Public Markets 24 Hours

Last updated: May 29, 2026, 2:32 PM ET

Energy & Commodities

Oil prices retreated further as U.S. and Iranian officials closed in on a preliminary agreement to extend the ceasefire, easing concerns about supply disruptions through the Strait of Hormuz. Brent crude futures posted their steepest monthly decline since 2020, falling alongside gold prices that held near $2,340 per ounce as traders awaited final confirmation on diplomatic breakthrough. TotalEnergies confirmed its oil trading operations generate approximately $2 billion in annual profits, providing steady returns amid volatile physical markets. Sugar futures jumped the most in a month in New York trading on worries that an emerging El Niño pattern could damage India's cane crop, the world's second-largest producer.

Equities & Technology

Dell Technologies shares in premarket trading after the company reported robust data-center revenue and secured a Pentagon contract, exemplifying Wall Street's fervent appetite for AI-linked equities. Ford Motor Co. stock is poised for its strongest monthly performance in 17 years, buoyed by investor optimism that the automaker could benefit from artificial intelligence infrastructure spending. However, BlackRock is scaling back equity exposure across its $220 billion model-portfolio business as U.S. stocks reach record highs. European equities notched a second consecutive monthly gain while industrial metals headed for their best monthly advance since January on Middle East de-escalation hopes.

Fixed Income & Currencies

Treasury yields are set for their best week since the Iran conflict began, with the 10-year note trading near 4.2% after Deutsche Bank strategists raised their year-end forecast on expectations of delayed Fed easing. Japan's unprecedented yen intervention saw authorities spend more than $73 billion between late April and May to support the currency, while two-year JGB yields edged higher after a lukewarm auction signaled potential Bank of Japan tightening. Italy's economy grew more than initially estimated at the start of 2026, contrasting with France's unexpected contraction that raised concerns over regional resilience to energy shock.

Mergers & Acquisitions

CVC Capital Partners agreed to acquire International Flavors & Fragrances' food ingredients division for $4.3 billion, continuing private equity's push to carve out underperforming assets from large corporates. The transaction marks one of the largest strategic divestitures in the consumer staples sector this year. Meanwhile, Malaysia's Big Caring Group is seeking up to $750 million in an IPO that could rank among the country's largest offerings, and German drone startup Stark is targeting a €2.5 billion valuation in its upcoming fundraising round.

Cryptocurrency & Derivatives

Kalshi launched the first perpetual futures contracts available to U.S. investors, following CFTC approval that brings popular crypto trading instruments to regulated onshore platforms. The development represents a significant milestone for American cryptocurrency adoption as traditional financial institutions embrace derivatives trading. However, spot Bitcoin ETFs over nine consecutive sessions, marking the longest outflow streak since inception and signaling cooling retail demand.

Geopolitical Risk & Markets

Louisiana's new congressional map eliminates a majority-Black district after the Supreme Court rejected the previous boundaries as an illegal racial gerrymander, potentially reshaping electoral dynamics in the South. Brazilian President Lula blasted U.S. terrorism designations for two major criminal groups as a sovereignty threat that won't address the nation's security challenges. Hungary's government stands to receive €16 billion from the EU after enacting anti-corruption measures, while Israeli ground forces crossed Lebanon's Litani River as cease-fire negotiations continued with U.S. mediation.

Banking & Monetary Policy

HSBC strategist Kettner argued that robust Q1 earnings from technology megacaps have provided fundamental support to equity markets, reducing concerns about elevated Treasury yields. Fed's Schmid emphasized that officials must remain focused on inflation despite geopolitical uncertainty, while ECB's Panetta acknowledged the case for rate hikes without committing to a predetermined tightening path. Credit Agricole tapped the samurai bond market with ¥106.5 billion in issuance, offering wider spreads than domestic debt amid rising yen rates.

Emerging Markets & Trade

Rio Tinto's aluminum exports to the U.S. have rebounded to pre-tariff levels, signaling normalization in trade flows despite ongoing Section 232 duties. China's export prices rose at their fastest pace in three years, breaking a prolonged deflationary streak as energy costs surged and AI demand lifted metal values. Zambia's bondholders drove yields lower after the government launched a $1.36 billion tender offer for its 2053 debt, joining other African nations in debt restructuring efforts. IndiGo reported an unexpected quarterly loss as Middle