Public Markets 24 Hours

Last updated: July 2, 2026, 2:30 AM ET

Public Markets Roundup

Asia Pacific Markets

Deals in the Asia Pacific region have surpassed $750 billion year-to-date, defying global disruptions. This robust activity includes a significant IPO where China Resources New Energy raised $3.6 billion, marking Asia’s largest public offering this year, fueled by strong retail investor demand. In Japan, however, overseas investors offloaded the most bonds in three years during June, as lackluster performance left the debt trailing global peers. The yen edged higher against the dollar amid speculation of further Japanese intervention to support the currency, though traders remain on alert for potential actions. South Korean stocks slumped due to AI jitters, particularly chipmakers, as Meta Platforms' plans to sell computing power raised concerns about excess AI capacity.

European Markets & Deals

The FTSE 100 index faced a second day of declines, as broader market sentiment wavered. In luxury goods, Chanel is acquiring Charvet, the historic Parisian shirtmaker, to bolster its men's wear offerings. The deal follows a prior collaboration between Chanel's creative director and the revered brand. Meanwhile, the European Central Bank's Governing Council member Ulo Kaasik indicated that another rate hike, suggesting further monetary tightening might be necessary to combat inflation post-Iran war. Joachim Nagel, another ECB Governing Council member, stated he is keeping options open for the next two interest-rate meetings, reflecting ongoing uncertainty. The EU is also weighing weaker data center climate rules following extensive lobbying from Big Tech, a move that could relax previous proposals for strict renewable energy certificate regulations.

North American Markets & Deals

US stocks ended modestly lower as traders assessed manufacturing data and commentary from Federal Reserve Chairman Kevin Warsh, who dodged questions on rates. Gold extended its gains after Warsh's remarks eased rate-hike prospects, and the yellow metal also benefited from central banker commentary and economic data, rising in early Asian trade. The US Treasury market saw yields climb ahead of the jobs report, as investors digested economic indicators and Fed remarks. In the corporate world, Bending Spoons SpA shares surged 40% above their IPO price, raising $1.68 billion in its market debut, following a strong first half for IPOs. Cboe Global Markets is seeking regulatory approval to list options on earnings metrics, including those for SpaceX and Nvidia.

Mergers & Acquisitions

Global M&A volume has reached a record $2.8 trillion, driven by major takeovers as companies and investors adapt to economic shifts spurred by AI. CMA CGM, the world's third-largest container line, is acquiring FedEx Supply Chain for $1.4 billion to expand its U.S. logistics business. Paramount and Skydance have offered concessions to facilitate EU approval of their $81 billion Warner Bros. deal, aiming to ease competition concerns. In the private market, Hamilton Lane is targeting for its first yuan-denominated fund focused on discounted Chinese assets. Meanwhile, KKR-backed South Korean fashion retailer Musinsa is planning a physical store push in China and Japan ahead of an IPO.

Commodities & Energy

Oil futures extended their decline as ships navigated the Strait of Hormuz and indirect U.S.-Iran talks progressed. Brent crude fell to its lowest levels as U.S. oil grades shed their war premium, with flows through the Strait of Hormuz climbing. OCBC has cut its oil forecasts, now expecting Brent at $75 per barrel for both 3Q and 4Q 2026. Palm oil edged lower due to declining crude prices and an outlook for strong production from Malaysia. Iron ore futures briefly topped $100 a ton amid signals that China’s state-backed buyer may restrict some Fortescue Ltd. inventories. Arabica coffee futures climbed for a third straight day as funds adopted a bullish stance, driven by production uncertainties in Brazil.

Technology & AI

The rapid growth of AI has created "crazy demand" for battery start-ups to manage power surges in data centers. White House plans for AI model standards are accelerating, with guidance expected soon, following government interventions in Anthropic and OpenAI rollouts. German software giant SAP is attempting to embrace AI without layoffs, betting on employee reinvention, though experts remain divided on its success. OpenAI has proposed handing the Trump administration as part of early talks for a public ownership deal amid rising political pressure. Google has been ordered to pay Klarna $2 billion in antitrust damages by a Swedish court for favoring its own price-comparison tool. South Korean chip stocks tumbled following a US tech selloff, as Meta's AI computing power plans raised questions about market capacity.

Financial Services & Regulation

The Bank of England intends to limit hedge fund leverage, a move aimed at enhancing gilt market resilience but criticized for potentially increasing funding costs. UBS is piloting US banking services for wealthy American clients, planning to open staff accounts by December to test pricing and products. The SEC is investigating alleged insider trades that cost Susquehanna International Group $100 million in options bets prior to a Chinese regulatory crackdown. Binance has cut off European users after regulators raised financial crime concerns, with the EU’s markets regulator advising against its operating license. BlackRock’s head of its private credit fund is exiting the firm following months of losses and a regulatory probe.

Economic Indicators & Outlook

US crude oil inventories extended their decline, falling by 3.8 million barrels to 408.4 million barrels. New Zealand house prices fell for the third straight month in June, nearing a three-year low amid Iran war worries and their impact on household incomes. Pakistan's inflation cooled last month but remained in double digits, keeping central bank policymakers cautious. Emerging market currencies erased year-to-date gains as the dollar advanced, fueled by speculation of higher US interest rates. The Democratic Republic of Congo is planning its first stock exchange to attract investment to an economy benefiting from soaring mineral demand.

Other Notable Developments

The U.S. Bureau of Prisons will close facilities housing thousands due to crumbling infrastructure, staffing shortages, and budget shortfalls. In a move that could signal shifts in physical media, Sony is dumping PlayStation discs, marking the first such decision by a major console maker. The Trump administration’s efforts to pressure Baghdad led to a monthslong suspension of dollar transfers to Iraq, which have now resumed. The world’s oldest shirt maker, Charvet, is being acquired by Chanel, adding men’s wear expertise to the luxury group's portfolio. U.S. egg producers are facing scrutiny over allegations they colluded to keep prices high while blaming bird flu.