Public Markets 24 Hours

Last updated: August 13, 2026, 2:32 AM ET

Global Equities

Global stocks climbed toward a record as a subdued US inflation report eased concerns about an imminent interest-rate hike by the Federal Reserve. The S&P 500 closed near all-time highs, led by the technology sector, as the AI trade re-emerged following upbeat results from Core Weave and Super Micro Computer. The tech-heavy Nasdaq was also boosted by a sharp jump in semiconductor names, with Cisco reporting a sharp jump in profit as AI orders roll in. Asian markets rallied strongly. Japan's Nikkei rose 1.8%, led by chip and electronics stocks, as eased fears about Fed rate hikes and gains in US tech stocks overnight provided a tailwind. South Korean stocks jumped 23% in 10 days, pushing the market toward a technical bull market, as a revival in the global AI trade regained steam. Lenovo shares surged 19% after the Chinese computer maker reported a 43% increase in quarterly revenue, beating analyst estimates and reinforcing optimism around AI-driven demand. ASX Ltd. shares jumped the most in six years after Australia's main exchange operator gave a positive outlook on its listings business. European indexes were mostly lower as Middle East tensions weighed on sentiment. The FTSE 100 was set to join the global rally, with the pound steadying. Vestas shares soared as wind turbine orders bounced back, with the Copenhagen-listed group raising profit guidance and announcing a share buyback. Thyssenkrupp raised the low end of its full-year profit guidance, citing strength at its steel and naval divisions.

Fixed Income

Bonds extended their gains as the subdued US inflation report relieved pressure on the Federal Reserve. A $42 billion auction of 10-year US Treasuries resulted in the highest yield for benchmark securities since 2007, luring decent appetite from investors. Treasury yields and the dollar recovered partially from their morning declines. Eurozone government bond yields rose ahead of the US CPI data. Pimco said market anxiety about the Fed's inflation-fighting credentials is overdone, arguing that US bond yields at current levels look attractive. India's inflation held within the Reserve Bank's target range, cementing expectations policymakers will keep rates unchanged.

Commodities

Oil markets were mixed. Oil futures ended little changed in cautious trading as the market remained focused on the Strait of Hormuz standoff. US crude oil inventories rose unexpectedly last week, with stockpiles posting an unexpected build of 17.4 million barrels. Russia's crude-only production lagged behind its OPEC+ quota by almost a million barrels a day in July as Ukraine attacked the nation's oil infrastructure. Saudi Arabia reported to OPEC that it increased crude oil production by just over 1 million barrels a day last month. The IEA said the Hormuz standoff is derailing oil supply recovery and deepening the demand slump, with global demand set for a deeper contraction this year. Precious metals climbed. Gold settled 0.6% higher, up for a fourth consecutive session, while silver rose 1.2% as tame US inflation eased rate-hike bets. Gold held near $4,400 an ounce. Aluminum extended its fall from a seven-week high as supply fears eased after one of the Middle East's biggest smelters announced plans to restore production earlier than expected. Agricultural markets saw volatility. The USDA made a surprise cut to corn yield projections, now at 180.7 bushels an acre for the 2026/27 season. The Russian blockade of major Ukrainian ports threatens global grain supplies, with deadly strikes part of a long-running maritime battle. Colombia partially resumed coffee exports through Buenaventura port after a major earthquake disrupted the vital export route. US natural gas futures rose ahead of weekly inventory data, supported by hotter weather forecasts.

Currencies & Rates

The yen edged closer to the key level of 160 per dollar, keeping investors on the lookout for more intervention by officials.