Public Markets 24 Hours

Last updated: May 15, 2026, 11:41 PM ET

Utilities M&A

Next Era Energy Inc. is in discussions to acquire Dominion Energy Inc. in a mostly stock deal that would create a utility giant with a combined enterprise value of roughly $400 billion, according to multiple reports. The talks come amid booming demand for electricity to power AI data centers, as utilities scramble to address the growing energy needs of the technology sector's rapid expansion. If completed, the merger would represent one of the largest utility combinations in U.S. history and reshape the competitive landscape of the American power industry.

Energy & Commodities

Oil futures posted back-to-back gains as the prolonged closure of the Strait of Hormuz raised concerns about falling global inventories. Meanwhile, Berkshire Hathaway Inc. sold about $8 billion worth of Chevron Corp. shares in the first quarter as the oil giant's stock reached a record high. Hedge funds boosted their bullish copper wagers to a five-month high before prices on New York's Comex climbed to a fresh record high. Natural gas futures extended their winning streak to three sessions as warmer weather forecasts pointed to a pick-up in demand. In precious metals, gold settled down 2.6% Friday and ended the week 3.49% lower at $4,555.80, while silver collapsed well below $80 an ounce at the end of a week of extreme price swings. State-run Argentine energy giant YPF SA announced a $25 billion project to accelerate oil production, marking the largest investment since President Javier Milei took office.

Fixed Income

Global bonds tumbled on fears of an inflation shock from the Iran war, with the 10-year Treasury yield climbing to nearly 4.6% Friday, its highest level in more than a year, while the 30-year yield closed at its highest since 2007. The bond market disruption threatened to cause a failure in the Treasury futures market — the principal tool for hedging U.S. government bonds — as traders stood to overhaul their positions. Despite the sovereign rout, credit investors enticed by high yields were buying up corporate bonds, shrugging off the lingering Middle East conflict and focusing instead on robust results from blue-chip businesses. Fidelity International's inflation bet paid off as bonds slid, with portfolio manager Mike Riddell having been skeptical of the view that global price pressures were subsiding.

IPOs & Equity Markets

SpaceX is planning to go public on June 12, filing publicly for its long-awaited IPO as soon as Wednesday according to people familiar with the matter. Fervo Energy, which uses drilling techniques from the oil and gas industry to produce power from the earth's heat, raised $1.9 billion in its initial public offering. Forbright Inc., a financial services platform focusing on middle-market lending and digital consumer banking, filed for an IPO showing growing deposits. Erock Inc., a modular power systems maker serving data centers, filed for a U.S. IPO disclosing increasing revenue and widening losses. Meanwhile, traders dumped chipmakers and other high-flying technology shares Friday as rising bond yields curbed Wall Street's appetite for risky bets following a weeks-long, record-setting rally. Ford Motor Co. fell the most in 15 months after its AI-driven rally abated.

Investment Firms

Harvard's endowment head N.P. Narvekar told the board he plans to retire, with the university investment office having grown the endowment from $35.7 billion to nearly $57 billion under his tenure. U.S. federal prosecutors are scrutinizing valuation practices at BlackRock's TCP Capital Corp, with Wall Street's top cops examining the private credit fund. Bill Ackman's Pershing Square is betting on Microsoft's AI ambitions with a new stake, with the investor saying the tech company is undervalued. Berkshire Hathaway amassed a $2.6 billion stake in Delta Airlines Inc., reigniting the conglomerate's complicated relationship with the airline industry, while also exiting positions in Amazon, Mastercard, Visa and United Health during Abel's first quarter as CEO.

Aerospace & Airlines

Boeing shares slid as Trump's China summit deals disappointed, though the president said Beijing would expand agriculture and oil purchases. However, Trump and Boeing announced China would purchase 200 planes, a deal Beijing has not commented on that would be a major win for Boeing, which has lost ground to Airbus in one of the world's largest aviation markets.

Crypto

Bitcoin dipped below $79,000 as inflation fears hit risk assets, with a selloff in stocks sweeping up cryptocurrencies as concerns over inflation and high oil prices rattled jittery investors. Kraken, one of the world's oldest cryptocurrency exchanges, cut 150 workers after deploying AI and may not go public until 2027 due to a sharp decline in digital-asset prices.

Emerging Markets

Ghana's world-leading stock rally is fueling the prospect of bank IPOs, with an improving economy likely encouraging lenders to plan initial share sales according to the head of the nation's bourse. Colombia's economy grew faster than expected in the first quarter, potentially boosting President Gustavo Petro's leftist ally in this month's presidential vote. Morgan Stanley remains bullish on South Africa's longer-term reform trajectory even as a global oil shock challenges the economy, fans inflation and may trigger higher interest rates.

Luxury & Retail

Salvatore Ferragamo plummeted after reporting a lack of growth acceleration, with the luxury fashion group reporting a decline in first-quarter sales, dashing hopes for a sustained recovery amid a broader struggle for luxury brands. Starbucks is taking a $400 million charge as it cuts more corporate staff, with sales having rebounded for the coffee chain but renovations and barista hires under its turnaround plan having come at a cost.