Public Markets 24 Hours

Last updated: September 7, 2026, 10:27 PM ET

Oil & Energy Markets

Oil futures extended their gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, potentially tightening Tehran’s control over the crucial waterway. Brent crude, the global benchmark, rose to about $97 a barrel on Monday, while the national average gasoline price hit $4.15 a gallon. Crude is closing in on $100 as traders warn that "something has to break" amid attacks on shipping and eroding inventories. U.S. stock futures were mixed with Treasury markets closed for the holiday, while oil prices climbed on Hormuz escalation. Asian stocks were set to edge lower as Middle East tensions pushed crude higher, adding to inflation concerns. A rebound in Chinese oil buying is driving price spikes for African, Canadian and Latin American crudes as Strait of Hormuz disruptions force refiners to seek alternatives. Saudi Aramco’s Jizan facility was hit in new strikes near the Yemeni border, as Houthi rebels campaign against Saudi Arabia. Iran announced it will raise petrol prices as war with the US triggers shortages, with authorities warning that subsidies have become unsustainable. European natural-gas prices climbed more than 2%, trading just shy of €74 a megawatt-hour as Qatar supply flows remained severely disrupted.

American drivers are feeling the pinch as gasoline prices hit a record for the Labor Day holiday weekend, reflecting more expensive crude and supply disruptions in the Middle East and Russia. American drivers were paying record Labor Day prices at the pump, and affordability fears are becoming a political issue, even in New Jersey's toss-up districts. Some drivers are turning to extreme techniques to maximize miles per gallon, the latest sign of how the Iran war has changed daily life. At the same time, high energy costs helped deliver a major German state election victory to the far-right Alternative for Germany party. The pricey oil environment is meanwhile laying groundwork for its own decline, as crude helps make clean technologies more competitive. Two major trading houses, Mercuria and Gunvor, saw profits more than double on war volatility, highlighting the bonanza created for commodity traders in the Iran conflict. Iraq is struggling to sell its Basra crude after sharply raising prices, jeopardizing its production pick-up. A Venezuela-US oil deal risks violating local law, according to a leading opposition politician and legal analysts, adding another layer of complexity to global supply relations.

Metals & Mining

Copper prices surged to a fresh record on the London Metal Exchange as mounting concerns over mine supply and the prospect of U.S. tariffs sent buyers scrambling. The metal hit an all-time high after a weeks-long rally fueled by anticipation that President Trump will expand U.S. tariffs to imports of refined metal. Copper held steady near that record in subsequent sessions, though traders weighed supply tightness risks amid quiet U.S. holiday trading. Iron ore broke above $100 a ton for the first time in seven weeks as traders unwound bets favoring coking coal. Bubbling emerging-market sentiment saw several related news: Angola plans to raise up to 208.5 billion kwanzas ($228 million) from the sale of a 34% stake in Standard Bank de Angola SA previously held by a jailed former insurance tycoon. A fund run by a Jefferies subsidiary is seeking a freezing injunction against iron ore trader Radiant World in Singapore. Malaysia’s bonds drew record inflows of $3.9 billion in August on optimism about the AI boom’s impact on the Southeast Asian economy.

Currencies & Rates

The yen touched a six-month high against the dollar, a level not seen since late February, extending a recovery that has gathered momentum over the past week. The Japanese currency strengthened to ¥154.04 per dollar, including a steep rise in the London morning session, with traders staying alert for signs of official intervention. Sterling edged higher after U.K. Treasury Chief John Healey pledged government plans to drive economic growth. China’s foreign-exchange reserves continued to climb in August, rising against a weaker dollar and a surging trade surplus, renewing concerns about yuan appreciation. In bond markets, European bonds were hit by fears of an energy shock and political risk, with spiraling gas prices accelerating the selling among major economies. The rise in German Bund yields is almost entirely due to ECB rate-hike expectations, according to Generali, rather than demand for term or inflation compensation. Meanwhile, Deutsche Bank strategist Henry Allen warns investors are underestimating the hikes needed to return inflation to target. For equity markets, a 10-year Treasury yield of 5.5% would be the breaking point for equity valuations, according to Société Générale’s Alain Bokobza.

Equities & Global Markets

European stocks were muted Monday, weighed by higher crude benchmarks and a drop in Novartis AG following the failure of a heart drug. In Asia, semiconductor stocks rose following strong gains in the United States, led by AI-exposed names, while Polish stocks have been outperforming US peers as America's improving earnings attract foreign investors. Emerging-market stocks jumped to their highest since June as AI optimism offset the drag of higher oil. Investors are embracing risk even as global bond yields climb, with stocks and credit powering ahead on rising earnings. Stock funds are up 12.6% for the year so far despite August's turbulence. Institutional investors move markets, but studying price range and volume can give individuals clues on when to buy or bail. The market's positioning suggests more rate hikes may be needed given persistent price pressures, while dollar strength will wake with Asian currencies versus the yen.

Deals, Capital Markets & IPOs

Private and public bankers were involved in a flurry of capital markets activity. Jio Platforms plans to formally kick off investor outreach for its initial public offering as early as next week, gathering momentum in what could be one of India's largest listings. Africa’s richest man Aliko Dangote is seeking to raise $1.6 billion in the continent’s biggest IPO, targeting 10 million shareholders as he floats his $49 billion refinery on the Nigerian stock exchange. The billionaire has opened up ownership of his Nigerian refinery for as little as $4 apiece, calling it an initial public offering “for the people”. Shein Global has lost roughly $5 billion in market value since its Hong Kong IPO, one of the worst opening weeks for a major listing in the city. First-day gains in India are growing larger as investors pile into newly listed stocks, signaling sustained demand for new issues. Robinhood won a new role in the Oura IPO as an underwriter, giving the app more influence over how many shares its customers receive. KKR-backed Musinsa has taken the first formal step toward a Korea IPO that could be one of the country's biggest in years, while Merdeka Battery Materials considers a Hong Kong depositary receipts sale.

Retail M&A deals spiced the landscape: Ever Bank and WaFd have agreed to combine in a reverse merger creating a regional bank with $75 billion in assets. Continuing care retirement communities are expanding to seniors’ own homes with new offerings. A Belgian-Chinese researcher was arrested over suspected theft of chip secrets, after reportedly taking a role at a tech company in China, months after joining Belgan. Deutsche Bank settled a €152 million lawsuit with former executive Dario Schiraldi, one of six bankers convicted and later acquitted over trades linked to Monte dei Paschi. A new bond has emerged: Bonds have become bonds again - the forces that have pushed yields upward are unlikely to disappear, but at least we're in the ballpark of normal again.

Deals & Corporate News

Volkswagen agreed a deal to shift its embattled Osnabrück car plant to air-defence production, with investment company Aurelius assuming majority together with the state of Lower Saxony. Next won a "landmark" judgment in UK retail’s multibillion-pound equal pay battle, with a tribunal ruling the FTSE 100 group is justified in paying warehouse workers more than predominantly female shop staff. EssilorLuxottica overhauled management following a rift with the founder’s son; CEO Francesco Milleri has reshaped the senior team at the Milan-based eyewear group. Despite a crackdown movement, Titan's jewellery chain profits surged 63% on sustained consumer demand for gold as an investment. ArcelorMittal's new green steel plant faces "no real visibility" for passing additional costs through to buyers. America's debt binge is starting to matter—if long-term rates decisively breach the 5% threshold, the impact could derail the AI boom.

Institutional & Global Lending

A slice of Cerba Healthcare’s debt is up for sale as the EQT-backed company moves toward court-supervised restructuring. South Africa is preparing to select a transaction adviser to create a fully independent transmission operator by next year. The UK Debt Management Office is considering switch auctions for long gilts, potentially taking assets off the Bank of England’s hands. China is pumping $54 billion into its banks and insurers in an expanded recapitalization plan. Russia’s uranium push could increase its share of the global fuel supply, reports warn.

Emerging & Frontier Markets

The region awaits the record India IPO from Jio Platforms, while first trading gains suggest heightened risk appetite. India needs double-digit factory growth in manufacturing to meet its long-standing ambitions, according to a Bank of America report. Eskom's transmission spin-off is in focus as the continent seeks private investment. The region also faces ongoing structural issues: Bathla Group’s collapse has left thousands of Australian homebuyers in limbo over their deposits. A new magazine for teens debuts with a cover featuring Justin and Hailey Bieber, written in a print renaissance.