Public Markets 24 Hours

Last updated: June 29, 2026, 11:30 AM ET

Markets Overview

Global markets showed a mixed picture as investors grappled with geopolitical tensions, economic uncertainty, and the burgeoning influence of artificial intelligence. U.S. stock futures edged higher as a tentative peace emerged between the U.S. and Iran, following a weekend of eased hostilities that had previously rattled energy markets. In Asia, Japan's yen slid to a four-decade low against the dollar, sparking concerns about market intervention and broader economic stability. Mexico's main stock exchange, BMV Group, halted trading ahead of its Monday session, adding to regional uncertainty.

Geopolitics & Commodities

The easing of direct hostilities between the U.S. and Iran brought some relief to oil markets, with prices inching up on expectations of a potential halt to attacks in the Persian Gulf. Iraqi oil, previously trapped by the conflict, has escaped the Persian Gulf over the past ten days as transit through the Strait of Hormuz improved amid an uneasy ceasefire. However, fresh attacks on ships later in the week pushed traffic down and re-introduced volatility, prompting Pakistan to urgently seek liquefied natural gas as supply routes were disrupted. Corn futures also slipped as the U.S.-Iran tensions eased, though traders remained watchful of hot weather impacting U.S. crops. Gold prices declined amid souring risk sentiment towards AI assets and renewed inflation concerns stemming from U.S.-Iran tensions.

Central Banks & Monetary Policy

Federal Reserve Chairman Kevin Warsh's determination to bring inflation back to the 2% target is likely to create a drag on risk assets, with investors potentially underestimating his resolve. The Supreme Court's decision to allow Fed Governor Lisa Cook to remain in her position reinforces the central bank's independence from the White House. Meanwhile, the European Central Bank's Governing Council member Martins Kazaks suggested that multiple rapid rate hikes are unnecessary. Spain, however, is set to phase out an electricity generation tax and has revised its economic growth forecast upward for 2026, anticipating only a limited impact from the Iran conflict. Spanish inflation, however, unexpectedly remained above the ECB's target.

Corporate & Dealmaking Activity

Comcast's plan to spin off NBCUniversal and Sky sent its shares soaring 22% to 25%, separating its connectivity business from its media and entertainment operations. This move follows a trend in the media industry and could spur significant deal-making. In the technology sector, South Korean chipmakers Samsung and SK Hynix announced plans to invest $520 billion to $590 billion in new chip plants to meet surging global demand, a move underscored by the government's commitment to AI development. SpaceX pushed U.S. share sales to a record $251 billion at midyear, with bankers anticipating further deal activity. Rocket Lab is looking to challenge SpaceX by acquiring satellite operator Iridium.

British American Tobacco is undertaking a significant restructuring, planning to cut roughly 9,000 jobs by year-end, equating to about one-fifth of its global workforce. Strategy Inc., Michael Saylor's crypto-focused company, unveiled a plan that includes selling up to $1.25 billion of Bitcoin and potentially buying back stock to restore investor confidence.

In the European tech scene, startups are once again looking to U.S. SPACs, with companies like Newcleo Ltd., developing novel nuclear reactors, seeking to disrupt clean energy. European private equity firm Bridgepoint Group Plc is set to acquire U.S.-based Kayne Anderson Real Estate for $1.4 billion, marking its first foray into the American property market. CVC Capital Partners is acquiring the ingredients business Irca Advent.

Artificial Intelligence & Economic Impact

The massive investment in artificial intelligence is creating a potential economic dilemma, with some suggesting austerity for the non-AI economy. Scholars warn that "AI employees" could disrupt work in unforeseen ways, potentially undermining the technology's advertised benefits. The AI boom is also fueling a record $200 billion M&A surge in the U.S. power sector as companies build energy infrastructure for data centers. However, Microsoft Corp. shares are heading for their worst month since the dot-com