Public Markets 8 Hours

Last updated: July 2, 2026, 11:30 AM ET

Public Markets Roundup

Autos & Tech

Tesla sales jumped 25% in the second quarter, driven by a rebound in Europe and China, though U.S. demand was dampened by the expiration of EV tax credits. The electric automaker now focuses on autonomous vehicles and robotics, with only three models in its current lineup as deliveries climb. Separately, the National Highway Traffic Safety Administration has closed its "phantom braking" probe into Tesla vehicles after complaints dropped sharply and found no associated crashes, deeming the issue a low safety risk addressed by software updates as complaints dropped.

In the technology sector, AI-related stocks plunged globally ahead of the U.S. jobs report, with Core Weave Inc.'s junk bonds falling for a second day amid Meta Platforms Inc.'s plans for a competing cloud business as AI boom questioned. Meanwhile, Google lost an appeal against a €4.1 billion EU fine for Android, a significant victory for Brussels in its crackdown on big tech. The Nasdaq 100 Index has seen a 30% rally over three months, yet investors are betting the advance is just beginning, making call options the priciest they've been relative to the S&P 500 since 2007 as tech rally continues. Leveraged Exchange Traded Funds are being used by investors to amplify bets on AI stocks, magnifying swings in companies like SK Hynix as AI bets turbo-charged.

Labor Market & Monetary Policy

The U.S. labor market showed signs of cooling in June, with hiring slowing sharply despite a dip in the unemployment rate to 4.2% as hiring slows. Average hourly earnings remained steady, a development that provides Federal Reserve Chairman Kevin Warsh room to focus on inflation without immediate pressure from wage growth. This moderation in job creation has led traders to scale back expectations for an imminent Federal Reserve rate hike, with Treasury yields and the dollar falling in response jobs data dims hike. The U.S. economy created fewer jobs than anticipated, prompting a rally in Treasuries as investors adjusted their outlook on future Fed policy as payrolls report disappoints.

Deals & Investments

Chanel agreed to buy Charvet, the historic French shirtmaker known for its €655 ($746) shirts, in a rare acquisition for the luxury conglomerate looking to diversify beyond handbags as fashion house expands. Adani Enterprises Ltd. is seeking to raise $1 billion through a share placement to institutional investors as the ports-to-power conglomerate aims to fund its expansion. German drone maker Quantum Systems has secured $1.2 billion in new capital at an $8 billion valuation to boost drone production and invest in autonomous systems as drone maker raises funds. Comcast co-CEO Brian Roberts plans to split the integrated cable giant apart to spur growth, marking a significant strategic shift for the company.

Commodities & Energy

India is planning to expand its oil reserves and storage capacity, alongside deepening supply partnerships, to mitigate against price volatility, particularly in the wake of regional conflicts as India guards against spikes. Saudi Arabia's crude oil exports have climbed back to near pre-Iran war levels as shipments resume from within the Persian Gulf, indicating a regional supply recovery as Saudi exports surge. However, fewer gas tankers are navigating the Strait of Hormuz, suggesting potential issues for LNG buyers as Qatar's export revival falters as Qatar revival falters. France is experiencing significant agricultural damage due to record heat waves, with corn production down as much as 30% and hundreds of thousands of poultry deaths as heat waves hit crops.

Other Markets

Julius Baer Group