Public Markets 3 Days

Last updated: August 6, 2026, 5:30 AM ET

Advertising and Media

WPP shares soared more than 20% after the advertising group's turnaround efforts began to show positive results. Revenue less pass-through costs, a key metric for WPP, fell less sharply last quarter due to a recovery in its media-buying operations. The company's improved results follow a comprehensive review aimed at streamlining its businesses. WPP Plc shares experienced their largest single-day gain since its 1995 initial public offering as turnaround initiatives gained momentum.

Technology and Semiconductors

Chip stocks weakened in both Asian and U.S. markets as investor confidence wavered regarding the sustained durability of artificial-intelligence spending. Nvidia chips will be used by SpaceX for its operations, leading to an 8% drop in AMD shares. SpaceX's revenue increased by 92%, driven by robust demand for its cloud services and Starlink. The Nasdaq Composite saw a midday retreat after an earlier rally, while Dow industrials advanced. Palantir forecasts increased demand for its AI software from U.S. clients, with American sales rising 23% in the second quarter.

Automotive and Manufacturing

The tank maker has lowered its sales outlook for the year, anticipating a €300 million impact from a canceled warship project. Despite this revenues have still seen growth due to increased defense spending. The company now expects annual sales to be between $15.83 billion and $16.41 billion, a figure that remains higher than last year's reported revenue. Schaeffler AG plans to reduce its German workforce by approximately 1,300 employees through an enhanced phased-retirement program, citing ongoing weak automotive demand.

Corporate Earnings and Financials

SoftBank Group reported a smaller-than-expected decline in its quarterly net income, aided by a rebound in its chip-stock holdings and anticipation of further gains from its investments in OpenAI. The company's first-quarter profits were impacted by lower gains from its Vision Funds business, following record profits in recent quarters. Nintendo's first-quarter net profit surged 54%, exceeding expectations due to factors like foreign-exchange gains and U.S. tariff refunds. Siemens Energy's profit tripled as orders reached record highs, and the company anticipates achieving the higher end of its fiscal-year profit margin guidance, which it previously set between 10% and 12%. Swiss Re AG's first-half profit surpassed estimates, with all key business units performing in line with targets, and the reinsurer announced additional cost-cutting measures. Zurich Insurance AG reported a 13% profit increase in the first half of 2026, driven by accelerating demand across all its businesses, particularly in global data center and energy infrastructure. DBS Group Holdings Ltd. exceeded second-quarter profit expectations, with wealth management fee income experiencing a significant surge, and the Singaporean lender raised its 2026 guidance. East African Breweries Plc achieved its fastest annual profit growth in four years, despite rising inflation in Kenya impacting consumer spending power.

Deals and Investments

Partners Group is nearing a €2 billion deal to acquire the beauty group Aroma-Zone. French asset manager Eurazeo is in discussions to sell its stake in the company, which offers face serums and food supplements. Glencore will issue depository receipts in Sydney, enabling Australian mining investors to trade its shares locally. Segro has accepted a £14 billion takeover offer from its U.S. rival Prologis, adding to a series of acquisitions of London-listed companies. MML has acquired a 27% stake in the Jersey-based law firm Mourant, which operates in tax havens globally, as part of a private equity rush for legal deals.

Market Performance and Trends

Gold prices remained above $4,300 per ounce, fueled by optimism that a deal to reopen the Strait of Hormuz will alleviate inflationary pressures and reduce expectations for interest rate hikes. Eurozone government bond yields saw a slight increase as investors focused on the potential reopening of the Strait of Hormuz and the upcoming release of key U.S. monthly jobs data. European stock indexes climbed, led by consumer-facing stocks and healthcare companies, as corporate earnings drove market performance. The S&P 500 is nearing a fresh record high, with market gains broadening as the AI trade shows signs of faltering. The WSJ Dollar Index experienced a slight decline, falling 0.16% to 96.01, marking its sixth decrease in the past seven trading days. The WSJ Dollar Index later edged up 0.1% to 96.19, breaking a four-day losing streak. Nickel prices dropped to their lowest level since mid-July amid speculation that Indonesia will increase its ore-production quota for a major mine, potentially increasing supply. Iron ore traded near a 13-month low, potentially threatening higher-cost production. The U.S. shipped a record amount of distillate fuel overseas last week, with domestic stockpiles falling again, indicating a global scramble for diesel is increasingly draining U.S. supplies.