Andrew, Ben, and Tom discuss Comcast&#x27;s 20% surge on the announced spinoff of NBCUniversal and Sky from its cable business, Korea&#x27;s plan to orchestrate $880 billion in AI capacity spending by 2029 with Samsung and SK Group leading $570 billion of chip investment, Apple lobbying the Trump administration for clearance to buy memory chips from blacklisted CXMT as the memory squeeze pushes hyperscalers to find new sources, Williams&#x27; proposed $5.5 billion deal for Momentum Midstream, and the renewed back-and-forth in the Strait of Hormuz as Iran and the US move to talks in Doha. 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

Comcast +20% on NBCU Spinoff, Korea Bets $880B on AI Chips, Hormuz Fighting Resumes | June 29, 2026 – Morning Market Briefing

The Morning Market Briefing

# Full Transcript

**Podcast:** The Morning Market Briefing

## Transcript

Hey everybody, welcome to The Morning Market Briefing. It's Monday, June 29, 2026. Hope you're doing well out there. No call this upcoming Friday, July 3rd. Market is closed in honor of America 250. So big week, short week ahead. Let's jump in with energy, Ben, because we got a number of storylines having a bit of an impact, not the least of which is our dear friend, the Strait of Hormuz.

Really slowing down there as this deal continues to not deal. Yeah, this kind of started Thursday night when Iran tried to attack a ship that crossed the Strait close to Oman, which was not approved, and then another one carrying oil from Qatar. The U.S. responded with attacks on Iranian communications, drone and missile sites along the coast, and then Iran attacked Kuwait and Bahrain.

It was gone back and forth. They were supposed to meet in Switzerland, but these talks stalled due to the fighting. And so now it looks like because markets are open, cooler heads are apparently prevailing, and there are going to be more talks potentially in Doha later, beginning tomorrow actually.

So it seems like both sides are tentatively agreeing, but the fly in the ointment right now is Lebanon, Israel, and Lebanon have agreed to stop fighting, but Hezbollah has said, we don't agree. No way.

It may exist in oil for some time just because of the uncertainty about will they shut it down or won't they. Yeah, it's interesting, and I think the – I'm curious if we continue to see these little spats, how effective the distancing will be for Trump and others as the midterms come due.

It's – if you get that buffer that you alluded to, Ben, that keeps that premium and keeps oil up elevated somewhat, then I think there may be growing angst about what's the actual long-term solution. If you can keep things relatively peaceful and oil continues to trickle down, I think it kind of goes to the back of the news cycle. But as long as we're getting a tax, it's going to stay there. Yep.

And elsewhere in the energy space, Williams making a $5.5 billion deal for Momentum Midstream. This is specifically East Texas and Northern Louisiana gas flow. Yeah, there's a really gassy place. Hicks knows about that. So it's not – the Permian is a little bit more oil rich, and that's more on the West Texas side.

But then East Texas, Louisiana, that's very high natural gas, which is typically something that I've really tried to stay away from as an investor because you produce a lot of gas very quickly. But then it kind of – it all burns out very quickly. So when you frack a new well. So it's not a great business to be in, but we do have a lot of gas here in the United States.

And the companies that move that are going to do very well. I continue to think that gas is going to be what powers a lot of these data centers, not nuclear. Nuclear is a lot more risky, a lot more capital intensive. You really have to commit to it for a ...

Comcast +20% on NBCU Spinoff, Korea Bets $880B on AI Chips, Hormuz Fighting Resumes | June 29, 2026 – Morning Market Briefing

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Comcast +20% on NBCU Spinoff, Korea Bets $880B on AI Chips, Hormuz Fighting Resumes | June 29, 2026 – Morning Market Briefing

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.