Public Markets 24 Hours

Last updated: July 4, 2026, 8:30 AM ET

Public Markets Briefing

Energy & Commodities

Oil futures saw volatility as Middle Eastern producers, described as "desperate to sell oil stocks" Total CEO Sees Mideast, navigated complex shipping routes. At least eight tankers U-turned in Hormuz between Friday and Saturday, with some rerouting to take Iranian passages, complicating the reopening of the Strait. Meanwhile, OPEC's crude oil production surged in June as Persian Gulf members restored exports through the Strait of Hormuz, supported by a peace accord between the US and Iran. However, gasoline and diesel inventories remained constrained due to shipping worries. Ukrainian forces launched a drone attack on an oil terminal in St. Petersburg overnight Russia’s St. Petersburg Comes. Citi forecasts Brent crude could fall to $60 a barrel by Christmas, predicting a return to surplus in the oil market Brent could fall. India, led by Prime Minister Narendra Modi, plans to continue expanding its crude oil refining capacity to ensure supply chain security, even as Western nations shut processing units Modi Says India Will.

Global Equities & Investment

Clean power purchase agreements, a favored tool for companies like Google and Meta, are projected to soar sharply as U.S. subsidy cuts coincide with surging demand from artificial intelligence infrastructure. This surge is partly driven by the AI boom’s focus on companies like Meta, Anthropic, and Nvidia, recently dubbed the "MANGOS" stocks ‘MANGOS’ Stocks Already Turning. Canada Pension Plan Investment Board is committing $1.75 billion to support EQT AB's artificial intelligence infrastructure buildout CPP Invests $1.75 Billion. In the U.S., small-cap stocks are experiencing their most significant rally in decades, with the Russell 2000 climbing approximately 22% in the first six months of the year Having Their Biggest Run. Conversely, the tech bubble is showing signs of deflating, prompting a return to traditional valuation rules, with SpaceX potentially marking a turning point in market sentiment tech bubble deflates, turn.

Central Banks & Monetary Policy

The European Central Bank is in a "good position" following its recent interest rate hike and easing inflation data, partly due to a slump in oil prices, according to Governing Council member Emmanuel Moulin ‘Good Position’ Given Inflation. ECB President Christine Lagarde will attend the upcoming Ecofin meeting in Brussels, while Governing Council member Joachim Nagel stressed the need for vigilance at the next rate decision, keeping options open regarding inflation risks ECB’s Lagarde Will Attend; ECB’s Nagel Stresses Need. French economists, however, suggest the Federal Reserve will still need to raise interest rates this year despite recent labor market weakness Fed and ECB Seen. Meanwhile, the U.S. dollar remained weak against a basket of currencies, continuing to be weighed down by worse-than-expected nonfarm payrolls data released previously Weak Jobs Data Continue.

Corporate & Deal News

Credit Agricole has increased its stake in BPM, strengthening its position in Italy Credit Agricole Increases BPM. In the asset management sector, a founder alleges he was fired for ignoring return-to-office policies, which he claims was a pretext by co-owners to push him out of the firm he helped establish Founder Who Got Fired. Top investors are opposing a £5.7 billion private equity bid for energy group DCC, with firms like Ninety One, Aviva Investors, and Fidelity International withholding support for the offer from KKR and Bridgepoint Top investors oppose £5.7bn. UBS is making progress in its U.S. wealth business, aiming for an 18% pre-tax profit margin by 2028 UBS makes progress.

Geopolitics & International Relations

Iran projects an image of unity externally while continuing a domestic crackdown, with thousands of arrests of dissidents reported since February Iran Projects Unity. Divisions among Iran's leaders have become apparent following the funeral procession for Ayatollah Ali Khamenei, raising questions about the country's leadership Funeral Masks Deep Divisions; Allies Gather in Iran. U.S. officials reportedly believed Israel was plotting to assassinate Iranian negotiators, fearing such an attempt would derail peace talks U.S. Officials Believed Israel. Ukraine's President Volodymyr Zelenskyy denied Russian President Vladimir Putin's claim of securing a stronghold in Donetsk, stating the region remains heavily contested Zelenskyy Denies Putin Claim. Putin visited battlefield areas and vowed to capture more Ukrainian territory, denouncing Ukraine's recent military efforts as "imaginary achievements" Putin Visits Battlefield. Crimea has become increasingly crucial in the Ukraine war, with escalating drone strikes, fuel shortages, and power cuts intensifying pressure on President Putin Four Reasons Crimea. In Sino-Australian relations, China has warned of a "Cold War mentality" as it pushes back against Australia's stance Australia Tried to Push. China's coast guard is rotating its patrol task group east of Taiwan, continuing law-enforcement operations in the waters China Coast Guard Rotates.

Domestic U.S. & Economic Trends

An extreme heat wave that had gripped the eastern U.S. and strained power grids from Maine to the Carolinas has begun to recede, though it has increased the risk of storms Eastern US Heat Wave. The oppressive heat led to widespread power outages for over 800,000 households in the eastern U.S. and prompted cancellations of holiday celebrations ‘Heat dome’ over eastern; Storms Cause Power Outages. Calls to emergency medical services in Washington D.C. climbed as temperatures neared 100 degrees Fahrenheit during the nation's 250th anniversary celebrations Heat Suffocates Washington DC. The nation's 250th anniversary celebrations were impacted by the heat, with parades canceled and events like the Great American State Fair on the National Mall closing for periods Heat Is Upending Plans. Despite the heat and divisions, Americans found various ways to celebrate the nation's 250th anniversary, from large city events to backyard barbecues Day of Grand 250th; Celebrating America’s 250th Anniversary.

President Trump's administration has faced scrutiny over his personal financial gains, with a mandatory disclosure revealing he earned $2.2 billion during his first year back in the White House MAGA Base Stays Quiet. Trump also took stock of past presidencies, comparing himself to predecessors and distancing from their perceived failures Other Presidencies, Shedding Light. He used his clemency power to pardon individuals violating the Clean Air Act and a major donor with ties to Jack Abramoff Trump Pardons Violators. Trump is expected to oppose heavy U.S. regulation on artificial intelligence, according to an outgoing tech adviser who stated the president is against a centralized regulator amidst growing AI backlash Trump will oppose heavy. The president also interceded to prevent Robert Smullen from running on the Conservative Party line in a New York House race Push Robert Smullen Out. Separately, the Social Security Administration will introduce a process to enroll newborns in Trump accounts at hospitals simultaneously with their Social Security number registration Parents Will Be Able. The Trump administration has also reportedly placed less emphasis on the preservation of the Declaration of Independence Celebration, a Faded Declaration.

The cryptocurrency market saw significant losses for retail investors, with nearly a million individuals losing a total of $3.8 billion on a Trump-associated memecoin Nearly a Million Investors. In other financial news, Danish officials pressured organizers to exclude American officials from their Fourth of July celebrations, reportedly due to anger over President Trump's actions regarding Greenland Big Fourth of July. The deployment of National Guard troops in Washington D.C. ahead of the holiday expanded to nearly 5,000, with many troops engaged in tasks such as cleaning graffiti and picking up trash Trump’s National Guard Deployment.

Technology & Innovation

The quest to make humanoid robots safe enough for human interaction is facing challenges, with viral mishaps underscoring the difficulty for robot makers to ensure safety Make Humanoid Robots Safe. Artificial intelligence tools are becoming a shortcut for voters seeking information on who to vote for, though these tools carry inherent risks ‘Who Should I Vote. Meanwhile, wealth managers are accused of using "deliberate obfuscation" regarding fees, drawing criticism from an industry chief as regulators urge the use of "plain English" Wealth managers use ‘deliberate.