Public Markets 24 Hours

Last updated: June 22, 2026, 5:30 PM ET

Global Markets & Macroeconomics

Oil futures tumbled 1.3% as Iran gained clearance to sell crude in dollars, a move that could boost its sales amid ongoing geopolitical tensions. This development follows Iran's successful shipment of 30 million barrels in the week before a U.S. sanction waiver, effectively flooding the global market with its crude for the first time in 35 years. The flow of oil through the Strait of Hormuz has reached its fastest pace since the Iran war began, despite Tehran's claims of the chokepoint being shut. However, European natural gas prices edged highernatural gas prices as initial U.S.-Iran peace talks showed a shaky start, with President Trump issuing fresh threats. Meanwhile, copper prices rose on peace talk progressprices, easing inflation fears and boosting expectations of improved traffic through the Strait of Hormuz. European equities may struggle to keep pace with U.S. and emerging market peers in the second half of the year, as falling oil prices threaten a key source of earnings growth.

Technology & AI

Sony plans its first dollar-bond sale in nearly three decades, signaling a renewed push into the U.S. investment-grade market. The tech giant's move comes as artificial intelligence spending accelerates, with technology stocks poised to extend their rally for at least another couple of quarters. SpaceX is marketing its debut high-grade bond sale to fund its AI ambitions following a record $75 billion IPO, though its shares have erased $600 billion in market valueshares have over three consecutive days of declines. Google is investing about $75 million in the studio A24 as part of an AI research partnership, while Chevron is entering power productionpartnership, while with a Microsoft AI deal for a data center. The rapid advancement of AI has prompted Western governments and corporations to caution that their lead may not last long, with AI-powered threats potentially succeeding "within months". Concerns also arise over consumers' fear-based reactions to AI, which may be more damaging to the economy than the technology itself.

Corporate & Dealmaking

CRH Plc agreed to acquire Arcosa for $8.5 billion, marking the Irish building materials provider's largest deal to date. In the pharmaceutical sector, Abb Vie is buying Apogeethe pharmaceutical sector for $10.9 billion, its largest acquisition in over half a decade, amid a surge of M&A activity. Domino's Pizza has appointed Joe Jordan, its operations chief, to succeed current CEO Russell Weiner as the company navigates a challenging period for the pizza industry. OTB Hospitality, the operating company behind On The Border Mexican Grill, has filed for Chapter 7 liquidationMexican Grill, has, closing all company-owned locations, though franchised restaurants continue to operate independently. Elsewhere, Easy Jet Plc has rejected three separate takeover offers from Castlelake LP, with the investment firm now taking its latest proposal, valuing the budget carrier at approximately £4.74 billion ($6.3 , directly to shareholders.

Fixed Income & Currencies

Venezuela's bonds tumbled to their lowest level in two months as investors braced for a review of the nation's debt burden and economic outlook. Meanwhile, Mexico is tapping global bond marketsMeanwhile to fund a debt buyback, facing pressure from credit-rating agencies to curb its deficit. European Central Bank President Christine Lagarde stated that any Group of Seven talks on currency valuations need to include China, and she sees no need for a more forceful ECB response to the Middle East conflict, expecting inflation to return to target over the medium term. Japan's insurers sold domestic super-long government bonds in May, reversing their earlier stance as yields climbed to multi-decade highs.

Energy & Commodities

A heat wave gripping western Europe is intensifying, with France on red alert and record-breaking temperatures forecast across several countries. This weather phenomenon is straining fuel supply chainsis along the Rhine River, forcing barges to operate at reduced capacity. In the U.S., natural gas futures gained on July weather outlooksfutures due to increased cooling demand, although rising production limited gains. Separately, a blast at Qatar's Ras Laffan industrial complex has injured dozens and left 18 missing, though the country anticipates no impact on liquefied natural gas exports.

United States & Politics

A fatal Tesla crash in Texas, where the driver reportedly used Autopilot, is now under federal safety investigation. The Justice Department has eased its stance on prosecuting usershas of "defeat devices" that bypass pollution controls on diesel trucks, a move that could allow for faster and more efficient but dirtier vehicles. The Interior Department is also proposing to relax rules for drilling on public lands, potentially lowering costs for fossil fuel companies. In New York, primaries will offer clues on progressive momentum and Mayor Zohran Mamdani's influence.

International & Geopolitics

Ukraine is escalating attacks in Crimea, creating a new pressure point for Russia as Moscow's forces push closer to key cities in the Donbas region. The UK saw its markets react calmly to Prime Minister Keir Starmer's resignation, though economic uncertainties linger and bond investors are plotting the market impact of his possible replacements. In Colombia, bonds rose after market favorite Abelardo de la Espriella won the presidential electionIn Colombia, bonds, signaling a potential swing to market-friendly policies. Chinese carmakers are considering manufacturing deals in Canada to leverage low-tariff import quotas for their electric vehicles. China has also tightened trading restrictions with some U.S. rare earth companies, retaliating against U.S. actions and potentially threatening a trade clash.

Other Markets & Developments

Exchange-traded funds are attracting cash at a record-breaking pace, surpassing $1 trillion in inflows despite persistent inflation and market volatility. CME Trading was disrupted as the platform experienced "disconnects" midday Monday. In the cryptocurrency space, Michael Saylor's Strategy Inc. bought $39.4 million of Bitcoin, again using common stock to fund purchases. The music industry mourns the death of executive Clive Davis, who shepherded stars like Whitney Houston and Barry ManilowManilow.