Public Markets 24 Hours

Last updated: August 13, 2026, 5:35 AM ET

Equity Markets

U.S. stocks closed near all-time highs, led by the technology sector, after a subdued inflation reading helped ease interest-rate hike concerns. The S&P 500 is seeing earnings growth so strong that some investors are starting to worry. Ed Yardeni raised his view for the index to 8,400 on "fabulous earnings momentum," topping his own Street-high target. U.S. stocks were mixed as deadlock in the Middle East offset relatively benign consumer-inflation data and an artificial-intelligence earnings bonanza, with AI names rallying. Futures ticked higher as Asian markets climbed on AI enthusiasm and yields dipped. European indexes were mostly higher, boosted by financials and technology sectors, though London’s FTSE 100 was down as miners fell. European AI stocks drove Stoxx 600 gains despite the region's low tech exposure.

Asian markets saw a dramatic turnaround, with Korean stocks rising 22% in 10 days as the chip rally regained steam, marking a technical bull market. Lenovo shares jumped 19% to a new record after an AI-driven revenue boost, with the company expecting to grow revenue to $100 billion this fiscal year. Adyen shares rose more than 9% after first-half earnings increased, and the Dutch payment company soared most in a year after its first-ever acquisitions raised the net revenue growth outlook. TSMC and Sony teamed up, while China’s AI stocks swung. Foxconn reported another strong quarter as it ramped up global AI server production. Optical stocks soared as the market’s favorite momentum bet resurfaced on rising confidence in AI spending.

Australia's ASX shares jumped most in six years after an upbeat listings outlook. Origin Energy shares rose most in six months as full-year profit beat estimates. Treasury Wine shares jumped by as much as 6.4% as signs of growth in the critical China market outweighed a steep drop in full-year earnings. ANZ profit climbed in the third quarter on deposit growth and expansion in business loans. Singapore property firms CapitaLand reported improved first-half profit, signaling a recovery.

In corporate news, Cisco reported a sharp jump in profit as AI orders rolled in. Cerebras swung to a second-quarter loss of $450.5 million but lifted its full-year outlook. Maersk raised guidance on higher earnings and increased visibility, while its chief called for an investment push to ease trade strains. Hapag-Lloyd earnings recovered on strong Asia exports. CK Hutchison profit jumped sharply on a boost from asset sales. Thyssenkrupp raised the low end of its full-year profit guidance on steel and warship gains. Orsted said all projects are on schedule after impairments hit profit. Antofagasta posted higher earnings but cut production guidance after heavy rain in Chile, which also hit the FTSE. Performance Food sales and profit rose on higher prices. Brinker International forecast continued growth on Chili’s momentum. StubHub failed to turn a profit as costs outpaced revenue growth despite a World Cup surge.

Fixed Income

The U.S. government is about to sell 30-year bonds at the highest interest rate in a quarter of a century, after a historic selloff. A $42 billion auction of 10-year Treasuries resulted in the highest yield since 2007. Treasury yields and the dollar recovered partially from morning declines. The average borrowing cost of emerging-market companies fell to the lowest level since January relative to US corporates as the Hormuz closure drove diversification. Air Baltic bonds slumped further into deeply distressed levels after the airline announced a debt-for-equity swap plan.

Currencies

The yen traded near the key level of 160 per dollar, keeping investors on the lookout for intervention. Stronger-than-forecast US inflation would revive concern over higher interest rates, impacting the yen. EM currencies traded mixed as inflation failed to shift Fed bets. The rand carry trade lured investors to South African bonds at the fastest pace since January, making it the most lucrative emerging-market carry trade this month. A favorite carry trade got a dose of Brazil election jitters.

Commodities

Oil futures fell amid a weaker demand outlook and stalled Hormuz talks. Oil futures ended little changed in cautious trading with the market still focused on the Strait of Hormuz. OPEC cut its oil-demand forecast again as Hormuz talks stalled. Saudi Arabia reported a million-barrel output rebound in July to OPEC. Russia’s crude-only production lagged behind its OPEC+ quota by almost a million barrels a day in July. Black Sea oil tanker rates surged to a record on a barrage of drone attacks. U.S. crude oil stockpiles posted an unexpected build of 17.4 million barrels. Americans have never paid this much for fuel so late in the year. U.S. natural gas futures rose on hotter weather outlook. Gold gained on reduced Fed rate-hike expectations, settling 0.6% higher for a fourth consecutive session. Gold wavered near $4,400 as tame inflation eased rate-hike bets. Precious metals climbed on tame July inflation, with silver rising 1.2%. Aluminum extended its fall from a seven-week high as supply fears eased. The USDA made a surprise cut to corn yield projections. China’s coal-to-chemicals push is paying off with record profits for industry leader Ningxia Baofeng Energy. Rio Tinto got a $1.8 billion bailout for Australia’s biggest aluminium smelter. Gulf oil giants are spending billions to build ways around the Strait of Hormuz. Greenland oil wildcatters delayed a controversial drilling plan. Scotland’s North Sea oil revenues dropped by 12%. North Sea oil producers have been told to speed up well closures. Colombian coffee exports partially resumed after an earthquake disrupted the vital export route.

Central Banks & Policy

The July CPI report showed inflation eased slightly but prices remain elevated as the war drags on. Benign inflation data offered a reprieve to the Fed as it weighs a rate increase. India’s inflation held within the RBI’s target band, backing a pause. Japan’s producer prices continued to rise at an elevated pace in July as the BOJ mulls its rate path. The Nigerian central bank widened access to open market operations. Brazil’s Congress approved measures to curb spending growth in a fiscal nod from Lula. South Korea stepped up its home supply push and raised its cap on household debt growth. Prabowo picked insiders for top Indonesia central bank posts. The UK economy unexpectedly grew in June. Switzerland pushed ahead with post-Credit Suisse crackdown. Germany sought bids for nationalized energy firm Uniper. South Korea ordered new investors to take classes after a single-stock trading frenzy. The SEC denied Egan-Jones’ bid to expand its ratings business. The Treasury scaled back scrutiny of U.S. shell companies. The FAA plans antennas and communications fixes after an incident with a helicopter carrying Trump.

AI & Technology

Anthropic investors are betting on a $2 trillion valuation in a record IPO, as rapid revenue growth fuels hope the Claude maker can overcome challenges. Wealth managers are wooing OpenAI and Anthropic staff ahead of IPO windfalls. Lambda Inc., an AI cloud provider backed by Nvidia, wrapped up a $926 million leveraged-loan deal. Wall Street giants are betting Nvidia’s AI chips will defy the laws of finance, wagering the hardware will hold its value for years. Legal AI start-up Legora seeks funds at more than a $10 billion valuation. An energy startup raised $750 million for rust-powered batteries. The FTC is facing pushback from trade groups over its AI ideology focus. MEMX filed to list prediction market-style bets on earnings. New York City launched a sweeping investigation into Polymarket and Kalshi. Prediction firms are flagging insider traders, but many will not face charges.

Geopolitics & Trade

Gulf oil giants are spending billions to build ways around the Strait of Hormuz. A Russian blockade of major Ukrainian ports threatens global grain supplies. Russian ghost fleet tankers are using anti-drone nets to fend off Ukraine’s drones. Mexico pushed for lower auto tariffs in trade talks. Tariff refunds are turbocharging earnings for Apple, Nike and FedEx. The US is taxing the dark matter that pays America’s way. China is winning the race for the Ice Silk Road. A reality check is needed on Arctic shipping. The battle for control of India’s $280 billion Tata Group is underway as investors turn focus to succession. Zambia’s election is becoming a battle over the copper windfall. Modi faces pressure as Parliament is disrupted by protest fallout. Shein is said to consider an Aug. 28 Hong Kong trading debut. US press groups sued Trump over fast access to Truth Social posts. Trump is being sued over a plan to sell early access to his Truth Social posts. Paramount has discussed creating a board to ensure CNN’s independence. David Ellison floated a Hollywood exit as states threaten his Warner Bros. deal. Investor Nelson Peltz is preparing a bid for Wendy’s. Goldman Sachs is doubling down on investor hunger for ‘Boomer Candy’ ETFs. The Norway fund CEO said he’s more nervous after record returns. New York City’s five pensions gained 13% on surging US stocks. Two Sigma’s co-founder offered his wife $633 million, a lawyer said. Mark Walter’s insurers rushed to unwind affiliated investments. Walter sold the Lakers and seeks cash to pay loans amid a DOJ probe. Aston Martin showed bondholders the hard shoulder. Carvana got a balance sheet tune-up. UWM, America’s largest home lender, fell out of the hamster wheel. The bond market inflated Powerball. QTS held calls ahead of a possible $2.85 billion bond sale. Deutsche Finance Group is set to lose a Boston life science investment. Home Depot CEO will take a medical leave of absence. Carnival’s CFO is focused on restoring the company’s balance sheet. GM set a $4.5 billion supply-chain safety net. Vestas CEO said the EU prevents mergers needed to compete globally. DWS Group backed an insurer and eyes private markets mandates. Northern Star Resources spurned an Elliott push to revamp the board. Tata Group erased $4.5 billion in value as the chairman plans his exit. Harrods is fighting with the Al Fayed estate over hundreds of sex abuse claims. Forbes fired its top editor after discovering he received a secret $6 million payment. Zhu Rongji, the former premier who pushed China to a market economy, died at.