Public Markets 24 Hours

Last updated: August 11, 2026, 2:38 AM ET

Global Equities

European markets began the week on a mixed note, with the Stoxx 600 and Germany’s DAX extending Friday’s record highs, while the FTSE 100 and France’s CAC 40 traded lower. US stocks held steady through Monday’s close after a strong earnings week, with the S&P 500 having finished last week at a new all-time high. The market is now gearing up for a key US inflation report and chipmaker earnings that are expected to set the pace. In a sign of shifting sentiment, investors are abandoning hedges to chase soaring stocks, with demand for protection against a drop falling to its lowest level since Trump’s capitulation on tariffs last year. Emerging markets offered a stark contrast, as emerging-market stock valuations sank to less than half those of US equities for the first time in at least two decades, a potential signal of attractive opportunities to some investors.

European Investment & Market Structure

A European investment revival is underway, with the Stoxx 600 gaining 12%, putting the continent back on the radar for global capital. However, structural challenges persist. The London Stock Exchange’s deputy CEO said London needs capital to revive its struggling public markets, noting that major UK companies are moving primary listings to the US or bypassing London entirely. In Hong Kong, a reform push is gaining momentum, with officials including trading firms in 'big bang' tax reforms as part of a push to compete with Singapore for top-tier financial talent. Meanwhile, Vietnam is betting on Korean-style chaebols to boost growth, prioritizing homegrown conglomerates after relying on trade and foreign investment.

Technology, AI & Semiconductors

The AI trade continues to dominate headlines. Nvidia is becoming the bank of AI, with Wall Street groups working with the chipmaker to assemble a $500bn funding package for AI infrastructure, while a separate consortium of six firms also announced a $500bn effort to raise money for Nvidia customers. TSMC could see central processing units become a new growth driver with the takeoff of agentic AI, Bernstein analysts said. In China, Tencent’s WorkBuddy is sparking AI turnaround hopes after a stock rout, giving the internet giant a chance to catch up with rivals. Meta is returning to open AI models after CEO Mark Zuckerberg attacked closed rivals OpenAI and Anthropic, unveiling a powerful open-source model that can be freely modified. A 30-person London start-up, Cosine, has UK government backing to build a sovereign AI model but faces far better-resourced rivals. The AI threat to India’s IT jobs machine is mounting as disruption comes for the country’s massive tech services sector. In regulation, Senator Bernie Sanders is calling on AI companies to pause development to “avoid disaster,” warning corporations have lost control of technology that could cause “potentially cataclysmic results.” On the corporate governance front, OpenAI’s head of ethics has left the start-up less than one year after joining, one of several high-profile exits amid growing safety concerns. The concentrated nature of AI bets is a risk; AI stock-heavy ETF risks are spreading to the broader equity market, with a growing share of leverage riding on names that have seen historic swings. Meanwhile, the AI trade is stealing crypto’s thunder, with investors dropping bitcoin for the mania over AI stocks. AI will boost oil and gas production more than green energy, a report found, stoking debate over the tech's impact on greenhouse gas emissions.

IPO, M&A & Capital Markets

A potential blockbuster M&A deal has fallen apart: an AstraZeneca tie-up with Bristol Myers valued at $400bn unravelled after an FT report. In the energy sector, a Glencore-backed group is looking to rescue cobalt refiner Sherritt, becoming the second major investor aiming for control of North America’s only cobalt refinery. A Barrick and Newmont gold mining truce over their Nevada joint venture has cleared the way for an IPO. In metals, Teledyne Technologies will buy Varex Imaging for $1.1 billion. In the aerospace sector, Boeing will sell three autonomous flight subsidiaries, including its flying-taxi venture Wisk Aero, to Archer Aviation in exchange for a 16.5% stake. Intel has announced a $15 billion stock offering, citing strong customer demand driven by AI investment. A Jeff Bezos-led consortium is closing in on a Liverpool FC stake in a deal that could value the club at over $6bn. In the US naval shipbuilding sector, a South Korean group, Hanwha, is making a $1bn push with a bid for Austal USA. Elsewhere, Morgan Stanley is facilitating a $1.5 trillion infrastructure initiative to support clients building companies and technologies central to US economic and national security. Start-up bank Erebor, backed by Palmer Luckey, is set to raise $1.5bn at an $8bn valuation. The Shein IPO is being pitched to investors at a sub-$30bn valuation, a roughly 70% drop in valuation over four years for the fast-fashion retailer.

Fixed Income & FX

Government bonds in Asia Pacific followed Treasuries lower as a rally in oil prices revived inflation concerns ahead of key US consumer price data. Eurozone government bond yields rose slightly amid uncertainty over US-Iran negotiations regarding the Strait of Hormuz. The US high-grade bond market saw 19 firms storm the market on Monday, the most in seven months, continuing a record pace. IBM raised C$2.75 billion in its first Canadian bond sale since 2012. Cloudflare plans to sell $2.175 billion in convertible notes after its guidance boost. The SEC exempted data-center bonds from key securitization rules, potentially opening the door for more debt sales. A performing arts school in Los Angeles is planning to borrow $117 million in the muni market, the largest private school deal in two years. In FX, the yen sank as the effect of US-Japan intervention faded, giving up roughly half its gains with investors citing a lack of unified voice among central banks. The yuan’s march against the dollar may resume next month, with seasonal factors expected to lift the Chinese currency. Traders are piling into Taiwan dollar options to bet on a rebound after the currency suffered its worst July since 2015. The Singapore dollar was steady, supported by stronger-than-expected 2Q GDP growth. The dollar continued to strengthen against the yen, despite officials’ efforts to prop up the Japanese currency.

Oil & Commodities

Oil prices surged as fading prospects for a Hormuz deal heightened supply disruption concerns, with doubts growing that the strait can reopen soon. Iran’s oil terminals have appeared largely idle this month as the US maintains a blockade. European natural gas prices jumped as discussions between Iran and Oman failed to convince traders. Aluminum hit a seven-week high as the Hormuz impasse threatened supply. In metals, gold climbed above $4,400 to a two-month high ahead of a key US inflation report, with gold rallying again thanks to ETF inflows and central bank buying. Precious metals pushed higher to start the week, with silver gaining 2.8%. U.S. natural gas futures rebounded as near-term weather forecasts added heat to the outlook, rising by the most in more than two months. In agriculture, a French trader warned of sugar oversupply as futures rally, while Kenya plans corn imports after crop failure. Copper shipments from Indonesia are delayed by a smelter outage at the Grasberg mine. China’s “teapot” refiners may boost Iran oil buying as stockpiles dwindle.

Central Banks & Policy

Federal Reserve Bank of Cleveland President Beth Hammack said “some number” of rate hikes may be needed to bring inflation to target. Colombia’s inflation unexpectedly slowed, easing pressure on the central bank after they kept borrowing costs unchanged. The European Commission’s carbon tax will hit EU’s budget airlines hard, with plans for a wider levy potentially benefiting long-haul carriers. The BoE needs more parliamentary attention, according to an opinion piece arguing that further scrutiny would strengthen independence. Chile granted an unprecedented reprieve to state copper miner Codelco, allowing it to reinvest 2025 profits as production slumps and debt surges.

Corporate & Industry News

Heavy machinery and vehicles: A chicken glut is dragging down meatpackers and lowering grocery bills, while JBS is returning leadership to the Batista clan as the scion is named CEO. Tractor Supply is retrenching by cutting prices, closing pet-specialty stores, and slowing expansion. Diageo is trying to revive three lagging liquor icons: Crown Royal, Smirnoff, and Captain Morgan. A Flock of cameras tracking every car in the US has drawn police support but citizen distrust. Germany’s TKMS shipbuilder boss steered the company to large order wins, stressing prudent growth. FanDuel and DraftKings are hedging their bets with a predictions pivot. Revolut has won a French banking licence, accelerating the fintech's European expansion. The John Lewis boss has stepped down amid “really tough” trading. Banks’ refusal to take on crypto firms risks stunting UK industry’s growth, lawmakers said. 777 Partners has filed for bankruptcy after creditors’ liquidation push. Gautam Adani won dismissal of US fraud charges, ending a blockbuster case. US natural gas futures closed higher as hotter outlooks triggered short-covering.

Geopolitics & Economy

President Trump has secretly used a military jet to leave Turkey amid threats, hiding in an airport catering container. A deadly New York boat tour capsized, killing a mother and her infant daughter, and the captain has been charged. A major quake hit Colombia, killing at least, with the new president tested by the disaster. A Ukrainian drone attack deep inside Russia killed at least. Spain’s migrant crisis exposes serious challenges for young Moroccans. EU border checks are doubling queues at major airports, with peak waiting times hitting two hours in Frankfurt and Amsterdam. German truckers are taking the load as drought hits Rhine shipping, with emergency moves to suspend Sunday lorry bans. Record-low Danube levels are straining the vital route for Black Sea grain. Hotel prices in Europe are surging ahead of a historic eclipse.