Public Markets 24 Hours

Last updated: August 13, 2026, 8:36 AM ET

Equity Markets

U.S. stock futures edged higher after subdued inflation data reinforced bets that the Fed will hold rates, though stocks were ultimately mixed as deadlock in the Middle East offset benign consumer-inflation data and AI earnings bonanzas. The S&P 500 received a fresh Street-high target of 8,400 from Ed Yardeni, who cited "fabulous earnings momentum." European indexes were mostly higher, boosted by financials and technology, though London's FTSE 100 was dragged down by miners after a production guidance cut from Antofagasta. The Stoxx 600 gained ground driven by AI-related stocks, even as the region's overall tech exposure remains low. The UK economy unexpectedly grew in June, helping the FTSE 100 join the global rally.

Asian markets saw a dramatic turnaround, with Korean stocks surging 22% in 10 days to enter a technical bull market as the global AI trade reignited. The Kospi drove emerging-market equities higher on Thursday. Japan's market dynamics are no sideshow for U.S. markets, as persistent producer price gains keep cost pressure on companies while the BOJ mulls its rate path. Lenovo shares jumped to a new record, surging 19% on a revenue beat driven by robust AI hardware demand, with the company targeting $100 billion in revenue this fiscal year. SMIC posted an earnings beat as orders for mature-node semiconductors surged, more than tripling net profit. JD.com beat profit and revenue estimates as losses at its food-delivery business narrowed. Tata Motors missed profit estimates, stung by weakness at its Jaguar Land Rover luxury unit despite strong India sales. CK Hutchison saw profit jump sharply on hefty gains from recent asset disposals. ASX Ltd. shares posted their best day in six years after an upbeat listings outlook. ANZ profit climbed on deposit growth and expansion in business lending. Origin Energy shares rose the most in six months, beating estimates on EV and home battery uptake.

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, while a $42 billion auction of 10-year Treasuries resulted in the highest yield since 2007. Treasury yields and the dollar partially recovered from morning declines after the inflation data. TIPS are on sale and look like a bargain for the near term. Big Tech debt sales are inadvertently triggering a rise in risk metrics for some of the world's safest firms without AI links. Cerebras swung to a second-quarter loss of $450.5 million but still lifted its full-year outlook. QTS, a data-center operator, is holding investor calls ahead of a potential $2.85 billion bond offering. Air Baltic bonds slumped into deeply distressed levels after the airline announced a debt-for-equity swap plan. Emerging-market company bonds have beaten U.S. peers as the average borrowing cost of emerging-market firms fell to the lowest relative to US corporates since January.

Currencies & Commodities

The yen remains near the crucial 160 level against the dollar, despite government support for a BOJ rate hike, keeping traders on intervention watch. Gold prices eased after rising, as U.S. inflation data reinforced bets the Fed will hold rates in September. Precious metals climbed on tame July inflation, with gold settling 0.6% higher for a fourth consecutive session and silver rising 1.2%. Gold wavered near $4,400 an ounce as tame inflation eased rate-hike bets.

Oil futures ended little changed in cautious trading as Strait of Hormuz talks appeared at a standstill. Oil fell amid a weaker demand outlook and stalled Hormuz talks, while U.S. crude stockpiles posted an unexpected build of 17.4 million barrels. OPEC again cut its forecast for global oil-demand growth as Hormuz talks stalled. Russian diesel exports dropped to a fresh multiyear low in early August as drone attacks hit refineries, while Russia's crude production lagged behind its OPEC+ quota by almost a million barrels a day in July. Black Sea oil tanker rates surged to a record after a flurry of drone attacks. U.S. fuel prices have never been this expensive this late in the year, and costs at the pump are unlikely to come down significantly until a lasting deal with Iran is struck. Aluminum fell for a second day after a Middle East smelter plans to restore production earlier than expected. Erbium, a niche rare earth used widely in infrastructure, jumped in price on fears of renewed Chinese export controls. The USDA made a surprise cut to corn yield projections, now at 180.7 bushels an acre. U.S. natural gas futures rose on hotter weather forecasts.

M&A, Private Equity & Corporate Deals

Accelerant, a data-driven risk exchange, agreed to go private in a $4.4 billion deal with private-equity firm Thoma Bravo. Investors are betting Anthropic could reach a $2 trillion valuation in what might be the largest IPO in history, while wealth managers are wooing staff at OpenAI and Anthropic ahead of expected IPO windfalls. ZUS Coffee is exploring a Malaysia IPO to raise at least $245 million. Shein is said to consider August 28 for its Hong Kong trading debut. Minor International, Thailand's biggest hotel operator, postponed plans for a $1 billion REIT as market conditions soured. Germany has asked for non-binding offers for nationalized energy company Uniper by September 21.

Nelson Peltz of Trian Fund Management is preparing a bid for U.S. burger chain Wendy’s. Paramount has discussed creating an editorial board to ensure CNN’s independence. DWS Group is partnering with life insurance consolidator Frankfurter Leben to access the industry's capital pools. Mark Walter's insurers are rushing to unwind affiliated investments as prosecutors scrutinize the books. Walter sold the Lakers and is seeking cash to pay down loans amid a DOJ probe. Northern Star Resources, Australia's largest gold miner, rejected activist Elliott Investment Management's calls to overhaul the board.

Earnings Highlights

Adyen shares rose over 9% after first-half earnings increased, and soared by the most in more than a year after acquisitions boosted its sales outlook. Tapestry said its Coach brand led sales growth for another quarter, while giving a soft outlook. Cisco reported a sharp jump in profit as AI orders rolled in, with management noting customers fear falling behind. Brinker International guided for another year of profitable growth as its Chili's chain continues to attract value-seeking diners. Hapag-Lloyd earnings recovered on strong Asia exports and better U.S. demand. Maersk raised its guidance on higher earnings and increased visibility, while its CEO called for an investment push to ease trade strains. Orsted said all projects are on schedule after impairments hit profit. Treasury Wine Estates shares jumped as signs of growth in the China market outweighed a steep drop in full-year earnings. CSN, a Brazilian steelmaker, reported a 10th consecutive loss as it grapples with stifling debt. StubHub failed to turn a profit despite surging World Cup revenue as costs climbed. Thyssenkrupp raised the low end of its full-year profit guidance on strength at its steel and naval divisions. Antofagasta posted higher earnings but cut production guidance after heavy rain in Chile.

Financial Services & Infrastructure

Goldman Sachs is doubling down on investor hunger for "boomer candy" ETFs that use derivatives for stocklike returns with limited downside. Lambda Inc., an AI cloud provider backed by Nvidia, wrapped up a $926 million leveraged-loan deal for chip financing. The SEC denied Egan-Jones Ratings Co.'s application to re-enter the government debt and ABS ratings market. Sri Lanka is reducing reliance on foreign debt while raising more money domestically through longer-term bonds. Nigeria's central bank widened access to Open Market Operations to all eligible investors. South Korea raised its cap on household debt growth and pledged more homes in the Greater Seoul area. Australia's housing market jitters are gripping banks, with a fall in home prices making financial conditions more restrictive. New York City's five pensions gained 13% on surging U.S. stocks. Deutsche Finance Group faces insolvency for a fund tied to a Boston life science investment.

Trade, Geopolitics & Macroeconomics

Mexico is pressing the U.S. to cut auto tariffs, with a counteroffer that would apply levies on only a small portion of a car's value. Tariff refunds are turbocharging earnings for Apple, Nike and FedEx. Trump's tariff regime undermines the income the U.S. receives from deploying knowledge abroad. Gulf oil giants are spending billions to build ways around the Strait of Hormuz. Russian attacks on Odesa are choking off Ukraine's grain export lifeline, while a blockade of major Ukrainian ports threatens global grain supplies. Russian ghost fleet tankers are using anti-drone nets to fend off Ukraine's maritime drone campaign. North Koreans are using stolen IDs and AI to land U.S. jobs and funnel millions to Kim's regime. Inflation eased slightly in July but prices remain elevated, with the Fed weighing a rate increase. The jobless boom has arrived, with markets optimistic but hiring not expected to follow. Consumer debt data shows overall health but persisting divides. Brazil's Congress approved measures to curb spending growth, signaling budget discipline ahead of Lula's reelection bid.

Sector Roundups & Market Talk

The trucking industry is booming again, but drivers aren't happy about it. China's coal-to-chemicals push is paying off with record profits as crude prices soared. Australia's top gold miner rejected an activist push to revamp the board. Rio Tinto got a $1.8 billion bailout for Australia's biggest aluminium smelter. North Sea oil producers are being told to speed up well closures. Greenland oil wildcatters delayed a controversial drilling plan. The EV market is a lot tougher, with drivers looking for used deals or switching to hybrids. Americans still love the roar of a V-8 engine and don't want to give it up. A premium sneaker brand throttled wholesale growth. TUI's CEO says Spain and Italy are hitting tourism capacity limits. SpaceX passed its first lockup expiry test with a $500 billion rally. Crocs debuted a new 6-foot crocodile mascot named Niles. Harrods is fighting the Al Fayed estate over hundreds of sex abuse claims. Home Depot's CEO is taking a medical leave, with the CFO and a VP stepping up. Old Mutual returned to the Zimbabwe market after six years. Coffee exports from Colombia partially resumed after a major earthquake.