Public Markets 3 Days

Last updated: June 8, 2026, 11:33 AM ET

Equities & Technology

US stocks rebounded sharply on Monday from their worst selloff this year, with Nvidia leading big-tech gains as traders assessed Middle East tensions that supported energy shares and lifted the S&P 500 futures 0.6% in premarket trading. Despite the bounce, stocks remain pressured by lingering AI sector weakness and oil price volatility, with the Nasdaq composite still nursing steep losses from Friday's tech rout. Nvidia's CEO Jensen Huang dismissed the selloff as a buying opportunity, arguing that the artificial intelligence buildout has only just begun even as investors grow anxious about stretched valuations. In European markets, defense-focused IPOs are set to dominate upcoming listings as governments ramp up military spending, while Bending Spoons filed for a Nasdaq offering valuing the Vimeo parent at roughly $500 million after reporting a 30% revenue jump.

Energy & Commodities

Oil prices trimmed early gains after Iran announced it had ended military operations against Israel, easing fears that renewed hostilities could disrupt Middle East supply routes and derail regional peace efforts. Benchmark crude had jumped earlier when Iran and Israel exchanged strikes for the first time since their fragile cease-fire, sending futures up more than $3 per barrel before paring those advances. The UAE's Adnoc entered the market selling bumper volumes of Persian Gulf crude to Asian refiners, marking the first such tenders since the Iran conflict erupted and highlighting shifting trade flows. Meanwhile, Asia-to-US container rates have spiked 109% since the war began, driven by higher fuel costs, port congestion, and peak season demand that's adding inflationary pressure to global supply chains. Natural gas futures declined on weather forecasts for cooler temperatures in late June, offering relief to US drillers who have been shutting in wells amid negative pricing in the Permian Basin.

Fixed Income & Credit Markets

Treasury yields cooled slightly as investors cautiously returned to bond markets, softening the selloff triggered by Friday's stronger-than-expected jobs report that showed persistent wage pressures. The dollar faces further downside if risk appetite recovers and the Federal Reserve avoids raising rates, though expectations for tightening are mounting as Citadel Securities warns that financial conditions may force the Fed to hike "soon" to combat mounting inflation. In Europe, Japanese pension fund proxies purchased a record amount of foreign bonds in May, adding to robust demand for overseas debt even as domestic yields climb. Private credit performance continues defying gloom as institutional investors maintain faith despite retail outflows, with Arcmont's CEO noting default rates in portfolios remain historically low. However, longer-term emerging market bonds may miss out on any Iran peace dividend as inflation and fiscal concerns keep yields elevated.

Banking & Financial Services

Italy's Intesa Sanpaolo launched a €35 billion bid for Monte dei Paschi, pitting the country's largest retail bank against BPM in a battle for control of their domestic rival amid continued consolidation in Italy's banking industry. Blackstone is testing investor appetite for private equity exposure by packaging more than $2 billion of fund stakes into bonds, in what could become one of the largest secondary market transactions for aging alternative investment vehicles. In the UK, Neil Woodford faces legal action from both the FCA and the government over allegations of providing unauthorized investment advice, marking another chapter in the downfall of the once-renowned fund manager. Universal Music Group is sounding out investors for a potential €1 billion two-part bond sale after rejecting Bill Ackman's takeover approach, while Tencent prepares a dual-currency bond offering targeting roughly $3 billion to fund its international expansion.

Pharmaceuticals & Biotechnology

Incyte agreed to acquire Vega Therapeutics for up to $2 billion, expanding the biopharmaceutical company's hematology portfolio into bleeding disorders as midsized drugmakers supplement pipelines to compete with Big Pharma giants. The deal follows Tango Therapeutics jumping as much as 48% after initial study results showed its drug combination with Revolution Medicines' therapy shrunk tumors in advanced pancreatic cancer patients. Investors are also watching Eli Lilly shares rise premarket on late-stage trial success for retatrutide, which demonstrated effectiveness in weight loss and alleviating obesity-linked conditions. The era of one-size-fits-all cancer drugs may be ending as investors bet new therapies can challenge Merck's Keytruda dominance, though early evidence suggests more modest gains.

Corporate Developments & Restructuring

Wix.com slashed 20% of its workforce and lowered outlook as the website-building platform continues restructuring, with the cuts expected to weigh on bookings and revenue amid intense competition in the web services market. Honeywell backed its full-year guidance ahead of closing the aerospace division spinoff, maintaining confidence despite macroeconomic headwinds from the Iran conflict. In North America, Amazon entered a multibillion-dollar agreement with Corning for optical fiber and connectivity solutions to support its expanding data center footprint, while simultaneously seeking C$7 billion from investment-grade bonds in Canadian dollars as US hyperscalers look beyond their home market for AI infrastructure funding. U.S. Steel is renovating its oldest plant in a $120 million project that will increase production and extend the facility's operational life.

Geopolitical Risk & Market Impact

The Iran war is forcing energy-importing countries to turn inward and prioritize domestic energy production to protect against volatile oil and natural gas markets, with Europe's diesel and jet fuel imports stagnating for a second month in May. China signaled its securities regulator will deepen focus on sustainable long-term returns amid a broader economic fortress strategy as global tensions rise. Indonesian officials vowed to step up efforts to stabilize the rupiah and attract inflows after stocks tumbled at the world's fastest pace, with the currency under pressure from capital outflows and Middle East supply disruptions. A second screwworm case was confirmed in Texas, heightening fears of a broader outbreak that could impact the US beef industry just as Pepsi Co's driverless trucks are bringing autonomous technology into the mainstream with 41 units operating in Arizona, Texas and Arkansas.