Public Markets 3 Days

Last updated: August 10, 2026, 5:32 AM ET

Equities

U.S. stocks notched fresh records, with the S&P 500 and Nasdaq capping their best week since April after a surprise contraction in July payrolls allayed rate-hike fears. Market gains extended into the new week as futures ticked higher on Monday. Blockbuster earnings from America’s largest companies have helped ease worries about AI spending and inflationary pressures, leaving stock funds up 10.6% so far in 2026.

European indexes started the week mixed, with the Stoxx 600 and Germany’s DAX extending Friday’s record highs, while France’s CAC 40 and London’s FTSE 100 were lower. Investors are returning to European stocks as strong earnings lift the Iran war gloom, with companies in the Stoxx Europe 600 on track to deliver a 22% increase in second-quarter profits. Europe’s stock market is firing on all cylinders, drawing money managers who say this rally will be more durable than just another short-term trade. However, the FTSE 100 is set to fall as the pound steadies.

Asian markets saw significant moves. South Korea’s small-cap stocks surged 30% as a rotation from leveraged ETFs tracking heavyweight chipmakers fueled buying. Indonesian stocks are nearing bull-market territory, buoyed by a resilient economy and easing market concerns. Emerging-market stocks also climbed after the soft US jobs data.

Fixed Income & Monetary Policy

Treasury yields fell after July’s weaker-than-expected payrolls report showed the economy lost 23,000 jobs, with traders scaling back rate-hike bets. Gold held above $4,400 an ounce after its best weekly performance since January, and gold steadied above $4,300 as a surprise contraction in the US jobs market allayed rate-hike concerns.

Eurozone government bond yields rose slightly amid uncertainty over US-Iran negotiations to reopen the Strait of Hormuz. The Bank of Japan faces a challenge as its intervention boost fades. JGBs fell as the BoJ signaled faster rate hikes.

Currencies & Foreign Exchange

The euro was flat against the dollar after reaching a seven-week high, with ING saying upcoming US CPI data could lift it above $1.16. The yen has underperformed all Group-of-10 peers this month as the boost from intervention fades, putting traders on alert for further official action. Hedge funds sharply reduced bearish bets on the yen after coordinated US-Japan efforts.

The Australian dollar is poised to climb back toward a 35-year high against the yen as the RBA’s hawkish stance bolsters the currency. Emerging Asia central banks are increasingly finding ways to support their currencies without dipping into foreign-exchange reserves, amid recurring Middle East tensions.

Commodities & Energy

Oil prices rose Friday but finished down on the week, with WTI settling up 1.2% at $78.18 a barrel and Brent up 1.3% to $83.55. Oil was broadly flat on Monday, with US futures mostly higher ahead of key US CPI data. Oil rose again amid growing doubts that the Strait of Hormuz can reopen soon, bolstering supply-disruption concerns. Oil held onto gains as Iran and Oman remained short of a deal to reopen the strait.

Gold held above $4,400 ahead of US inflation data. US natural gas futures posted their seventh consecutive weekly loss. Wheat futures jumped to the highest in more than a week on Black Sea shipping disruptions. A diesel squeeze is setting the stage for a winter fuel crunch. Iran’s oil exports have stalled under a US blockade.

IPOs, Private Markets & Deal Flow

Private-equity firms are pouncing on the hot IPO market to exit investments, as sluggish dealmaking makes it hard to find buyers. London markets need capital to revive, the LSE’s deputy CEO said, as major UK companies move primary listings to the US. SpaceX shares neared its IPO price again after a $327 billion rally. Situational Awareness bet $400 million on stealth chip startup Source Foundry.

DatVietVAC is pursuing a Vietnam IPO as it looks to the Korean playbook. Shein is valued at $22-$25 billion ahead of its IPO. Whatnot has nearly doubled its valuation to $20 billion in new funding. Skyrockets are soaring, but there are challenges.

Market Structure & Regulation

US Treasury auction cutbacks sparked a debate about bond market yields. High-frequency traders are shunning India’s stock closing auction over SEBI short-selling hurdles. A leveraged ETF boom is amping up Wall Street intraday momentum plays. Tighter federal mortgage rules will require many condominium associations to raise dues.

Geopolitical Impact on Markets

Hopes for a breakthrough on the Strait of Hormuz were dashed over the weekend. Iran hardened its rhetoric, demanding the US meet new conditions before reopening the strait. Iran demanded a US withdrawal to open Hormuz. Tehran laid out difficult conditions. Oil climbed and stocks dipped as the Iran war stalemate continued.

Company & Sector Commentary

Gucci is breaking luxury’s penny-pinching taboo by reducing overheads to lower prices. Shein is valued between $22 and $25 billion ahead of its IPO. Ford plans a four-door version of the Mustang. Barrick Chairman’s planned overhaul met investor backlash.

AI & Tech Influence on Markets

China is betting on AI stocks as it races the US for chip and tech dominance, marking a break from reliance on subsidies. CICC is leading China’s AI listings bonanza. AI is driving everything from strategy to menus. Todd Boehly’s group is rolling out AI to Chelsea and A24.