Public Markets 24 Hours

Last updated: April 9, 2026, 11:30 AM ET

Geopolitical Shocks & Commodities

Markets continued to digest the implications of the fragile ceasefire in the Middle East, which saw US equity futures pare earlier sharp rallies as skepticism over the truce resurfaced and geopolitical risks remained elevated. The relationship between the dollar and oil tightened to near-record levels following the recent US-Iran ceasefire, while a shipping ETF tracking Strait of Hormuz traffic spiked 1,300% in recent weeks based on conflict volatility. Energy supply disruptions remain acute, evidenced by the UAE’s largest oil producer confirming the Strait of Hormuz remains restricted by Iran, which, if sustained another month, could push Brent crude averages above $100 a barrel through 2026, according to Goldman Sachs estimates.

The conflict's impact on energy policy and corporate strategy is multifaceted; the EU is moving to relax methane rules for fossil fuel importers to secure supplies, while airlines are adjusting capacity, with British Airways planning to reduce Middle East flights in July to free up aircraft for Asian and African routes. In the commodity space, iron ore prices slipped to a one-month low following reports that BHP Group’s incoming CEO met Chinese executives in Beijing, suggesting potential thawing trade relations. Meanwhile, American Airlines raised baggage fees by $10 per checked bag, directly citing the run-up in fuel prices as justification, mirroring Delta Air Lines’ advantage from owning its own refinery amid the surging jet fuel costs.

Corporate Dealmaking & Earnings

Private equity remains active despite the volatility, as CVC Capital Partners seeks co-investors to help finance its proposed €10.9 billion ($12.7 takeover of Italian pharmaceutical firm Recordati SpA. In real estate, Ares Management agreed to purchase Whitestone REIT in an all-cash deal valued at approximately $1.7 billion. Elsewhere in deal flow, a lending group led by UBS Group AG financed a logistics tie-up after pausing efforts to offload the debt due to market uncertainty, while Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc. saw its backing loan cut to $49 billion as the financing group swelled with new banks.

On the earnings front, Fast Retailing, the owner of Uniqlo, raised its annual guidance based on strong first-half global sales growth, even amid Middle East disruptions. However, equity performance outlooks are mixed; BlackRock warned that earnings estimates are too optimistic due to inflationary fallout from the war, contrasting with investor optimism that the upcoming earnings season might prompt a return to equities as war worries ease BlackRock’s Jewell Says Earnings Estimates Are Overly Optimistic. In the technology sector, BlackBerry projected revenue expansion by fiscal 2027, supported by its QNX operating system, while Meta Platforms expanded its AI cloud capacity deal with Core Weave to December 2032 for about $21 billion.

Fixed Income & Sovereign Risk

Global bond markets reflected nervousness over inflation and geopolitical stability, with Brazilian hedge funds experiencing their worst monthly performance since 2020 as rising oil prices undermined bets on lower global interest rates. In contrast, Japanese government bonds drew their largest foreign inflow in a year last week, even as the Bank of Thailand vowed to keep rates steady to support the economy despite anticipated inflation acceleration from the conflict. Meanwhile, the market saw a rush in European primary debt issuance, with Thursday tracking for its busiest day since early February as a tentative Iran ceasefire fueled a comeback for riskier hybrid debt.

Emerging market assets faltered as doubts over the Middle East truce pushed oil prices higher, leading to the first decline in five sessions for both EM stocks and currencies, and extending the foreign selling streak in Indian equities to a record 23 consecutive sessions Foreign Selling Streak in Indian Stocks Hits Record on Oil Spike. The Philippines saw its outlook lowered to stable from positive by S&P Global Ratings due to increased risks to its balance of payments from the war, while the UK’s pound sterling carried a higher war premium in options compared to the euro, indicating traders view the UK as more vulnerable to energy price spikes.

Regulatory & Institutional Shifts

Regulatory scrutiny intensified across several sectors, as the Justice Department launched an inquiry into the NFL over potential anticompetitive practices harming consumers. In financial crime, the SEC slashed a whistleblower award related to the Wells Fargo fake accounts scandal to less than half the initially planned $53 million payout. Furthermore, the Czech Republic is seeking to extend the life of the Dukovany nuclear plant into the mid-2060s following positive safety reviews. In the asset management world, Marsh & McLennan’s Mercer secured $3.8 billion for private investments, while the pressure on private markets continues as a large volume of software debt is set to mature.

In the institutional arts world, Melissa Chiu is departing the Hirshhorn Museum to take the helm at the Guggenheim Museum in New York, while the financial sector faces internal governance questions; NFL officials face questions about anticompetitive tactics, and BlackRock’s Jewell Says Earnings Estimates Are Overly Optimistic. Separately, the founder of Interactive Brokers Group, Thomas Peterffy argued against insider trading bans, suggesting they are incompatible with prediction markets.

Technology, Media & Lifestyle

The technology sector saw major AI infrastructure expansion, with CoreWeave extending its Meta deal for AI cloud capacity through 2032 valued at $21 billion, though OpenAI halted a UK data center project citing high energy costs and regulatory uncertainty. Meanwhile, a new Gallup study revealed that young adults’ feelings toward AI are souring, becoming less hopeful and more angry, even as half of Gen Z reports using the technology. In media, Disney is preparing layoffs of up to 1,000 positions under new CEO Josh D’Amaro, while the free ad-supported streamer Tubi is betting on AI to capture Gen Z viewers. In Canada, clothing retailer Aritzia saw shares rally sharply following strong spring collection sales and hopes generated by the Middle East truce.