Public Markets 24 Hours

Last updated: August 10, 2026, 11:35 PM ET

Equities

U.S. stocks edged back from records in afternoon trading Monday, with the S&P 500 pulling back after closing last week at an all-time high. The broader market held steady through the close as investors navigated the uncertain path of interest rates and the war in Iran, with chipmaker earnings and CPI data expected to set the pace this week. The Nikkei rose 1.2% on gains in electronics and metals, while European indexes were mixed as the Stoxx 600 and Germany’s DAX extended record highs. Emerging-market stock valuations have fallen to less than half those of U.S. equities for the first time in at least two decades, signaling attractive opportunities to some investors. Indonesian stocks neared bull-market territory as investor sentiment was buoyed by signs of a resilient economy. Demand for downside protection against stocks has fallen to the lowest level since Trump’s tariff capitulation last year as indexes rally.

Fixed Income & Bonds

U.S. Treasury yields rose Monday as Middle East tensions and inflation fears increased, with bond markets soured by rising oil prices as hopes for a U.S.-Iran Hormuz deal faded. Yields on eurozone government bonds also rose slightly amid uncertainty over the Strait of Hormuz negotiations. Government bonds in Asia Pacific followed Treasuries lower as oil’s four-day rally revived inflation concerns ahead of key U.S. consumer price data. U.S. high-grade bond issuance continued at a record pace with 19 firms storming the market Monday, the most in seven months. IBM sold C$2.75 billion of Canadian corporate bonds, building on a record issuance year by foreign firms. Cloudflare announced plans for a $2.175 billion convertible note offering after its guidance boost. The SEC made it easier for data center owners to sell asset-backed securities, potentially opening the door for more debt sales. Duke Energy plans to raise about $1.75 billion by selling equity units to pay down debt. A performing arts school in Los Angeles plans to borrow $117 million in the municipal bond market, the largest private school deal in two years. Intel announced a $15 billion common stock offering, citing strong customer demand driven by AI compute investment.

Currencies & Foreign Exchange

The yen strengthened slightly against G-10 and Asian currencies amid prospects of coordinated intervention by Japan and the U.S. However, the currency gave up roughly half its gains from the joint action, with investors citing a lack of unified voice among central banks. The effects of the recent government action are already fading. The dollar continued to strengthen against the yen despite officials’ efforts to prop up the Japanese currency, while most emerging-market currencies weakened against the dollar as fading hopes of a Hormuz deal lifted Brent. Currency traders are stepping up bullish options bets on the Taiwan dollar after its worst July since 2015. The renminbi’s hardest mile is only beginning as turning the currency into a global reserve asset remains a challenge. London plots a digital gold pivot as the FCA seeks to encourage digitization of financial markets.

Commodities

Gold gained in early Asian trade, supported by a weaker-than-expected U.S. jobs report and central bank buying, advancing to a two-month high above $4,400 ahead of a key U.S. inflation report. Gold and silver futures settled higher for the second straight session, with gold adding 0.5% and silver gaining 2.8%. ETFs and central banks are pouring money into bullion, driving the rally. A truce between Barrick and Newmont over their Nevada joint venture clears the way for an IPO. Oil futures edged lower in early Asian trade on a likely technical correction after strong gains overnight, but oil held a four-day gain as Trump made sweeping new demands on Iran, clouding the Hormuz deal outlook. Oil prices rose amid growing doubts that the Strait of Hormuz can reopen soon. Crude rallied as Trump bets he can wait Iran out. Hopes were dashed for a breakthrough on shipping through the critical waterway. Iran’s oil terminals have appeared largely idle this month under the U.S. blockade. China’s independent refiners may boost Iranian crude buying as stockpiles dwindle. U.S. natural gas futures rebounded as near-term weather forecasts added heat and Middle East conflict fed supply concerns. U.S. natural gas futures closed higher after a large swing in weather forecasts triggered short-covering. European natural gas prices jumped as Hormuz deal prospects remained murky. Saudi Aramco pushed back restarting its Jazan refinery to late August after a weekend attack. The global sugar market is oversupplied, according to French trader Sucden, but the outlook is blurred by a lack of data. A chicken glut is dragging down meatpackers and lowering grocery bills. Record-low Danube levels threaten Black Sea grain exports.

Energy, Mining & Infrastructure

Chile granted an unprecedented reprieve to state copper miner Codelco, allowing it to reinvest 2025 profits as production slumps. The government will leave about $2.42 billion in the copper giant to revive production and ease debt. Adnoc Gas is exploring a new LNG export plant to bypass the Strait of Hormuz. Adnoc Gas will invest more than $8 billion in expansion after the UAE’s OPEC exit. South Korea’s Hanwha made a $1 billion push into U.S. naval shipbuilding with a nonbinding offer for Austal USA. Morgan Stanley launched a $1.5 trillion infrastructure initiative to support clients building national security technologies. The U.S. pledged $2 billion for battery and materials producers. The U.S. is backing Australian rare earth miner Sunrise Energy with a $400 million loan to develop a scandium project. Boeing will sell three autonomous flight subsidiaries to Archer Aviation in exchange for a 16.5% stake. The jet maker is folding its flying-taxi venture Wisk Aero into Archer. Teledyne Technologies will buy Varex Imaging for about $1.1 billion. A Glencore-backed group looks to rescue cobalt refiner Sherritt. Braskem’s bondholders press Petrobras for capital as a bankruptcy deadline looms. Europe faces a rocket launcher shortage by 2030, the space agency chief warns.

AI & Technology

Tencent’s Work Buddy sparks AI turnaround hopes after a stock rout, giving the Chinese internet giant a chance to catch up. Meta returned to open AI models after Mark Zuckerberg attacked closed rivals, unveiling an open-source version of its most powerful AI model in a bid to intensify the open vs. restricted debate. Wall Street wants another $500 billion for the AI boom, as six giant investment firms announced a half-trillion dollar effort to raise money for Nvidia customers. Senator Bernie Sanders called on AI companies to pause development to avoid disaster. The AI trade is stealing crypto’s thunder as investors drop bitcoin for AI stocks. AI will boost oil and gas production more than green energy, a report finds. A growing share of equity leverage is riding on AI stock names, many of which have seen historic swings. The hidden lease leverage of AI hyperscalers is very significant.

Deals, Earnings & Corporate Finance

OpenAI’s head of ethics left less than a year after joining, among several high-profile exits amid safety concerns. Shein pitched its IPO to investors at a sub-$30 billion valuation, a roughly 70% drop over four years. A Jeff Bezos investor group is closing in on a Liverpool FC stake in a deal that could value the club at over $6 billion. Gautam Adani won dismissal of U.S. securities fraud charges, ending a blockbuster case. Trump Media reported more than 10 sign-ups to its real-time Truth Social feed, primarily from high-frequency trading firms. The company’s second-quarter loss deepened to $238.1 million due to a decline in digital asset values. Traffic to Truth Social fell sharply this summer with double-digit visitor declines. JBS heir Wesley Batista Filho will become CEO of the world’s largest meatpacker, restoring control to the Batista family. 777 Partners filed for bankruptcy after creditors sought liquidation. Rocket Lab narrowed its loss as revenue climbed, ending the quarter with a $2.36 billion backlog. Hims & Hers boosted its revenue target to up to $3.3 billion despite swinging to a second-quarter loss. Tractor Supply stock climbed to record highs after strong earnings, but the chain is cutting prices and scaling back expansion as shoppers delay purchases. Cambridge Aerospace, a UK missile and drone interceptor start-up, raised $300 million at a $3.4 billion valuation. Start-up bank Erebor, backed by Palmer Luckey, is set to raise $1.5 billion at an $8 billion valuation. Revolut won a French banking license, accelerating its European expansion.

Central Banks & Monetary Policy

Federal Reserve Bank of Cleveland President Beth Hammack said “some number” of rate hikes may be needed to bring inflation down to 2%. Colombia’s inflation unexpectedly slowed, easing pressure on rates after policymakers kept borrowing costs unchanged. The Philippine central bank is ready to tighten further despite weak GDP growth. Indonesia’s Prabowo nominated Destry Damayanti as central bank chief to calm markets. Egypt’s inflation quickened for the first time since March during the U.S.-Iran war.

Geopolitics & Macroeconomics

A powerful magnitude 7.4 earthquake in Colombia killed at least 111 people, damaging over 1,500 homes and shaking Bogotá and other cities. The quake hit hardest near the epicenter in the Pacific Coast region. New President Abelardo De La Espriella, inaugurated Friday, is leading the disaster response. A Ukrainian drone attack on a Russian industrial city in Tatarstan killed at least 13 people, one of the deadliest attacks inside Russia since the war began. President Trump’s low-key pivot leaves Hormuz oil in limbo as he bets on waiting Iran out. U.S. airstrikes have devastated southern Iran, upending lives on Qeshm island. Iran named longtime IRGC commander Mohsen Rezaei to a top security post, consolidating power. Netanyahu walks a tightrope balancing Trump’s Gaza disarmament demands with his right-wing base. Russia’s antiwar party Yabloko was banned from parliament elections.

Politics & Regulation

Hong Kong is set to include trading firms in its ‘big bang’ tax reforms, potentially exempting performance-related pay for staff at Jane Street and Citadel Securities. The Nifty 50 inclusion could boost BSE with about $741 million in passive flows. The SEC alleged fund adviser Adit Ventures misled investors in pre-IPO schemes. The FDA ordered food-ingredient disclosure, delaying RFK Jr.’s ultraprocessed crackdown; tougher enforcement will require Congress. Chicago hired Ashlee Gabrysch, a Fitch senior director, as its new CFO amid a rash of exits. Andy Burnham will crack down on vape and betting shops to boost high streets. London needs capital to revive its struggling public markets, the LSE’s deputy CEO said. A U.S. regulator rejected Dutch fintech Bunq’s banking license application. Boeing sold three autonomous flight subsidiaries to Archer Aviation, gaining a 16.5% stake. Homeland Security is intensifying the pursuit of noncitizens on voter rolls, with immigrants facing deportation for inadvertent registration. Malaysia’s Anwar lost a third lawmaker this year in a party exodus.