Public Markets 24 Hours

Last updated: July 6, 2026, 8:30 AM ET

Public Markets Briefing

Technology & Equities

U.S. stock futures signaled a bounce ahead of a busy week for tech, with Nasdaq showing gains as traders looked past recent artificial intelligence-driven volatility. Morgan Stanley strategists anticipate a rotation from chip stocks into hyperscalers, suggesting that major U.S. stock indexes may struggle to reach new highs. The AI rally faces renewed scrutiny, with a report detailing potential delays in Nvidia's AI server rack systems by over a year due to manufacturing issues, causing Asian tech stocks to slide. Investors are increasingly eyeing old-economy stocks as doubts grow about the sustainability of the AI boom, according to a Markets Pulse survey. Meanwhile, SpaceX set join Nasdaq-100 index, though at a relatively low weighting, as speculation about a potential merger with Tesla continues. Besi shares tumbled 6.7% amid concerns that the adoption of its new chip-stacking technology might be delayed, though the stock remains up over 90% year-to-date. Csquare Inc., a data center firm backed by Brookfield, is seeking to raise up to $1.35 billion in a U.S. IPO.

Media & Entertainment

Comcast's Sky is expanding its media footprint with an agreement to purchase ITV's media and entertainment business for up to $2.14 billion. This acquisition, which would see ITV Studios spun off as a separate entity, combines two significant British media outlets and aims to bolster Sky's competitive position against streaming giants. The deal values the British broadcaster at £1.6 billion and will give Comcast control over a group reaching 21 million British households. In other media news, the creator of nicotine pouches, Zyn, is experiencing a surge in popularity, prompting tobacco companies to invest in new plants and expansions to meet demand, despite expert warnings about the products' addictive nature.

Energy & Commodities

Oil prices retreated from recent losses as OPEC+ agreed to another production hike, although the market is questioning the necessity of these additional barrels given a potential surplus. The recovery in shipping flows through the Strait of Hormuz also contributed to the price decline. European natural gas prices slipped 1.3%, but remained up over 5% for the week, with LNG flow recovery and Asian demand risks persisting. Italy's Eni is making a strategic investment, committing $225 million to acquire a stake in U.S. startup Energy X's Chilean lithium project, securing rights to a quarter of future production from the Black Giant project. Pakistan has increased its LNG purchases as flows through the Strait of Hormuz have yet to fully recover. Australia's liquefied natural gas exporters are facing a backlash despite a significant sales windfall from Middle East tensions, with domestic concerns rising over the industry's impact. Aluminum prices gained from near a four-month low, defying a warning from Goldman Sachs about a faster-than-expected supply rebound from Middle Eastern smelters.

Defense & Aerospace

Ondas Inc. has agreed to acquire autonomous aircraft maker DZYNE Technologies for $875.8 million in a cash-and-stock deal, positioning Ondas as a comprehensive autonomous defense technology platform. France's Thales is set to acquire a stake in maritime drone maker Exail, valuing the company at $4.46 billion including debt, through an agreement with the Gorge family for their 35.51% stake. In military drone production, a Japanese defense executive warned that converting car plants to manufacture drones risks being an "enormous waste" of taxpayer money. Ukraine has demonstrated innovative air defense tactics using Patriot systems, but a shortage of interceptors continues to be a critical issue against Russian attacks. Russia launched ballistic missiles into Kyiv on the eve of a NATO summit, killing at least 12 people.

Financial Services & Markets

The U.S. dollar rose against a basket of currencies, with Societe Generale predicting its strength will persist into the second half of 2026 due to a strong growth outlook. The yen's weakness is expected to continue, with Goldman Sachs forecasting it to reach 165 per dollar within a year, influenced by interest rate differentials with the U.S. . Options markets are signaling a bearish outlook on the yen, as interest-rate differentials favor the dollar and Japanese authorities have refrained from intervention. In European markets, CVC Capital Partners has raised approximately €3 billion ($3.4 for a new mid-market buyout fund, expanding its private equity reach into smaller deals. Swedish debt collector Intrum AB has returned to Europe's high-yield bond market after an equity raise and restructuring. Citigroup Inc. has joined a select group of banks providing vaulting and clearing services for London's gold market, the world's largest bullion trading center. Hungarian authorities are issuing their first international bond since Viktor Orban's ouster, aiming to capitalize on a post-election rally that has lowered borrowing costs. The City of Johannesburg sees a path to a credit rating upgrade from Moody's, despite its current financial precariousness.

Corporate & M&A

Easy Jet shares surged on a fresh £7 billion takeover bid from Castlelake, with the latest proposal at £6.90 per share, an increase from a previous offer. The UK airline's board has indicated it is inclined to recommend the proposal from the U.S. private credit group. Continental AG has agreed to sell its Conti Tech business to Lone Star Funds for approximately €3.1 billion, with proceeds intended for debt reduction and shareholder distribution. Fincantieri shares climbed over 12% following agreements to acquire stakes in four companies, bolstering its operations. Credit Agricole has increased its stake in Italy's Banco BPM to 29.3%, a move expected to reduce its CET 1 ratio by roughly 35 basis points. Carlsberg will hold a 75% stake in a new joint venture with Sapporo Breweries in Southeast Asia and Hong Kong, receiving $643 million in cash from Sapporo. French private equity firm Infra Via has acquired D-Marin, a marina business, for over €1 billion amidst a booming yacht market. Billionaire Zuber Issa is acquiring 85 petrol stations from the collapsed Prax Group for his new venture, EG On The Move.

Global Markets & Geopolitics

Asian technology stocks experienced a downturn following a report on potential manufacturing delays for Nvidia's next-generation AI server rack systems. The National Stock Exchange of India is preparing to market its $3 billion IPO as early as next week. South Korea has launched 24-hour trading for its currency, the won, as part of its broader market liberalization efforts aimed at achieving developed-market status from MSCI. China's decision to renew import licenses for U.S. meat plants offers potential for increased beef shipments in the latter half of the year, as rival exporters exhaust their quotas. The Strait of Malacca remains open, with Indonesia and Singapore reaffirming their commitment to free passage amidst renewed concerns over global shipping lanes due to Middle East tensions. China's testing of a long-range ballistic missile in the Pacific has raised concerns among regional nations. In a rare move, FIFA reversed a one-game suspension for U.S. striker Folarin Balogun after a call from President Trump, making him eligible to play against Belgium in the World Cup, 150.

Other Markets

Gold futures rose after posting their first weekly gain since May, driven by weaker U.S. jobs data and lower oil prices, which tempered expectations for a Federal Reserve interest rate hike. However, gold dropped on Tuesday as rate-hike concerns receded. The buoyant high jewelry market is expected to continue, with bespoke watches and rising gold prices contributing to the sector's perceived investment potential. The vintage watch market is seeing increased demand for rare historical pieces, driving up auction prices. Natural diamonds are undergoing a marketing push using storytelling to appeal to younger consumers, while the industry also seeks to restore their sparkle. The demand for coral jewelry is raising concerns about sustainability. The market for luxury goods is showing strength, with a pawnshop chain serving both those seeking quick cash and affluent customers hunting for secondhand luxury items.