Public Markets 24 Hours

Last updated: May 13, 2026, 2:30 AM ET

European Corporate Earnings & Buybacks

European corporate giants reported varied results while signaling confidence through capital returns, with Siemens launching a $7 billion share buyback program lasting up to five years following higher second-quarter revenue in its industrial units. Insurer Allianz posted a record first-quarter net profit attributable to shareholders of €3.69 billion, aided by strong property-casualty results and inflows of €38 billion into its Pacific Investment Management Co. (Pimco). Elsewhere, German firms raised guidance; Deutsche Telekom increased its full-year expectations despite lower first-quarter net profit, while Merck KGaA anticipates stronger momentum in its life-sciences division. Meanwhile, utility RWE saw adjusted EBITDA and EPS rise 25%, as gains in its offshore wind unit counteracted weaker trading results.

Geopolitics, Energy, and Logistics Disruptions

The ongoing conflict in the Middle East continues to reshape global energy flows and logistics, prompting Japan to increase coal power generation as conflict chokes less-polluting natural gas supplies and drives up prices. This pressure is also evident in commodity transport, where the expanded definition of the Strait of Hormuz and continued naval standoffs have left safe passage a gamble, forcing logistics providers to rely on massive truck convoys across Saudi Arabia, the U.A.E., and Oman to bypass the choke point. The U.S. government’s energy statistics agency is set to release new data on strategic reserves and flows through key shipping points, a response to the market instability that has also caused low-cost air travel carriers to face a new crisis due to rising fuel costs.

Asian Markets & Sovereign Defense Tactics

Asian central banks are taking defensive measures amidst currency weakness and geopolitical strain, with India markedly hiking tariffs on gold and silver imports to defend the rupee and shore up foreign-exchange reserves following warnings from Prime Minister Narendra Modi. Despite these pressures, S&P Global Ratings suggests India is weathering global financial turbulence better than headline data suggest. In South Korea, local retail traders countered foreign selling, pushing stocks rapidly toward fresh highs, while Indonesia’s central bank pledged “smart interventions” as the rupiah hit a record low, fueling speculation of a policy tightening. Separately, MSCI ejected 18 Indonesian stocks from its global indices, while China’s Boyu Capital Investment Management Co. plans to raise $3 billion for a new fund after its recent deal for a Starbucks China stake.

US Inflation, Fed Expectations, and Precious Metals

Accelerating U.S. inflation data for April, which showed the Consumer Price Index rising 3.8% annually driven by energy costs, immediately impacted rate expectations and commodity prices. Gold declined for a second consecutive day as the increased likelihood of a Federal Reserve rate hike this year weighed on the metal, though it had previously edged higher on the initial inflation report. The rising inflation backdrop is also driving soaring electricity costs, with U.S. power prices climbing 61% faster than overall inflation, putting pressure on utilities like American Electric Power Co., which is raising $2.6 billion in stock to meet surging AI-driven demand. In fixed income, Japanese government bond yields surged to their highest level since 1997 on inflation concerns, tracking overnight gains in U.S. Treasury yields following the hotter-than-expected CPI figures.

US-China Dynamics & Tech Investment

The geopolitical maneuvering between Washington and Beijing remains a central theme, with President Xi Jinping planning a generational game for global dominance as President Trump prepares for his summit with the Chinese leader. Discussions are expected to cover the risks of the AI arms race, though neither nation appears willing to slow down development first, even as U.S. business leaders, including Nvidia CEO Jensen Huang, accompany Trump to Beijing. In investment, despite lingering trade tensions, Morgan Stanley forecasts an improving profit outlook for Chinese firms due to rising exports, while the U.S. tech spending boom is driving global capital allocation; Alphabet is marketing its debut yen bond sale to finance increased capital expenditure for AI. Meanwhile, the memory chip shortage, exacerbated by AI buildout, is widening the chasm between stock winners and losers.

Political Uncertainty in the UK & Corporate Strategy

Political instability in the United Kingdom threatens to undermine corporate investment plans, as Keir Starmer’s Labour Party faces threats to its promise of stability and the pound remains steady. JPMorgan CEO Jamie Dimon warned the bank would scrap planned billions in new London investment if taxes on banks were increased following a potential leadership change, a risk compounded by speculation that Andy Burnham is seen as the biggest risk to gilt investors. Elsewhere in UK corporate news, activist investor Converium Capital is targeting veterinary group CVS over its stock performance post-regulatory probe, while the £10.6bn takeover battle for Intertek captures London’s attention.

Commodities, Trade, and Agricultural Pressures

Copper prices continued to climb toward a record high, nearing $14,000 a ton due to intensifying global supply risks from mine disruptions, while major meatpacker JBS posted first-quarter profit of $220.6 million, down sharply from $500.2 million last year due to rising cattle costs. In agricultural trade, Chinese officials are discussing purchases of U.S. corn ahead of the Trump-Xi summit, though China’s overall soybean import outlook is expected to slump due to a declining pig herd. The Middle East conflict is having severe knock-on effects on global food security, with Malawi facing extreme strain on fertilizer supply due to the Strait of Hormuz upheaval.

Financial Sector Realignment and Regulation

The private capital industry is showing signs of strain, evidenced by MUFG’s efforts to offload risk tied to $2 billion of private credit loans, underscoring the need for diversification away from concentration risk. In asset management, former Eaton Vance CEO Thomas Faust is taking a majority stake in a firm designed to rescue mutual fund managers facing redemption requests. Regulatory scrutiny remains high for major players; Sam Altman’s business dealings are now under GOP investigation ahead of OpenAI’s IPO, while the Justice Department is reportedly considering settling a lawsuit against the I.R.S. that involves dropping audits of the former president. In global infrastructure, Euroclear plans to accept HK-traded Chinese bonds as collateral, a move that supports Beijing’s drive to internationalize the yuan.