Public Markets 3 Days

Last updated: June 25, 2026, 5:30 PM ET

Artificial Intelligence & Technology

The artificial intelligence boom continued to drive market dynamics, with tech shares zigzagging through a volatile week. Apple Inc. raised prices on Macs and iPads by $200 or more on some models, citing rising memory and storage chip costs exacerbated by the AI surge. Similarly, Mac gadget prices inflated with Apple’s increases contributing to a trend dubbed "Macflation." Memory maker Micron Technology Inc. reported earnings that assuaged AI doubts, sparking a tech sector rebound. However, concerns over the sustainability of the AI boom caused a tech-sector rout and a sharp retreat in tech stocks, with some analysts questioning the long-term performance of AI in stock-market timing studies which cast doubt on AI's timing prowess. Amazon and Google lead the AI race, with Amazon holding an incumbent advantage and Google noted for innovative approaches. In the competitive AI landscape, Chinese AI models are gaining ground, with Z.ai offering capabilities comparable to U.S. competitors at a significantly lower cost. Meanwhile, OpenAI is leaning toward delaying its IPO until next year, as advisers urge caution amid financial challenges and volatile market conditions for companies like SpaceX. BlackBerry Ltd. lifted its fiscal 2027 outlook based on embedded-software growth and expanding AI opportunities, while Qualcomm Inc. acquired Modular Inc. for $3.9 billion in stock to bolster its AI software capabilities for data centers. The energy demands of AI are also prompting innovation, with Tesla, Sunrun, and Renew Home planning to leverage smart home devices to meet the growing power needs.

Mergers & Acquisitions

The semiconductor and automotive sectors saw significant M&A activity. ON Semiconductor Corp. agreed to acquire Synaptics Inc. in an all-stock deal valued at $7 billion enterprise value, aiming to bolster its AI compute platform and human-machine interface technologies to meet escalating AI demand. In the auto parts sector, Stellantis NV and Nissan Motor Co. are reportedly in talks to acquire assets from the troubled Marelli Holdings Co. amidst its bankruptcy reorganization seeking to absorb the auto-parts maker's assets. Volkswagen is also exploring asset sales, with its Everbright unit sale suggesting that even struggling automakers may hold hidden value in ailing carmakers' hidden charms. In the logistics sector, Rio Tinto Group is in discussions with Vitol Group to establish a freight and logistics joint venture, aiming to reduce freight costs after ending prior acquisition talks. In a move to expand its advertising technology capabilities, retail giant Walmart Inc. agreed to acquire Vibe.co for $1.4 billion, a company that facilitates advertising through connected TVs in its largest deal in two years.

Energy & Commodities

Oil futures extended declines, erasing most of their wartime gains as swelling supply and progress on a U.S.-Iran peace deal eased concerns. The Strait of Hormuz remained a point of tension, with Iran threatening ships and at least four vessels changing course as Tehran challenged the International Maritime Organization's evacuation routes in the vital waterway. A strike on a vessel near Oman prompted a UN agency to pause an evacuation of ships from the Persian Gulf following an attack on a cargo ship. Total Energies will now account for its role in greenhouse gas emissions, following a court ruling that offered a partial victory to campaigners seeking to attribute corporate responsibility for global warming as a court rules on emissions. Europe is grappling with a severe heatwave, leading to record electricity prices and straining energy systems due to soaring demand for air conditioning as heatwaves persist. U.S. diesel prices fell below $5 a gallon, easing inflationary pressure for a key global fuel as prices decline. Iraq is pushing OPEC for permission to pump more oil, as its crude sales were drastically reduced when U.S.-Iran tensions blocked exports via the Strait of Hormuz seeking higher output limits.

Fixed Income & Credit Markets

Treasury yields declined as U.S.-Iran peace talks continued, with a key inflation gauge rising less than estimated also dampening expectations for further interest rate hikes as inflation cools. SpaceX has seen its credit derivatives begin trading actively after the company's debut high-grade bond sale as credit-default swaps trade, and the company's IPO structure is raising questions about investor power in public companies as shareholders lose influence. In private credit, one fund has restricted exits for four years, raising concerns among wealth advisers about investors recovering their capital with exits restricted for years. Hertz Global Holdings Inc. experienced a record weekly stock drop attributed to its funding plan and profit guidance heading for a record decline. Fannie Mae and Freddie Mac are increasing their exposure to interest-rate risk, pushing a key gauge of their portfolios to levels not seen in two decades boosting portfolio risk. The Brazilian petrochemical giant Braskem SA has filed for emergency protection against creditors as debt restructuring talks falter seeking creditor protection.

Corporate & Market News

The retail sector saw a significant deal as Walmart agreed to buy Vibe.co for $1.4 billion to enhance its advertising capabilities through connected TVs acquiring ad tech firm. H&M AB reported earnings that missed estimates, signaling persistent challenges in its turnaround efforts amidst intense competition and cautious consumer spending missing earnings targets. Red Lobster's all-you-can-eat shrimp promotion is the subject of a lawsuit alleging it was a scheme to pressure the restaurant chain into bankruptcy alleging promotional scheme. Cal-Maine Foods Inc. and other egg suppliers are nearing a settlement with the Justice Department and several states over an investigation into alleged illegal price coordination poised to settle pricing probe. Tesco is re-entering the broadband market, aiming to capture market share through its brand recognition and existing customer base launching broadband service. Geneva School of Manhattan is acquiring a former private school campus for $33.2 million buying UWS campus.

Automotive & Transportation

The automotive sector is navigating shifts towards electric vehicles and regulatory hurdles. The U.S. has banned Polestar, a Chinese-owned EV maker, from selling cars in the U.S. due to a government rule prohibiting Chinese software in vehicles banned from U.S. market. Slate Auto is attempting to prove the viability of affordable EVs with its new truck, priced in the mid-$20,000s, featuring hand-crank windows and no radio offering a cheap EV truck. US airline stocks have erased pandemic-era losses, recovering from a six-year slump as easing oil prices and progress on a U.S.-Iran peace deal lowered fuel costs erasing pandemic losses. Airfares remain elevated despite falling jet fuel prices globally, with U.S. passengers not yet seeing the benefit fares stay high. FedEx Freight expects revenue to grow 4% to 6% for the remainder of the fiscal year, reflecting confidence in its business strength following its spinoff from FedEx guiding for growth post-spinoff.

Global Markets & Economics

Indonesia faces a critical review by MSCI, with billions of dollars at stake as the country risks a market status downgrade that could trigger capital flight facing MSCI review. China's flood of cheap exports is seen as bolstering emerging-market bonds by helping to keep inflation in check across the developing world, according to Pimco boosting EM bonds. Australian hiring rebounded in May, pushing down the unemployment rate and validating the Reserve Bank's view of a tight labor market hiring rebounds in Australia. Venezuela is preparing for the world's largest debt restructuring, intending to reveal a $240 billion debt pile as it seeks re-entry into global markets facing debt restructuring. Kalshi Inc. has added India to its restricted jurisdictions list after the country's technology ministry warned that prediction market platforms were illegal restricting India access. European stocks are poised to tumble as a selloff in technology shares bites set to tumble on tech selloff. KPMG Australia's chair and senior partners are departing in the wake of an audit scandal, with the firm set to appoint an independent chair as part of an action plan partners depart amid scandal.

Legal & Regulatory

The Supreme Court has delivered a series of significant rulings. In immigration matters, the court ruled that the Trump administration could end humanitarian protections for many Haitians and Syrians in the United States, clearing the way for their potential deportation ending TPS protections. This decision leaves 1.3 million people from over a dozen countries vulnerable to deportation plunging migrants into limbo. The court also allowed the Trump administration to block asylum seekers at the border, a policy that, while rescinded in 2021, could be reinstated for border control purposes blocking asylum seekers. In a victory for Bayer AG, the Supreme Court overturned a lower court verdict in a case alleging the manufacturer failed to warn about Roundup weedkiller's alleged cancer risks, likely impacting thousands of similar lawsuits crucial victory for Bayer. Chemours will pay $450 million in the first federal settlement addressing the dumping of PFAS "forever chemicals" linked to various health risks settling PFAS case. A federal judge blocked bans on using food stamps for sugary drinks and candy, ruling the Agriculture Department lacked the authority to approve state waivers restricting SNAP purchases blocking SNAP restrictions.

Geopolitics & International Relations

Tensions in the Strait of Hormuz have resurfaced, with Iran threatening ships and at least four vessels changing course, challenging the International Maritime Organization's evacuation route Iran challenges transit routes. Iran and Oman have agreed to work on a pact concerning transit costs and administration of the Strait of Hormuz amidst ongoing concerns from traders and shipowners pact sought for Hormuz transit. The conflict in the Middle East contributed to an uptick in inflation in May as the Iran war inflated energy prices inflation rises amid conflict. U.S. military officials are seeking additional funding from Congress as the nation faces a prolonged shortage of weapons weapons shortage persists. The U.S. has invested $250 million in I-Pulse Inc. for semiconductor and