Public Markets 24 Hours

Last updated: August 9, 2026, 11:34 AM ET

Equities

A surge in blockbuster earnings from the largest U.S. companies has helped push major indexes to fresh records, easing fears about AI spending and persistent inflation. Despite a turbulent month marked by sharp swings in tech stocks, diversified stock funds remain up 10.6% year-to-date, with much of the volatility tied to shifting AI expectations. In Europe, money managers are betting that the region's stock market rally has staying power as Europe’s hot stock markets draw increased inflows, supported by strong second-quarter earnings that put Stoxx 600 companies on track for a 22% profit increase. Asian markets are also catching a bid: South Korea’s volatility spike has subsided after a historic selloff flushed out leveraged positions, while the leveraged ETF boom on Wall Street is creating new ways to profit from intraday momentum in tech, amplifying sudden bursts of volatility according to a Bloomberg report.

The IPO market remains hot, led by China’s AI listings bonanza, where CICC has emerged as the dominant financier, underwriting a wave of tech floats as Beijing pushes to compete with the U.S. in the AI race. In the U.S., SpaceX’s $300 billion swing in market value after its record IPO has put Elon Musk back in execution mode, needing to deliver on lofty promises made during the roadshow. Asian carmakers are cashing in on surging U.S. demand for hybrids as high petrol prices drive a 20% jump in July sales for models from Honda, Hyundai and Toyota. Even a niche asset like marinas is drawing private-equity interest, with yacht owners’ impatience helping create a dependable cash-flow business that ticks all the boxes for infrastructure investors.

Fixed Income

Treasury Secretary Scott Bessent is sending fresh signals he is eager to keep bond yields from spiking, a move that Wall Street traders and strategists interpret as bond-market angst. The sensitivity around yields comes as private-credit funds face growing scrutiny: managers report liquidity metrics differently, with some using aggressive math to project strength, raising questions about how liquid these funds really are. Meanwhile, tighter federal mortgage rules will force many condo associations to raise dues, as Fannie Mae requires larger reserve accounts for future repairs, a shift that will hit homeowners’ budgets directly.

Commodities & Energy

Geopolitical risk continues to roil energy markets. Iran is holding firm on the Strait of Hormuz, demanding Washington release frozen assets and lift sanctions before it reopens the waterway. A top Iranian official laid out a series of tough demands, including compensation for war damage, according to a WSJ report. The NYT reports that the strait is Iran’s best leverage to extract concessions, while the Financial Times adds that Tehran says the U.S. must “rectify its behaviour” before reopening. The standoff comes as the U.S. is burning through weapons in the conflict, depleting stockpiles and raising concerns that a drawn-out Iran war benefits Russia and China.

On other supply fronts, Turkey resumed allowing ships to transit its straits on the way to the Black Sea after unexplained delays, amid heightened security risks in the region. Romania extended output at its Cernavoda nuclear reactor by nine days after explosive works on the Danube increased river flow by 4 cm, allowing continued power generation. In east Asia, Typhoon Dolphin made landfall in China after a red alert, forcing the cancellation of 1,300 flights and disrupting rail services. Meanwhile, Indonesia, one of the world’s biggest coal producers, is battling to keep its own lights on because price controls have discouraged domestic supply, leading to power blackouts. Cuba, short on oil, is turning to solar power with Chinese help to weather increased U.S. pressure, as reported by the WSJ.

Currencies & Macro

Central banks in emerging Asia are finding new ways to support their currencies without burning foreign-exchange reserves, using tools like tighter capital controls and moral suasion as Middle East tensions and higher-for-longer U.S. rates persist. China’s inflation data for July showed consumer and factory-gate price growth cooling more than expected, with tepid domestic demand and the fading impact of the Iran war oil shock. Both the WSJ and Bloomberg report that the easing signals continued deflationary pressure, though the decline in oil costs is providing some relief. Bloomberg covers this currency defense makeover in detail.

Corporate & Governance

Barrick Gold’s chairman John Thornton is facing investor backlash over his planned overhaul. After a turbulent 12-year tenure, Thornton seized control from his long-time CEO and is driving a reinvention that shareholders are pushing back against, according to Bloomberg. In the insurance sector, a WSJ analysis found that auto insurers didn’t pay out on 45% of liability and medical claims resolved last year, a figure that highlights the growing risk that insurance won’t pay after a crash. Hargreaves Lansdown, the UK’s biggest DIY investment platform, is ordering staff back to the office three days a week, making a return-to-work push. German shipbuilder TKMS, fresh off a series of large order wins, says it is focused on “prudent growth” with an emphasis on delivery, as CEO Oliver Burkhard warns not to underestimate the firm. Turkey’s new cyber law shifts sweeping powers to the presidency, raising concerns about “absolute digital obedience” among social media and gaming platforms. Lastly, a new UK law imposing a duty of candour on public servants aims to force officials to tell the truth, but holding public servants to account remains difficult amid tribal loyalties.