Public Markets 3 Days

Last updated: August 13, 2026, 5:32 AM ET

Global Equities

U.S. stocks ended mixed Tuesday as a lack of progress on Strait of Hormuz talks lifted oil prices and weighed on risk appetite. The S&P 500 fell 0.3%, while the Nasdaq managed a slim gain as AI-related names rallied. Futures pointed higher Wednesday after benign inflation data reinforced expectations the Fed will hold rates steady. In Europe, the Stoxx 600 rose 0.4%, powered by energy and technology stocks. London’s FTSE 100 lagged as copper miner Antofagasta cut its production guidance. Asian markets surged on AI enthusiasm: South Korea’s Kospi entered a technical bull market, jumping 22% in ten days, while Japan’s Nikkei added 1.8% on chip and electronics gains.

Fixed Income & Rates

The U.S. government is poised to sell 30-year bonds at the highest yield in a quarter of a century, following a historic selloff that has raised speculation about a tilt toward shorter-dated borrowing. Treasury yields recovered partially from morning declines after July’s CPI report came in line with expectations. The data eased fears of a rate hike, with Pimco arguing market angst over Fed credibility is overdone and current yields look attractive. In Europe, gilt yields fell as an oil rally revived inflation worries. Trend-chasing funds have built record short bets against global bonds, raising the stakes for the latest inflation data. In Asia, Indonesian bonds, the region’s worst performers, may bounce back as a new central bank chief supports the currency.

Commodities & Energy

Oil futures slipped early in the week on a weaker demand outlook and stalled Strait of Hormuz talks, then ended little changed as caution prevailed. OPEC cut its oil-demand forecast again, while Russia’s crude output lagged its quota by almost 1 million barrels a day after Ukrainian drone attacks. The U.S. expects Iran war disruptions to crimp about 600,000 b/d through end-2027. Gulf oil giants are spending billions to build bypass routes around Hormuz. Gold wavered near $4,400/oz as tame inflation eased rate-hike bets, while silver snapped a winning streak. U.S. natural gas futures rose on hotter weather forecasts. Aluminum extended its fall after a major Middle East smelter said it would restore production earlier than expected.

Currencies & Emerging Markets

The dollar recovered partially from morning losses after inflation data. Emerging-market currencies traded mixed, with an early rally fizzling as the dollar reversed. The yuan may resume its march against the dollar in September, supported by strong exports. Taiwan dollar options saw a surge in bullish bets after the currency’s worst July since 2015. China authorized Deutsche Bank as the first non-Chinese yuan clearer in Europe.

Corporate Earnings & Strategy

Adyen shares jumped more than 9% after first-half earnings rose and the Dutch payments company raised its 2026 sales outlook following its first-ever acquisitions. Lenovo shares hit a record after AI-driven revenue beat estimates; the company expects to reach $100 billion in revenue this fiscal year. Cisco reported a sharp jump in profit as AI orders rolled in. Super Micro Computer posted a quarterly profit of $1.17 billion, up from $195 million a year ago. Maersk raised its guidance on higher second-quarter results and a forecast of 4% global container market growth. Hapag-Lloyd earnings recovered on strong Asia exports and U.S. demand. ANZ profit climbed on deposit growth and business lending expansion. Constellation Software profit surged on acquisitions. Brinker International forecast continued growth as Chili’s momentum attracts value-seeking diners. Cracker Barrel CEO Julie Masino exited after a controversial rebranding. StubHub failed to turn a profit as costs outpaced World Cup revenue. On Holding tempered its sales outlook after deliberately slowing wholesale growth.

IPOs & Offerings

Anthropic investors are betting on a $2 trillion valuation in what could be the biggest IPO in history, as the AI company races to public markets. Shein is said to consider August 28 for its Hong Kong trading debut. Chinese robot maker Unitree raised $900 million in an IPO that was 5,500 times oversubscribed by retail investors. QTS held investor calls ahead of a potential $2.85 billion bond sale in the data-center sector. DMG Mori seeks $302 million in a Japan share sale. Gainwell Technologies launched the next leg of a $5.8 billion debt overhaul, the largest U.S. software junk deal of 2026.

Sectors & Thematic

Technology & AI: Europe’s AI stocks drove Stoxx 600 gains despite the region’s low tech exposure. Nvidia remains the favorite, but private capital firms are betting its chips will hold value for years. A half-trillion-dollar effort by six giant firms aims to raise money for Nvidia customers. Cerebras swung to a $450.5 million Q2 loss but raised its full-year outlook. CoreWeave’s forecast will determine if its recent rally is sustainable.

Energy & Commodities:

Saudi Arabia reported a 1 million b/d output rebound in July. Russia’s crude exports tumbled to their lowest since May as refiners boosted runs. North Sea oil producers are being told to speed up well closures, with a £16 million fine already issued. China’s coal-to-chemicals push delivered record profits for Ningxia Baofeng. Colombia coffee exports partially resumed after the earthquake. The USDA made a surprise cut to corn yield projections, now at 180.7 bushels/acre.

Banking & Financials:

JPMorgan raised its Singapore stocks target as economic growth holds. Goldman Sachs is doubling down on “boomer candy” buffer ETFs. New York City’s pensions gained 13% on surging U.S. stocks. The Norway fund achieved a record first-half return, though its CEO says he’s more nervous. Deutsche Bank’s DWS is partnering with Frankfurter Leben to access insurance capital pools.

Consumer & Retail:

Treasury Wine Estates shares jumped 6.4% as China demand offset a steep earnings drop. Chobani cut its annual earnings forecast on rising material costs. Domino’s will release a new individual-size pizza as more Americans eat meals alone. Buc-ee’s trademark blitz sparked a backlash.

Real Estate & Housing:

Australia housing prices fell, making financial conditions more restrictive according to an RBA official. Singapore property firms reported improved first-half profit. Korea stepped up home supply and raised the household debt cap.

IPO & SPAC:

The battle for control of India’s $280 billion Tata Group enters a turbulent transition as the chairman steps