestically oriented cyclicals are trading more on incoming macro data than on micro news. Expect factor leadership to hinge on the inflation print and rate path signals. Earnings in focus: Results from consumer internet, software, and select industrial technology names will offer fresh reads on demand durability, margins, and capex tied to AI buildouts. Guidance around back-half growth and pricing power will be closely watched. Fixed income Sovereign supply front and center: Governments have been active issuers, and the supply calendar remains busy. Higher term premiums and concession needs are keeping a lid on bond rallies into auctions. Credit steady but selective: Investment-grade spreads are contained, reflecting healthy corporate balance sheets. In high yield, dispersion is increasing as refinancing windows remain open for stronger issuers but more challenging for weaker capital structures if yields stay elevated. Navigate Global Markets with Confidence Access global equities, fixed income, futures, and structured notes with a DFSA-regulated broker. Explore Our Trading Products Commodities Oil steady: Crude is treading water as supply discipline counters demand concerns. Any surprise in inflation or growth data could sway near-term direction via the dollar and risk sentiment. Gold under pressure: Firmer real yields and a stronger dollar have weighed on precious metals. Physical demand and central bank buying remain supportive on pullbacks, but near-term price action is chiefly a rates story. Industrial metals mixed: Signals from manufacturing PMIs and China activity data remain key drivers. Positioning is cautious pending clearer visibility on global growth into the second half. Digital assets Crypto’s bounce looks tentative: After a sharp slide last week, the major coin has recovered some ground but faces a tougher macro tape. Rising real yields and tighter liquidity typically compress risk premiums across speculative assets. Flows and positioning: Spot product flows have softened recently, and derivatives metrics suggest limited conviction for a durable upturn. Option skews imply demand for downside protection remains elevated relative to interest in longer-dated upside. Key swing factors: Macro liquidity, regulatory headlines, and techncial levels around prior support zones. Without a sustained improvement in broader risk appetite, rallies may struggle to extend. Private markets and deal flow Exit environment: The backlog of private equity exits is still sizable. With financing costs normalizing higher and public multiples uneven across sectors, sponsors are weighing longer holds against valuation resets. Capital raising: Companies tied to AI infrastructure and next-gen computing continue to tap markets to fund expansion, leading to episodic equity volatility. Investors are scrutinizing dilution, payback periods, and visibility on orders. What to watch US inflation report: Headline, core, and supercore trends; shelter disinflation pace; goods vs. services split. Central bank signaling: Updated projections and any language around balance sheet runoff and term premiums. Sovereign auctions: Bid-to-cover dynamics and tail sizes as tests of demand at current yield levels. Earnings: Updates from consumer, cloud/software, and industrial tech for clues on pricing power and AI-driven capex. Geopolitics: Any escalation that could impact energy markets, shipping routes, or safe-haven flows. Bottom Line Markets are entering an event-heavy stretch with tighter financial conditions already doing some of the Fed’s work. A benign inflation surprise could extend the soft-landing narrative and ease pressure on duration and high-multiple growth. A hotter print would likely reinforce higher real yields, favor quality balance sheets, and keep pressure on gold and crypto. Stay nimble, mind liquidity, and focus on balance-sheet strength, cash flow visibility, and pricing power until the macro path clarifies. Institutional-Grade Brokerage Solutions Comprehensive multi-asset execution, API connectivity, and clearing services tailored for funds and family offices. Discover Institutional Services Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come

9 June 2026 – Daily Market Updates Daily Market Briefing: AI Momentum Lifts Risk Appetite, Rates Stay Firm, Oil Softens Overview Global markets are opening on a constructive note, with equities buoyed by renewed enthusiasm around artificial intelligence and digital infrastructure. Government bond yields remain elevated after strong recent data reset interest-rate expectations, while crude oil is slipping as supply concerns ease and geopolitical risk premiums fade. Crypto remains volatile after last week’s sharp drawdown. Equities US: Futures point higher, led by mega-cap tech and semiconductor names as investors rotate back into AI beneficiaries following a brief pause. Early strength is broadening modestly into software and select cyclicals tied to enterprise spending. Europe: Stocks are mixed to higher, with technology and health care outperforming while energy lags alongside softer crude. Exporters remain sensitive to currency moves as the dollar steadies. Asia: Regional benchmarks mostly advanced. Hardware, foundry, and cloud-exposed names outperformed on expectations for sustained AI capex, while travel and leisure underperformed on company-specific guidance updates. Rates and Currencies US Treasuries: Two-year and five-year yields are holding near recent highs as markets price the possibility of tighter policy or a longer hold amid resilient growth and sticky services inflation. The curve remains relatively flat, reflecting cautious optimism on growth and a slower path toward inflation normalization. Global rates: Select emerging-market central banks are leaning more hawkish to stabilize currencies and stem portfolio outflows, highlighting divergent policy paths versus major developed markets. FX: The dollar is firm against a broad basket on higher US yields. Pro-cyclical currencies are steady to softer; safe havens are range-bound. Commodities and Crypto Energy: Oil prices are retreating as supply appears adequate and headline risks ease. Crack spreads are mixed; backwardation has narrowed, reflecting improved near-term balances. Metals: Gold is consolidating as higher real yields offset safe-haven demand. Industrial metals are supported on hopes for incremental policy support in large manufacturing economies. Digital assets: Crypto is stabilizing after a sizable weekly market-cap decline. Liquidity is thinner and volatility elevated; derivatives positioning suggests a cautious tone with selective dip-buying in large-cap tokens. Corporate and Deal Flow Primary markets: The listing window is reopening, led by high-profile technology and infrastructure names tied to AI, data centers, and next-gen connectivity. Interest is robust, though investors remain sensitive to valuation, governance, and lockup dynamics. M&A: Health care deal activity underscores the premium for late-stage pipelines and targeted oncology. Across tech, partnerships and long-dated capacity commitments continue to anchor the buildout of compute and power. Theme to Watch: Building the Next Industrial Platform Investors are focusing on the convergence of space, AI, communications, and software into integrated platforms. The potential prize is vast—global connectivity, compute at the edge, and data-rich applications—yet the model introduces execution complexity: Pros: Diversified revenue streams, vertical integration, and powerful network effects across hardware, software, and services. Cons: Capital intensity, regulatory scrutiny, cross-entity dependencies, and the challenge of transparent segment reporting. What to watch: Unit economics in launch and broadband, AI model monetization, utilization rates for data centers, and capital allocation discipline. Early trading in landmark listings often brings volatility; disciplined position sizing and staggered entry points can help manage risk. Strategy Thoughts Equities: Emphasize quality growth with strong free cash flow, pricing power, and balance-sheet resilience. Within AI, balance “picks and shovels” (semis, power, cooling, optical, infrastructure software) with selectively owned application-layer exposure. Fixed income: Maintain a neutral-to-slightly short duration bias given upside risks to policy rates; consider barbell approaches to capture carry while preserving flexibility. IG credit with solid coverage remains attractive; be selective in HY. Commodities: With oil softer, reassess hedges and sensitivity to refined-product margins. Gold remains a portfolio diversifier but is sensitive to real yields. Alternatives and crypto: Expect elevated realized volatility. Favor institutional-grade vehicles with robust liquidity terms; avoid leverage concentration and monitor counterparty risk. Risk management: Use options to express views around event risk; employ stop-loss discipline in early-stage listings; diversify across regions and factors as leadership narrows. Optimize Your Portfolio for the AI Era Leverage our tailored wealth management strategies to navigate market volatility and capture high-quality growth opportunities. Explore Wealth Management The Day Ahead Macro: Inflation prints, jobless claims, and sentiment surveys will set the tone for rates and growth expectations. Watch policy remarks from central bank officials for guidance on the reaction function. Micro: AI infrastructure updates, capacity leases, and cloud spending intentions from large customers are key for semis and data-center ecosystems. Energy and metals: Inventory data and any fresh indications on supply policy from producers could sway crude and refined products; industrial metals watch for incremental stimulus signals. Risks to Monitor Re-acceleration in services inflation or wage growth pushing rate expectations higher Tightening financial conditions spilling into credit Geopolitical flare-ups that reprice energy and shipping Power constraints and equipment lead times slowing AI deployment IPO lockup expiries and insider sales adding supply to markets Bottom Line Risk tone is constructive, but higher-for-longer rates and busy primary markets argue for selectivity. Lean on quality, maintain liquidity, and be disciplined on valuation—especially in areas where narratives are strongest and price discovery is still underway. Trade Global Markets with Precision Access advanced execution services and broad asset class coverage tailored for institutional and sophisticated investors. Discover Institutional Brokerage Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be

8 June 2026 – Daily Market Updates Daily Market Brief: Bulls Make Their Case as Risks Stack Up Overview Equities are attempting to stabilize after a sharp, tech-led setback late last week. Early U.S. futures point modestly higher, even as investors weigh a mix of headwinds: a jump in energy prices, firmer rate expectations, and a pause in the most crowded parts of the AI trade. European stocks are softer, while Asia saw broad declines led by technology-heavy markets. Energy shares are catching a bid on the oil surge, and bond yields are nudging up as inflation anxiety edges higher. What’s driving the tape Energy shock back in focus: Crude extended gains toward the mid-$90s amid heightened geopolitical tensions and supply concerns. Higher fuel costs are filtering through to inflation expectations and pressuring rate-sensitive assets, while lifting oil & gas equities. Rates repricing: Markets are leaning toward a longer stretch of restrictive policy in the U.S. and a more hawkish tone from major central banks abroad. The European Central Bank is in the spotlight this week, with investors debating how far it will go as growth stays uneven and energy costs climb. AI and semis cool off: After months of outperformance, profit-taking hit AI-linked names and high-multiple tech. The longer-term capex cycle around advanced chips and data infrastructure remains a key bull pillar, but near-term valuations are being reassessed. Geopolitics and volatility: An escalation in the Middle East is lifting commodities and volatility. Cross-asset correlations have risen, amplifying moves across equities, rates, and FX. Market snapshot (early U.S. session) U.S. equity futures: Firmer after Friday’s selloff, with megacaps stabilizing and energy leading. Europe: Broad indices softer, cyclicals mixed; energy stronger, rate-sensitive sectors lagging. Asia: Regional benchmarks fell, led by technology and semiconductor names; Korea underperformed. Bonds and FX: Sovereign yields higher across major markets; the dollar broadly supported on rate differentials. Commodities: Oil up sharply on supply/geopolitical risk; gold steady to slightly higher as a defensive hedge. Diversify Your Portfolio with Global Market Access Trade across international equities, futures, and fixed income with institutional-grade tools and dedicated support. Explore Trading Products Why bulls still see a path higher Earnings resilience: Corporate results and guidance in several sectors have outpaced cautious expectations, keeping forward estimates trending up. Investment cycle intact: Multi-year spend on automation, cloud/AI infrastructure, and energy security continues, supporting profit and productivity themes beyond quarter-to-quarter noise. Healthy reset: A pullback in crowded leaders can broaden participation if quality cyclicals and defensives re-rate, reducing concentration risk. Consumer and balance sheets: Household and corporate balance sheets, while mixed, remain reasonably solid in aggregate, offering a buffer if growth slows but avoids a hard landing. Key risks to monitor Sticky inflation from energy: A sustained oil spike risks re-accelerating headline inflation and delaying any policy easing. Policy error: Quick tightening into a soft patch could pressure credit, housing, and capex—particularly in Europe. Valuation sensitivity: High-duration equities remain vulnerable to rate spikes and earnings downgrades. Geopolitical flare-ups: Any disruption to energy flows, trade routes, or supply chains could hit margins and growth expectations. The week ahead: What matters for markets Central banks and policy Europe: ECB decision and press conference. Markets will parse guidance on inflation persistence vs. growth risks. North America: A Canada rate decision and U.S. policy rhetoric ahead of key data may sway front-end rates. Inflation and activity data U.S.: Consumer price inflation and sentiment; housing and inventory updates. Europe: CPI reads across core economies; industrial production snapshots. Asia: China inflation and trade; regional PMIs for demand signals. Sector and micro drivers Energy: Ongoing OPEC commentary and inventory trends vs. geopolitical risk. Tech: Developer conferences and chip-supply headlines; index rebalancing flows later this month. Corporate activity: Consolidation in European banking and selective biopharma partnerships remain themes. Positioning considerations (not investment advice) Diversification: Balance growth and value, with attention to cash-flow durability and pricing power in an energy-up, rates-up tape. Rate sensitivity: Reassess duration across equities and fixed income; consider the impact of higher real yields on long-duration assets. Quality bias: Strong balance sheets and consistent free cash flow can cushion drawdowns if volatility persists. Risk management: Use liquidity windows to review hedges, position sizes, and correlation assumptions as cross-asset swings pick up. Bottom line Markets are recalibrating after an exceptional run, with energy prices and rates doing the heavy lifting on risk premia. Bulls argue the reset can be constructive if earnings and investment cycles hold. The next leg likely hinges on this week’s inflation prints and central-bank signals—clarity there could decide whether the current bounce has legs or gives way to a broader consolidation. Expert Investment Advisory for Volatile Markets Protect and grow your wealth with customized portfolio management and structured solutions tailored to your risk profile. Schedule a Consultation Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – July-02 July 2, 2026 02

5 June 2026 – Daily Market Updates Daily Market Brief: Caution Builds Ahead of US Jobs Data Overview Markets are treading carefully into the end of the week as investors brace for the latest US employment report. Rates traders are focused on whether hiring and wage trends confirm a cooling economy or extend the “higher-for-longer” interest-rate narrative. Equity futures are softer, led by growth and semiconductor names following an exceptional multi-quarter run. In commodities, crude is holding near recent highs, and digital assets remain choppy. Macro and rates All eyes on payrolls: A softer read on job creation and wage momentum would likely lift Treasuries and ease front-end rate expectations, while a firmer print could nudge yields higher and reinforce the case for restrictive policy a bit longer. The setup: After months of repricing toward tighter policy amid sticky inflation and elevated energy prices, the balance of risks is more two-sided. Oil has stabilized, and several high-frequency indicators point to moderating labor demand. That combination increases the odds of a bond-market rally if the data underwhelm. What matters most: Beyond the headline jobs change, watch average hourly earnings, labor-force participation, and revisions. A benign wage trend alongside steady participation would be especially supportive for duration. Equities US: Futures point lower before the bell, with mega-cap tech and chip-related shares giving back ground after an outsized advance year-to-date. Investors are rotating selectively, reassessing crowded trades tied to artificial intelligence and high-performance computing. Europe: Stocks are mixed to lower, with defensives holding up better than cyclicals ahead of the US data. Rate-sensitive pockets such as real estate and parts of consumer discretionary are under pressure. Asia: Sentiment was fragile. South Korea’s market saw pronounced swings this week as foreign flows reversed and breadth narrowed, underscoring how dependent some benchmarks have become on a handful of leaders. Hedge Your Portfolio with Global Derivatives Access futures and options across 15+ global exchanges to manage risk and capitalize on market volatility. Explore Derivatives Trading Credit and funding Primary issuance remains steady for investment grade borrowers, though many deals are being front-loaded around key data. In high yield, new supply is more selective with a premium for balance-sheet resilience. Spreads are broadly range-bound, but dispersion is increasing across sectors most exposed to rates, input costs, and AI-related capex cycles. Commodities Energy: Crude is little changed near recent peaks as supply dynamics and demand expectations offset each other. Refining margins remain supportive into peak driving season, but macro headlines are dictating day-to-day moves. Metals: Gold is holding firm as investors weigh real yields against haven demand. Industrial metals are consolidating recent gains amid mixed signals from global manufacturing. Currencies and digital assets FX: The dollar is slightly firmer heading into the data, with traders hesitant to take large positions ahead of payrolls. A soft US print would typically pressure the greenback against G10 peers; a beat would likely do the opposite. Crypto: Major tokens are under pressure this week amid broader risk aversion and deleveraging. Price action remains highly sensitive to liquidity conditions and headline risk. What to watch today US employment report: headline payrolls, unemployment rate, wage growth, participation, and prior-month revisions. Rates reaction function: front-end yields and the 2s/10s curve for guidance on policy-path repricing. Equity leadership: whether any post-data bounce broadens beyond a narrow set of winners. Positioning thoughts (not investment advice) Rates: Consider that asymmetry may favor duration on a downside surprise to jobs and wages; conversely, a hot print could keep the front end vulnerable. Equities: Maintain a balanced stance. Quality balance sheets and consistent cash flow remain in favor as markets reassess elevated expectations in select growth themes. Risk management: Into event risk, focus on liquidity buffers and hedging, especially for portfolios concentrated in high-beta technology and rate-sensitive sectors. Data note: Market levels and moves referenced are as of early US morning and are subject to change. Institutional-Grade Execution for Complex Markets Discover bespoke brokerage solutions, API connectivity, and multi-asset coverage tailored for funds, family offices, and professional traders. View Institutional Services Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – June 5 June 5, 2026 5 June 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – June 4 June 4, 2026 4 June 2026 – Daily Market Updates Markets Morning Briefing… Read More Daily Market Updates – June 3 June 3, 2026 3 June 2026 – Daily Market Updates Markets Morning Briefing:… Read More Daily Market Updates – June 2 June 2, 2026 2 June 2026 – Daily Market Updates Global Markets Morning… Read More Daily Market Updates – June 1 June 1, 2026 1 June 2026 – Daily Market Updates Morning Markets Brief:… Read More Daily Market Updates – May 29 May 29, 2026 29 May 2026 – Daily Market Updates Market Brief: May’s… Read More Daily Market Updates

4 June 2026 – Daily Market Updates Markets Morning Briefing Big picture Risk tone softened overnight as tech hardware led global equities lower. US equity futures point to a weaker open, with growth and semiconductor-linked names under pressure. European stocks are tracking the move, while most Asian benchmarks finished in the red. Sovereign yields are little changed to fractionally lower as investors rotate toward safety. The US dollar is broadly steady against majors but firmer versus several Asian currencies. Crude oil is easing after a strong multi-week run, while gold is broadly flat. Digital assets are softer alongside the broader de-risking. What’s driving the tape AI enthusiasm vs. earnings reality: A prominent chip and infrastructure supplier offered a cautious near-term revenue outlook for AI-related hardware, prompting a pullback across the AI ecosystem. The theme remains intact longer term, but expectations and positioning are being recalibrated. Capacity constraints linger: Industry leaders continue to signal that advanced semiconductor production will remain tight relative to AI-driven demand for an extended period, keeping capex and supply-chain bottlenecks in focus. Deal calendar heats up: Investor education is picking up for several marquee listings across space and AI. A robust pipeline would bolster equity capital markets activity and bank fee pools, but it also introduces fresh supply for equities to absorb. Central bank watch: In Japan, speculation is building that policymakers could take another small step toward normalization in the months ahead, supporting the yen at the margin and stirring volatility across local rates. Elsewhere, US Treasury moves remain data-dependent with inflation still the swing factor. Geopolitics: Ongoing tensions in the Middle East are adding a layer of headline risk to energy and broader risk appetite. Regional and asset-class snapshot United States: Futures indicate a tech-led pullback. Defensive sectors (health care, utilities, staples) look relatively resilient pre-market. Traders are eyeing labor-market updates and services activity data for clues on growth and inflation momentum. Europe: Risk-off open with cyclicals and luxury names lagging; banks mixed as curves flatten modestly. Country-level inflation revisions and central-bank commentary are in focus. Asia: North Asia underperformed as semiconductor and hardware exposure weighed on benchmarks. Policymakers in parts of the region reiterated readiness to manage currency volatility. Rates: US 10-year yields hover near recent ranges; curves marginally flatter. In Europe, core yields are steady with peripheral spreads slightly wider. UK gilts remain sensitive to supply and domestic growth signals amid talk of broadening household participation in government bonds. Commodities: Oil slips on risk sentiment and position squaring after recent gains; refined products follow. Industrial metals consolidate amid uneven China demand signals. Precious metals are little changed as real yields and the dollar hold steady. FX: Dollar index is stable; yen trades firm on policy speculation; sterling is range-bound ahead of domestic data; select EM Asia FX under pressure as authorities emphasize vigilance. Crypto: Prices are lower with elevated realized volatility; positioning remains sensitive to macro liquidity and regulatory headlines. Expand Your Global Market Access Navigate international stock markets and secure tailored wealth management solutions backed by our local DIFC expertise. Discover Our Services Earnings and events to watch Corporate updates: A busy slate from software, cybersecurity, hardware, and consumer discretionary names will add micro drivers to a macro-led session. Data: US jobless claims, services/activity gauges, and productivity/costs updates are key for assessing the growth-inflation mix. Global PMI revisions and central-bank speakers may sway rates and FX. Themes for investors AI dispersion: The long-term AI buildout continues, but near-term winners and losers will be driven by supply constraints, customer mix, and power/compute availability. Expect periodic shakeouts around guidance. Quality vs. cyclicality: With rates elevated and growth moderating, balance-sheet strength and cash flow remain in favor, while deep cyclicals may trade more tactically. Duration balance: Treasuries retain hedging value on risk-off days, but sticky services inflation keeps the path of policy and term premia uncertain. Energy and volatility: Crude’s pullback follows a strong run; options markets imply continued two-way risk as geopolitics and inventories intersect. What’s next Focus tightens on the upcoming US inflation prints and any hints of policy shifts from major central banks. Watch the equity calendar: High-profile listings can lift sentiment but also test risk appetite as supply returns to primary markets. Monitor semiconductor headlines for updates on lead times, capacity additions, and power constraints that could shape the sector’s next leg. Trade Futures & Options on Regulated Exchanges Hedge against volatility and maximize capital efficiency with our expert-backed derivatives trading platforms. Explore Trading Products Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – June 4 June 4, 2026 3 June 2026 – Daily Market Updates Markets Morning Briefing:… Read More Daily Market Updates – June 3 June 3, 2026 3 June 2026 – Daily Market Updates Markets Morning Briefing:… Read More Daily Market Updates – June 2 June 2, 2026 2 June 2026 – Daily