Public Markets 24 Hours

Last updated: August 14, 2026, 8:30 AM ET

Public Markets

Equities

The S&P 500 closed at a record high, buoyed by moderated wholesale inflation data that eased concerns about interest rates. U.S. stocks rose, with the broad market index reaching new peaks as traders pared back bets on Federal Reserve rate hikes. The positive sentiment was further reinforced by a retreat in oil prices. In other market news, Reddit shares surged more than 10% after the social networking platform was announced as an addition to the S&P 500, effective next week.

Fixed Income

U.S. sells 30-year bonds at the highest borrowing costs since 2001, driven by concerns over mounting public debt and persistent inflation. The yields have jumped amid these worries, signaling a challenging environment for long-term government borrowing. In the UK, a popular UK bond trade suggests investors are confident in Prime Minister Andy Burnham's commitment to controlling government borrowing. This confidence is reflected in market activity, indicating a degree of stability in UK sovereign debt.

Commodities

Oil prices edged lower amid mixed signals, with crude futures pulling back after several days of gains. Both the U.S. and Iran have claimed control over the Strait of Hormuz, and shipping through the waterway remains limited, contributing to market uncertainty. Meanwhile, a significant copper crunch worsens, with a key spread heading for its highest level since 2021. Spot copper prices are surging above later-dated futures on the London Metal Exchange, a condition known as backwardation that signals a deepening squeeze on supply.

Currencies

The yen consolidates against other G-10 and Asian currencies, with prospects of a Bank of Japan rate hike potentially offering support. Speculative investors are increasingly betting that the Reserve Bank of Australia will raise interest rates again in November, as inflation remains above the central bank's target. The yen strengthened amid growing speculation that the Bank of Japan may increase interest rates a move that could impact currency markets broadly.

Deals and M&A

Providence Equity Partners has agreed to acquire property valuation service Hometrack, a move seen as a bet on the digitization of the mortgage lending process. In the technology sector, Workday Inc. shares jumped on news that private equity firm Silver Lake is in talks to purchase the software provider. Charter Communications has received final regulatory approval from California for its $21.9 billion deal to acquire Cox Communications, following concessions on affordability.

Company News

Applied Materials reported higher profit and revenue, driven by continued demand for its semiconductor solutions fueled by artificial intelligence adoption. In the automotive sector, Jaguar Land Rover owner's shares slipped after profits tumbled, with the finance chief describing the times as "simultaneously both difficult and exciting." Tyson Foods announced it will close several additional beef plants due to a prolonged U.S. cattle shortage, a restructuring sign for the U.S. beefpacking industry.

Economic Outlook

Indonesia’s state budget for next year is poised to benefit miners, electric vehicle manufacturers, and battery producers, according to analysts. President Prabowo Subianto's initiatives are expected to drive these gains. Meanwhile, Slovakia's industrial sector is losing competitiveness, with productivity stagnating and labor costs rising significantly faster than the EU average, according to the country's central bank. The Indonesian government plans to establish a new commodity exchange to exert more influence on world commodity prices.

Market Talk

In the technology sector, companies are spending big on quantum computing programs to gain a competitive edge and prepare for future encryption threats, signaling a significant investment trend. Airtel Africa Plc is considering listing its mobile payments arm in London, with the possibility of trading in U.S. dollars. In the energy sector, oil spills expose a growing environmental toll as producers continue to move crude oil during the ongoing conflict.

Global Markets

Emerging-market stocks and currencies gained as a retreat in a key U.S. inflation measure strengthened hopes that the Federal Reserve might not need to raise interest rates soon. Asian stocks were poised to extend gains, with further evidence of moderating U.S. inflation and a pullback in oil prices reinforcing bets that the Federal Reserve will refrain from raising interest rates. European equities are showing a strong rally, with the Stoxx 600 index reaching record levels.

Regulatory and Legal

Kalshi was ordered by a judge to cease offering most of its prediction market contracts in Washington state, as regulators argued they likely constituted an illegal gambling operation. The Securities and Exchange Commission canceled a meeting where it was expected to unveil new plans for digital assets, marking another setback for the crypto industry as landmark legislation remains stalled. BAE Systems was fined $36 million for illegal exports, highlighting ongoing enforcement actions in international trade.

Geopolitics and Markets

Oil prices held a decline as traders monitored efforts toward a deal that could reopen the Strait of Hormuz, while ongoing attacks on tankers and energy infrastructure kept the market on edge. The yen is consolidating, potentially buoyed by prospects of a Bank of Japan rate hike, as traders weigh the central bank's next move. A drone strike sparked a fire at Russia’s Baltic port of Ust-Luga, a key gateway for energy and commodity exports, as Ukraine intensifies its campaign against the country's port infrastructure.

Investment Trends

The artificial intelligence boom continues to drive demand for semiconductor solutions, with companies like Applied Materials reporting increased profits and revenue. Investors in Anthropic are anticipating an initial public offering at a valuation of $2 trillion or more in October. The growing demand for AI is also impacting credit markets, with hyperscalers issuing debt in various currencies, including Canadian dollars, Swiss francs, and sterling.