Public Markets 3h Briefing
×Market Moves
The S&P 500 bloomberg.com dropped 1.2% in its worst week since June, marking a significant retreat from its gains. Entrata wsj.com is working with Goldman Sachs and JPMorgan on an IPO, signaling continued M&A activity. Gold edged higher on a possible technical recovery despite falling 1.1% overnight, though it later steadied as a firmer dollar offset Middle East risk premium concerns, per Bloomberg Markets bloomberg.com. Oil prices surged, posting their biggest gain since 2020, as the Iran war intensified, per Wall Street Journal Markets bloomberg.com.
Macro & Policy
Japan may intervene to buy yen amid speculation, while Ecuador wsj.com eyes a $4B bond sale return. The SEC ended its fraud case against crypto billionaire Justin Sun, as reported by Bloomberg Markets bloomberg.com. President Trump called on Iranians to take back their country, per Bloomberg Markets bloomberg.com, escalating rhetoric. The Iran war exposes oil risks across Asia, with Bloomberg Markets bloomberg.com noting its impact on global markets. Oil hedging desks closed a record week, bracing for more, per Bloomberg Markets bloomberg.com.
Deals & Corporate News
JPMorgan’s Co-Head of Shareholder Engagement, Alfredo Porretti, departed, per Bloomberg Markets bloomberg.com. Nike recorded a $300M cost-cutting charge, primarily severance, per Wall Street Journal US Business bloomberg.com. Costco is evaluating tariff refunds as second-quarter revenue rose, per Wall Street Journal US Business bloomberg.com. UGG founder Brian Smith discussed building the iconic brand, per Bloomberg Markets bloomberg.com.
Market Wrap
Asian stocks were primed for early declines Friday after US stocks and bonds fell, extending a week of volatility as Middle East tensions escalated, per Bloomberg Markets bloomberg.com. The Dow Jones Industrial Average turned red for 2026 as the Iran war roiled the old-economy gauge, per Bloomberg Markets bloomberg.com.