Public Markets 24 Hours

Last updated: June 13, 2026, 8:35 AM ET

Capital Markets & IPO Activity

SpaceX's landmark initial public offering captured Wall Street's imagination as bankers successfully positioned the largest IPO in history despite steep losses and Elon Musk's tight control, with JPMorgan Chase serving as party host and serving branded tomahawk steaks to celebrate what one columnist called a display of Musk's dominance. Options trading begins Tuesday for the space venture, while other space stocks tumbled as investors raced toward Musk's offering, and analysts warn that rampant IPO enthusiasm has buoyed tech shares to levels that defy gravity. The offering could mint up to 20 new billionaires from three mega-IPOs including Anthropic and OpenAI, as terrestrial valuations prove inadequate for measuring the company's cosmic ambitions.

Energy & Commodities

Oil futures touched a three-month low around $72 per barrel after President Trump signaled a peace deal with Iran was within reach, sending stocks higher as traders priced in reduced energy shock risks. However, Bundesbank President Joachim Nagel warned prices will likely stay elevated longer even if the conflict ends soon, while U.S. strikes on Iranian drones near the Strait of Hormuz added to supply uncertainty despite Middle East fuel exports rebounding as more tankers navigated through the chokepoint. The headline inflation rate hit 4.2%, the highest since April 2023, and the CFTC considers blocking CME's 24/7 oil contract bid amid heightened tensions between the exchange and regulators.

Private Markets & M&A

Private equity titans continue fighting back in the court of public opinion as perception problems outweigh actual performance issues, while Matt Holt's Thoreau Group nears a $12 billion acquisition of Ensemble Health Partners in one of the largest healthcare deals of the year. Apollo Global selected Austin as its second headquarters over Miami and Palm Beach, citing capacity constraints in Florida's private schools, and UK housebuilder Vistry offered voluntary redundancy to preserve cash amid a market slowdown. Anjney Midha's AMP PBC plans to turn GPUs into utilities, potentially reshaping compute costs through what the founder calls radical pricing changes.

Technology & AI

Big Tech companies no longer print money—they need it as artificial intelligence transforms the stock market landscape, with Samsung factory workers seeing windfall bonuses that have turned their town into a luxury hotspot. European tech sovereignty efforts represent a doubtful goal but potentially significant investment opportunity given the continent's weak starting point, while Corning rides the AI boom with CEO Wendell Weeks hedging against potential downturns after remembering dot-com crash lessons. MetaX Integrated Circuits plans a Hong Kong listing to capitalize on the chip stock boom following a blockbuster mainland IPO.

Currency & Fixed Income

Traders turned most optimistic on the dollar in more than a year as Middle East tensions supported the currency's haven status, though HSBC notes the euro faces stacked risks despite proving relatively stable during geopolitical uncertainty. Goldman Sachs rates traders say markets fairly price the Federal Reserve's path as traders position for potential rate hikes to combat war-driven inflation, while European defence stocks retreated on lower spending and higher wrangling following the UK defence secretary's resignation.

Political Developments

President Trump's octogenarian leadership continues facing headwinds as white working-class voter support erodes on economic handling, while Jeffrey Epstein's shadow haunts the White House in ways the administration cannot wish away. U.S. Ambassador Sergio Gor transforms diplomatic roles in the Trump era by chasing business deals and reversing planned embassy projects, and the Kennedy Center began removing Trump's name from its facade after a judge's order. Federal agents searched a voting rights group in Ohio amid unclear investigation parameters, and anti-immigrant riots in Belfast left the city on edge after two nights of violence targeting people based on skin color.

Corporate Governance

Bath & Body Works pursues younger consumers through product improvements, influencer hiring, and store updates, while Jeep owners face growing recall reality with one million vehicles now included in park-outside fire campaigns. McDonald's 7