Public Markets 24 Hours

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

US Equities and Markets

US stocks showed resilience, with the S&P 500 closing at a record high, buoyed by moderating wholesale inflation data that eased concerns about interest rates. The S&P 500 gained, while other market indicators also reflected optimism. Investors are closely watching for further signals on Federal Reserve policy, with some anticipating a hold on rate hikes. This positive sentiment followed earlier gains driven by strong earnings and a general market momentum. However, some sectors experienced pullbacks, with Coach owner Tapestry tumbling despite broader market strength. Reddit Inc. shares surged more than 10% after hours following the announcement of its upcoming inclusion in the S&P 500 index. Workday Inc. shares also jumped on news of potential buyout talks with private equity firm Silver Lake.

Treasuries and Fixed Income

Treasury yields experienced a notable shift, with the US two-year yield extending its decline for a third consecutive week. This movement was largely attributed to soft July retail sales data, which further diminished expectations for imminent Federal Reserve interest-rate hikes. The US 30-year bond yields reached their highest borrowing costs since 2001, reflecting concerns over mounting public debt and persistent inflation. Bond traders are navigating a complex market environment where geopolitical risk and inflation are increasingly influencing fixed-income markets over traditional indicators like US economic growth. The market is also seeing a notable increase in speculative bets on a November RBA hike as inflation remains elevated.

Commodities and Energy

Oil futures experienced mixed trading, with little significant movement as the market awaits further developments regarding the dispute over control of the Strait of Hormuz. U.S. natural gas futures saw a retreat after an inventory build that exceeded expectations, despite hot weather increasing electricity demand. The energy sector is also seeing renewed interest in Venezuela, with BP joining other major oil companies in a return to the country's post-Maduro energy landscape. BP has partnered with XRG on a Venezuelan offshore gas development, securing an exploration and production license that could grant access to an estimated 4 trillion cubic feet of recoverable gas. Meanwhile, white sugar futures headed for a third consecutive weekly gain, pushing refining margins to their highest levels in two years due to supply tightness.

International Markets and Currencies

The dollar fell to its lowest point since May following an unexpectedly weak report on US retail sales, which diminished expectations for a Federal Reserve interest-rate hike. This weakening dollar contributed to a broad emerging-market rally, with emerging-market stocks and currencies extending their gains. Brazil's assets have seen some of the world's largest losses this week amid growing anxiety over the upcoming presidential election. The yen's decline has proven difficult to halt, with the currency remaining undervalued on many metrics despite potential intervention. Carry traders are reportedly exploiting yen interventions to rebuild short positions, suggesting that each attempt to prop up the currency also creates an opportunity to sell it. Kenya plans to raise $815 million in a eurobond sale by the end of December to finance its budget deficit.

Corporate News and Deals

Braskem SA reported better-than-expected second-quarter results, benefiting from supply disruptions related to the Persian Gulf and Asia. The petrochemicals producer is also optimistic about talks with creditors as it seeks to restructure its finances. In the UK, British American Tobacco's newest director purchased shares amid market concerns, though the group warned of disappointing full-year profit growth. Carlyle Group Inc. and CVC Capital Partners Plc are exploring a joint takeover of security systems provider Bauwatch. Separately, Carlyle Group Inc.-backed Quest Global Services Pte has hired banks for an initial public offering in Mumbai that could raise as much as $1 billion. In the automotive sector, Jaguar Land Rover's owner saw its shares slip after profits tumbled, with the finance chief describing the times as "simultaneously both difficult and exciting."

Technology and AI

Investment gains at Amazon and Alphabet have highlighted the increasingly interconnected fortunes of technology companies, with their profits showing a circular nature of the AI boom. The drive for AI is leading to significant investment in quantum computing, with many companies pouring millions into these programs to gain a competitive edge and prepare for future encryption threats. In China, AI is driving tech valuations to multiples higher than their US counterparts, supported by government backing. OpenAI and Anthropic have slashed AI prices amidst pressure from Chinese rivals, releasing cheaper models to maintain their market position. Convenience store stocks are experiencing a surge in investor demand as a defensive play amid concerns over the sustainability of the AI boom and ongoing conflicts.

Regulatory and Legal Matters

Luigi Mangione's guilty plea in a federal case could complicate New York State prosecutors' efforts to try their own case against him. A judge has dismissed the Trump administration's lawsuit against Harvard, finding that the incidents of antisemitism on campus were "isolated and episodic." In a separate development, the Securities and Exchange Commission has canceled a meeting where new plans for digital assets were expected, marking another setback for the crypto industry as landmark legislation remains stalled. The rollout of New York City's pied-à-terre tax can proceed for now after an appeals court temporarily blocked a lower court's order. Kalshi has been ordered by a judge to cease offering most of its prediction market contracts in Washington state, as regulators said they likely constituted an illegal gambling operation.

Transportation and Infrastructure

A second UK train has derailed in less than 24 hours, following an incident in East Sussex. Services were disrupted after three carriages on a London to Eastbourne route flipped onto their side. In aerospace, Airbus SE discovered hydraulic system faults on an Air India Ltd. jet that experienced a significant drop in mid-flight, according to a preliminary assessment. The plane maker is also facing scrutiny over system faults on a Ryanair flight that experienced a window blowout, with the NTSB discovering bird remains in the engine. Extreme heat waves continue to impact Europe, straining transportation systems as railways and roads, "engineered for a climate that no longer exists," struggle to cope.

Geopolitical and Economic Trends

Europe is grappling with persistent heat waves and wildfires that are pushing infrastructure to its limits and testing the continent's resilience. The ongoing conflict in the Middle East is contributing to rising mortgage costs for borrowers in America and several European economies. Russia faces potential fuel shortages in several regions due to Ukraine's continued attacks on oil refineries. The Taliban's rule in Afghanistan has seen women systematically erased from public life, with decrees restricting their rights potentially causing permanent damage to the country. Meanwhile, the US government is reportedly considering allowing American companies to aim cyberattacks at cybercriminals, a move that would align the United States with countries like China and Russia.

Other Market Developments

Gold settled up 0.4% on Friday, and silver rose 0.2%, with both metals posting gains for the week. Comex Gold ended the week 0.91% higher at $4380.40. In the realm of art, Italian police recovered stolen works by Cézanne, Renoir, and Matisse, valued at over $10 million, five months after a heist near Parma. In Brazil, the bond market is showing signs of recovery after the election of a market-friendly government, boosting investor demand for local assets. The UK's gilt markets suggest investors are confident that Prime Minister Andy Burnham will adhere to his pledge to control government borrowing.

Emerging Markets and Development

Indonesia's state budget for 2027 is poised to benefit miners, electric vehicle manufacturers, and battery producers, driven by President Prabowo Subianto's initiatives. Prabowo also plans to establish a new commodity exchange to exert greater influence on world commodity prices. Vietnam's state investment arm plans a broad divestment of dozens of companies over the next four years, aiming to free up capital and increase tradable shares as the country prepares for its eventual upgrade by FTSE. African local-currency debt is outperforming emerging-market peers due to high yields and economic reforms. In Colombia, the local corporate bond market is rebounding, spurred by the election of a market-friendly government. Zambia's Electoral Commission has suspended the counting and announcement of election results due to reports of violence.