Public Markets 24 Hours

Last updated: August 9, 2026, 5:35 AM ET

Equities

European stocks have been firing on all cylinders, drawing money managers who believe the rally will be more durable than a short-term trade. The Stoxx Europe 600 is on track to deliver a 22% increase in profits in the second quarter, prompting investors to return to the region. In the U.S., blockbuster earnings from the largest companies have bolstered stocks’ record run, easing worries about AI spending and inflation. South Korea’s stock-market turmoil may be over after a historic selloff flushed out leveraged positions, with volatility ebbing as regulatory curbs hit risky products. Berkshire Hathaway chief Greg Abel has finally put the company’s cash pile to work, ending a three-year selling streak by ploughing a net $20bn into stocks. SpaceX’s $300bn swing in market value put Elon Musk back in grind mode, as he must execute on highflying promises made ahead of the biggest IPO ever. A virtually unknown fintech that cracked a $1bn market value after linking with the Trump family’s crypto platform has sold its core business for just $12 million. Meanwhile, CICC has become the dominant financier in Beijing’s drive to compete with the U.S. in tech, leading a listings bonanza for AI companies. German shipbuilder TKMS, despite a series of deals, stresses “prudent growth” with a focus on delivery, as its boss warns not to underestimate the company. Hargreaves Lansdown, the UK’s biggest DIY investment platform, has ordered staff back to the office three days a week. Impatient yacht owners are making marinas a hot new private-equity asset class, as they tick the dependable cash flow box. A solar eclipse threatens to tighten Europe’s electricity squeeze, with the continent’s power system already under stress from heatwaves. Indonesia, one of the world’s biggest coal producers, is battling to keep the lights on as its attempt to contain prices at home discourages companies from supplying the local market. Cuba, low on oil, is counting on solar with China’s help, helping the island weather increased U.S. pressure. China’s inflation cooled more than expected in July, with consumer and factory-gate price growth both decelerating, suggesting tepid domestic demand. The factory-gate inflation eased for the first time since the Iran war broke out, as cost pressures from the oil shock abate. Romania can keep its second nuclear reactor at Cernavoda running for at least nine more days after explosive works on the Danube increased the river’s flow. China issued its highest storm alert for Typhoon Dolphin, canceling more than 1,000 flights and suspending rail services.

Fixed Income & Credit

Highly-indebted companies are increasingly ditching private credit loans for cheaper capital in the bank loan market, a shift underscoring the reality of higher-for-longer rates. First Brands, the collapsed car-parts maker, is urging a court to approve a bankruptcy settlement that would fund lawsuits for billions of dollars in claims. A landmark crypto bill has stalled in the U.S. Senate despite a $225mn lobbying push, as lawmakers spar over legislation. It was a tough week for crypto, but a good time to get a drink at a Bitcoin bar.

Commodities & Energy

Iran demanded a U.S. withdrawal to open the Strait of Hormuz, and the United Arab Emirates said Iran launched a missile attack on one of its ships. A senior Iranian official wants Washington to pay compensation for war damage before the strait reopens. The U.S. is burning through weapons in Iran, and Russia and China are taking note, as a more drawn-out conflict benefits Moscow and Beijing. Yemen teeters on civil war as the government’s conflict with Iran-backed Houthi rebels escalates, with regional stability hanging in the balance. Canada offered the U.S. concessions in trade talks but demands a comprehensive deal, as Prime Minister Mark Carney attempts to prevent 50% tariffs on many Canadian goods.

Politics & Policy

The Senate bowed to reality, leaving Trump’s voting bill undone as Republicans lacked the votes. In confirming Todd Blanche, senators endorsed a Justice Department under Trump’s sway, with Blanche believing the president possesses a nearly limitless right to control the department. The Trump administration’s proposed changes to historic site reviews will allow it to take a wrecking ball to sites across the country. Turkey’s cyber law shifts sweeping powers to the presidency, raising concern about “absolute digital obedience” among social media and gaming platforms. Representative Ed Case, a moderate Democrat, defeated a progressive challenger in Hawaii’s primary, in a race centered on the state’s skyrocketing cost of living. Max Miller, a Republican accused of abuse, will not drop out of his Ohio race despite pressure from fellow Republicans. Socialists are winning because they listen to people, and Democrats are going to have to organize voters — not just fund-raise off them. A top scholar’s fall shows that universities don’t get it, as a storied college undermined its values by protecting a star from plagiarism charges. In an interview with the BBC, Hunter Biden said his father’s cancer is worsening, with prostate cancer spreading into his bones. Who is my enemy? I’m no longer sure. Hello, Democrats? Are you listening? Michigan presents as much a warning as an opportunity. Inspired by Ukraine’s battlefield gains, Taiwan is betting on drones to deter a Chinese invasion, as seen in the Han Kuang drills.

Corporate & Deals

Pfizer grapples with “a world of hurt” after the Covid triumph, with sliding vaccine revenues and fears it overpaid for new drugs piling pressure on the boss. The media industry’s nerd-in-chief, People Inc. innovation chief Jonathan Roberts, has bold thoughts on the future of publishers. Can Netflix save a summer slump with a stunt on Sunset Boulevard? The streaming giant paid an actor to spend three days inside a billboard to promote an upcoming film. Mac Kenzie Scott stepped back into the spotlight with a new book, posting four pages of a manuscript on a Substack newsletter and releasing the novel serially throughout August. How an N.F.L.-backed plan to revitalize Canton, Ohio, faltered: the “Hall of Fame Village” was pitched as a boon, but hundreds of millions were spent, the N.F.L. backed out, and the project is unfinished. Reservation apps have made getting into a restaurant a nightmare, as new apps, membership clubs and other middlemen fight over access to high-spending customers. Think it’s cool to wear fancy sneakers to work? You might be old, as young people embrace loafers, derbies and oxfords. A superfan of thrillers recommends some of her favorites. Test your knowledge with the news quiz for August 8, 2026.