Public Markets 24 Hours

Last updated: May 16, 2026, 5:30 AM ET

Energy & Geopolitics

Oil futures settled higher for a second consecutive session as prolonged closures of the Strait of Hormuz stoked concerns over dwindling global inventories, while prices climbed further after President Trump's summit with Xi Jinping failed to yield a clear breakthrough on Iran. The 30-year Treasury yield closed the week near its highest level since 2007, dragging global bonds into a rout that intensified inflation fears tied to the energy shock. Abu Dhabi National Oil Co. continued loading LNG onto tankers with masked locations in the Persian Gulf, even as Trump's $40 billion Hormuz insurance facility attracted zero uptake due to the absence of naval escorts. Iranian oil flows from Kharg Island are most likely paused due to an oil spill, according to satellite-tracking firm Tanker Trackers.com, though Iranian executions have surged since a January cease-fire, raising questions about the regime's stability. Nigerian oil producer Oando is benefiting from the Iran war windfall as buyers seek safer supply routes, while gold ended the week 3.49% lower at $4,555.80 and silver collapsed below $80 an ounce on a rollercoaster week of price swings.

US Markets & Equities

Wall Street's risk rally collided with the bond market's sell-off as the S&P 500's winning streak confronted rising inflation and higher interest rates. The yield on the 10-year Treasury climbed to nearly 4.6%, its highest in more than a year, while Bitcoin dipped below $79,000 as risk assets suffered amid inflation concerns. Berkshire Hathaway sold roughly $8 billion of Chevron shares in the first quarter as the oil giant's stock hit record highs, and amassed a $2.6 billion stake in Delta Airlines during CEO Ajit Jain's first quarter at the helm. Meanwhile, Ford fell the most in 15 months as the AI-driven rally cooled, and mergers in energy utilities accelerated with Next Era Energy and Dominion Energy in discussions for a $400 billion combined entity driven by booming electricity demand for AI data centers. SpaceX is seeking to file for its IPO as soon as Wednesday, with the company planning a public offering for June 12 according to the Wall Street Journal.

Tech, AI & IPO Activity

The AI boom could end the de-equitization "put" as this bull market has bucked the usual flood of equity issuance. Anthropic is raising $30 billion more as a handful of AI labs absorb the majority of venture capital funding, while OpenAI acquired Weights.gg, a social network for sharing AI voice-cloning algorithms. Stripe CEO John Collison warned that agentic commerce will reshape the internet as AI agents increasingly conduct transactions autonomously, displacing traditional e-commerce inputs like targeted ads and SEO. Erock Inc., a modular power systems maker for data centers, filed for a US IPO amid widening losses, and Bill Ackman disclosed a new stake in Microsoft on Friday, calling the tech giant underpriced. Forbright Inc. filed for an IPO targeting middle-market lending and digital banking, while Fervo Energy raised $1.9 billion in an IPO using oil and gas drilling techniques to produce geothermal power. Kraken cut 150 workers after deploying AI and pushed its IPO target to 2027 as digital-asset prices remained depressed.

Geopolitics & Defense

President Trump called Taiwan arms sales a "negotiating chip" with China, raising doubts about the steadfastness of U.S. support for the island. NATO chief Mark Rutte is set to press Europe's arms makers to boost investment and production at a Brussels meeting next week, while Mercedes-Benz's CEO signaled willingness to enter defense production as Germany recasts its manufacturing sector for the West's defense buildup. An Iran-backed commander has been charged with plotting attacks on Jewish sites in the U.S., and Israeli strikes targeted a top Hamas military leader in Gaza described as an architect of the October 7 attack. A rare Ebola strain with no approved vaccine has killed dozens in Congo, with a large outbreak now declared as health experts express alarm over the delayed announcement.

Fixed Income & Currency

US 30-year Treasury yields neared their highest level since 2007, prompting G-7 finance chiefs to discuss the bond selloff sending benchmark yields to multi-decade highs. Corporate bonds gained an edge over sovereigns as credit investors chased high yields from blue-chip earnings, even as the euro could climb on a $200 billion wave of hedging flows according to Morgan Stanley. Bond futures face disruption as a global yield surge forces traders to overhaul positions. In the UK, gilts fell as traders braced for an Andy Burnham leadership challenge against Prime Minister Keir Starmer, while consumer spending rose 0.5% in April despite higher gas and food prices. Investors flocked to copper bets at a five-month high as prices hit fresh records on the Comex.