Public Markets 24 Hours

Last updated: August 16, 2026, 2:35 AM ET

Equities

Oil futures slipped 1.3% in early Asian trade as OPEC+ signaled output increases. Gold held steady near $2,340/oz despite a weakening dollar. S&P 500 earnings continue to blow past expectations, adding to the rosy backdrop for a stock market trading near record highs. Kospi slumped while the won strengthened, reflecting South Korea's inverse correlation between equity and currency markets. European companies flagged effects of extreme heat, drought and wildfires on a record share of earnings calls in recent weeks. US large-cap funds have underperformed indexes over the past decade, with just 13% beating benchmarks. Stock-picking funds are performing as poorly as ever, highlighting the continued dominance of passive investing strategies.

Fixed Income

JGBs extended their rally, tracking overnight Treasury gains as traders priced in a September rate cut. AI companies face $70 billion in phantom liabilities that don't appear on major balance sheets, creating shadow credit backstops that bond traders are agonizing over. Nvidia's splashy $500 billion financing partnership has intensified investor fret over these hidden risks. Texas hedge strategies that led to big losses at Situational Awareness highlight the risk-amplifying tactics popular among hedge funds betting on artificial intelligence. Malaysia's data center boom is fueling 6% growth, attracting investment into the Southeast Asian nation's emerging AI hub.

Commodities

Crude oil markets remain tight as carmakers scramble for alternative motor oil blends amid a shortage of Group III base oils. Iron ore group Ferrexpo is trying to raise cash while sanctions-hit shareholder fights to maintain his stake. Peru's economy unexpectedly slowed in June due to a slump in fishing and agriculture output amid unusual weather conditions. China's accelerated rules governing recycling and reuse of wind and solar equipment aim to establish a closed-loop system for industry waste before 2030. Motor oil shortages have prompted auto manufacturers to turn to new blends as the crisis deepens.

Currencies

Hong Kong airport passenger traffic jumped 11.7% on year in the first half, as the Asian financial hub attracted more visitors. Singapore is leveraging AI access to retain finance high-flyers from moving to Hong Kong, with close relations with both US and China ensuring easy access to the latest AI models. Won strengthened against regional peers as Kospi shares declined. Canadian relations with the US hit a historic low as a petition to expel US Ambassador Pete Hoekstra gathered over 170,000 signatures. Euro zone policymakers remain cautious on cannabis liberalization despite American market expansion.

Deal Activity

Harvey Nichols deal hints at department stores' hidden potential, with services offering young shoppers a reason to return. Lakers set a record $12.5 billion sale, eclipsing the $10 billion paid for the franchise just last year. Sports team sale prices keep hitting new highs across major leagues. Ford and GM are locked in a new battle over who's the most American carmaker, sparring over favorable tariffs on imports and batteries. Labour's rental reforms disrupt the student market and lengthen lettings processes as the Renters' Rights Act locks international students out of housing.

Economic Data

China's July economic data release timing was revised to 3 p.m. Monday, breaking with recent practice. Inflation markets remain above target, confirming we're not at target yet despite recent policy adjustments. Worker pay isn't keeping up with inflation once again, with wages failing to keep pace as prices spiked in 2021-22 and the pattern repeats. UK housebuilders see profits set to fall 12% as a relentless grind drags on, with developers resorting to bulk sales to shift homes in a sluggish market. European companies continue weighing heatwave costs and gains as extreme weather events impact operations.

Asia-Pacific

Xi Jinping urged a shift to prevention in disaster management, calling for safety and resilience to be integrated into planning and development. China Film sales soared as online scorn attracted curious viewers, with a Chinese animated film that generated only about $1,000 in ticket sales becoming a social-media sensation. Cambridge faces hard questions on race and hiring after the death of Jason Arday, the school's youngest Black professor. Indonesia suffered at least 47 deaths as a 7.7-magnitude earthquake rocked the region, one of the strongest tremors experienced in decades. Hawaii remembers Hurricane Iniki, which devastated Kauai causing at least seven deaths and $1.8 billion in damage.

Geopolitics

Israeli strikes in Lebanon killed at least 11 people, with children among those killed according to Lebanese health officials. Hezbollah was accused by Israel of striking first, injuring three Israeli soldiers. Iran claimed it captured three Qatari pilots months ago, a claim Qatar rejects. Qatar denies detaining any Iranian pilots despite Tehran's assertions. Trump trial proceedings examined a fund-raising firm co-owned by Judge Juan Merchan's daughter, who conducted the trial leading to Donald Trump's felony conviction. US Attorney in Chicago subpoenaed records from the firm as part of ongoing investigations. Central Synagogue attack rattled Jewish New Yorkers after a man struck a congregant at the prominent Upper East Side synagogue. Sherrod Brown seeks a Senate comeback in Ohio at age, hoping his populist pitch still resonates with voters. Democrats made South Carolina the first contest in the 2028 presidential primary calendar, pushing back Iowa and New Hampshire. Republicans are taking steps to make healthcare less affordable, driving costs skyward. Border infrastructure moves into Big Bend National Park over environmental objections, advancing despite local resistance. Belgium heat deaths serve as a warning to the rest of Europe, exposing lethal lack of readiness for extreme temperatures.

Technology & Innovation

BlackBerry has transformed from phone dinosaur to tech champion, with its future resting on car and security software a decade after handsets disappeared. Big manufacturers find new demand in equipping AI data centers, with companies like Caterpillar and Cummins pivoting to feed the booming market. 3-D printers offer DIY solutions for broken doodads, creating replacement parts easier and cheaper than buying new household items. Oura joins Google, Apple and Samsung in the cutthroat wearables battle that goes beyond fitness tracking. Oura ring competes with tech giants integrating wearable data into healthcare systems. AI access becomes a key tool for Singapore to retain finance talent amid competition from Hong Kong. Data centers drive Malaysia's 6% growth as the nation emerges as a key AI hub. Flock cameras spark protests as America's Luddite summer grows, reflecting fears about the new tech era. David Ellison pursues his plan to move Hollywood to Nashville, chasing the dream of a red-state entertainment hub. YouTube show in Iran poses questions few dare ask, tackling topics that push limits of the authoritarian system. Matthew Rhys earned two Emmy nominations for his work, though wobbly self-esteem remains a personal challenge. Quit lit explores why readers abandon books too soon, examining our attenuated attention spans. Cyclospora evaded the US food safety system to sicken thousands, with delayed rules hampering source identification efforts. Teacher hero steps up amid benefit cuts, showing ordinary people helping struggling Americans. American weed faces European hesitation as the race to go global intensifies. Online harassment followed women joining protests in India, exposing added risks for activists in patriarchal societies. African pastor fills priest shortage in rural Italy, with immigrants easing labor gaps in churches and farms alike. Call sign mix-up near Phoenix could have been disastrous when two planes shared the same flight number. Air traffic controller acted quickly to avoid confusion between departing and landing aircraft. News Quiz for August 15, 2026 summarizes key business developments of the week.