Public Markets 24 Hours

Last updated: May 21, 2026, 8:33 AM ET

Equity Markets & Major IPOs

SpaceX's massive IPO targeting a Nasdaq listing under ticker "SPCX" is poised to become the largest in history, with Antonio Gracias positioned to make billions from his 7.3% stake as the second-largest shareholder after Elon Musk. The offering comes amid OpenAI preparing for its own IPO filing in coming weeks, while Anthropic tracks toward its first profitable quarter ahead of competitors OpenAI and xAI. Nvidia's profit surged 211% to $58.3 billion as the chipmaker posted $82 billion in first-quarter revenue, though Microsoft's sliding stock has become the S&P 500's biggest drag amid AI-related concerns.

Automotive & Transportation

Stellantis unveiled a €60 billion investment plan featuring 60 new models and under-$30,000 vehicles as part of Chief Executive Antonio Filosa's revival strategy, while Deere posted higher fiscal second-quarter sales as construction equipment growth offset agriculture weakness. NIO returned to net loss despite doubling first-quarter sales, and Airbus shares fell after reports of A350 aircraft delays that follow last year's freighter version postponement.

Retail & Consumer

Walmart's profit growth slowed as the retailer absorbed higher fuel costs to keep prices down for consumers, though sales rose across grocery, general merchandise and e-commerce. EasyJet reported widened pretax loss and raised ticket prices to offset jet fuel costs amid Middle East conflict uncertainty, while easy Jet bumped fares as customers delayed bookings. Paul Smith tailors U.S. approach targeting 50% U.S. sales share within three to five years.

Energy & Commodities

Oil prices hover near $100 consensus as market participants price crude for next year amid Iran war supply disruptions, while Saudi oil export revenue surged to a three-year high of $24.7 billion in March. Indonesian palm oil prices tumbled after President Prabowo Subianto unveiled state control plans for commodity exports, and gold steadied as hopes of U.S.-Iran truce eased rate-hike bets.

Technology & Quantum Computing

The U.S. will invest $2 billion in nine quantum computing companies including a startup with Trump family links, as U.S. stock futures fell following lukewarm reaction to Nvidia's earnings. Codelco fired an executive for overstating copper output after an internal audit found Chile's state producer classified material needing further processing as finished product.

Fixed Income & Banking

Rheinmetall sold €500 million in bonds in its first public offering since 2010, while Starling Bank profits eroded by interest rate cuts as the neobank failed to diversify revenue streams. Investec sweetened private-banking offerings in South Africa and UK to attract wealthy clients, posting a record dividend for the fourth straight year.

Geopolitical Impact on Markets

War weighs on global growth as the third month of conflict-induced energy crunch shows waning momentum and mounting inflation pressures, with French business activity slumping at the fastest pace since 2020 amid higher energy prices. German private-sector activity contracted for a second month raising recession risks for Europe's largest economy.

Asia-Pacific Developments

South Korean stocks jumped after Samsung reached a tentative deal with its labor union, averting a strike that threatened to disrupt the global AI boom, while Australia's unemployment climbed to a 4½-year high of 4.5%. Global funds piled back into Chinese stocks in April signaling renewed appetite after initial Iran war selloff.

Corporate M&A Activity

Kontoor Brands will sell Lee business to Authentic Brands for up to $1 billion, initially $750 million with $250 million potential earnout, while Tate & Lyle posted profit falls in what it called a disappointing fiscal year as takeover target Ingredion circles. Blackstone's $5 billion data center plan aims to merge creativity with necessity in AI infrastructure expansion.

Market Volatility & Technical Issues

Stockholm's blue-chip index was briefly halted due to a technical glitch, the second Nasdaq Nordic disruption in less than a month, while U.S. stock futures were mixed as the equity rally appeared set to peter out with muted Nvidia earnings reaction. SoftBank surged on OpenAI IPO news as Asian currencies showed mixed performance against the dollar.