Public Markets 24 Hours

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

Public Markets Roundup

Markets Rally on Strong Quarterly Performance, AI Optimism

U.S. stocks closed their best quarter in six years on Tuesday, with the S&P 500 and Nasdaq Composite rising 15% and 21% respectively in the second quarter. The rally was fueled by a revival in AI-related stocks and signs of U.S. economic resilience, pushing the Dow industrials to a record high. Asian equities were poised for a similar upward trajectory, capping their best quarter in nearly 17 years, buoyed by chipmaker gains and corporate earnings optimism. European stocks also concluded their best quarter since late 2020, reaching a record high driven by AI sector momentum. Retail investors, however, have shown a subdued interest in the tech megacaps they once favored, with activity in the "Magnificent Seven" stocks hitting a four-year low. Despite this, mom-and-pop investors have been bargain hunting at a record pace this year, according to Citadel Securities.

Trump's Financial Disclosures Reveal Crypto Windfall and Gifts

President Donald Trump's mandatory financial disclosure for 2025 revealed a substantial windfall, with his crypto businesses generating at least $2.2 billion in revenue. Further details indicate that Trump earned over $1 billion from crypto deals alone, alongside significant sums from licensing agreements and legal settlements. Specific figures show over $500 million from the sale of family crypto tokens last year, and hundreds of thousands from licensing Bibles, watches, and perfume while in office. Separately, disclosures also showed Trump received dozens of tickets to major sporting events, including the World Cup and Super Bowl, from team owners and allies.

Energy Markets Stabilize Amidst Geopolitical Tensions and Supply Recovery

Oil futures showed signs of a technical recovery, rising in early Asian trade after posting their sharpest quarterly drop since 2020. The market steadied as traders monitored peace talks between the U.S. and Iran and the return of shipping through the Strait of Hormuz, which had been choked by recent hostilities. Traffic through the strait increased as more operators resumed sending crude tankers into the Persian Gulf. Despite this stabilization, aluminum was on track for its worst monthly loss since 2008 as expectations of supply returning from the Middle East unwound earlier war-driven gains. India plans to reduce its reliance on Middle East oil following supply shocks, exploring alternative sources. French inflation eased to its lowest level since March as oil prices dropped, offering some relief to the European Central Bank.

IPO Market Sees Activity Amidst Corporate Restructuring and Asset Sales

Digital infrastructure services firm ITG Inc., backed by Oaktree Capital, raised $312.2 million in a U.S. initial public offering, pricing shares below its initial marketed range. In other market activity, Alcoa Corp. agreed to acquire South32 Ltd.'s bauxite, alumina, and aluminum assets in Australia, Brazil, and South Africa for as much as $5.6 billion, bolstering its position in the aluminum sector amidst rising prices, 27. KKR is set to acquire EDF Power Solutions' North American renewable energy business for $4.2 billion. Meanwhile, satellite TV provider Dish DBS filed for bankruptcy to restructure its debt load, following a snag in a $20 billion spectrum deal with AT&T 23. Regulatory Scrutiny and Legal Challenges Shape Corporate Deal-Making

Getty Images plans to terminate its merger agreement with Shutterstock after a U.K. regulator imposed conditions requiring Shutterstock to sell its editorial business for the merger to proceed. Consequently, Shutterstock shares plunged approximately 30% in after-hours trading. In the technology sector, Apple's Tim Cook held "constructive" talks with an EU tech chief regarding its "Siri AI" assistant, as the company seeks to avoid potential fines over the new AI assistant. The U.S. Securities and Exchange Commission is considering new ETF rules, prompted by a wave of filings for prediction-market ETFs that have drawn scrutiny.

Political Landscape Influenced by Supreme Court Rulings and Campaign Activities

The Supreme Court delivered a significant ruling by blocking the Trump administration's attempt to end birthright citizenship, a key part of its immigration agenda, 90. The court also lifted spending limits on political parties and candidates, a decision that Republicans had sought to remove, potentially increasing the influence of big money in politics. Representative Thomas Kean Jr. announced he had been hospitalized for depression, returning to Congress after a nearly four-month absence, though questions remain about his explanations. President Trump announced plans for a Republican midterm convention in Dallas, Texas, a move outside the typical presidential election cycle to mobilize party supporters.

Corporate Earnings and Consumer Trends Show Mixed Signals

Nike Inc. reported revenue of $11 billion in its most recent quarter, the lowest since February 2022, with executives citing cautious demand despite results that outpaced expectations. Constellation Brands also reported lower first-quarter revenue, attributing the decline to softening consumer trends and higher gas prices exacerbated by geopolitical events. Beef prices remain at record highs, expected to continue impacting consumers this summer due to drought conditions and an invasive pest affecting cattle herds. Philip Morris International received a boost as the FDA stated its Zyn nicotine pouches can be marketed as less harmful than cigarettes. International Markets Navigate Currency Fluctuations and Debt Concerns

The Japanese yen fell to a 40-year low against the dollar, a move that benefits tourists but raises concerns in Tokyo, with traders on alert for potential government intervention, 126. Japan's two-year government bond auction saw stronger demand, reflecting caution over the Bank of Japan's policy direction. Meiji Yasuda Life Insurance plans to double its super-long Japanese government bond buying to over ¥2 trillion ($12 in the fiscal year ending March 2027. In Colombia, interest rates were raised to 12% after a court decision eased fears over central bank independence and allowed monetary tightening to resume. Ethiopia's bondholders criticized the IMF's handling of the nation's debt restructuring process, labeling the discussions as "poorly" managed over the past two years.

Other Notable Developments

Private equity firms sold the "Care Bears" toy brand to Authentic Brands Group, leveraging licensing and royalty agreements. The U.S. Treasury sanctioned two Mexican citizens and nine companies linked to a cartel-affiliated fuel-smuggling scheme. NASA is considering sending a spare test version of a Mars rover and a soccer ball to the moon as part of lunar base development plans. The U.S. added approximately 1,200 new millionaires daily last year, driven significantly by soaring financial markets.