Public Markets 24 Hours

Last updated: June 10, 2026, 11:35 AM ET

Inflation & Monetary Policy

U.S. inflation accelerated to 4.2% in May, marking a new three-year high as the Iran conflict pushed energy prices higher, while core CPI rose less than forecast easing some pressure on Federal Reserve officials weighing their first rate hike under incoming Chair Kevin M. Warsh. Bond traders maintained bets on a Fed hike this year despite the softer underlying inflation print, with Treasury futures pricing in September cuts even as markets grapple with elevated price pressures. The euro strengthened against the dollar on mounting speculation that the European Central Bank might raise rates and signal back-to-back moves, while gold slumped below $4,200 as renewed U.S.-Iran clashes tested the fragile ceasefire.

Equity Markets & IPOs

Wall Street braced for SpaceX's market debut with stress tests and trading desk preparations as Gulf wealth funds reportedly submitted billions in orders for the rocket company's shares, setting up what could turn 4,400 employees into millionaires. Tech stocks wavered ahead of the IPO amid oil's rally and Middle East tensions, while Oracle's earnings pose a critical test for the shaky AI stock rally that has lost momentum. Autonomous truck maker Einride began trading on Nasdaq after completing a blank-check merger valuing its equity at $1.35 billion, and ERock raised $600 million in its own IPO pricing shares at the midpoint of the marketed range. S&P 500 futures fell 1.1% as technology weakness persisted following overnight U.S.-Iran exchanges.

Fixed Income & Credit Markets

Pacific Investment Management Co. warned of an emerging credit loss cycle as heavy AI spending could widen economic outcomes and pressure lower-quality borrowers, with Pimco favoring quality bonds amid growing concerns over corporate defaults. Commerzbank raised fresh doubts about UniCredit's takeover bid acceptance levels after the Italian bank increased its stake to 37.7% through latest acceptances, signaling potential complications in Europe's largest cross-border banking deal. Ares raised $8.5 billion for its newest fund despite private markets turmoil, underscoring demand for debt backed by data centers, railcars, and other alternative assets.

Energy & Commodities

Oil prices jumped amid Middle East tensions after attacks strained a two-month ceasefire, with Shell's CEO projecting continued upside pressure even after the conflict ends as "all the easy oil and gas has been found." Aluminum fell to one-month lows on Iran escalation and U.S. rate hike expectations, while palm oil stockpiles in Malaysia jumped at the fastest pace in five months as exports slumped despite weaker production. Iraq accelerated oil loadings at its main port and boosted Persian Gulf shipments as OPEC producers worked to move more barrels through the Strait of Hormuz.

Corporate Finance & M&A

Amazon inked a $17.5 billion loan led by Citigroup as the tech giant bolsters liquidity, while Citi's CFO projected trading revenue gains across asset classes amid sustained momentum in the bank's turnaround. DCC prepared to accept a £5.7 billion KKR offer from private equity firms after improved terms valued the firm at approximately $7.6 billion, and WH Smith shares hit 16-year lows after cutting guidance and launching capital raises as Middle East war impacts airport retail sales. Chewy reduced its full-year outlook to $13.4-$13.55 billion despite higher sales and profit, citing cautious consumer spending.

Market Volatility & Sentiment

Bitcoin's selloff pushed half its supply into loss-making territory as the cryptocurrency's decline left more holders underwater than at any point since late 2024, with prices finding only a bounce rather than a bottom amid structural concerns. Hedge costs for the $9 trillion S&P 500 rally jumped sharply ahead of Fed decisions as sentiment shifted from fear of missing out to fear of getting wiped out. BoFA's red flags warned of underlying danger in U.S. stocks despite recent rebounds, while investors grew jumpy amid persistent geopolitical uncertainty and the inflation picking investors' pockets through persistent price pressures.