Public Markets 3 Days

Last updated: June 29, 2026, 2:30 PM ET

Markets & Economy

The U.S. stock market saw a mixed performance, with futures climbing on reports of potential peace talks between the U.S. and Iran US Futures Climb. This followed a volatile start to the year, as investors grapple with a range of risks including artificial intelligence, rising interest rates, and U.S. elections Risks in Focus. The market also experienced a significant rout in Microsoft shares, heading for its worst month since the dot-com era Microsoft’s Rout. Despite this, dip buyers emerged, helping U.S. stocks rally from the previous week’s declines US Stocks Rally. The leverage that fueled the recent stock rally is now becoming a growing concern Leverage Concern. Meanwhile, emerging market bonds faced headwinds from a hawkish Federal Reserve under Chairman Kevin Warsh Hawkish Fed Challenge. The Bank for International Settlements warned that AI "exuberance" threatens the global economy AI Exuberance Warning.

Corporate Deals & Restructurings

Comcast's plan to spin off NBCUniversal and Sky sent its shares soaring, with reports indicating gains of 22% and 25% in separate reports Comcast Shares Soar. This move will separate the company’s connectivity business from its media operations Comcast Spinoff. The potential breakup of Charter Communications Inc. also prompted record moves in some of its debt securities, as traders bet on a combination with rival Comcast Charter Junk Bonds. In other corporate news, construction-products supplier Carlisle made an unsolicited offer for rival Owens Corning Carlisle Offers, and Williams Cos. is nearing a $5.5 billion deal for Momentum Midstream Williams Buys Momentum. Satellite pay-TV provider Dish DBS is preparing for a Chapter 11 bankruptcy filing Dish Prepares Bankruptcy, and technology solutions provider TPx Communications has filed for bankruptcy in Texas TPx Files Bankruptcy. Atom Bank's sale is on the cusp of collapse, with shareholders targeting a £600 million valuation but failing to attract bids at that price Atom Bank Sale. CVC Capital Partners is set to buy ingredients business Irca from Advent CVC Buys Irca.

Technology & AI

Artificial intelligence continues to be a major theme, with Madison Avenue going all in on sophisticated AI tools to cut costs and automate ad production Madison Avenue AI. However, AI's economic impact raises concerns, with one perspective suggesting that AI is strangling the economy due to the vast sums being invested AI Strangles Economy. Scholars warn that AI "employees" may disrupt work in unexpected ways, potentially undermining advertised benefits AI Employees Disrupt. The real AI race is not between America and China, as Washington begins to adopt a similar playbook to Beijing in AI policy Real AI Race. AI-generated images are prominent in election campaigns, while behind the scenes, technology is used for voter data analysis and message crafting AI in Campaigns. OpenAI has hired Uber’s former India president, Prabhjeet Singh, to lead its India operations OpenAI Hires Singh. Chipmakers globally appear expensive, with high valuations for AI-exposed markets Chipmakers Expensive.

Energy & Commodities

The Strait of Hormuz remains a focal point, with France and Oman backing free transit Hormuz Free Transit. However, U.S. strikes in Iran followed a second ship being hit US Strikes Iran, and the reopening of the crucial waterway faltered after Iran struck two ships Hormuz Recovery Bumpy. Iraqi oil, previously trapped, has escaped through the Strait amid an uneasy U.S.-Iran ceasefire Iraq Oil Escapes. U.S. natural gas futures retreated as the market looks beyond the current heat wave driving demand US Natural Gas Lower. Steelmakers are warning of power crises due to electricity competition from AI data centers AI Data Centers Power Crisis. Fossil fuel subsidies are projected to reach $1.1 trillion in 2026, primarily due to government spending to shield consumers from high energy prices triggered by the war in Iran Fossil Fuel Subsidies.

Global Economics & Development

France has passed a new law to fine Shein, Temu, and ultrafast fashion companies, targeting high-volume, low-price apparel and banning certain promotions France Fines Fast Fashion. The French heat wave recorded over 1,000 excess deaths, according to initial estimates France Heat Wave Deaths, with Western Europe experiencing record temperatures Europe Heat Wave. Ethiopia has reached an agreement to cut payments on a $1 billion bond, following substantial debt relief from official creditors Ethiopia Bond Deal. Mexico's central bank has introduced a bond-buying tool to support liquidity Mexico Bond Tool, and the country's main exchange, BMV Group, halted trading before the session open Mexico Exchange Halts. In Africa, Kenya and the Democratic Republic of Congo's Eurobonds are among the top performers as falling crude prices attract investors back to oil importers African Eurobonds Rally. Congo has ordered cobalt miners to surrender unused export quotas Congo Cobalt Quotas.

Financial Regulation & Policy

The U.S. Supreme Court handed President Trump new powers, with a rare dissent from Justice Sonia Sotomayor warning of potential chaos Trump Gains Power. The court also upheld a grace period for mail-in ballots arriving after Election Day Mail-In Ballots Upheld and rejected Trump’s request to appeal a $5 million verdict in the E. Jean Carroll case Trump Verdict Appeal Rejected. President Trump renewed a threat to fire Fed Governor Lisa D. Cook following a court loss, though the Supreme Court later reinforced the Fed’s independence Trump Threatens Fed. Washington’s Treasury Secretary’s principles of economic statecraft have drawn scrutiny for perceived contradictions Treasury Principles Contradictory. Silicon Valley's use of tax breaks for small businesses through trusts is drawing the IRS's attention Silicon Valley Tax Trusts.

Geopolitics & International Relations

Pakistan has attacked Afghanistan, resulting in over 30 deaths, with both sides claiming different casualty figures Pakistan Attacks Afghanistan. A deal between Lebanon and Israel has divided the Lebanese public, sparking protests in Beirut Lebanon Israel Deal Divides. The ongoing conflict in Venezuela is being tested by two powerful earthquakes that left over 900 dead and triggered a search for survivors Venezuela Earthquakes. U.S. officials expressed frustration with opposition leader María Corina Machado’s calls for help, stating her desire to return home comes at an inopportune time Machado's Call Help. A bomb attack targeted Ecuador’s mining agency, which was probing illegal gold operations Ecuador Bomb Attack.

Labor & Social Issues

Gen Z is increasingly running for office, with Melat Kiros challenging Representative Diana DeGette Gen Z Runs Office. In France, a debate has erupted over "gentle parenting" and a psychologist's call for a return to discipline French Parenting Debate. A law intended to end surprise medical billing has resulted in some surgical assistants earning significantly more than the surgeons they assist, with earnings reaching $22,000 per hour Assistants Outearn Surgeons. A New Zealand Olympian who founded a fitness chain, Les Mills, has died at 91 Les Mills Dies. The Hamptons' luxury economy is heavily reliant on human labor Hamptons Labor Essential.

Transportation & Aviation

A Jet Blue pilot reported a drone strike at New York's JFK Airport, though the aircraft landed safely with no reported damage JetBlue Drone Report. Airlines are installing new luxury lie-flat seats, but these are facing long waits for safety certifications New Luxury Seats. Airbus will receive a $3.42 billion loan from the European Investment Bank to support its investments in commercial aviation, security, and defense Airbus Loan. Heathrow's £33 billion expansion has been described as "like a luxury Mercedes" by the head of Star Alliance, who warned of the project's "eye-watering" costs Heathrow Expansion Costly.

Other Markets & Industries

The yen hit a 40-year low against the dollar, a historic slide that is rattling Japan and putting traders on high alert for market intervention Yen Hits 40-Year Low. In the U.S., funding costs for equities are rising and risk spilling over into repo rates Equity Funding Costs. The cocoa crop in Ivory Coast, the top grower, could fall by about a fifth, risking tighter global supplies Ivory Coast Cocoa Crop. Corn prices tumbled as the USDA report is expected to show the largest U.S. stockpile since 1988 Corn Drops on Supply. British American Tobacco is slashing 9,000 jobs, affecting about one in five positions British American Tobacco Cuts.