Public Markets 24 Hours

Last updated: August 14, 2026, 2:30 AM ET

Global Equities

Global stock markets are poised for gains, with Asian stocks extending their rally on Friday. This optimism is fueled by moderating US inflation data, which has bolstered expectations that the Federal Reserve may hold interest rates steady. The S&P 500 closed at a record high, driven by AI enthusiasm and receding rate-hike concerns. European equities have also mirrored US exuberance, with FTSE 100 futures indicating a rise.

US Markets

U.S. stocks climbed, with the S&P 500 hitting a new record high. This surge was largely a reaction to a report indicating moderated wholesale inflation, which has eased concerns about potential interest rate hikes. The market is now anticipating the Federal Reserve will hold rates steady in the upcoming meeting. In other news, Reddit shares surge on the news of its inclusion in the S&P 500.

Fixed Income

U.S. 30-year bonds are being sold at the highest borrowing costs since 2001, reflecting investor demand for compensation to finance the nation's growing deficit. Yields have jumped amid concerns over mounting public debt and persistently high inflation. Meanwhile, bond traders are reducing their bets on Federal Reserve rate hikes as oil prices retreat, reinforcing positive sentiment on the inflation outlook.

Commodities

Oil prices edged lower amid mixed signals, following days of gains. Traders are monitoring efforts toward a deal that could reopen the Strait of Hormuz, while continued attacks on tankers and energy infrastructure keep the market on edge. Russian diesel exports have dropped to a fresh multiyear low in early August as Moscow restricted fuel exports due to attacks on the country's refineries.

Currencies

The yen consolidates, potentially buoyed by prospects of a Bank of Japan rate hike. However, supporting the yen will require more than government intervention and will necessitate hawkish signals from the central bank. Carry traders are exploiting yen interventions to rebuild short positions, with each intervention creating a fresh opportunity to sell the currency.

Emerging Markets

Emerging-market stocks and currencies are gaining as a retreat in a key US inflation measure strengthens hopes that the Federal Reserve may not need to raise interest rates soon. African local-currency debt is outperforming emerging-market peers, driven by high yields and economic reforms that are boosting investor appetite for government securities.

Technology and AI

The artificial intelligence boom continues to drive demand for semiconductor solutions, with companies like Applied Materials reporting higher profits and revenues. The AI frenzy is also boosting Chinese tech valuations, with the Star 50 index gaining 29% this year. Investors are increasingly looking at AI "enablers," such as infrastructure providers, as a sweet spot for returns, given the high demand for AI technology.

Corporate News

Tyson Foods Inc. announced it will close several additional beef plants, signaling a restructuring of the US beefpacking industry due to a prolonged US cattle shortage, with domestic supplies at their lowest level in 75 years. In other corporate news, Workday Inc. shares jumped on reports that Silver Lake is in talks to purchase the software provider.

Deals and M&A

Diversified Energy Co. is in advanced talks to acquire Elliott Investment Management-backed Birch Resources for over $1.7 billion in cash. Meanwhile, Charter Communications has received final regulatory approval from California for its $21.9 billion deal with Cox, following concessions on affordability.

Geopolitics and Energy

Several regions of Russia are facing fuel shortages again after Ukraine resumed almost daily attacks on oil refineries. This has led to a drop in Russian diesel exports to a fresh multiyear low. Middle Eastern crude shipments are arriving at US ports, offering some respite to a market squeezed by wartime demand for American exports.

Financial Services

JPMorgan Chase has ended its banking relationship with prediction market platform Polymarket due to regulatory concerns, despite continuing to cultivate ties with the platform as it seeks a $20 billion valuation. The largest US bank's move highlights the increasing scrutiny on such platforms.

Regulatory and Legal

Kalshi has been ordered by a judge to stop offering most of its prediction market contracts in Washington state, following regulators' assertions that they likely constituted an illegal gambling operation. Separately, the SEC has canceled a meeting where new plans for digital assets were expected, marking another setback for the crypto industry as landmark legislation remains stalled.

Economic Indicators

New Zealand's annual immigration figures show a tentative recovery, rising to a 17-month high in June as fewer people departed the country. This indicates a potential shift in migration patterns.

Cryptocurrency

The Securities and Exchange Commission has postponed a meeting that was expected to unveil new plans for digital assets, a move that further stalls landmark crypto legislation in Congress. This delay adds to the ongoing uncertainty surrounding regulatory frameworks for the digital asset space.

Auto and Transportation

Chinese car exports are surging as domestic demand slumps, testing the shipping industry's capacity. There is a shortage of ships available to handle the volume of vehicles being exported.

Aerospace and Defense

The U.S. government is reportedly considering allowing American tech companies to conduct offensive cyber operations against cybercriminals, a move that would align the U.S. more closely with nations like China and Russia. This strategy echoes historical practices of employing civilians for national security missions.

Energy and Utilities

The U.S. natural gas futures have retreated following an above-estimate weekly inventory build, extending the storage surplus. Despite hot weather spurring high electricity demand, the overall inventory levels remain elevated.

Healthcare

The Justice Department has reported that inmates at two state-run women's prisons in California routinely had their rights violated, with state officials indicating reforms are already in place. Separately, three ICE detainees have died, raising questions about the quality of medical care provided.

Retail

Mike Ashley, the high-street billionaire, is expanding into the luxury sector with the acquisition of Harvey Nichols, signaling a shift in strategy for Frasers Group. The company claims it has moved on from its discounting practices as it makes this move into high-end retail.

Real Estate

New York City's pied-à-terre tax can proceed for now, as an appeals court has temporarily lifted a hold on the plan. This tax, aimed at high-value secondary residences, is a significant development for the city's property market.

Legal and Litigation

A judge has dismissed the Trump administration's antisemitism case against Harvard University, stating that the incidents were "isolated and episodic." This ruling concludes a legal battle that questioned the university's response to antisemitism during campus protests.

International Relations

Taiwan has urged its citizens to postpone travel to Uganda due to a series of passport disputes, highlighting growing pressure on Taiwan's international presence in Africa. This situation underscores the complex diplomatic landscape the island nation navigates.

Labor and Employment

The U.S. government has reportedly conducted expansive surveillance, including infiltrating group chats and obtaining financial records, of left-leaning organizations in Minnesota during an immigration crackdown, even though these groups were never accused of crimes. This raises concerns about government overreach and privacy.

Politics

Nigel Farage, the leader of Reform U.K., has won the parliamentary by-election in Clacton, as widely expected. His main rival, Count Binface, came in second place.

Social Issues

Afghans are facing difficulties in moving on from past animosities due to Western policies, and a new generation desires to progress. Meanwhile, in Afghanistan, decrees restricting women's rights to study, work, travel, and act independently are threatening to cause permanent damage to the country. Afghan women are erased from public life after 5 years of Taliban rule.

Sports

Bob Iger, the former CEO of Disney, and Josh Kushner, a venture capitalist, are in the process of acquiring ownership of the Los Angeles Lakers. Their wives reportedly introduced them, leading to the deal.

Other Markets

The market for prediction platforms is facing regulatory scrutiny, with Kalshi ordered to cease most operations in Washington state. Separately, JPMorgan Chase has ended its banking relationship with Polymarket due to regulatory concerns. Kalshi is halted in Washington state.