Public Markets 24 Hours

Last updated: May 22, 2026, 8:31 PM ET

Equity Markets

U.S. stocks clinched their longest weekly winning streak since 2023, with the S&P 500 rising for an eighth consecutive week as artificial intelligence enthusiasm continued to drive momentum across corporate America. The equal-weighted S&P 500 remains unchanged since the war began, highlighting how gains concentrate in mega-cap AI leaders rather than broad market participation. Earnings growth accelerated to its strongest pace since 2021, spreading beyond AI-fueled names to encompass much of corporate America, while European indexes jumped at open boosted by technology stocks following Asian and U.S. gains.

M&A & Private Equity

CVC Capital Partners and Groupe Bruxelles Lambert launched a $12.5 billion bid to take Italian drugmaker Recordati private, valuing the company at $12.47 billion in one of Europe's largest leveraged buyouts this year. Apollo Global Management proposed a £1.52 billion takeover of heat treatment firm Bodycote, sending shares sharply higher as the company confirmed it was in talks with the U.S. buyout giant. Meanwhile, Lantheus explores a potential $7 billion sale after receiving a takeover offer from Curium, valuing the radiopharma company at approximately $7 billion.

Energy & Commodities

Oil futures edged up ahead of the U.S. Memorial Day weekend as traders awaited progress on the U.S.-Iran cease-fire negotiations, while U.S. natural gas retreated below $3 on a cooler weather outlook that reduced expected power-sector demand. Copper is trading like an AI stock as investors bet that skyrocketing power use for artificial intelligence will fuel a surge in demand for the industrial metal, famed for tracking global economic shifts. Gold settled 0.76% lower at $4521, snapping a two-session winning streak as risk appetite improved.

Fixed Income & Currencies

Treasury yields ended the week little changed as Wall Street balanced hopes for a U.S.-Iran deal against fears of escalation, while the dollar stalled set to end the week nearly unchanged as risk assets gained on optimism around peace talks. Gilt yields posted their biggest weekly drop since 2023 driven by Chancellor Rachel Reeves' pledge to stick to fiscal rules and pullback from bets on higher Bank of England interest rates. The euro weakened slightly against the dollar as the Iran war's course remained key for the euro-dollar exchange rate, according to Commerzbank analysts.

Banking & Financial Services

Booz Allen Hamilton reported higher fiscal fourth-quarter profit as cost-cutting initiatives offset revenue declines, while BJ's Wholesale logged higher sales in its fiscal first quarter as inflation-weary consumers continued flocking to warehouse clubs for value. Julius Baer shares fell after the company reported slowing client money inflows at the beginning of the year due to its new risk approach and Middle East war uncertainty, despite expecting substantially higher first-half profit. Standard Chartered CEO apologized for "lower-value human capital" comments regarding AI and job losses.

Technology & AI

SpaceX completed a mostly successful Starship flight on its 12th test flight, ending in the Indian Ocean just over an hour after launch, as Elon Musk's rocket program advances toward enabling Starlink, AI satellites and other applications. The White House approved $9 billion for spy agencies to catch up on AI deployment, as the CIA and NSA cannot fully deploy latest models on classified systems due to cutting-edge chip shortages. Google appealed a landmark antitrust ruling declaring it a monopolist in search, seeking to reverse requirements to share data with rivals.

Regulatory & Crypto

The SEC delayed plans for crypto versions of U.S. stocks and pushed back prediction market ETFs from Roundhill, Granite Shares and Bitwise, stepping in as upstart fund issuers raced to wrap election and recession bets into tickers. Nasdaq received SEC approval to list Bitcoin index options, marking Wall Street's continued integration with cryptocurrency markets. House Republicans opened an investigation into prediction-market insider trading as James Comer questioned how users of Kalshi and Polymarket deploy insider information.

Consumer & Retail

Richemont reported accelerating sales growth in its most recent quarter despite Middle East conflict headwinds, saying it benefited from strong jewelry demand across regions, while Richemont sales climbed more than expected as shoppers splurged on Cartier bracelets and rings. Everlane finalized its sale to Shein, the ultra low-priced retailer purchasing the millennial brand that once promised transparency, amid customer backlash over the deal. 1-800-Flowers moved to invest in its brand after over-relying on paid advertising amid intensifying online floral delivery competition.

International Markets

Emerging-market stocks and currencies posted a positive week as investors grew hopeful that the U.S. and Iran are moving closer to a peace deal, while Argentina's junk-rated bonds yield less than U.S. Treasuries due to byzantine financial restrictions that override traditional risk metrics. South Korea warned the won's moves are excessive and signaled potential market actions, while Japan prepared to receive its first oil tanker to exit Hormuz since the war began. Germany's exporters helped drive first-quarter growth before the Iran conflict hit the economy.

Corporate News

Walmart reshuffled senior leadership with the departure of Sam's Club COO Tom Ward and Cedric Clark, head of U.S. store operations, as new CEO Suresh Kumar reorganizes the retail giant. Senior executives departed in a significant reshuffling under the new chief executive, while GameStop asked shareholders to increase share count as the video-game retailer pursues an acquisition of eBay Inc. Uber studied a full takeover of Germany's Delivery Hero to better compete with Door Dash outside the U.S.