Public Markets 24 Hours

Last updated: July 3, 2026, 5:30 AM ET

Global Markets & Economic Activity

Global stocks rose broadly and the dollar weakened as sentiment continued to favor riskier assets following cooler-than-expected U.S. jobs data. European bourses opened higher, buoyed by gains in technology and industrials, while South Korean equities surged 5% after a turbulent week, underscoring investor skittishness around the artificial intelligence boom. China’s services sector eased less than forecast in June, suggesting a pickup in economic momentum, and business activity in the euro area was revised up stagnation for the month. Japan's annual wage negotiations concluded with average pay gains exceeding 5% for a third consecutive year topping 5%, reinforcing the Bank of Japan's stance on interest rates and contributing to a strengthening yen.

Energy & Commodities

Oil prices remained stable as ample near-term supply was indicated by contango in prompt futures. French oil major Total Energies SE is offering millions of barrels of Iraqi crude for prompt delivery to Asia, adding to already swelling market supply. Citigroup forecasts Brent crude could fall to $60 a barrel by year-end as disruptions in the Strait of Hormuz ease fade away, a view echoed by analysts who see reasons for both the U.S. and Iran to maintain a ceasefire hold. Tanker traffic through the Strait of Hormuz has increased significantly, with Qatar resuming liquefied natural gas tanker passages and more ships cautiously returning, though stranded sailors remain behind. Japan, meanwhile, sharply reduced its reliance on natural gas-fired power generation last month, opting for more coal as Strait of Hormuz disruptions tightened cleaner fuel supplies. Gold advanced for a third day, inching toward $4,200, as weak U.S. jobs data reduced rate-hike odds, with traders paying up to hedge against sharp yen moves ahead of thin U.S. holiday trading intervention risk.

U.S. Economy & Labor Market

The U.S. labor market showed slower but steady gains in June, with employers adding fewer jobs than a month earlier and the unemployment rate ticking down to 4.2% steady earnings. This cooling hiring trend has prompted Wall Street to adjust strategies and challenged expectations for Federal Reserve rate hikes this year, leading to a rally in Treasuries Fed hike outlook. Industrial metals, including copper, climbed supported by a weaker dollar and fading rate-hike prospects. The Dow Jones Industrial Average rose on the data, though the Nasdaq and S&P 500 dipped amid tech sector weakness.

Corporate & Financial News

Taiwan's largest brokerage, Yuanta Securities Co., is seeking up to NT$42 billion ($1.3 through two syndicated loans seeking loans. Pluxee shares gained ground after its third-quarter revenue drop of 3.3% was smaller than the expected 4.3%. Neobank Starling Bank plans to cut jobs and restructure operations to simplify its business as profits dip cut jobs. In India, an objection has been raised by a state government regarding Mediterranean Shipping Co.'s planned $1.4 billion investment in an Adani Group-run terminal, intensifying scrutiny following a chemical spill last year state objects. ICICI Bank is in talks to raise at least $500 million in offshore bonds, its first benchmark dollar bond sale since 2017 mulls bond sale. Standard Chartered is targeting mid-sized African companies for debt sales, following a successful $50 million green bond placement targets debt sales.

Technology & AI

The artificial intelligence trade continues to influence markets, with South Korean stocks rebounding after a significant drop stocks jump. However, concerns are growing over whether the substantial investments in AI will yield returns, as prices commanded for each unit of usage are drifting AI trade signal. Next-generation AI factories are prompting power equipment firms to reassess portfolios in a market expected to exceed $200 billion annually AI factories create. Anthropic is moving to block Chinese access to its Claude AI model, though engineers continue to find ways to use the models despite restrictions clamps down. Chip stocks tumbled again after a period of strong performance.

Private Markets & Deals

Investors are seeking to withdraw nearly $16 billion from private credit funds, with some fund managers rationing withdrawals amid fears of a prolonged redemption cycle pulling funds. Blue Owl reported continued significant investor withdrawal requests from its flagship funds, though the total amount requested declined from the previous quarter withdraw $4.7B. Private equity firm MBK Partners faces a sanctions process in South Korea related to its distressed retailer Homeplus Co. faces sanctions. Chanel has agreed to purchase Charvet, the historic French shirtmaker known for its high-end shirts, marking a move into luxury apparel buys shirtmaker.

Food & Retail

Global food prices edged lower in June as a U.S.-Iran ceasefire reduced concerns of supply chain disruptions food prices ease. Aldi opened its first store in Midtown Manhattan, part of its strategy to lower grocery costs. Private equity firm Apollo is struggling to sell a Hispanic grocer after U.S. immigration raids impacted sales grocery aisle mess. Jersey Mike’s, the sandwich chain, has filed for an IPO, with private equity group Blackstone eyeing a valuation of up to $12 billion files for IPO. Egg producers have agreed to pay $3.3 million to settle a federal price-fixing lawsuit and donate over 53 million eggs to food banks egg producers settle.

Infrastructure & Energy Projects

Canada and Alberta have agreed to back a new crude pipeline to the Pacific Coast new pipeline, a move intended to position Canada as an energy-exporting superpower and reduce over-reliance on the U.S. amid trade tensions break dependence. The government of British Columbia will maintain an oil tanker ban for the north coast, committing federal funding to energy and mining projects tanker ban.

Other Notable Developments

Japan might refrain from intervening in currency markets to support the yen, despite the dollar weakening against the currency refrain interventions. Convertibles bonds issued by Japanese companies have regained favor, with sales in the first half of the year reaching their highest in over two decades convertible bonds regain. Brown University’s credit rating outlook was lowered to negative by Moody’s due to expense pressures rating outlook lowered. The National Highway Traffic Safety Administration closed its probe into Tesla's phantom braking issues after complaints dropped sharply, finding no crashes tied to the problem closes probe.