Public Markets 3 Days

Last updated: August 6, 2026, 2:30 PM ET

US Equities and Market Movers

U.S. stocks saw a downturn, with the Dow Jones Industrial Average being pulled lower by declines in shares of Salesforce, Boeing, and United Health. The S&P 500 has seen traders flocking to call options, signaling a broad rally where the index has been overshadowed by the more volatile Nasdaq. Treasury yields have seen a slight increase across the curve, with short-dated yields rising more significantly as investors anticipated Federal Reserve rate hikes aimed at curbing inflation. However, Treasury yields later ticked down following weaker-than-expected private payrolls data, preceding the official Bureau of Labor Statistics employment report. In a notable move, United Wholesale Mortgage shares plunged by a record 49% after the company reported a net loss of $452 million and suspended its dividend for the first time.

Corporate Earnings and Outlooks

Restaurant Brands International reported a rise in second-quarter profit, largely propelled by a strong performance at Burger King U.S., which defied a broader trend of slowing fast-food demand. Burger King's revamped Whopper is contributing to market share gains, amidst McDonald's own recent overhaul of the Big Mac. Krispy Kreme managed to narrow its loss in its latest quarter and expand margins, continuing its progress on a turnaround plan. Conversely, Planet Fitness Inc. reduced its profit outlook due to investments in marketing and pricing adjustments aimed at boosting sluggish member sign-ups. Peloton Interactive issued a muted revenue outlook for fiscal 2027, as deepening subscriber losses overshadowed fourth-quarter profit gains and relatively flat revenue. Molson Coors Beverage saw its second-quarter sales decline as the company grappled with balancing weak consumer demand against rising supply costs.

Technology and AI Sector Performance

Alphabet Inc. received approximately $115 billion in orders for its latest jumbo bond sale, indicating a renewed investor appetite for debt linked to the artificial intelligence boom following a recent selloff. Datadog reported continued growth in the second quarter but issued a full-year sales outlook below Wall Street estimates, citing potential impacts from reduced usage by a major AI customer. ON Semiconductor reported higher second-quarter profit and revenue driven by its expanding business in AI data centers, with net income rising to $226.8 million from $170.3 million a year prior. In the realm of AI infrastructure, Lumilens, a company developing optical gear to accelerate data flow between AI servers, secured new funding at a $5.5 billion valuation. SoftBank, aiming to become a leader in AI data centers and robotics, is leveraging its stake in OpenAI to secure a $10 billion loan. Google has restructured its senior AI leadership, with Demis Hassabis taking on a new role, reflecting internal shifts at the technology giant amidst ongoing investor concerns.

Energy Markets and Commodity Movements

imports of Saudi Arabian oil dropped to zero in July, marking the first time this has occurred for an entire month since 1985, according to preliminary government data. Crude oil futures declined to a three-week low on the possibility of an agreement to reopen the Strait of Hormuz. OPEC's crude production saw an increase in July, led by gains in Kuwait, Saudi Arabia, and Iraq, although tracking the group's output remains complicated by opaque shipping data. BP announced its intention to sell its U.S. strong oil profits, driven by trading and higher energy prices, boosted its overall earnings. Diamondback Energy raised its production guidance and reported surging profits due to high oil prices, benefiting from the market dynamics following the start of the war in Iran.

International Markets and Trade

European stocks advanced for a fourth consecutive day, buoyed by strong earnings reports, with WPP Plc leading gains in the media sector. WPP Plc shares experienced their largest single-day gain since their 1995 initial public offering, as the advertising agency's turnaround efforts show increasing momentum. Mexico is enhancing security measures in Michoacan to facilitate the resumption of avocado exports, following a U.S. suspension of government activities in the state due to recent violent incidents. China's primary steel industry group advocated for increased use of yuan-denominated index pricing in the iron ore market, arguing that such a shift would better reflect supply and demand dynamics for the world's largest consumer of the commodity. India's central bank has undertaken a rare initiative to repatriate savings from its diaspora, raising $40 billion to support the nation's weakening rupee, which has seen stronger-than-expected inflows.

Financial Services and Investment

BlackRock TCP Capital is transferring nearly half of its debt investments, totaling $523 million, to a fund backed by Pantheon, and the lender is reportedly considering further significant adjustments. Blackstone Inc.'s publicly traded private credit fund saw a 94% drop in second-quarter profit, attributed to a decline in the value of its holdings, although the performance of its loans remained stable. DBS Group Holdings delivered second-quarter profit exceeding estimates, driven by a surge in wealth management fee income, and consequently raised its 2026 guidance. Met Life Inc.'s second-quarter earnings surpassed Wall Street expectations supported by robust underwriting, volume growth, and the successful execution of a five-year strategic plan. Commerzbank CEO Bettina Orlopp has called for constructive dialogue with UniCredit following the Italian bank's acquisition of a near-majority stake in its German competitor.

Real Estate and Infrastructure

Real estate investment trusts (REITs) in the U.S. market have delivered the best returns over the past decade, with funds focused on data centers leading the performance. The Rhine River, a critical artery for European industry, is experiencing record low water levels due to drought, disrupting supply chains, increasing costs, and posing fresh risks to economic growth. Repeated heat waves and droughts this summer have placed Europe's power system on high alert, with dwindling hydropower reserves in key markets threatening to drive up electricity prices later in the year. A new report suggests that meeting data center demand predominantly with natural gas could expose utility customers to financial risks.

Geopolitical and Social Issues

The Iran-backed Houthi militia claimed responsibility for targeting armed forces in two Yemeni provinces, escalating violence that imperils a fragile truce and threatens to reignite the civil war reportedly considering a plan to halt key metal waste exports as part of an effort to reduce reliance on China, while White House AI guidelines exempt U.S. open models from government review. The U.S. government has canceled a tender to purchase $300 million worth of lithium for its strategic stockpiles, indicating challenges in bolstering supplies of critical minerals. An indictment has been brought against an Israeli settler in connection with the killing of activist Awdah Hathaleen, a rare instance of Israeli authorities pressing charges against an Israeli national in the death of a Palestinian.

Other Notable Business Developments

Federal Communications Commission voted 2-1 to eliminate the national television ownership limit, opting instead to review proposed station acquisitions on a case-by-case basis. In the fast-food sector, Burger King's turnaround efforts are gaining momentum, contributing to Restaurant Brands International's increased profits. Papa John's has lowered its annual outlook and suspended its dividend, as its North American business continues to face a subdued consumer environment. Versant Media experienced a jump after the company raised its full-year outlook, despite reporting lower sales in its third earnings report since being spun off from Comcast.