Public Markets 24 Hours

Last updated: June 2, 2026, 11:33 PM ET

Equity Markets

The S&P 500 tied its longest streak since 1995 with a ninth consecutive session of gains as artificial intelligence enthusiasm swept through markets. Asian stocks poised to extend gains tracked Wall Street's advance, with the tech-heavy Nasdaq outperforming amid continued AI momentum. In India, IT stocks soared as Nvidia CEO Huang calmed AI disruption fears, with March-quarter earnings indicating a gradual pickup in growth. Meanwhile, Applied Aerospace & Defense raised $650 million in its IPO, underscoring investor appetite for space and defense engineering firms.

Fixed Income & Currencies

Japanese government bonds fell on technical correction after solid price gains across most sovereign notes, tracking overnight movements in U.S. Treasurys. Treasury yields remained steady amid no visible progress in U.S.-Iran talks to reopen the Strait of Hormuz. In currency markets, the yen slide paused before the key 160 level against the dollar as traders weighed intervention risks from authorities. Emerging market currencies advanced broadly as Iran and the U.S. stepped back from hostile rhetoric, boosting risk sentiment globally.

Energy & Commodities

Oil prices rose amid continuing Middle East tensions as the Strait of Hormuz remained closed, with Brent crude gaining 2.4% to $84.50 per barrel. The gains extended as signs emerged that U.S.-Iran peace talks were struggling to remain on track, though prices later pared gains after Trump efforts to broker an Israel-Hezbollah ceasefire. In precious metals, gold finished higher with front-month contracts rising 0.3%, though edged lower after robust U.S. jobs data reinforced bets that the Federal Reserve would keep interest rates higher for longer.

M&A & Capital Markets

SpaceX sought $75 billion in its initial public offering by selling 555.6 million shares at a target price of $135 per share, eyeing a roughly $1.75 trillion valuation that would make it one of the world's most valuable companies. The company planned to set IPO terms as soon as Wednesday ahead of what's expected to be the biggest ever listing. Elsewhere, Hong Kong's Jardine Matheson sought an around A$1.5 billion ($1.1 billion) loan to fund its takeover of Australian medical diagnostic imaging provider I-MED Radiology Network. In the debt markets, QXO Building Products launched a $3 billion junk-bond offering to fund its purchase of rival Top Build Corp., receiving more than triple the amount in demand from investors. Meanwhile, Brazil's Raizen prepared to present creditors with a final restructuring proposal for its $13 billion debt overhaul as soon as Wednesday.

Geopolitical & Economic Events

The U.S. Treasury imposed sanctions on Iran's biggest crypto exchange, Nobitex, and several of its executives accused of helping the Iranian government evade sanctions and finance militants. In China, authorities extended outbound investment regulations to explicitly cover individual investors for the first time, potentially raising compliance hurdles for tech founders and ordinary citizens seeking to move capital abroad. Venezuela's National Assembly debated a reform that would open the country's electricity sector to private investment, allowing companies to generate, distribute and sell power under government concessions as the nation seeks foreign capital to rebuild its infrastructure.

Corporate Performance

Game Stop posted its highest profit ever driven by its collectibles business, with shares climbing as much as 13% in after-hours trading. The video-game retailer launched a $2 billion buyback program after reporting quarterly sales of $835.3 million. In retail, Ulta Beauty reported revenue growth of 11% in the fiscal first quarter across channels and major categories, while Victoria's Secret swung to a $47.7 million profit in the first quarter from a loss a year earlier, driven by strong bra sales. In cybersecurity, Palo Alto Networks reported rising revenue as customers beefed up their defenses against increasingly sophisticated cyber threats, with CEO Nikesh Arora dismissing concerns about AI-native firms displacing legacy software incumbents.