Public Markets 3d Briefing
×Market Volatility and Oil Surge
US stocks bloomberg.com tumbled as the Iran conflict widened, with the S&P 500 and Nasdaq both falling over 1%. The war's escalation drove oil prices to surge, with US crude futures climbing as much as 9% as the Strait of Hormuz all but closed to shipping. Bond traders bloomberg.com sharply reduced expectations for Federal Reserve rate cuts, as the conflict stoked inflation worries and pushed sovereign yields higher.
Tech Sector Turbulence
MongoDB bloomberg.com shares plummeted over 20% after the database software company issued weaker-than-expected forecasts for full-year revenue and first-quarter adjusted earnings. Meanwhile, CrowdStrike wsj.com swung to profit with sales rising 23%, while CrowdStrike investing.com beat Q4 estimates but forecast an in-line outlook. Q2 Holdings finance.yahoo.com shares skyrocketed following strong quarterly results and a positive 2026 outlook.
Energy and Commodities
Diesel prices bloomberg.com surged to multi-year highs globally as the Iran war choked fuel supplies, adding to the burden on consumers already grappling with low inventories. Norsk Hydro wsj.com announced its Qatari smelter would shut down after its joint-venture partner stopped supplying gas amid Iranian attacks. Gold flows bloomberg.com from Dubai were stalled as mass flight cancellations highlighted potential bottlenecks to physical metal movement during the conflict.
Private Markets and M&A
Blackstone executives bloomberg.com opened their wallets to support the firm's flagship private credit fund under pressure. JPMorgan Chase bloomberg.com and Wells Fargo provided about $1 billion in debt to support the management buyout of hospital operator Select Medical Holdings. D'Ieteren Group bloomberg.com appointed Rothschild & Co. to explore strategic options for its controlling stake in Belron, a global car glass replacement and repair business.
Geopolitical Impact on Markets
Emerging-market currencies bloomberg.com saw their worst day since November 2024 as the dollar jumped and traders dumped risk assets amid fears of prolonged military conflict in the Middle East. Asian banks bloomberg.com faced growing uncertainty as their multibillion-dollar loans to the Middle East were at risk amid the turmoil. UK Chancellor Rachel Reeves bloomberg.com addressed the economic impact of the war, discussing the UK's budget outlook and trade relationships.
Corporate Strategy and Leadership
Target's new CEO Michael Fiddelke wsj.com outlined a $6 billion plan to turn the retailer around, promising investments in stores, workers, and technology. Starbucks wsj.com announced plans to open a Nashville office and relocate supply-chain workers as part of its US expansion efforts. Verizon wsj.com recently weighed pulling back on its NFL sponsorship deal but decided against the changes while scrutinizing other major sports and music marketing agreements.
AI and Technology Developments
Anthropic's Claude finance.yahoo.com became the most popular free app on iPhone and Google Play amid fallout from the Trump administration's actions. Meta wsj.com announced plans to create a new applied AI engineering organization in its Reality Labs division with a "flat structure" featuring up to 50:1 ratios of individual contributors to managers. BNY CIO Leigh-Ann Russell bloomberg.com discussed upskilling employees with AI and developing internal AI platforms.
Financial Sector Updates
Goldman Sachs traders bloomberg.com warned of a "painful" path for US stocks before any rebound, citing fragile sentiment and choppy flows that left the S&P 500 vulnerable. Wells Fargo bloomberg.com discussed leveraging AI to improve productivity and empower its workforce. Bank of America investing.com upgraded Unity as its stock price had baked in much of the downside risks.
International Markets and Policy
Brazil's President Lula bloomberg.com faced mounting scrutiny as his son had bank secrecy lifted in a fraud probe, posing risks to the leftist leader ahead of the congressional investigation. Canada bloomberg.com committed $2.6 billion to boost critical minerals projects, moving closer to deploying around C$3.5 billion in investments. Taiwan's $247 billion pension fund bloomberg.com considered more overseas mandates, less than a year after its last such initiative.
Market Infrastructure and Trading
The NYSE's Lynn Martin bloomberg.com stated that global conflicts, including strikes on Iran, are unlikely to completely halt companies from tapping US public markets. The SEC bloomberg.com pushed back against a new wave of high-leverage ETF plans, using a rare group call to renew its opposition to increasingly aggressive fund structures. US crypto-linked perpetual futures bloomberg.com are coming soon, with the CFTC chair planning to allow these trading instruments within weeks.
Economic Analysis and Outlook
Federal Reserve Bank of Minneapolis President Neel Kashkari bloomberg.com discussed the outlook for interest rates, the US economy, and the importance of central bank independence. Ariel Investments' John Rogers bloomberg.com addressed the US consumer and the "K-shaped" economy, highlighting divergent economic experiences across different income groups. Ross Stores bloomberg.com forecast same-store sales growth for its upcoming fiscal year that topped analyst estimates, capitalizing on affordability concerns.
Defense and Aerospace
SpaceX bloomberg.com added Citigroup to its IPO bank lineup as Elon Musk's rocket and satellite company moved closer to going public. Anduril finance.yahoo.com was set to double its valuation with a $4 billion funding round, according to sources familiar with the matter. Three USAF F-15E Strike Eagles yahoo.com were shot down by friendly fire, highlighting the risks in the escalating conflict.
Media and Entertainment
News Corp and Meta wsj.com entered an AI content licensing deal worth up to $50 million annually, giving Meta access to content for training and retrieving information for users of its AI tools. All3Media and Banijay ft.com combined to create an $8 billion global TV powerhouse, becoming the world's largest independent TV maker producing shows from Master Chef to The Traitors. Pat McGrath bloomberg.com agreed to a deal to pull her cosmetics company out of bankruptcy but had to give up control in the restructuring.