Public Markets 24 Hours

Last updated: May 17, 2026, 8:32 PM ET

Energy & Commodities

Oil markets faced mounting pressure as the Iran conflict intensified supply concerns, with crude futures extending losses amid fears of Strait of Hormuz disruptions. Emergency measures spread across energy markets as oil stockpiles dwindle and peak summer demand approaches, while coal demand resurges globally as the Iran war effectively shuts critical shipping lanes. Freight costs surge throughout Gulf routes as shipping companies pivot to truck transport, adding thousands in extra logistics expenses for businesses navigating the supply crunch.

M&A & Corporate Deals

The utility sector readies for consolidation as Next Era Energy discusses acquiring Dominion Energy in a mostly stock deal valuing the Virginia-based company at approximately $76 per share, or roughly $66 billion—the largest power transaction on record. French advertising giant Publicis agreed to purchase U.S. data company Live Ramp for $2.2 billion, strengthening its artificial intelligence marketing capabilities. Meanwhile, Bain Capital closed its largest Asia fund at $10.5 billion, exceeding the $8.4 billion target by $2.1 billion from external investors.

Fixed Income Markets

Bond traders brace for a new era of elevated borrowing costs as war-driven inflation concerns intensify, pushing 30-year Treasury yields toward two-decade highs above 5%. Investors price out any Federal Reserve rate cuts from the upcoming policy meeting, according to Double Line Capital CEO Jeffrey Gundlach, who called cuts "just not possible." Emerging market carry trades rebounded with real and rand currencies favored as crude oil prices reinforce expectations for sustained elevated interest rates.

AI & Technology

Chipmaker stocks emerged as key drivers of the S&P 500 rally, with semiconductor shares increasingly dominating the index while stoking concerns about the sustainability of gains. Chinese AI groups pulled ahead of U.S. rivals in the video generation race, as ByteDance and Kuaishou outshine Western competitors in advertising and entertainment applications. Donald Trump Jr.'s venture capital firm promoted "patriotic capitalism" while building a sprawling AI portfolio and seeking to grow assets to $10 billion.

Geopolitical Risk & Defense

Middle East tensions crippled Qatar's economy as Iranian attacks and halted seaborne transit paralyzed vital gas exports, stalling the nation's growth strategy. Russian drone attacks struck Moscow in record numbers, killing three people and targeting a refinery in the latest escalation. UAE authorities confirmed a drone strike caused a fire at the Barakah nuclear plant with no injuries reported and radiation levels remaining normal.

Asia-Pacific Markets

Jane Street doubled its Singapore office capacity to 250 seats as the trading firm continues expanding across Asia, while Australia ordered six Chinese investors to divest stakes in rare earths firm Northern Minerals, marking the second such intervention in two years. Vietnam's largest refinery maintained confidence in stable operations through June while diversifying crude supply sources. Chinese electric scooter maker Yadea planned a Hungarian factory amid rising European demand. Malaysia introduced measures to support airlines hit by the Iran war's financial strain on the aviation industry.

Corporate Governance & Regulation

German Finance Minister Lars Klingbeil urged G-7 partners to deepen supply chain cooperation on raw materials and energy to reduce vulnerability amid Iran war challenges. China's market watchdog outlined 34 priorities for 2026 focused on supporting private sector growth through fair competition and stronger legal protections. Philippine government officials asked the Supreme Court to deny Senator Ronald Dela Rosa's petition to halt his arrest following an ICC warrant.

Political Developments

President Trump's administration pushed Christian nation narratives at a Washington prayer rally featuring cabinet officials, while Louisiana voters headed to a Senate runoff between Julia Letlow and John Fleming after Saturday's primary. Senator Bill Cassidy's primary loss highlighted Trump's tightening grip on the GOP, leaving few Republican defectors remaining in Congress. Former Senator Lamar Alexander called on Republicans to stand up to Trump in a new memoir, citing January 6th as an impeachable offense.