Last updated: August 10, 2026, 11:38 AM ET
Stock Markets
U.S. stocks opened flat on Monday as focus turned to upcoming chipmaker earnings and U.S. inflation data. Major indexes edged back from Friday’s record levels, with markets little changed as the final stretch of second-quarter earnings season begins. European indexes were mixed, with the Stoxx 600 and Germany’s DAX extending record highs while the CAC 40 and FTSE 100 slipped. Indonesian stocks neared bull-market territory as investor sentiment improved on signs of a resilient economy. A rotation from leveraged ETFs fueled a 30% jump in South Korea’s small-cap stocks as interest shifted from heavyweight chipmakers. Emerging-market stocks and currencies climbed after soft U.S. jobs data eased expectations for Federal Reserve rate hikes. Their valuations have fallen to less than half of the S&P 500’s for the first time in at least two decades, signaling attractive opportunities to some investors. In the UK, the FTSE 100 is set to fall as the pound steadies. Westpac shares dropped on signs of an Australian housing slowdown, as the lender reported a decline in mortgage applications. Australia’s wheat crop rebounds at a crucial time for global supply.
Fixed Income
Treasury yields rose on Monday as Wall Street braced for U.S. inflation data due later this week. Eurozone government bond yields ticked higher amid uncertainty over U.S.-Iran negotiations to reopen the Strait of Hormuz. The UK cost estimate for Palantir’s NHS data platform has risen to more than £1bn, with the lifetime charge increasing to £1.1bn. Private credit is under growing strain as default rates hit recent highs and internal reviews point to tougher times ahead.
Foreign Exchange
The yen sank, giving up roughly half of the gains from the historic U.S.-Japan joint intervention, as investors cited a lack of unified voice among central banks. The dollar strengthened against the yen as the intervention effect faded, with Goldman Sachs noting a Bank of Japan rate hike next month would help bring long-term strength to the Japanese currency. The yen extended losses, erasing half the gains sparked by the joint intervention. The Aussie-yen is set to approach a three-decade high as the RBA’s hawkish stance bolsters the Australian dollar. India’s FX reserves climbed toward a record high on foreign inflows, rising for five straight weeks.
Energy & Commodities
Oil prices climbed on Monday as hopes for a breakthrough on shipping traffic through the Strait of Hormuz were dashed, with oil rising amid growing doubts the waterway can reopen soon. Iran insists the strait will stay closed until Trump agrees to its demands. Tehran said the US must meet new conditions before reopening the waterway, as Iranian rhetoric hardens. A Glencore consortium offers a rival bid for troubled Canadian miner Sherritt International. Barrick Mining settled a long-standing dispute with Newmont over their Nevada operations, securing a $1.95 billion cash payout and paving the way for a potential IPO of Barrick’s North American assets. Gold held above $4,400 ahead of U.S. inflation data after its best weekly performance since January. The metal is rallying thanks to deep-pocketed buyers like ETFs and central banks. Gold held above $4,300 on soft U.S. jobs data that trimmed rate-hike bets. U.S. natural gas futures started the week with a rebound as near-term forecasts pointed to hotter weather favoring power-sector demand. The fuel surged by the most in more than two months as an unusually large swing in weather forecasts triggered short-covering. Wheat hit its highest level in more than a week due to shipping disruptions in the Black Sea. London is plotting a digital gold pivot to protect bullion trading, as the FCA seeks to digitize financial markets. Adnoc Gas is investing more than $8 billion in an expansion push after the UAE’s exit from OPEC, and is exploring a new LNG export plant to avoid the Strait of Hormuz. The US backs an Australian rare earth miner with a $400mn loan to cut out China. Australia widened orders on Chinese investors in a rare earths firm. Record-low Danube levels strain a vital route for Black Sea grain exports, constraining flows through Romania. An Iranian missile hit a UAE tanker amid Hormuz talks. The latest oil market news shows oil rose as Iran and Oman remained short of a deal, while Houthi militants claimed an attack on a Saudi refinery. Record-high heat in Pakistan’s red chili capital threatens future cultivation. Dairy farms are turning to high-oleic soybeans for feed, giving U.S. growers a new market amid trade war export challenges.
Geopolitical Risk
A powerful earthquake struck Colombia, shaking Bogotá, Cali and Medellín weeks after quakes devastated parts of Venezuela. A Ukrainian drone attack on an industrial city in Russia killed at least, marking one of the deadliest attacks on Russian territory since the war began. The strike hit an industrial center in Tatarstan. Southern Iran bore the brunt of U.S. bombing, with near-constant airstrikes upending lives in Qeshm island. Trump’s low-key pivot leaves Hormuz oil in limbo, with the president betting he can wait Iran out. Iran taps longtime IRGC commander Mohsen Rezaei to a top security post, suggesting consolidation of power. Israel rejects Trump’s 15-point plan to disarm Hamas. Iranian demands disrupt Trump’s plan to end the war. Trump’s Venezuelan oil boom sputters. The Iran war timeline details key moments in the U.S.-Israel campaign. A drone ‘hellscape’ might stop a Chinese invasion of Taiwan, inspired by Ukraine’s battlefield gains.
Company News & Deals
Shein’s IPO is pitched to investors at a sub-$30bn valuation, suffering a roughly 70% drop over the past four years, with BI valuing the fast-fashion giant at $22 billion to $25 billion. Intel will offer $15 billion of common stock, citing strong demand driven by AI compute investment. Cloudflare plans to sell $2.175 billion in convertible notes after its guidance boost. Duke Energy seeks $1.75 billion in an equity units offering to pay down debt. Teledyne Technologies will buy Varex Imaging for $1.1 billion inclusive of equity awards and debt. Boeing will sell three autonomous flight subsidiaries to Archer Aviation in exchange for a 16.5% stake. The jet maker is also folding its flying-taxi venture Wisk Aero into Archer. Strategy Inc. sold more Bitcoin and common shares to bolster its cash stockpile. Tractor Supply stock climbed to record highs after strong earnings, as the company retrenches by cutting prices and scaling back expansion. Diageo looks to revive lagging liquor icons like Crown Royal, Smirnoff, and Captain Morgan. Meiji Yasuda Life is watching policy surrenders as rates rise. Italy fined A2A SpA €5 million for power market manipulation in 2022. Treasury Wine shares soared after tackling excess U.S. supply with a $395 million post-tax writedown. John Lewis boss Peter Ruis steps down amid tough trading. A start-up bank backed by Palmer Luckey is set to raise $1.5bn, valuing Erebor at $8bn. Revolut won a French banking licence. Private equity is stuck with 33,575 unsold businesses even amid a booming deal-making environment. Todd Boehly’s group rolls out AI to Chelsea and A24 after acquiring 50% of Sudolabs. Anwar Ibrahim lost a third lawmaker from his party in a party exodus. A very British by-election reaches its finale in Clacton. The FCC tries to save broadcast TV by scrapping ownership caps.
Industry Trends & Company Dynamics
Waymo is growing faster than ever, but its driverless cars keep encountering unexpected ‘edge cases’ as it deploys to 15 U.S. cities. Meta is betting big on open AI, embracing closer ties to Washington. Mark Zuckerberg attacks closed AI rivals as Meta returns to open models. Meta unveiled Muse Glimmer, an open-source version of its most powerful AI model. The AI trade is stealing crypto’s thunder as investors flee bitcoin for AI stocks. AI agents are taking entire online courses for cheating students. How AI changes young people’s social lives. Can AI get you where you want to go for less? War is helping Chinese EVs upend the global car market as high gasoline prices boost exports. Europe faces a rocket launcher shortage by 2030, the space agency chief warns. Cambridge Aerospace raises $300mn at a $3.4bn valuation for missile and drone interceptors. Smoking is cool again, according to a new trend. A €55bn family empire is trapped by its own rules as conflict between Leonardo Del Vecchio’s heirs leaves Delfin in stasis. Gucci is breaking luxury’s penny-pinching taboo by reducing overheads and lowering prices. Bunq, a Dutch fintech, had its U.S. banking license application rejected by regulators. Kenya plans corn imports after a crop failure due to bad weather. Malaysia was confident in its social media ban, but kids are still logged in. Lake Mead is smaller than ever, with record-low water levels imperiling supplies and electricity. Data-center backlash leads to a new land rush in the Texas oil patch.
Geopolitics & Macroeconomics
Trump names Will Scharf as White House Counsel. AOC says she is freezing her eggs and still mulling a presidential run. The left’s playbook for winning elections focuses on different tactics. Minnesota’s Democratic Senate primary pits Angie Craig against Peggy Flanagan in a test of left-wing energy. Obama and Abdul El-Sayed discuss unity after the Michigan Senate primary. The winning formula for Democrats in red states is exemplified by Rob Sand. America is atomizing into a nation of “us versus them.” The U.S. pledges $2 billion for battery and materials producers. China sails the ‘Ice Silk Road’ to the Arctic, bypassing shipping chokepoints. London needs capital to revive its struggling public markets, the LSE’s deputy CEO says. A food scare can serve up healthy profits. Flock cameras can track every car in America, sparking civil liberties outrage. Ben Jones, “Dukes of Hazzard” actor and congressman, dies at. Dr. Maura L. Gillison, who linked throat cancers to HPV, dies at. Egypt headline inflation quickened for the first time since March. Indonesia’s Prabowo taps Destry Damayanti as central bank chief to calm markets. The Philippine central bank keeps a rate hike on the table despite weak GDP growth. The Hungarian central banker touts the benefits of joining the euro area. The AI-driven chip crunch leads to a new rush of lobbying in Washington. China bets on AI stocks as it races against the U.S. for chip and tech dominance. A near miss in Sydney between Jetstar and Qatar Air triggers a safety probe. Burnham promises to tackle rip-off discounts and subscription traps. DatVietVAC advances a Vietnam IPO as it looks to the Korea playbook. HFTs shun India’s stock closing auction over a SEBI short-selling hurdle. An eclipse will sweep across Europe on Aug. 12. Europe braces for a new heat wave after a record-breaking summer start. An expert in traffic jams has a scary idea about autonomous cars turning on us. The dating scene in South Korea is dominated by chip engineers from Samsung and SK Hynix. Small newspapers are still finding readers with dedicated owners. NYT CEO discusses running a media brand in the age of AI. The Hallmark Channel knows about love. At Edinburgh Fringe, it’s time for comedy, stunts and even a few owls. Amanda Knox takes the mic at Edinburgh Fringe to reclaim her story. Missy Mazzoli tackles the opioid crisis at Edinburgh Fringe. Medicare Advantage perks get scrutiny. Porter Airlines canceled a flight after a child refused to be seated. What America owes to Afghan women. One man transformed his Spanish hometown. Did he also spoil it? A mother and daughter die after a boat overturns in New York Harbor. A chicken glut is dragging down meatpackers and lowering your grocery bill. A French trader warns of a sugar oversupply as futures rally. A chicken glut is dragging down meatpackers—and lowering your grocery bill. U.S. natural gas futures start the week with a rebound. How small, independent newspapers are still finding readers. The yen sinks as the effect of US-Japan intervention fades. US natural gas surges as hotter outlooks trigger short-covering. Dollar strengthens against yen as intervention wears out.