Public Markets 3d Briefing
×Market Volatility & Tariff Impact
US stock futures wsj.com fell as tariff uncertainty weighed on global markets, with initial optimism over the Supreme Court ruling against large swathes of Trump's tariff regime quickly fading. European stocks bloomberg.com declined as President Donald Trump's latest tariff moves sowed fresh confusion over the outlook for global trade, while shares in Novo Nordisk A/S slumped after its next-generation obesity shot faced pricing pressure. Copper bloomberg.com fell as traders weighed uncertainty around US tariffs and how they might impact demand for the metal in China, while gold prices investing.com rose as Trump tariff turmoil boosted safe-haven demand.
Corporate Earnings & Valuations
Stripe ft.com reached a $159 billion valuation in an employee tender offer, co-founder and president John Collison said in an interview, as the payments company's valuation soared on surging payment volume. Medtronic Diabetes Business Mini Med bloomberg.com is seeking to raise as much as $784 million in an initial public offering, as the diabetes management firm prepares to separate from health-care giant Medtronic Plc. Booking investing.com was lifted to Buy as analysts said it would remain a "key driver of travel," while Keurig Dr Pepper wsj.com reported high fourth-quarter sales, boosted by higher prices as the company's US refreshment-beverage segment saw net sales increase 12% to $2.7 billion.
AI & Technology Sector
Nvidia investing.com is set to report strong results and guidance, analysts say, as the countdown to earnings begins amid AI fears weighing on stocks. Meta finance.yahoo.com and AMD announced a 6-gigawatt GPU deal as part of AI buildout, while Meta ft.com agreed to a multibillion-dollar chip deal with AMD that paves the way for the social media giant to take a stake in the chipmaker group. Brookfield bloomberg.com bought cloud-computing firm Ori Industries in a bet that governments and tech companies will need chips to win an escalating artificial-intelligence race. Meanwhile, investors bloomberg.com are dumping software stocks and earnings won't stop it, as fears of disruption from artificial intelligence continue to pressure the sector.
Fixed Income & Banking
JPMorgan's Bob Michele bloomberg.com sees bonds as "perfectly priced market," explaining the factors he sees creating "nice" tailwinds for the bond market. UBS investing.com cut Gerresheimer to "sell," slashing the price target to €12.90 on leverage concerns, while UBS investing.com also cut Elia Group to "neutral" as share rally prices in regulatory upside. Goldman Sachs investing.com outlined the main risks to US growth in 2026, highlighting concerns about economic uncertainty and high interest rates. The US Treasury bloomberg.com saw gains fizzle with key yield hovering near 4% level as demand for havens eased and investors focused on near-term risks for bonds.
Emerging Markets & International
Emerging-market stocks bloomberg.com hit new highs as Asian tech rally powers on, allowing the sector to shrug off AI concerns that have weighed on Wall Street. China bloomberg.com is becoming more attractive as inflows rise, according to Deutsche Bank CIO, who cited the country's tech prowess as making it an increasingly attractive investment destination. JPMorgan bloomberg.com said UAE is too rich to be an emerging market, announcing it will remove the United Arab Emirates from its emerging-market bond indexes by June after the Middle Eastern nation exceeded the bank's measures of wealth for three successive years.
Energy & Commodities
Iran's crude loadings wsj.com have surged to multiyear highs this month as geopolitical risks build ahead of a third round of nuclear talks with Washington. Russia's crude shipments bloomberg.com scraped a gain to offset pipeline losses, with increases in seaborne flows making up for lost piped volumes to Hungary and Slovakia. European natural-gas prices wsj.com fell as prospects of milder weather and higher imports eased concerns over supply. Exxon Mobil bloomberg.com is betting the economic boom unleashed by its giant discovery in Guyana will give the company an edge when negotiating fiscal terms with other nations looking to develop their own oil fields.
Healthcare & Pharmaceuticals
Novo Nordisk bloomberg.com plans to slash US list prices for its blockbusters Wegovy and Ozempic next year as the drugmaker struggles to claw back a larger share of the obesity market. Eli Lilly investing.com fell 2% on Novo Nordisk price cut plans, while Novo Nordisk investing.com saw its selloff continue as the stock got hit with rating downgowns. Fresenius Medical Care wsj.com shares dropped after the German dialysis specialist forecast flattish revenue and adjusted earnings in the year ahead amid regulatory headwinds.
Consumer & Retail
Home Depot wsj.com reported lower fourth-quarter profit as economic uncertainty, high interest rates and a stagnant housing market continue to weigh on home improvement activity. Planet Fitness wsj.com posted higher profit and revenue in the fourth quarter as it added members and opened locations, and the company forecast continued growth in the year ahead. Kratos investing.com stock gained on earnings beat and strong revenue guidance, while Roku wsj.com ended a three-year profit slide with new ad deals and cost cuts helping it achieve its first year in the black since 2021.
Auto & Manufacturing
Detroit bloomberg.com is bringing back big, gas-guzzling V8s at the expense of electric-vehicle production now that President Trump has zeroed out penalties for not meeting fuel economy or emissions standards. China's BYD wsj.com opened 2026 with blockbuster sales growth in Europe, logging a nearly threefold increase in European sales last month and outselling Tesla, while Volkswagen, BMW and Renault all reported declines. Amer Sports bloomberg.com shares fell after the company issued a first-quarter outlook that trailed expectations, raising concerns on higher costs to promote its Salomon footwear and Arc'teryx apparel brands.
Real Estate & Infrastructure
OTP Bank bloomberg.com is eyeing central Asia for the next stage of expansion, CEO says, as Hungary's largest lender seeks to replicate an expansion strategy that's made it the second-biggest bank in eastern Europe. Tata Sons bloomberg.com deferred a call on chairman's term, signaling a new power tussle at India's largest conglomerate. Saks Global bloomberg.com CEO says top brands are shipping despite bankruptcy, with hundreds of brands including Burberry and those owned by luxury powerhouses LVMH and Kering either resuming or continuing shipping to the troubled retailer.
Private Markets & M&A
Bain Capital bloomberg.com and Lone Star Funds have advanced to a second round of bidding for Mitsubishi Electric Corp.'s automotive equipment business, according to people familiar with the matter. Archer Meat Snacks bloomberg.com secured a credit facility for nearly $100 million from JPMorgan Chase & Co., allowing it to ramp up production as demand surges for its high-protein snacks. Raine Group wsj.com hired a former Credit Suisse IPO veteran, betting on 2026 being a blockbuster year for technology debuts and fundraising.