Public Markets 24 Hours

Last updated: May 30, 2026, 8:31 AM ET

Equities & IPO Markets

US stocks closed out a strong May with their longest weekly winning streak since 2023, as AI enthusiasm and hopes for an Iran ceasefire deal lifted markets to fresh records. Ford Motor Co. shares recorded their best monthly gain in 17 years, buoyed by investor speculation about the automaker's potential role in the artificial intelligence boom, while Dell Technologies stock soared 150% since President Trump's account purchased more than $1 million worth amid data-center revenue growth and a Pentagon contract. HSBC strategists noted that blowout first-quarter corporate earnings, particularly from technology megacaps, have provided fundamental support to the rally and dimmed worries about elevated Treasury yields. However, sky-high IPO pricing for companies like SpaceX, OpenAI and Anthropic has raised concerns about poor prospects for ordinary investors, as newly public companies valued at rich multiples have historically underperformed for retail participants.

Trading & Market Structure

Citadel Securities reported record trading revenues of $4.3 billion in the first quarter, with $1.9 billion in net income as oil prices and Treasury rates fluctuated amid Iran volatility. The market maker lost its court fight over IEX Group's new options venue that intentionally slows orders, after a federal appeals court rejected its bid to block the exchange. Meanwhile, Kalshi launched the first perpetual futures in the US under CFTC approval, giving investors access to crypto trading through the prediction market's platform as regulators opened the door to the trillion-dollar offshore perpetual contract market. Wall Street dumped crash hedges as most-shorted stocks jumped 30%, making caution the most expensive position amid the rally.

Fixed Income & Credit Markets

Treasuries trimmed Iran war losses on the week, with the bond market posting gains as oil prices retreated on hopes of an agreement to end the conflict. Municipal bond funds attracted near-record cash as higher yields and the approaching summer reinvestment season drew investors back to the tax-exempt market. JPMorgan Chase continued its international expansion push in retail banking, gaining traction in markets outside the US as the bank pursues what it calls the "golden fleece" of consumer deposits. The moves come amid hedge funds turning bearish on US natural gas for the first time since 2024, citing plentiful domestic supplies and reduced export expectations.

Cryptocurrency & Digital Assets

Crypto treasuries shifted toward risky equity strategies in a bid to raise cash, following Michael Saylor's Strategy into so-called digital credit instruments. The trend coincides with US regulatory approval for perpetual futures trading, which could unlock access to a trillion-dollar offshore crypto market previously beyond CFTC oversight. OpenAI has discussed adding Citigroup and JPMorgan Chase to its bank lineup for an upcoming initial public offering, as the artificial intelligence company contemplates its public market debut.

Commodities & Energy

Historic cattle shortages pushed US beef prices to record highs as high feed costs and drought thinned herds to the lowest levels in 60 years, with protein-hungry consumers driving demand. Asian rice prices surged 20% in May, posting their biggest monthly jump in nearly two decades as war and weather threatened output across the region. TotalEnergies disclosed that its oil trading activities generate approximately $2 billion in annual revenue, providing rare insight into the scale of the French major's trading operations. Rio Tinto Group reported that aluminum exports to the US rebounded to pre-tariff levels, signaling a recovery in trade flows disrupted by President Trump's tariff offensive.

Mergers & Acquisitions

EasyJet drew takeover interest from private credit firm Castlelake in a potential deal that would remove another UK-listed company from public markets. Universal Music Group rejected Bill Ackman's $65 billion buyout offer, with the company's largest shareholder opposing the deal on grounds it undervalued the world's largest music company. China's Zijin Mining faced delays to its $4 billion acquisition of Allied Gold as the target's largest mine in Mali encountered regulatory complications following arrests of foreign executives.

Corporate Strategy & Leadership

Meg O'Neill assumed leadership at BP amid a crisis triggered by a "bullying" scandal that led to Chairman Albert Manifold's removal, as the company navigates both governance issues and attempted turnaround efforts. TotalEnergies cleared the path for CEO Patrick Pouyanné to extend his tenure beyond 2030, with shareholders approving higher age limits for top jobs as the board begins succession planning. Meanwhile, BlackRock scaled back equity exposure across its $220 billion model-portfolio business as US equities surged to record highs following strong earnings season performance.

Geopolitical Risk & Trade

China pledged to retaliate if the European Union proceeds with new restrictive trade measures, with officials warning they would respond "resolutely" to any additional tariffs or restrictions. Hanwha Aerospace entered discussions with Germany, the UK and other European nations for new weapons deals, seeking to capitalize on global arms spending surges triggered by conflicts in Ukraine and elsewhere. Vietnam's leader To Lam warned that military power alone cannot ensure security and called for mechanisms to prevent conflicts from spiraling, addressing a major Asian defense forum. The comments come as Hungary's president signaled he would not resign, setting up a confrontation with the country's new government over institutions still controlled by appointed officials.