Public Markets 24 Hours

Last updated: May 28, 2026, 8:33 AM ET

Energy & Commodities

Oil futures jumped 2.1% in early trading after the U.S. military shot down four Iranian attack drones, with crude prices climbing further to $87.40 a barrel following fresh strikes on Iranian targets. The Middle East supply shock is now projected to drive global oil investments lower for a third consecutive year, while copper swung between gains and losses as traders weighed the elusive prospect of an Iran deal against persistent geopolitical risk. In precious metals, gold slumped to a two-month low near $3,200 an ounce as a stronger dollar and fading peace hopes kept inflation risks elevated, prompting foreign official institutions to offload Treasuries amid the greenback's surge.

Banking & Financial Services

Toronto-Dominion Bank lifted its dividend payout by 5% after reporting strong underlying performance in its latest quarter, joining Royal Bank of Canada and Bank of Montreal in returning cash to shareholders. Across the Atlantic, European lenders raced to issue Additional Tier 1 bonds with decade-long call dates, seizing ultra-favorable conditions in the risky bank debt market. Meanwhile, Canadian Imperial Bank of Commerce agreed to sell its Caribbean arm for $1.6 billion to redirect capital toward North American growth, even as Deutsche Bank shareholders rejected a proposed pay raise for Supervisory Board Chairman Alexander Wynaendts. Societe Generale's CEO acknowledged the bank's efficiency remains "at bottom of class" despite three years of restructuring, while Nomura Holdings raised profit targets 50% after posting record earnings and pushing for stable growth.

Retail Earnings Beat Broad Market Weakness

Department store chain Kohl's narrowed its quarterly loss to $19 million from $128 million a year earlier, buoyed by better same-store sales that rose 2.3% amid its turnaround efforts. Discount retailer Dollar Tree posted higher profit and revenue as consumers continued relying on the company for low-cost goods, while Best Buy reported rising sales in gaming, computers and cellphones that boosted first-quarter profit 8% to $312 million. Off-price apparel chain Burlington Stores raised its full-year outlook after logging 6.1% comparable sales growth, and sporting goods retailer Dick's posted revenue growth as Foot Locker returned to positive territory following a turnaround initiative. These results come amid S&P 500 futures falling 0.3% as Middle East hostilities fueled doubts about an imminent war resolution.

Technology & AI Infrastructure Push

Next Era Energy is betting its proposed acquisition of Dominion Energy's gas infrastructure assets can accelerate U.S. power grid modernization to meet surging artificial intelligence data center demand, with the combined entity potentially breaking through infrastructure bottlenecks. European drone manufacturers Quantum Systems and Destinus are lining up advisers for potential IPOs as early as 2027, seeking to capitalize on unmanned aerial vehicle demand across defense and commercial sectors. Chinese AI startup Mini Max more than doubled annualized revenue to at least $300 million over two months ahead of launching its next flagship model, while JD.com founder Liu Qiangdong pledged to protect the company's 900,000-strong workforce from job losses due to automation. The Guangzhou Futures Exchange is studying night trading for platinum and palladium contracts in response to trader demand.

Real Estate & Consumer Trends

The United Kingdom could miss its housing target by 40% or more, falling short of the goal to add 1.5 million homes in the current parliamentary term, according to Bloomberg Intelligence research that warns of a growing supply gap. Meanwhile, inbound tourism to China surged as Beijing's "China-maxxing" strategy draws international visitors, providing an economic boost amid weak domestic demand. Athletic wear maker Lululemon, which generated $1 billion in free cash flow last year, faces speculation about a potential take-private transaction as the company grapples with slowing growth in North American markets.

Healthcare & Consumer Staples

Hormel Foods reported lower second-quarter profit of $187 million compared with $213 million a year earlier, with the company forecasting full-year earnings below expectations despite progress on its turnaround strategy. Johnson & Johnson pursued cancer biotech acquisitions on favorable terms, though its partnership-heavy approach has left the pharmaceutical giant exposed to competitive pressures. Scientists identified a potential cure for chronic hepatitis B that could help 1 in 5 patients who don't recover from the infection naturally, offering hope for treating a condition that affects approximately 250 million people globally.

Market Volatility & Geopolitical Risk

The return of calm to U.S. bond markets following Iran war turbulence is proving short-lived, with options traders positioning for renewed volatility as geopolitical uncertainty persists. Senator Elizabeth Warren pressed Bilt Rewards for data on its rocky relaunch of a rent-payment credit card, citing inaction by the Consumer Financial Protection Bureau under the Trump administration. Small-cap Swedish semiconductor firm Sivers became one of Sweden's most-shorted stocks after soaring 1,700% this year, as leveraged ETFs tied to chipmakers threaten to amplify market concentration according to Goldman Sachs analysis.