Public Markets 3 Days

Last updated: July 2, 2026, 11:30 AM ET

Public Markets Roundup

Autos & Tech

Tesla sales jumped 25% in the second quarter, driven by a recovery in Europe and China that offset a slump in the U.S. market, where demand was impacted by the end of EV tax credits WSJ. The company now focuses on autonomous vehicles and robotics, with only three new-car models currently offered. Separately, the National Highway Traffic Safety Administration has closed its probe into Tesla's "phantom braking" issue after complaints dropped sharply and found no crashes tied to the problem, deeming it a low safety risk that had been addressed by software updates WSJ. In broader tech, Alphabet Inc. has gained $2 trillion over the past year, marking a significant performance for the company.

Luxury & Retail

Chanel agreed to buy Charvet, the historic Parisian shirtmaker founded in 1833, known for its €655 ($746) linen shirts favored by figures like Winston Churchill. This acquisition marks a rare move for the fashion house, expanding its offerings beyond its iconic handbags WSJ. Meanwhile, Nestle noted consumers are shunning mid-sized product packs due to a price squeeze, leading them to opt for bulk or budget-friendly options.

Defense & Aerospace

Europe's rearmament efforts have faced setbacks, with a German warship program reversal impacting a landmark tank IPO Bloomberg. However, German drone maker Quantum Systems raised $1.2 billion at an $8 billion valuation to boost drone production and invest in autonomous systems. The company is also weighing a merger with Stark, a kamikaze drone startup, a move that was previously opposed by shareholders before the latest funding round FT. BAE Systems' next-generation combat jet development is also benefiting from increased defense funding and new technologies that are speeding up development and cutting costs for military equipment FT.

Energy & Commodities

India plans to expand oil reserves and storage capacity and deepen supply partnerships to hedge against price volatility, particularly following the Iran war's impact on supply chains Bloomberg. The nation aims to build strategic reserves of crude, LPG, and LNG sufficient for a month's demand. Saudi Arabia's crude oil exports have surged to near pre-war levels as more tankers exit the Strait of Hormuz, indicating increased regional production following an interim peace deal Bloomberg. China has also lifted some fuel export curbs due to ample domestic supplies Bloomberg. However, Qatar's LNG export revival is faltering, with fewer gas tankers making the risky crossing of the Strait of Hormuz Bloomberg.

Fixed Income & Credit Markets

Treasury yields and the dollar fell as job creation in the U.S. slowed more than expected in June WSJ. This weaker-than-expected jobs report prompted traders to scale back expectations of Federal Reserve rate hikes Bloomberg. U.S. stocks advanced as the employment data diminished the prospect of an imminent Fed rate hike Bloomberg. Gold prices rose as traders weighed the Fed's monetary policy path following remarks from Chairman Kevin Warsh Bloomberg. In credit markets, two Blue Owl Capital private credit funds again imposed withdrawal caps due to significant redemption requests, totaling $4.7 billion in the second quarter, though this figure declined from the previous quarter WSJ. Leveraged ETFs are seeing increased use by investors to amplify bets on AI stocks, magnifying swings in companies like SK Hynix Bloomberg.

Corporate & Dealmaking

Comcast co-CEO Brian Roberts plans to split the company, a move aimed at unlocking growth for the integrated cable giant. The planned spinoff of NBCUniversal positions it as a potential major deal target within the media and entertainment sector WSJ. Banks have secured enough investor demand to finance most of the approximately $49 billion debt package backing the Paramount Skydance takeover of Warner Bros. Discovery Bloomberg. JPMorgan Chase is participating in a $7 billion loan facility for Qatari firm projects in Syria, alongside Gulf lenders Bloomberg. Tankmaker KNDS has postponed its initial public offering, citing market conditions Bloomberg.

Emerging Markets

Adani Enterprises is seeking to raise $1 billion through a share placement to institutional investors. India's equity capital markets are on track for another record year, with SBI Funds Management planning an IPO that could raise up to $1.2 billion in July Bloomberg. Argentina's stellar bond rally faces headwinds from upcoming presidential elections, reviving concerns about the country's economic past Bloomberg. Colombian President-elect Abelardo de la Espriella stated his administration will seek to refinance the nation's debt to extend maturities and lower borrowing costs Bloomberg. Investors are pulling back from Central American and Caribbean government bonds after a period of strong returns in emerging markets Bloomberg.

Labor & Economy

The U.S. labor market showed signs of slowing in June, with hiring decelerating sharply even as the unemployment rate dipped to 4.2 percent Bloomberg. Average hourly earnings remained steady, suggesting the labor market may not be a primary source of inflationary pressure, providing Federal Reserve Chairman Kevin Warsh room to focus on inflation NYT. The U.S. economy created fewer jobs than anticipated in June, tempering some of the job growth momentum seen earlier in the year WSJ. Extreme heat waves are posing a persistent drag on economic activity WSJ, with France experiencing significant poultry and corn crop losses due to record temperatures Bloomberg.

Other Markets

SpaceX's IPO orders were confirmed by Mirae Asset Securities, disputing a previous report. Power producer Genneia SA has filed for an initial public offering in New York, aiming to be the first Argentine company to IPO in the U.S. since 2019 Bloomberg. The European Court of Justice upheld a €4.1 billion fine against Google for its Android practices, a significant win for the EU's antitrust efforts against Big Tech. Bitcoin slid below $60,000 amid renewed market anxiety Bloomberg. South African Constitutional Court dismissed Credit Suisse from a suit alleging rand-fixing manipulation Bloomberg.