Public Markets 3d Briefing
×Market Moves
The S&P 500 dropped 1.2% wsj.com in its worst week since June, marking its first two-week loss since June. Entrata ft.com is working with Goldman Sachs and JPMorgan on an IPO, signaling continued M&A activity despite market volatility. Gold held losses bloomberg.com as a strong dollar outweighed any haven demand, setting the precious metal on track for its first weekly loss in over a month. Goldman Sachs bloomberg.com noted there's "not a ton of confidence" that US security measures in the Strait of Hormuz will resolve the current energy crisis, highlighting persistent geopolitical risks.
Macro & Policy
Japan may intervene to buy yen investing.com amid speculation over the escalating Middle East conflict. Ecuador bloomberg.com is eyeing a $4 billion bond sale to bolster its reserves as global energy prices surge. The US issued a general license allowing some Russian oil sales to India, giving the nation more options to purchase fuel amid the Persian Gulf chokepoint crisis. India ft.com faces an energy conundrum as Middle East war hits supply, while Foreign Banks bloomberg.com discover India's growth comes with strict conditions like limited control and drawn-out returns.
Energy & Commodities
Oil futures fell sharply after Treasury Secretary Bessent unveiled a stopgap measure to ease pressure caused by Iran's actions. Brent crude bloomberg.com prices surged to $81, the highest in 20 months, as investors priced in a prolonged war. Saudi Arabia raised the price of its main oil grade for Asian buyers by the most since August 2022, citing the widening conflict. Goldman Sachs bloomberg.com reiterated that a $100 Brent price scenario remains "possible" if the Strait of Hormuz experiences sustained disruption. Oil producers bloomberg.com are closing out a record-breaking hedging week, bracing for more volatility as the Iran war shows no signs of easing.
Global Markets
Asian currencies strengthened against the dollar in early trade, with Asia's $8 trillion in reserves bloomberg.com providing central banks firepower to defend currencies against energy-driven inflation risks. The dollar eyed its best week since 2024 as the war fueled a flight to safety. However, traditional safe havens bloomberg.com like gold and Treasuries failed investors this week, underscoring the conflict's broad market impact. Bond traders bloomberg.com are increasingly betting the Federal Reserve won't cut rates this year, citing inflation risks from the Middle East conflict.
Corporate Activity
Sanctioned Russian LNG tankers bloomberg.com diverted away from the Mediterranean after an alleged drone attack. Sushiro Parent Company bloomberg.com shares plummeted following a Beijing food safety probe. Petrobras bloomberg.com topped estimates with robust production and exports, cushioning the oil price slide. Robinhood wsj.com launched a $695-a-year credit card targeting superspenders, entering a crowded market. Nike wsj.com took a $300 million charge from cost-cutting efforts, including severance costs.
Finance & Regulation
The SEC ended its fraud case against crypto billionaire Justin Sun, while Goldman Sachs wsj.com advised commercial insurers are best positioned for AI adoption. Marvell Technology wsj.com raised its sales forecast, driven by AI-driven data center demand. Uber wsj.com faced pressure from declining Athleta sales, while Gap wsj.com reported a 10% same-store sales drop at Athleta. JPMorgan bloomberg.com lost its Co-Head of Shareholder Engagement, Alfredo Porretti.
International Developments
The Philippines is considering a shorter work week and reduced air conditioning to conserve energy amid soaring fuel costs. China investing.com pushed Iran for safe Strait of Hormuz passage. Turkey bloomberg.com halted oil shipments via the Mediterranean pipeline to the Turkish port of Ceyhan. Saudi Arabia bloomberg.com hiked Asian oil prices, the largest increase since August 2022. India ft.com secured a US license to import Russian oil, diversifying its energy sources.
Economic Indicators
The US jobs report fueled market optimism, with stocks rallying despite Iran war concerns. Eurozone bloomberg.com inflation data showed persistent pressure, while US inflation bloomberg.com remained nearly a full percentage point above target. Malaysia bloomberg.com kept interest rates steady, exercising caution amid global uncertainty. Japan bloomberg.com considered yen intervention as the conflict intensified.
Market Sentiment
Gold edged higher on technical recovery hopes, though set for a weekly loss. Bond traders bloomberg.com see an increasing chance of no Fed rate cuts this year. S&P 500 futures bloomberg.com steadied after Wall Street's selloff on oil spikes. European stocks bloomberg.com fell, putting markets on track for their worst week in six years due to the Iran conflict and crude oil decline. Goldman Sachs bloomberg.com warned the Iran war could unleash a wave of global inflation, threatening the fragile post-pandemic recovery.
Regional Focus
Thailand bloomberg.com and Malaysia bloomberg.com faced energy security challenges. India wsj.com grappled with the energy crisis while Philippines bloomberg.com explored energy-saving measures. Japan bloomberg.com weighed yen intervention. China bloomberg.com advanced its currency internationalization efforts. Europe bloomberg.com tested Trump's trade deal patience. Russia ft.com faced sanctions pressure, while Ukraine bloomberg.com reported halted oil shipments.
Corporate Finance
BlackRock wsj.com positioned for AI growth, while Marvell wsj.com exceeded revenue expectations. Uber