Public Markets 24 Hours

Last updated: August 21, 2026, 12:49 AM ET

Equities & Stocks

U.S. stocks fell on Thursday as oil prices and benchmark bond yields rose, while disappointing earnings from Walmart pressured shares of the retail giant and peers. Deere & Co. shares jumped after the tractor maker said it is seeing a boost in orders for its machinery, raising hopes that the agriculture sector is poised for recovery. Pop Mart shares fell the most in nearly five months after the Labubu toymaker warned it will likely miss its 2026 sales-growth target. JD Sports shares in the UK dropped 15% after the latest setback in its U.S. business. Novonesis led Europe’s Stoxx 600 after posting organic sales growth ahead of consensus estimates. European stocks extended their worst losing streak in three years, with miners and oil stocks weighing heavily. Nikkei gained 0.6% as Wall Street climbed overnight, while Asian stocks were set to fall as bond yields climbed. FTSE 100 was poised to outperform Europe on energy drag, while Meta shares remained under pressure due to concerns about AI spending and a ongoing trial. Alibaba posted weaker earnings amid heavy AI investments, and Moderna saw its stock lift 177% as its shift to cancer treatments gained traction. Ross Stores boosted its outlook on growing demand for off-price retail, while Starbucks laid off more than 200 workers in a streamlining drive. Inghams shares dropped 11% on cost outlook concerns, and Japan Real Estate investment was set to hit a record for the second straight year.

Fixed Income & Bonds

U.S. Treasury yields remained elevated as bond markets stayed volatile, with investors assessing whether the recent rally in Treasuries had truly faded. US 30-Year Bonds reversed gains from the Treasury’s buyback surprise, showing the move did little to counter angst about surging government debt. Treasury Buybacks may only briefly tame yields, as market relief proved short-lived amid concerns over high levels of debt and government spending. Australian Bond Futures positions rose toward an all-time high as the nation’s growing debt pile fueled demand for hedging. India Bonds sold off after surprisingly hawkish RBI minutes, with traders bracing for further yield increases. EM Currencies were mixed as the US Treasury’s bond buyback lift proved short-lived. AT1 Bonds defied volatility in turbulent bond markets, emerging as some of the most stable structures despite their risk profile. Vylor raised $1.1 billion in a pre-spinoff bond sale to help finance a payout to soon-to-be former parent Corteva. Thales sold a €1 billion bond to help fund its acquisition of maritime robotics firm Exail Technologies. Manulife CQS touted double-digit SRT returns in a $1 billion pitch for its new fund. Aegon maintained its steepener bet despite US bond-buying moves, betting that the gap between short- and long-term borrowing costs will continue to widen.

Commodities & Energy

Oil futures fell on a likely technical correction after rising for a fifth consecutive session, while oil prices rose for a fifth straight session as the U.S. planned economic isolation measures on Iran. Copper held above $14,000 a ton in the aftermath of the US Treasury’s surprise intervention to rein in borrowing costs. Raw sugar climbed to the highest in over a year on signs of buying interest in India amid prospects of easing import duties. Aluminum premiums slipped as the US signaled plans to cut tariffs on certain Canadian exports. Panama Canal announced it would cut daily transits as El Niño grips the region, only the second time such a reduction has been planned.

Foreign Exchange & Currencies

The Singapore dollar strengthened slightly against the U.S. dollar as traders questioned the efficacy of Treasury Secretary Bessent’s plans. The dollar was seen paying the price for Treasury bids to tame yields, with some investors warning the currency would ultimately bear the cost. Citi turned negative on the dollar, citing buyback risk and a less hawkish Federal Reserve. The dollar looked best as a defensive currency during bond and equity selloffs, according to BNY.

Deals & M&A

James Hardie sold its European Fermacell business to Holcim for $980 million as it seeks to focus on higher-growth markets. Holcim acquired part of James Hardie’s European business for €840 million ($981 million), expanding its building and sustainable flooring offerings. Danone received UK competition clearance for its $1.2 billion Huel deal. CapitaLand and IOI Properties neared a deal to buy Singapore’s One Raffles Place for S$2.4 billion. Stripe bought Open Router for $8 billion in an AI-focused bet. BlackSun raised $1 billion for its inaugural sports and media fund. PGIM planned to buy $3 billion of Green Sky home improvement loans. Anthropic added Citigroup to its IPO banking team. Broadcom sought more than $60 billion in debt for an AI chip financing deal benefiting Anthropic.

Markets Wrap

U.S. stocks and bonds slid despite Treasury buyback plans, as mixed retail results offered more gloom on consumer health. Asian bonds declined and the dollar remained under pressure after a rally in Treasuries faded. Bessent’s Treasury twist clouded Warsh’s plea to “play the ball,” complicating the Fed’s rate strategy. Treasury demand has become materially more valuation-sensitive, according to new analysis. Treasury buybacks signaled to exceed $4 billion, according to Bessent. Stock investors continued to favor stocks despite high bond yields, brushing off warnings from bond veterans. Scott Bessent stepped in as America’s bond trader-in-chief, with US debt soaring. Big Brother Bessent was watching yields with yield-curve-control tactics gaining traction.

Corporate News

Ross Stores raised its annual profit outlook for a second time this year, signaling that discount-retail momentum is holding up. TAMKO reported a more than 50% drop in earnings just weeks after borrowing to fund a dividend to owners. FinThrive saw earnings fall 17% in Q2 as it drew on a $150 million credit line. Ping An reported a 36% profit rise in the first half as China’s stock-market rally bolstered returns. Lintec shares fell to a three-month low after its largest shareholder announced plans to dispose its stake. SpiceJet wrangled a last-minute reprieve amid intensifying food safety crackdowns. Hovnanian swung to a third-quarter loss as it copes with a stagnant housing market. Deere posted higher profit and sales in its fiscal third quarter. Walmart used nearly $2.9 billion in tariff refunds to deliver price cuts to consumers. Target had a rarely discouraging earnings call, with executives expressing cautious optimism. Super Micro cleared senior management in an alleged smuggling scheme involving Nvidia chips. SpaceX was racking up wins in Washington with lucrative contracts and regulatory relief.

Geopolitics & Policy

Trump’s threats of economic measures against Iran’s trading partners put focus on global supply chains. Iran and the U.S. settled into an uneasy standoff with no diplomatic progress but no full-scale fighting. Russia intensified missile attacks on Kyiv as Ukraine’s defenses dwindled, worsening the civilian death toll. North Korea fired a barrage of ballistic missiles, prompting Trump to threaten “economic D-Day.” Ukraine claimed it hit a major Russian refinery and small oil terminal, worsening fuel shortages inside Russia. China bought millions of barrels of Saudi crude in a rare tender, though overall purchases remained below pre-war levels. Venezuela oil deals with the U.S. remained shrouded in secrecy as companies signed contracts under uncertain rules. Evergrande creditors faced a more complex path to recover funds after the founder was sentenced to life in prison. Evergrande founder Hui Ka Yan was sentenced to life in prison, capping the downfall of a property empire.

Crypto & Tech

Bitcoin extended gains to beyond $72,000 after a record short squeeze, but signs of fresh leveraged longs remained limited. Crypto stocks continued to surge after an upbeat White House meeting, as Trump reaffirmed support for the Clarity Act. CFTC head said crypto will get rules one way or another, even if Congress fails to pass landmark legislation. Two Binance employees were detained in the UAE amid legal pressure, signaling growing scrutiny of the crypto exchange. Nvidia looked well placed to benefit from the next stage of the AI boom, using its balance sheet to seed new markets. AI borrowing by tech giants was pushing up bond yields as investors priced in sustained rate elevation. KKR Data Center chief vaulted to prominence with a $500 billion Nvidia pact to finance AI chips. Hyperscalers’ off-grid power push came with risks as data centers tested off-grid systems.

IPOs & Fundraising

Orion180 filed for a U.S. IPO to expand its share of the specialty homeowners and flood insurance market. Kakao Mobility eyed a U.S. ADR listing after SK Hynix’s blockbuster offering highlighted global appetite for Korean firms. Shein courted Boyu Capital and UBS as cornerstone investors for its Hong Kong IPO. Texas Stock Exchange prepared for the listing of PWRX, an ETF focused on AI and power demand. NSE may allow trading of its own shares on its platform after listing on rival BSE. Jakarta Futures Exchange eyed a role in a planned commodities bourse, aiming for a January 1 launch.