Public Markets 24 Hours

Last updated: August 12, 2026, 2:33 AM ET

Market Overview

Global equity markets were mixed early Wednesday, with Asian stocks rising on robust tech earnings, while US futures pointed lower as oil prices climbed. The WSJ Dollar Index ended flat. Volatility tumbled as a key fear gauge fell to prewar levels, even as crude hovered near $90 a barrel. European indexes were boosted by energy stocks.

Asia & Pacific Markets

Japan’s Nikkei was flat, supported by financial and energy shares. Sanrio shares plunged as much as 20% after a first-quarter earnings miss. Rakuten shares fell the most in six months after its operating profit missed estimates. South Korean chipmakers SK Hynix and Samsung extended gains on a report that Temasek plans to invest in their stocks. Global investors are favoring Taiwanese stocks over Korean equities on steadier earnings prospects.

In India, index-options trading volumes slumped 27% in the first week of a new closing auction mechanism. Small- and mid-cap funds remained hot with investors despite global headwinds. Retail traders lost $9.6 billion trading equity futures and options, showing limited success from a regulatory clampdown. Godrej Consumer shares fell after its CEO resigned with immediate effect.

AGL Energy shares jumped the most in six months as its batteries helped offset declining wholesale electricity prices. Singapore Airlines lost about S$1 billion on its Air India bet. The Singapore dollar weakened ahead of US inflation data. JPMorgan raised its target for Singapore stocks on robust economic growth. Singapore Exchange is exploring new ETF offerings and tie-ups.

Indonesian tech firm GoTo Group faces MSCI index exclusion after a share plunge. Indonesian bonds may bounce back as a new central bank chief is expected to support the currency. Australia’s smartphone processor market is being reshaped by Nvidia’s entry.

Europe & UK

European markets are charging ahead this year, defying forecasts that the Iran war would tip the region into stagflation. France’s Cac 40 was up, and Germany’s DAX also edged higher. UK stocks were set to fall again as the pound held steady. European defense stocks are set for continued growth as the rearmament cycle enters a new stage.

ABN Amro reported profit that beat estimates and raised its key revenue outlook. Italian Deputy PM Salvini proposed a windfall tax on bank profits. Heatwaves pushed European gas prices close to Iran war highs. Households near UK grid upgrades are in line for lower electricity bills. Private equity is scoring top marks with education deals targeting UK universities.

US Markets

US stocks slid for a second straight session as negotiations on the Strait of Hormuz remained deadlocked. The S&P 500 may be at a record, but anxiety about geopolitics and inflation is keeping animal spirits at bay, which some see as a buying opportunity. Citadel Securities said systematic buyers are preparing to reload on levered stock bets after a massive unwind.

In earnings, Super Micro Computer reported a quarterly profit of $1.17 billion, up from $195.2 million. CoreWeave shares jumped as revenue doubled and a sales backlog hit $104 billion. Cava Group said climbing customer traffic boosted Q2 profit. Constellation Software profit rose to $274 million on acquisition growth. Cardinal Health logged mixed sales but expects revenue to rise in both segments.

H&R Block revenue increased to $1.14 billion and it raised its quarterly dividend. Smithfield Foods cut its outlook as inflation-weary consumers remain cautious. On Holding tempered its sales outlook after underwhelming running-shoe sales. Chobani cut its annual earnings forecast on rising material costs.

General Motors set up a $4.5 billion safety net to avoid parts shortages. Target hired its first chief AI officer. Paramount executives said leaving California is on the table. Cracker Barrel’s CEO exited amid a turnaround effort. Buc-ee’s trademark blitz sparked backlash.

Currency & Rates

The yen edged closer to 160 per dollar, raising intervention concerns. Yen traders are ramping up options activity ahead of US inflation data. A new Katsu Curry Index shows how weak the yen really is. Yen intervention effects are wearing off. The euro fell against the dollar.

South Korea’s 30-year bond yield hit a record on oil and rate hike bets. Barclays said picky bond buyers are keeping 30-year yields at multiyear peaks. Trend-chasing funds have record short bets against global bonds, raising the stakes for CPI. The SEC may take direct control of a controversial market-tracking database.

Commodities & Energy

Oil rose in early trade, with volatility expected amid Middle East developments. Crude advanced for a sixth day on skepticism about a deal to restore flows through the Strait of Hormuz. The US expects oil supply disruptions from the Iran war to reach 600,000 barrels per day through 2027. A dozen ships are continuing to shuttle oil through the strait.

Russia’s crude oil exports tumbled to their lowest since May. The real oil squeeze is happening in refineries, with millions of barrels of refined products taken off global markets. Gold edged higher ahead of US inflation data. Silver fell 0.5%, snapping a two-session winning streak. Copper production forecast was cut again as mine woes persist.

Chile lowered its copper production forecast for a second straight quarter. Panama Canal fees hit a record high as drought and war choke shipping. Colombia’s coffee exports were largely halted after a deadly earthquake. US natural gas futures gave back some gains as soft LNG demand kept a lid on rallies.

Deals, IPOs & Corporate

Jane Street is repaying $5.5 billion of loans as part of a debt overhaul. ICE raised $3.75 billion for its Market Axess takeover. Nasdaq will acquire Leve L Markets. Blue Owl Capital sold $750 million of high-grade debt. Gainwell Technologies started the next leg of a $5.8 billion debt overhaul.

Blackstone and La Caisse agreed to buy 25% of Air Canada’s Aeroplan program for nearly $2 billion. TPG agreed to acquire a 61.2% stake in Lotte Rental for $925 million. Aurora Cannabis is reviewing a $272 million takeover bid from Curaleaf. Ari Emanuel bought theatre group ATG for £4.5 billion.

Japanese self-driving startup Turing plans a US office and targets a $10 billion IPO valuation. DayOne Data Centers confidentially filed for a $5 billion US IPO. Chinese robot maker Unitree raised $900 million ahead of a Shanghai listing. Barrick named Sebastiaan Bock to lead its ex-North America unit ahead of a potential IPO.

Adani Group secured an $800 million loan for data centers. Larsen & Toubro plans to manufacture rare-earth magnets in India. CSN got $1 billion in debt exchange relief. Radiant World is seeking to sell a $150 million aluminum stash.

Credit & Fixed Income

Nvidia eased investor concerns over its swelling commitments to backstop AI. Bond traders dialed back measures of credit risk associated with Nvidia after it clarified its $500 billion plan. Private-credit firms are clamping down on loan sweeteners amid fears of “shadow defaults.” These bonds offer a rare buying opportunity.

The share of overdue consumer loans in the US fell slightly in Q2, with the NY Fed pointing to improvements. Credit-card delinquencies are driven by stale, charged-off loans, though the share transitioning into serious delinquency has stabilized. UWM, America’s mortgage king, took a $2 billion lifeline after a bad trade. The story of how a bad trade pushed the mortgage giant into a crisis highlights the risks in shadow banking.

Politics & Policy

The Trump administration killed the annual Arctic Report Card. Trump sued New York and other states over in-state tuition for migrants. NAV’s anti-wind crusade is boosting US gas. The US fired on a ship it says violated the Iran blockade. Iran is preparing for worsening economic malaise.

Elon Musk may have a compensation target. The SEC is scrutinizing meme stocks. Flock cameras are dividing US cities. Home equity is being tapped at record levels to pay credit card debt.

Technology & AI

Nvidia can’t solve the two big AI buildout problems: scarcity and profit margin. Wall Street and Nvidia are building an exotic money pipeline for the AI boom. The AI data center boom is “maxing out” P&C insurers, AIG’s CEO said. Texas power demand growth was trimmed after a pause on data center projects.

OpenAI COO Brad Lightcap stepped down. China’s tech earnings will test the rotation from AI to internet stocks. Humans cannot remain passengers in the back of the AGI car.

Healthcare & Pharma

How AstraZeneca’s $400 billion deal unravelled. Healthcare investing is now an AI short in disguise. A judge awarded $250,000 to a musician who fled a Trump-led Kennedy Center gig. Goldman Sachs staff were named as suspects in a probe concerning a cancer specialist. Food companies dodged a crackdown in RFK Jr.’s additive transparency proposal.

Energy Transition & Utilities

A darling of the clean energy transition stumbled. Rooftop panels in cities are no replacement for solar farms. South Africa’s Eskom is targeting a data centre “gold rush” with its power surplus. The government vowed Eskom won’t weaken after transmission restructuring. Smithfield Foods cited pressure from higher costs.

Deal Book, Activism & M&A

Activist Anson Funds is pushing Lionsgate for a sale. Shareholder proposal filings are on the wane. The US opened an in-depth antitrust review of the Kone-TK Elevator deal. Atlanta Airport tapped munis for a $1.1 billion mega bond sale. Hawaii tapped the muni market to finish the first US driverless rail line.

Regulation & Litigation

The US questioned Europe’s carbon mechanism as a tariff by another name. China tapped Deutsche Bank as the first foreign yuan clearer in Europe. Deutsche Bank became the first European clearing bank for the renminbi. Chinese hackers hit Taiwan in an unprecedented autonomous AI cyber attack.

Emerging Markets

Emerging-market assets fell on Tuesday as hopes for a US-Iran deal faded. Turkish funds urged authorities to crack down on unusual trading activity. Air Baltic plans a smaller fleet and debt-for-equity swap. Abu Dhabi’s Adnoc L&S posted a record quarterly profit.