Public Markets 24 Hours

Last updated: June 27, 2026, 8:30 AM ET

Global Markets & Economy

U.S. stocks ended a volatile week lower as concerns over AI valuations and geopolitical tensions overshadowed relief from falling fuel prices. The S&P 500 and Nasdaq Composite both declined, capping a challenging trading period where AI-themed stocks experienced a sharp sell-off, exposing the machinery of modern speculation and its rapid reversals. Meanwhile, the WSJ Dollar Index edged lower for a second day, but remained elevated for the week. In Europe, the euro zone is forecast to see its first inflation slowdown since the Iran war began, driven by subsiding energy costs. Consumer sentiment in the U.S. showed a rise in June, buoyed by lower gasoline prices, though it remains near record lows.

Geopolitics & Energy

Renewed strikes in the Persian Gulf threaten to disrupt shipping recovery, with traffic through the Strait of Hormuz reaching post-war highs before attacks intensified. Saudi Arabia is ramping up oil exports as Gulf ports restart operations, while tanker earnings have plunged as vessels resume transit through the Strait. The U.S. launched strikes against Iran following an attack on a ship in the Strait of Hormuz in a significant escalation. The Baltic states are urging the EU to accelerate a ban on Russian oil imports, though talks have stalled amid concerns over energy supply crises. In a separate development, U.S. forces attacked Iran, with a former Trump adviser pleading guilty.

Technology & AI

Chipmakers globally are facing elevated valuations in AI-exposed markets, with investor enthusiasm showing subtle signs of rebalancing after a wild week. OpenAI is considering an initial public offering as soon as 2027, potentially after Anthropic's public debut following regulatory easing. Shares of Morgan Stanley and Goldman Sachs fell on reports that OpenAI might delay its IPO until next year due to tech stock volatility. SpaceX's stock has begun to lose momentum after its market debut, with investors betting against the company soon facing billions in index-driven capital. The U.S. is investigating Polymarket, a predictions market, with lawmakers calling for a probe into its promotion of fake bets. In a move to support the AI boom, KKR & Co. agreed to buy Electricite de France SA's renewable power businesses in the U.S. and Canada.

Corporate Deals & Restructuring

Diagnostic company QuidelOrtho is looking to sell its testing unit as private equity firms circle healthcare companies, with its shares down 90% since its COVID-19 tests were first approved. Saks Global has emerged from bankruptcy as Exemplar Luxury Group, focusing on its high-end department store brands. Biolife Solutions has attracted takeover interest from parties including Repligen Corp. In the aviation sector, EasyJet's top shareholders are holding out for a £5.3 billion bid from Castlelake. Magnolia Oil & Gas is in the lead to acquire Wild Fire Energy for over $4 billion, marking its largest acquisition. The private equity owners of Troon Golf are exploring a potential sale of the company. Canadian product testing firm CSA Group is exploring a sale that could value the business around C$2 billion.

Infrastructure & Utilities

A severe heat wave has exposed weaknesses in Europe's infrastructure, much of which was built for a cooler climate. In the U.S., the CEO of Exelon has warned that the nation faces blackouts due to power supply shortfalls, necessitating electricity bill increases to fund infrastructure for the AI boom. Chicago is selling its parking meters for $2.5 billion to Stonepeak Partners. China Three Gorges Corp. is reportedly in talks to buy a German wind portfolio.

Emerging Markets & Development

Venezuela is grappling with the aftermath of powerful earthquakes that left over 900 people dead and strained its already crisis-hit health system. Aid groups have flocked to Venezuela with rescue teams and medical supplies, as displaced residents sleep in the streets amidst rubble and infrastructure collapse. The U.S. has committed aid, expanding commercial interests beyond oil, testing growing ties. Bolivia is moving to a flexible exchange-rate system after 15 years to bolster macroeconomic stability. The Philippines plans to increase its budget by 6% next year, reaching 7.2 trillion pesos ($117 . Bangladesh will receive over $1 billion in World Bank loans for fertilizer and food security amid global market volatility.

Automotive & Transportation

Nissan Americas' chief aims to make the automaker "edgy" again with a focus on hybrid vehicles, U.S. manufacturing, and a revamped Infiniti brand. Volkswagen's mass layoffs are seen as a call to action for the EU to impose restrictions on Chinese automakers. Mercedes-Benz and Singapore's GIC will back Chinese autonomous driving firm Momenta's IPO as cornerstone investors. Uber has enacted stricter background checks for drivers following reports of the ride-hailing giant approving drivers with criminal convictions including violent felonies. U.S. rail freight traffic and Zeekr's performance are among the insights in the latest auto and transport market talk roundup.

Luxury Goods & Retail

Perfume is performing well within the beauty industry, though investing in the sector is complex. Indian snack giant Haldiram's is expanding into Europe, opening its first UK restaurant in London's Leicester Square to tap global demand. Struggling luxury department store Harvey Nichols is reportedly in active talks for a sale. Walmart's advertising deal aims to monetize its extensive consumer data and insights by placing customers in the shopping basket.

Financial Services & Regulation

The Commodity Futures Trading Commission (CFTC) is conducting a broad probe into the predictions market Polymarket, amid calls from states and consumer advocates for more oversight of the venue. South Korean regulators are lamenting leveraged ETFs due to frenzied trading. The U.S. is investigating Polymarket, testing the efficacy of a key regulator, after the CFTC previously overruled enforcement attorneys on a separate inquiry into the Trump-tied company serving U.S. customers. The U.S. Federal Communications Commission's first spectrum auction in four years brought in over $3.5 billion, with Verizon and T-Mobile emerging as major winners. Activist investors may face stricter rules in the UK following proposals by the watchdog.

Other Notable Developments

The World Cup's marketing success for sponsors like Levi's and Gillette, who were forced into hiding, is being examined. The cost of running Wimbledon has risen significantly, leading to player demands for a greater share of revenues in a financial struggle. The U.S. plans to implement new tariffs on European countries over digital services taxes, a move President Trump claims would supersede existing trade deals he finalized days ago. The U.S. Justice Department's inquiry into Yale's race-conscious admissions practices is seeing the university seek a deal with the government after hiring a law firm. U.S. natural gas futures extended gains amid forecasts of hot weather.