Public Markets 24 Hours

Last updated: June 2, 2026, 5:33 AM ET

Energy & Commodities

Oil prices slipped 1.3% in early Asian trade as President Trump pushed for a ceasefire between Israel and Hezbollah, though futures later rose 0.8% as traders weighed mixed signals over U.S.-Iran negotiations. The precious metals market witnessed gold's ascension to become the world's top reserve asset, with central banks boosting the metal's share of reserves to 27% as they diversify away from the dollar. Aluminum surged to a four-year high extending its 2024 gains amid tighter global supply conditions, while HSBC warned that commodities are in a "super-squeeze" that will intensify if the Strait of Hormuz remains effectively closed. European natural-gas prices fell 3.2% after Trump indicated Iran talks were continuing, though losses were limited by uncertainty about reaching a final agreement.

Currency Markets

The dollar eased 0.4% after Lebanon announced a partial ceasefire between Iran-backed Hezbollah and Israel, while the euro's global usage rose slightly in 2025 but remained well below the dollar's supremacy. In Asia, China's yuan strengthened to its highest level in nearly four years versus a basket of trading-partner currencies, underscoring the appeal of Chinese assets as a regional haven during the Iran conflict. Poland's central bank is poised to hold interest rates unchanged for a third consecutive month as an unexpected drop in the inflation rate relieved pressure to tighten monetary policy.

Equity Markets

U.S. stock futures paused after an eight-day winning streak as investors took profits following the artificial-intelligence fueled rally that propelled the S&P 500 to its longest streak in over a year. European stocks gained 1.2% led by AI optimism, with the FTSE 100 poised for a rebound as the pound climbed. Paris-listed STMicroelectronics jumped 8.2% after the chip maker raised its data-center revenue target, adding to a rally that has nearly tripled the stock's value since the start of the year. South Korea's equity market has overtaken India's as the world's sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout.

AI & Technology

America's AI boom is carrying more weight than investors admit, with the economy, profit cycle, and market narrative all leaning on the same narrow pillar. STMicroelectronics raised its data-center revenue target while HPE pulled forward long-term targets as surging AI compute demand boosted revenue. Anthropic filed to go public setting the stage for a potentially massive IPO after securing a $5 billion investment from Salesforce. China's robotics firms are lining up IPOs to pitch the next phase of AI development as the country positions itself as the global fulcrum for artificial intelligence advancement. Meanwhile, convertible bonds are set for a record year as issuers harness the AI boom with zero-interest debt offering options on high-growth tech stocks.

Trade & Policy

European Union lawmakers gave preliminary approval to a US trade deal, clearing a path for final ratification before President Trump's threatened deadline to impose new tariffs. Trump targeted Brazil with a 25% tariff citing unfair trade practices, marking the latest effort by the administration to rebuild its tariff agenda through Section 301 investigations. In Canada, Trade Minister Dominic LeBlanc stressed the importance of "maintaining the highly integrated North American energy market" ahead of talks in Washington. India is set to bargain hard in trade talks with the US and UK this week, testing New Delhi's ability to secure stronger protections for exporters in Asia's third-largest economy.

Emerging Markets

India's annual monsoon rains are likely to arrive around Thursday in Kerala state on the country's southern tip, a few days after the official start date, with precipitation crucial for farm output. Australia's winter wheat crop