Public Markets 24 Hours

Last updated: August 11, 2026, 5:36 AM ET

Public Markets

Markets Overview

Global stocks were mixed as a sustained rally in oil prices revived inflation concerns ahead of key US consumer price data. The S&P 500 finished last week at a record high but edged lower Monday, while European indexes gained on energy stocks. The FTSE 100 was supported by oil majors. In Asia, Hong Kong’s tech index is set for an overhaul to include more AI and robotics firms. The euro Stoxx 600 is up 12% this year, defying stagflation fears. US futures were mostly lower as Middle East tensions and rising oil clouded the outlook.

Equities

European defense stocks are tipped to reignite their rally as the region’s rearmament cycle enters a new phase, according to Barclays and RBC. European markets overall have charged ahead despite the Iran conflict. In the US, CoreWeave reports earnings Tuesday, with its forecast key to halting another selloff. AI stocks are increasingly concentrated in ETFs, spreading risk to the broader market. Nvidia is assembling a $500bn financing package for AI infrastructure. Tencent hopes its Work Buddy AI tool will spark a turnaround. Meta released an open-source AI model, Muse Glimmer, intensifying the openness debate. Cloudflare plans a $2.175bn convertible notes offering after its guidance boost. Rocket Lab narrowed its loss and increased revenue, ending Q2 with a $2.36bn backlog. AST SpaceMobile reaffirmed 2026 revenue of $150M-$200M as its satellite network expands. Hims & Hers boosted its revenue target to $3.1bn-$3.3bn, despite swinging to a Q2 loss. Tractor Supply hit record highs after strong earnings, but the company is retrenching with price cuts and store closures. Diageo is trying to revive lagging brands like Crown Royal. e.l.f. Beauty’s CEO credits family business lessons. In India, Wipro exited the Nifty, replaced by BSE, reflecting the shift from IT outsourcing. BSE inclusion could bring $741M in passive flows. Gautam Adani won dismissal of US fraud charges, ending legal woes. Unitree, a Chinese robot maker, raised $900M in an IPO oversubscribed 5,500 times. Shein is pitching its IPO at below a $30bn valuation. Emerging-market stock valuations have fallen to less than half of the S&P 500’s for the first time in two decades. Indian equity fund flows moderated in July but small-caps stayed hot. Strategy Inc. sold more Bitcoin and shares to bolster cash. Trump Media reported a Q2 loss of $238.1M on digital asset declines. Truth Social traffic fell sharply over the summer. Duke Energy plans a $1.75bn equity units offering to pay down debt.

Fixed Income & Rates

Treasury yields rose as oil prices revived inflation fears and hopes for a US-Iran deal faded. The dollar strengthened further against the yen. US investment-grade bond issuance surged Monday with 19 firms, the most since January. IBM raised C$2.75bn in Canadian bonds, its first sale there since 2012. The SEC exempted data-center bonds from key securitization rules, potentially opening more debt sales. Cloudflare also announced convertible notes. Federal Reserve’s Hammack said “some number” of rate hikes may be needed to bring inflation to 2%. Colombia’s inflation unexpectedly slowed, easing pressure on rates. A Los Angeles performing arts school is borrowing $117M in muni bonds, the largest private school deal in two years. Investors abandoned hedges to chase stocks, with demand for protection at its lowest since Trump’s tariff capitulation. Gilts dropped as oil revived inflation worries. The BoE needs more parliamentary attention, argues a Financial Times piece.

Commodities

Oil extended its rebound after President Donald Trump made sweeping new demands on Iran, clouding the Strait of Hormuz outlook. Brent crude neared $90. Iran’s oil terminals appear largely idle amid a US naval blockade. China’s teapots may boost Iran oil buying as stockpiles dwindle. The real oil squeeze is happening in refineries, with millions of barrels offline. Aluminum hit a seven-week high as Hormuz concerns threatened supply. Gold is rallying again, supported by ETF inflows and central bank buying, and is poised to rebound toward key resistance of $4,500 per ounce. Gold also gained on a weaker-than-expected US jobs report. Precious metals pushed higher, with silver up 2.8%. Copper shipments from Indonesia were delayed by the Gresik smelter outage. Chile granted Codelco an unprecedented reprieve to reinvest 2025 profits. US natural gas surged on hotter weather forecasts and short-covering. Saudis delayed restarting the Jazan refinery to late August after an attack. Adnoc L&S posted record quarterly profit on strong shipping rates. Barrick and Newmont reached a gold mining truce, clearing the way for an IPO. Glencore-backed group looks to rescue cobalt refiner Sherritt. AI will boost oil and gas production more than green energy, a report finds. Sugar is oversupplied, Sucden warns. Chicken glut is lowering grocery bills. Record-low Danube levels threaten Black Sea grain exports. Kenya plans corn imports after crop failure. High-oleic soybeans gain traction as dairy feed.

Currencies

The yen sank as the effect of US-Japan intervention faded, giving up roughly half its gains. The euro fell against the dollar, with ING seeing a narrow $1.1515-$1.1560 range. The yuan may resume its march against the dollar next month, analysts say. The renminbi’s hardest mile is just beginning. Traders are piling into Taiwan dollar options to bet on a rebound. The Singapore dollar was steady, supported by stronger-than-expected 2Q GDP growth.

Deals & Corporate News

AstraZeneca’s $400bn tie-up with Bristol Myers unravelled. Hanwha Aerospace made a $1.2bn offer for Austal’s US unit, a defence push. Boeing will fold its flying-taxi venture into Archer Aviation, selling three subsidiaries for a stake. Teledyne is buying Varex Imaging for $1.1bn. 777 Partners filed for bankruptcy after creditors pushed for liquidation. DayOne Data Centers confidentially filed for a $5bn US IPO. Liverpool FC is nearing a deal with a Bezos-led consortium that could value the club at over $6bn. JBS returns leadership to the Batista clan as scion named CEO. Samsung SDI bought GM’s stake in a US battery JV. Larsen & Toubro plans to make rare-earth magnets in India. Braskem creditors push Petrobras for capital as deadline looms. Italy fined A2A €5M for power market manipulation. Morgan Stanley announced a $1.5 trillion infrastructure initiative. The US pledged $2bn for battery and materials producers.