Public Markets
Last updated: August 5, 2026, 11:31 PM ET
Asian Markets and Corporate Earnings
Asian stocks are poised to ease Thursday as investors digest gains in technology shares while watching for fresh signs of progress toward a deal to reopen the Strait of Hormuz. Japanese stocks were lower in early trade following Wednesday’s sharp gains led by artificial intelligence-related shares. JGBs rose in early Tokyo trade, tracking overnight price gains in U.S. Treasurys. Chip giant SK Hynix Inc. suffered its second short-lived share plunge in about a week, raising fresh questions about trading volatility on South Korea’s alternative stock exchange. China’s rapid progress in low-cost artificial intelligence is strengthening the investment case for the country’s internet giants after years in the shadow of chipmakers, market participants say. In African tech hubs, developers are picking China’s cheap, freely available artificial intelligence models over more powerful U.S. ones.
US Markets and Economic Indicators
U.S. stocks finished mixed as optimism about the reopening of the Strait of Hormuz was offset by more volatility in artificial-intelligence wagers. The Dow industrials advanced, notching their 24th record high of the year, while the Nasdaq slipped. Treasury yields edged slightly lower ahead of Friday’s employment report from the BLS after weaker-than-expected private payrolls data. The WSJ Dollar Index fell 0.2%, down six of the past seven trading days. Traders in India are dialing back October rate-hike bets after dovish Reserve Bank of India (RBI) speak, with the earliest anticipated rate hike now in December. The Federal Reserve might be pressured into easing monetary conditions due to the way current trades are being conducted.
Company Performance and Outlooks
DBS Group Holdings Ltd. delivered better-than-expected second-quarter profit that was powered by a surge in wealth-led fee income, and raised its 2026 guidance. MetLife Inc.’s second-quarter earnings surpassed Wall Street’s expectations, boosted by strong underwriting, volume growth, and the success of a five-year plan outlined in late 2024. Motorola Solutions Inc. lifted its outlook, now expecting full-year adjusted earnings between $17.62 and $17.72 a share on revenue of about $12.98 billion. Thomson Reuters bumped up its revenue targets for the year after logging double-digit growth across its three big business segments in the latest quarter. EBay reported higher revenue of $3.13 billion, and now expects gross merchandise volume to grow between 11.5% and 12.5% in 2026, as its Depop acquisition closes. Shopify quieted fears of a midyear slowdown, forecasting accelerating third-quarter sales growth as artificial intelligence-driven search and broad merchant expansion fuel market-share gains.
Technology and AI Sector Moves
SpaceX shares slumped even as the group said its quarterly revenues nearly doubled, with investors unnerved by lavish AI spending plans. The technology trade may be poised to become even more dependent on retail investors and more volatile after a rough July, according to an assessment of preliminary data on technology, media and telecom. Celestica Inc. is looking to raise $3 billion from selling new shares, joining a flurry of companies raising funds for data centers to power the artificial intelligence buildout. Western Digital reported a more than elevenfold increase in its fourth-quarter profit, driven by continued strong demand for its memory technology. Sandisk revenue soared on AI data storage demand, with the company posting higher net income of $6.9 billion as the artificial-intelligence buildout continued to fuel demand for data storage. Duolingo Inc. shares fell as much as 12% on Wednesday after the company’s conservative revenue outlook for the current quarter overshadowed user growth.
Energy and Commodities
U.S. crude oil stockpiles were up by 2.5 million barrels in the week ended July 31, contrary to expectations of a 1.2 million barrel fall. U.S. natural gas futures edged up in rangebound trading ahead of the EIA’s weekly storage report. Fuel-makers enjoying skyrocketing profits will likely keep reaping standout margins through the next quarter and beyond, according to an executive from a top US refiner. The US shipped a record amount of distillate fuel overseas last week as domestic stockpiles fell again, the latest sign that the global scramble for diesel is increasingly draining US supplies. Ghana’s central bank incurred losses of 22 billion cedis ($1.9 in 2025 under a domestic gold purchase program aimed at boosting the country’s foreign-exchange reserves. Copper prices rose for the third consecutive trading session and ended at fresh records.
Mergers, Acquisitions, and Deals
Cia. Siderúrgica Nacional is seeking at least 15 billion reais ($2.9 for its cement business and expects to receive four bids as it moves to sell the entire unit. BC Partners’ credit arm is leading a group of investors looking at lending money to LIV Golf, according to people familiar with the matter. Two private credit funds managed by Blue Owl Capital Inc. bought back a combined $90 million of shares, marking a consecutive quarter of repurchases as the asset manager sought to steady the vehicles. Bending Spoons is buying Airtable for a fraction of its last private valuation, a move described as a "kick in the gut" for software unicorns and their backers. A bondholder group is set to take over Pfleiderer, the struggling wood-paneling company backed by Strategic Value Partners, despite the firm raising fresh debt just eight months ago. Partners Group is nearing a €2 billion deal for beauty group Aroma-Zone, with French asset manager Eurazeo in talks to sell its stake.
Regulatory and Legal Developments
The Food and Drug Administration (FDA) approved Moderna’s mRNA flu vaccine after initially refusing to review the application but reversing course after a public outcry. The agency had initially refused to even review the application but reversed course after a public outcry. A former executive alleged JPMorgan improperly denied reimbursements of more than $100 million to customers who were victims of financial scams, leading prosecutors to probe whistleblower claims. Federal agents are using flight manifests to arrest travelers with lapsed visas, drawing objections from airlines over safety and protocol. The federal government is ending its contract with a Kentucky nonprofit after reports of abuses, saying the organization pressured medical workers to remove organs from patients who were getting better. Finland, wary of misinformation from Moscow and beyond, has a leg up on other nations in spotting fake news.
Political and Geopolitical Events
Marine One the helicopter that ferries the president, came within less than a mile of an Envoy Air flight on Tuesday, raising new concerns about air traffic control in the congested Washington airspace. The pro-Israel organization AIPAC spent $32 million in an unsuccessful effort to defeat Abdul El-Sayed in Michigan’s Democratic Senate primary and might try again in the general election. The CIA has set up a secret Cuba task force that will allow the spy agency to quickly direct more financial, human and technical resources at the island, with the goal of creating fissures among the Cuban political elite. President Trump’s criticisms of Big Oil echo the strategy used by his predecessor regarding high gas prices. The Trump administration’s new safety review guidelines for artificial intelligence appear to exempt Chinese AI models, while OpenAI’s and Anthropic’s are not. Israel has ramped up attacks on the Palestinian enclave of Gaza, potentially undermining President Trump's peace plan for the region.
Other Notable Developments
The U.S. suspended government activities in the Mexican state of Michoacan, affecting imports of avocados from the largest producing region in the country to the U.S. The New York Times’ total revenue climbed 11% to $762.5 million in the second quarter, though its stock plunged 13% as subscriber growth slowed. A Senate panel scheduled a vote on contempt of Congress charges for Dr. Anthony Fauci after he declined to answer questions at a hearing last week. Jason Arday was hired by the University of Cambridge in 2023 as the youngest Black professor in its history, but doubt has since been cast on his academic qualifications and claims about his life. The death of a Salvadoran immigrant at the federal detention center in Newark has raised questions about the conditions there. In 32 of the countries included in a recent study, at least a quarter of the native butterfly species had moved to new areas.
Private Equity
Last updated: August 5, 2026, 11:31 PM ET
Deal Activity and Valuations
Bain Capital is set to acquire Gong cha, a popular tea beverage chain, from TA Associates. KKR-backed FGS has acquired the bipartisan government affairs firm Rich Feuer Anderson, marking its second such acquisition. Veritas Capital is acquiring environmental consultant Trinity Consultants from Oak Hill. PE-backed ContextLogic is purchasing chemicals manufacturer gChem from Eagle Tree for $850M, making gChem Context Logic's second operating business. Bodycote plc has confirmed receiving two competing conditional cash offer proposals from CVC and Veritas Capital Fund IX, valuing the company at £1.56bn. GSAM is reportedly preparing to sell Divcon Controls, a provider of building management and electrical power monitoring systems for data centers and other critical facilities.
Fundraising and Investor Activity
EQT's Scaleup Europe Fund has debuted with a €450M investment in Finnish satellite imaging company ICEYE, which achieved a €10bn valuation. TPG is raising $17bn for its third healthcare fund, TPG X, as part of its broader $94bn Capital platform. Nextalia has secured over €1.1bn for its second flagship fund, Nextalia Private Equity II (NPE , attracting commitments from more than 200 investors. The firm's US buyout strategy has been distributing capital at more than double the industry rate, according to CEO Harvey Schwartz. Carlyle increasingly views Alp Invest as a corporate finance business rather than a standalone secondaries unit. Singapore's sovereign wealth fund GIC is preparing to sell approximately $1bn worth of private equity fund stakes on the secondary market. Boston Retirement has issued a request for proposal for up to an $85M private equity mandate. Ryan Moore seed investor in Draft Kings, has closed his debut fund, Revenant Ventures, with $78.5M.
Technology and AI Investments
Moove has raised $250M to expand its autonomous vehicle fleet management operations, with plans to eventually own robotaxis. Lightspeed partners Josh Machiz and Claire Zau discussed their social media strategies and podcast on the Equity studio. Yann LeCun joined a new venture capital firm backed by 244 limited partners. Robinhood is launching a fund that will allow retail investors to back Y Combinator startups. Magic School AI an edtech startup founded by an educator, has secured $63M from venture capitalists. WindBorne Systems raised a $37M Series B round to scale its weather balloons and AI-powered forecasts. Firms like Blackstone, TPG, and EQT are actively partnering with artificial intelligence businesses. Njord Partners sees AI as a natural and key part of its operational improvements and business activities. is experiencing exceptionally active deal-making, with AI playing a significant role in improving administration, metadata management, and royalty processing. Integrating AI into a startup's product strategy can sometimes reduce its exit value, according to strategic adviser Itay Sagie. Fintech startup Moss has achieved unicorn status with a €30M Series C funding round. Oxylabs reached a $3.6bn valuation after a decade of declining venture capital funding, citing the right timing and partner. The number of new funds launched this year provides insights into Europe's investment market landscape. CalSTRS is addressing climate-related questions within its investment strategies.
Layoffs and Industry Challenges
Over 127,000 workers at U.S.-based tech companies experienced layoffs in 2025, and these cuts have continued into 2026, according to Crunchbase News. There are concerns that an AI strategy might inadvertently diminish a startup's exit value. Some investors have been holding capital in evergreen funds before redeeming to fund a Hamilton Lane separately managed account. The San Diego Padres are reportedly nearing a franchise sale valued at $3.9bn, which would be the most expensive in Major League Baseball history.
Sector Investment
Last updated: August 5, 2026, 11:31 PM ET
Infrastructure Funds and Deal Activity
Agallas Equities is planning its inaugural infrastructure fund, aiming to raise $5bn for Caribbean-focused investments. The fund has reportedly attracted early interest from family offices in Gulf states, signaling potential for significant capital inflow. While transport packaging assets may not appeal to all infrastructure purists, the ultimate decision on their inclusion rests with limited partners.
Private Equity and Healthcare Sector Moves
Altaris has announced its intention to acquire the Life Sciences & Healthcare business from Clarivate. This strategic move signifies continued private equity interest in the specialized healthcare and life sciences sector. Industriens Pension, a Danish fund with €37bn in assets, is maintaining its infrastructure investment strategy despite current geopolitical turbulence. The fund's head of infrastructure emphasized a "business as usual" approach, highlighting their focus on co-investments and secondary market opportunities.