ISM Manufacturing Improves + OpenAI Wants to Give the US Government 5% of the Company | July 2, 2026 – Morning Market Briefing

Andrew, Ben, and Tom discuss the ISM Manufacturing report showing improving new orders and a shift toward hiring while prices moderate, alongside commentary highlighting Middle East pressure on CapEx and stabilizing supply chains, OpenAI's proposal to give the US government a 5% equity stake in the company as part of a broader industry arrangement potentially including Anthropic, Google, and Meta, and Kevin Warsh's remarks that inflation risks have eased since he took over as Fed Chair. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosure