Public Markets 24 Hours

Last updated: May 25, 2026, 5:34 AM ET

Energy & Commodities

Oil futures slipped below $100 a barrel as U.S.-Iran peace talks progressed toward reopening the Strait of Hormuz, with European natural gas prices dropping 5% on similar optimism. Gold prices climbed on a weaker dollar and improved inflation outlook expectations, while European gas futures extended declines amid easing Middle East supply concerns. A supertanker carrying Iraqi crude successfully exited the Persian Gulf, crossing the U.S. blockade line into the Arabian Sea as diplomatic negotiations continued.

Currency & FX Markets

The dollar fell to a one-week low against a basket of currencies as emerging-market assets rallied broadly, with the Indian rupee strengthening on oil relief and central bank commentary suggesting the currency may be undervalued. India bond investors tapped multi-year high swap rates to enhance fixed-income returns, while emerging-market currencies gained alongside stocks on declining energy prices. The Reserve Bank of India governor noted the rupee's recent depreciation may have overshot fair value.

Fixed Income & Rates

Japanese government bonds faced homegrown downside risks despite oil's retreat, with a gauge of risk compensation rising fastest among major markets since the U.S.-Iran conflict began. Strategists warned that yields will likely stay elevated even if the Iran war ends, as structural drivers beyond geopolitical concerns are pressuring longer-term borrowing costs. The ECB signaled it will likely revise its inflation outlook higher at the June policy meeting, while Japan's financial regulator urged companies to deploy cash for growth rather than shareholder returns.

China Markets & Policy

China's solar installations fell for a fourth consecutive month in April, underscoring persistent weakness in domestic demand, while cross-border trading curbs sparked a rush for exits among Chinese investors seeking alternative routes to overseas equities. A Chinese online brokerage tycoon lost $1.7 billion in one day after Beijing's crackdown on illicit stock trading, with Citic estimating up to $32 billion of Hong Kong assets could be affected. Coal prices and mining stocks jumped after a deadly accident in Shanxi province raised supply disruption fears.

M&A & Corporate News

Jardines made its first acquisition since a strategic overhaul, agreeing to a $2.4 billion deal for Australian radiology provider I-MED, while SoftBank tapped retail investors for a ¥260 billion ($1.6 subordinated bond sale. Uber emerged as Delivery Hero's largest shareholder after sizable stake purchases totaling $11.6 billion, lifting the German food delivery company's shares. Stellantis accelerated partnerships with Chinese competitors as the Western auto giant seeks lifelines in the world's largest automotive market.

Technology & AI

The AI boom drove momentum stocks to record performance, giving investors their best returns in decades despite concerns about Iran war-driven growth slowdowns. Big Tech dominated bond markets as companies raced to fund AI data center expansion, with U.S. tech giants tapping capital markets aggressively. Japanese retail traders grappled with AI fever and off-exchange boom, pushing average daily trading volume on the Tokyo Stock Exchange's prime market nearly double year-over-year.

Asia-Pacific Banking & Finance

Singapore's regulator instructed banks to accelerate account openings for wealthy clients, aiming to strengthen the city-state's position as a wealth hub after money-laundering cases lengthened wait times. Bank lending to UK businesses fell to the lowest level in nearly 30 years amid weak growth and tighter regulation, while HS2 paid consultancies £65 million in the run-up to a project reset that will likely raise taxpayer questions. Centerbridge held talks to acquire a stake in a $3 billion real estate firm amid increased commercial property acquisitions.

Commodities & Agriculture

Fertilizer groups cut production as the Iran war squeezed sulfur supplies, putting farmers in poorer countries at risk of lower crop yields from reduced phosphate application. Chinese firms accelerated coal power plant proposals even as the government attempted to rein in growth following rapid recent expansion. Wine, truffles and honey emerged as potential tools for Europe to fight wildfires, with countries discovering serendipitous environmental benefits from premium agricultural products.

Political Risk & Emerging Markets

Resurgent political risk derailed rallies across emerging markets from Latin America to Eastern Europe, slamming investor bets amid fresh waves of turmoil. Investors can no longer rely on a policy put as policymakers' capacity to respond to shocks declined across the board. The ECB summoned banks to stress the seriousness of risks exposed by latest AI models, while short sellers reaped over $2.3 billion betting against gambling companies amid prediction market popularity surges in the U.S. and tax pressures in the UK.

IPO & Market Structure

IPO mania potentially signaled market tops as a deluge of AI-related equity supply threatened to remove upward pressure on prices. The Mandalorian and Grogu topped box office charts with $102 million in domestic receipts over the holiday weekend, marking Star Wars' return to theaters after seven years. West Ham's relegation ended a 14-year Premier League spell as Tottenham secured survival in English football's top flight.