Public Markets 24 Hours

Last updated: July 10, 2026, 5:30 PM ET

Public Markets React to Tech IPOs and Mideast Tensions

U.S. stocks edged higher as a blockbuster debut by South Korean memory chip maker SK Hynix Inc. helped stabilize the market. SK Hynix shares surged 13% on their first day of trading on the Nasdaq, opening at $170, well above its initial public offering price of $149. This offering, the latest test of investor appetite for artificial intelligence-related companies it could pave the way for more international listings. The S&P 500 and Nasdaq, overcoming choppy trading. SK Hynix's listing also tied to the chip giant. Meanwhile, the broader market due to concerns over pricing power.

Oil Prices Spike Amid Red Sea Hostilities

Crude oil futures on renewed military strikes in the Middle East. Attacks on commercial ships in the Strait of Hormuz, a development that has created a deepening dilemma for shippers. While crude oil has largely erased its wartime rally, refined fuels are facing increasing supply tightness as refineries in the Gulf and Russia are impacted. Delta Air Lines reported a second-quarter surge in revenue, but, with Iran-related tensions driving jet fuel costs 77% higher than the previous year.

Retail and Apparel Companies Eye Public Markets

Tailored Brands Inc., the owner of Men's Wearhouse, filed for an initial public offering, marking its return to public markets. In the realm of high-profile debuts, fusion startup General Fusion is preparing for its Nasdaq listing, becoming the first in its sector to go public. Separately, fast-fashion retailer Shein in Hong Kong after years of delays.

Private Equity Activity Remains Strong

Apollo Global Management Inc. is on track for a record year of acquisitions, despite a challenging environment for many private equity peers. The firm is reportedly nearing a deal to acquire specialty-pharmacy company PANTHERx Rare for over $7 billion from its current private equity owners. Apollo is also considering a bid for easy Jet, aiming to improve profitability at the budget airline.

Other Market Developments

Precious metals, including gold and silver. U.S. natural gas futures following a larger-than-expected inventory build. In Europe, analysts are raising earnings estimates at the fastest pace since mid-2024, indicating a potential shift in momentum. Circle, a stablecoin company after receiving regulatory approval to operate as a trust bank. BHP Group is exploring the sale of its desalination plant and electricity transmission assets in Chile as part of a strategy to monetize infrastructure.