Public Markets 24 Hours

Last updated: August 10, 2026, 5:36 PM ET

Equities

U.S. stocks edged back from records as the S&P 500 finished last week at an all-time high but major indexes turned lower in afternoon trading. Rocket Lab narrowed its quarterly loss and posted a 137% year-over-year jump in backlog to $2.36 billion, while Hims & Hers Health swung to a second‑quarter loss but boosted its 2025 revenue target to a range of $3.1 billion – $3.3 billion, up from the prior $2.8 billion – $3 billion forecast. Tractor Supply shares climbed to record highs after strong results, while the farm‑and‑ranch chain also said it is retrenching by lowering prices, closing pet‑specialty stores and scaling back expansion.

Investors are abandoning hedges to chase surging stocks, with demand for protection against a drop hitting the lowest level since President Donald Trump’s tariff capitulation last year. The rotation fueled a 30% jump in South Korean small‑cap stocks after restrictions on leveraged ETFs shifted flows. Indonesian stocks neared bull‑market territory on a resilient economy, while emerging‑market stock valuations sank below half of the S&P 500’s for the first time in two decades, a sign of increasingly attractive bargains.

In corporate deals, Teledyne Technologies agreed to buy Varex Imaging for about $1.1 billion. Boeing will sell three autonomous‑flight subsidiaries to Archer Aviation in exchange for a 16.5% stake, folding its flying‑taxi venture into the rival. Intel announced a $15 billion common stock offering, citing “unprecedented investment in AI compute.” Cloudflare plans a $2.175 billion private offering of senior convertible notes, while Duke Energy seeks $1.75 billion in equity units to pay down debt.

Westpac shares dropped after the Australian lender reported a fall in mortgage loan applications, signaling a worsening housing slump. Treasury Wine Estates shares jumped to an eight‑month high after it announced a A$558 million post‑tax writedown to fix U.S. supply problems. Shein is pitching its IPO to investors at below $30 billion, a roughly 70% drop from its peak, while Bloomberg Intelligence values the fast‑fashion retailer at $22 billion – $25 billion ahead of the listing. DatVietVAC, a Vietnamese TV producer, is pursuing an IPO modeled on South Korea’s entertainment success.

Barrick Gold and Newmont resolved their dispute over a Nevada joint venture, clearing the way for a gold‑mining IPO. A consortium led by Jeff Bezos is nearing a deal for a Liverpool FC stake that could value the club above $6 billion. JBS returned leadership to the Batista clan, naming a scion as next CEO of the world’s largest meat supplier. Adnoc Gas will invest more than $8 billion in expansion after the UAE’s exit from OPEC freed it from production restrictions.

Gautam Adani won dismissal of U.S. securities fraud charges, ending a blockbuster case that threatened his conglomerate. Goldman Sachs and other firms are shunning India’s new stock‑closing auction method, complaining that SEBI’s short‑selling rules create hurdles. A $55bn family empire controlled by Leonardo Del Vecchio’s heirs is trapped by internal governance rules that paralyze Delfin’s investment decisions.

Fixed Income

Treasury yields rose as Middle East tensions and inflation fears escalated. Bond markets soured on rising oil prices after hopes for a U.S.‑Iran Hormuz deal faded, and yields continued to climb alongside the dollar. Eurozone government bond yields also rose modestly amid the same geopolitical uncertainty.

The market saw a surge of new issuance: IBM returned to the Canadian bond market for the first time since 2012, raising C$2.75 billion ($1.97 billion). The U.S. investment‑grade bond market greeted 19 firms on Monday, the most in seven months, keeping issuance at a record pace. Cloudflare also tapped the convertible market for $2.175 billion.

A performing arts school in Los Angeles plans to borrow $117 million in the municipal market, marking the largest private‑school bond deal in two years. The SEC exempted data‑center bonds from key securitization rules, potentially opening the door for more asset‑backed debt sales from tech firms. Private credit is showing growing strain, with default rates hitting recent highs and internal loan‑health reviews pointing to tougher times ahead, according to a WSJ analysis.

Currencies

The yen erased about half the gains from the U.S.‑Japan foreign‑exchange intervention, as traders cited a lack of “unified voice” among central banks. The dollar strengthened further against the yen, despite officials’ efforts to prop up the Japanese currency. Emerging‑market currencies broadly weakened against the dollar on fading hopes of an imminent Hormuz deal. India’s foreign‑exchange reserves climbed for five straight weeks, the longest streak since April, boosted by foreign inflows.

The Bank of Japan faces a delicate challenge as the yen’s weakness persists and the weak U.S. jobs report complicates the rate path. Meiji Yasuda Life Insurance is monitoring an industrywide spike in policy cancellations as rising interest rates push customers toward other products.

Commodities

Oil prices continued their ascent amid a stalemate over the Strait of Hormuz. Crude surged as U.S.‑Iran talks for a deal failed to make progress, and hopes of a breakthrough over the weekend were dashed. Brent rose further as doubts grew that the waterway can reopen soon. Saudi Aramco delayed restarting its Jazan refinery to late August after a weekend attack, while Iran’s oil terminals appeared largely idle this month under the ongoing U.S. naval blockade.

European natural gas prices jumped as Hormuz deal prospects remained murky. The market also reacted to an attack on a Saudi refinery near the strait. U.S. natural gas futures rebounded as near‑term weather forecasts added heat and LNG feedgas demand rose. Hotter outlooks triggered a wave of short‑covering, sending futures higher by the most in over two months.

Precious metals pushed higher: gold added 0.5% and silver gained 2.8%. Gold rose to nearly $4,400 an ounce as traders weighed the Hormuz standoff and awaited a key U.S. inflation report. Gold ETFs are pouring money into bullion on the heels of central‑bank buying, reigniting the rally.

In other commodities, wheat climbed ahead of the USDA’s monthly supply‑demand report, which is expected to show declining global grain stocks. Record‑low Danube River levels are constraining Black Sea grain exports via Romania, adding to pressure from escalating Russian strikes on Ukrainian ports. Kenya plans to import one million 90‑kg bags of corn to replenish reserves after a crop failure.

A chicken glut from larger flocks and steady beef demand is dragging down meatpacker margins while lowering grocery bills. Sugar is oversupplied, according to French trader Sucden, but a lack of data is blurring the outlook. Dairy farms are turning to high‑oleic soybeans as feed to produce richer milk and cheaper feed costs, giving U.S. growers a new market.

Chile will allow state‑owned Codelco to retain all of its 2025 profit, leaving about $2.42 billion in the copper giant to revive production and ease record debt. Adnoc Gas is exploring a new LNG export facility outside the Strait of Hormuz to bypass the contested waterway, while the company also appointed Peter Abdo as CEO of Grain LNG in the UK.

The U.S. government provided a $400 million loan to an Australian rare‑earth miner to develop a scandium project, aiming to cut China out of the supply chain. Australia also widened orders on Chinese investors in a rare‑earths mining firm, requiring government approval for share sales.

Central Banks & Macro

Federal Reserve Bank of Cleveland President Beth Hammack said “some number” of rate hikes may be needed to bring inflation back to the 2% target. The Philippine central bank is ready to tighten further if needed, though Governor Eli Remolona said less pressure exists after last quarter’s data. Egypt’s inflation rate accelerated for the first time since March, disrupting a disinflationary streak that had lasted through most of the ongoing U.S.‑Iran war.

Indonesian President Prabowo Subianto nominated Destry Damayanti as the sole candidate to head the central bank, a move that may calm markets after the unexpected resignation of Governor Perry Warjiyo. Malaysian Prime Minister Anwar Ibrahim lost a third lawmaker from his party amid a continuing exodus. The UK cost estimate of Palantir’s NHS data platform rose to more than £1 billion.

Deals & Corporate Finance

Strategy Inc., Michael Saylor’s company, sold more bitcoin and common shares to bolster its cash stockpile. Erebor Bank, backed by Palmer Luckey, is set to raise $1.5 billion at an $8 billion valuation. Revolut won a French banking licence, accelerating its European expansion. A Glencore‑backed consortium is looking to rescue North America’s only cobalt refinery, Sherritt International. Braskem creditors are pressing state‑controlled Petrobras to inject fresh capital into the struggling petrochemical producer as bankruptcy protection looms.

The U.S. pledged $2 billion for battery and materials producers. Diageo is looking to revive three lagging liquor brands – Crown Royal, Smirnoff and Captain Morgan. John Lewis boss Peter Ruis stepped down less than three years into the role, citing “really tough” trading. Todd Boehly’s Eldridge rolled out AI across its portfolio, from Chelsea Football Club to film studio A24, after acquiring 50% of a startup. Private equity remains stuck with 33,575 unsold businesses, even amid a booming deal environment, as exit values fail to meet investor requirements.