Public Markets 3h Briefing
×Public Markets
The S&P 500 dropped 1.2% investing.com in its worst week since June, marking its first two-week loss since June. Entrata bloomberg.com is working with Goldman Sachs and JPMorgan on an IPO, while Goldman’s Solomon bloomberg.com described the market reaction to the Middle East conflict as "benign," though he noted it would take weeks to understand more. Asian currencies consolidated against the dollar wsj.com, but the Middle East conflict could weigh on them, and South Korean equities extended their slide bloomberg.com into a third session as risk-off sentiment surged. Stocks pared an oil-fueled rout bloomberg.com as assurances on securing shipping lanes through the Strait of Hormuz trimmed losses after an over 9% surge in oil prices. Gold rose on possible dip-buying wsj.com amid the Middle East conflict, after tumbling more than 4% in the previous session as the dollar strengthened and inflation worries emerged. Aluminum traders braced for turmoil bloomberg.com as the Iran crisis choked supply, pushing prices higher and threatening contract suspensions.
Deals & Corporate Activity
Francisco Partners bloomberg.com completed a $2.2 billion take-private of Jamf, while Nvidia bloomberg.com backed another UK driverless startup, Oxa, in a $103 million round. Uber Technologies bloomberg.com received a win in its complaint against American Transit Insurance Co., the largest taxi insurer in New York City, which failed to defend Uber in crash cases. Anthropic finance.yahoo.com’s Claude became the most popular free app on iPhone and Android amid fallout from the Trump fight. Sino Biopharma investing.com signed up to a $1.4 billion licensing deal with Sanofi.
Macro & Policy
Japan may intervene to buy yen bloomberg.com amid speculation, and Ecuador bloomberg.com is eyeing a $4 billion bond sale return. The UK government revealed a major flaw in the post-Brexit inspection regime after lorries with unsafe meat imports skipped border checks. China’s cheap money bloomberg.com is reshaping the global loan market, with Chinese banks flush with low-cost funds influencing deflationary pressures. Iran Attacks U.S. Embassies wsj.com in the Middle East, adding to market volatility. Wall Street Strategists bloomberg.com warned against betting on Trump rescuing stocks rattled by the Iran war, as stocks began paring deeper losses.