Public Markets 24 Hours

Last updated: June 24, 2026, 8:30 PM ET

Technology & AI

Shares of semiconductor companies surged in extended trading, buoyed by an upbeat forecast from Micron Technology that reignited confidence in the artificial intelligence trade. Micron’s strong financial report, which saw profits soar nearly 1,400% amid a global memory chip shortage, underscored AI’s role as a major market driver and projected shortages to last beyond 2027 31. This AI-fueled rally sent Nasdaq futures higher and positioned Asian stocks for gains. Qualcomm also saw its shares jump as much as 15% following an announcement that Meta Platforms will be its first major customer for data center chips. The chipmaker further bolstered its AI capabilities by agreeing to acquire AI software firm Modular for $3.9 billion. Meanwhile, the immense power demands of AI are driving growth in the electricity sector, with Sunrun Inc. jumping over 30% on a deal with Tesla Inc. to supply power for data centers and utilities. Australia's power needs are also set to double by 2050, partly due to data center demand.

Energy Markets

Oil prices extended their drop, nearing a full reversal of wartime gains as supply swells and progress is reported on a US-Iran peace deal. Key oil market indicators have flipped to a bearish structure, with supply from the Strait of Hormuz increasing following the US-Iran agreement. Despite this, US oil shale executives expressed frustration, stating the White House’s erratic communications regarding the Iran conflict are sowing confusion and hindering planning. Gasoline prices in Russia have jumped, adding to inflationary pressures and reinforcing the central bank's cautious policy stance. Japan's liquefied natural gas-related stocks are expected to benefit from rebuilding energy infrastructure in the Persian Gulf and diversification efforts. Chinese solar manufacturer Jinko Solar Co. anticipates reaching breakeven this year as government measures aim to alleviate chronic overcapacity in the sector.

Financial Services & Investment

Major US banks successfully cleared the Federal Reserve’s annual stress tests, promptly allowing for increased share buybacks and dividends. JPMorgan Chase and Goldman Sachs boosted their dividends after passing the tests, which were somewhat eased this year with the Fed releasing details in advance. Hedge funds' growing exposure to Treasuries is primarily attributed to the revival of the cash-futures basis trade, according to the Federal Reserve. Canadian vitamins and supplements maker Jamieson Wellness Inc. is reportedly exploring a sale and has engaged BMO and Canaccord Genuity for advisory services. Blackstone Inc.'s loan on a Chicago office tower has defaulted, signaling ongoing challenges for landlords in the commercial real estate sector. In the UK, bank stocks are poised for a rally against their European peers, benefiting from strong profitability growth and capital generation.

Geopolitics & International Affairs

The US requested $88 billion from Congress, largely for the war with Iran, though the proposal faces significant skepticism and is considered unlikely to pass the Senate. Meanwhile, a US-Iran agreement to open the Strait of Hormuz is rapidly increasing oil supply to global markets. China's climate envoy stated that oil and gas shortages stemming from the conflict should accelerate global energy transitions. In Europe, heat waves are breaking records, with France experiencing its hottest June day and Britain predicted to follow suit. The European Union Aviation Safety Agency has mandated inspections for some Airbus A380 jets due to potential wing cracks. US Politics & Policy

President Trump canceled plans to sign a bipartisan housing bill designed to increase supply and curb institutional investors' role in the property market. Democrats are grappling with internal divisions, as evidenced by primary victories for leftist candidates in New York, defying calls from some leaders to moderate the party's platform. The Democratic Socialists of America demonstrated significant political power in these elections, with traditional campaign tactics proving insufficient against their ground game. The US has been urged to streamline permitting for energy infrastructure, including pipelines, as seen in the recent record string of negative natural gas prices in the largest US shale field.

Corporate & Business Deals

Volkswagen AG is nearing a deal for Bain Capital to acquire a controlling stake in its heavy diesel engine unit, Everllence. In the aviation sector, Lockheed Martin secured a U.S. contract worth over $35 billion for THAAD missile systems, part of a Defense Department initiative to stockpile weapons. Dubai Holding is considering an investment in Hscale, a private equity-backed data center builder, as part of its European portfolio expansion. The European defense sector is seeing shifts, with tankmaker KNDS NV beginning the process for an IPO in Frankfurt and Paris. Asia Markets

South Korea’s stock market is experiencing record volatility, drawing comparisons to meme-stock frenzies, particularly in the choppy trading of chipmakers like Samsung and SK Hynix amid AI jitters. India's benchmark bond yields and swap rates have fallen to three-month lows as the Reserve Bank of India Governor suggested talk of rate hikes is premature. In a significant development for India's tech scene, Kunal Shah, experienced in building transaction platforms, is set to lead WhatsApp. Taiwan's chip industry boom is fueling a rise in fortunes, luxury buildings, and birth rates in its central city.

Other Notable Developments

Gold steadied near $4,000 an ounce, facing pressure from a stronger U.S. dollar and the prospect of higher interest rates. Bitcoin has fallen below $60,000 again, raising concerns about market fragility as retail buyers retreat and institutional interest wanes, 102. In Brazil, the Senate leader from President Luiz Inácio Lula da Silva’s party resigned following a police investigation into ties with a failed lender. The U.K. regulator has dropped its probe into “Essex Boys” traders after they agreed to pay £1 million to charity.