Public Markets 24 Hours

Last updated: June 25, 2026, 2:30 AM ET

Energy & Commodities

Oil futures retreated toward prewar levels as shipping in the Persian Gulf resumed following an interim peace deal between the U.S. and Iran. Brent crude slid below $73 a barrel, with traders also eyeing the potential impact of easing tensions on insurers who have slashed war premiums for Strait of Hormuz ships. Palm oil futures experienced their biggest drop in over a month, mirroring declines in crude and soy oil, while a strengthening Malaysian ringgit further pressured demand. In other commodity news, copper edged higher despite concerns over interest rates, buoyed by a weaker dollar and a rally in artificial intelligence stocks, with Chinese manufacturer Zhejiang Hailiang Co. betting that U.S. demand can absorb potential tariffs on refined metal.

Equities

Asian stocks tracked a rally in U.S. equity futures, with semiconductor-heavy markets leading gains after Micron Technology Inc. delivered an upbeat forecast that reignited confidence in the artificial intelligence trade and eased AI fears. SK Hynix Inc. shares surged 12% on plans for a $29 billion U.S. listing, a move analysts believe will boost valuations, while Kioxia Holdings Corp. intends to offer U.S. depositary receipts in 2027 to capitalize on investor demand for AI-related semiconductor shares and potential IPOs. Thailand's stock market has emerged as Southeast Asia's surprise AI stock winner, outperforming regional peers. However, Alibaba Group Holding Ltd. shares slid to a 16-month low after accusations of illicitly accessing an AI model. Meanwhile, Wendy's Co. soared 42% following a viral Reddit post, and Hertz Global Holdings Inc. shares tumbled after issuing a profit warning due to weakness in the used car market.

Technology & AI

The artificial intelligence boom continues to fuel significant investment and market activity. U.S. investment-grade bond sales set another June record, driven by investor demand and borrowing tied to AI spending. Qualcomm Inc. is acquiring Modular Inc. for approximately $3.9 billion in stock to bolster its AI software capabilities for data centers and its AI push. SpaceX's Starship rocket's reusability is seen as critical for orbital data centers, according to investor Andreessen Horowitz and its AI in space ambitions. Data center demand is projected to double Australia's power needs by 2050, and Canadian nuclear company Atkins Realis Group Inc. seeks U.S. approval for nuclear technology to power the AI boom and U.S. data centers. Meta is accelerating plans to replace human content moderation with AI, utilizing large language models across its platforms. Automakers are also exploring AI's potential, with Volkswagen seeking to streamline its portfolio by selling a 51% stake in its engine subsidiary Everllence to Bain Capital. Americans, however, remain gloomy about AI's impact on the labor market and social safety net compared to other nations.

Global Markets & Macroeconomics

Japan's government is facing renewed concerns over its debt market as Prime Minister Sanae Takaichi's $2.3 trillion investment plan risks further pressure on JGBs. Japan's 20-year government bond auction saw its weakest demand in over a year, signaling investor caution. The yen is at a historic low, potentially offering Japanese carmakers a $5.8 billion profit windfall this year despite government efforts to curb its slide. In Europe, record heat waves are straining power supplies and sending prices soaring, with France experiencing its hottest June day ever and Britain potentially breaking its all-time temperature record. Hospitals are canceling operations due to lack of air conditioning, and Parisians are seeking relief in industrial canals as temperatures exceed 100 degrees Fahrenheit amidst a broader heat crisis. The euro has sunk to a one-year low as falling oil prices ease pressure on the European Central Bank, with traders backing away from bets on further interest rate hikes due to a slowing economy. China is urging domestic rating firms to curb the concentration of top-tier AAA ratings in its bond market to better assess credit risks, while also beginning marketing of a record €5 billion ($5.7 in sovereign bonds in euros.

Finance & Deals

Hollywood power broker Ari Emanuel is in advanced talks to buy theatre group ATG Entertainment for £4.5 billion, signaling expansion into Broadway and the West End. U.S. law firm Quinn Emanuel has taken charge of a £36 billion BHP case from a troubled boutique, becoming the lead in the UK's largest class-action lawsuit. Blackstone Inc.'s loan on a Chicago skyscraper has defaulted, reflecting ongoing challenges in the commercial real estate market. Jamieson Wellness Inc., the Canadian supplements maker, is working with investment banks to explore a sale. In the luxury sector, LVMH is firing back at an Hermès heir over his missing fortune, stating it was unaware of any misappropriation of shares when building its position in the rival in a complex legal dispute.

Cryptocurrency & Digital Assets

Bitcoin is facing a massive options expiry that could exacerbate pressure on a market already contending with fading institutional demand and macroeconomic headwinds and its woes. The cryptocurrency has fallen below $60,000, with retail investors shifting their focus to AI-related stock bets as sentiment sours. An Iranian-linked crypto exchange has facilitated over $3.84 billion in transactions, serving as a hub for illicit Iranian cash according to blockchain data analysis. Mongolia's Brera Ilch FC, which struggled with a pivot to cryptocurrency, is facing the "cruelties of crypto," with Ark Invest and a UAE fund standing to lose as shares in Brera Holdings tumble following a disastrous investment.

Other Markets

Australia's housing downturn has wiped A$185 billion ($128 billion) off the value of the nation's top two markets this quarter, a factor likely to affect consumer wealth. Cal-Maine Foods Inc. and other egg suppliers are reportedly close to resolving a U.S. Justice Department probe into alleged illegal price coordination with state authorities. In the U.K., the FTSE 100 is set to fall as Brent crude slides, while U.K. bank stocks are poised to extend their rally against European peers benefiting from strong profitability.