Public Markets 3 Days

Last updated: August 13, 2026, 5:33 PM ET

Public Markets

A wave of cool inflation data propelled U.S. stocks to fresh records, with the S&P 500 closing at a record high after the latest producer price report eased interest-rate fears. The stocks hit new highs on the inflation relief, though Coach owner Tapestry tumbled and Workday soared. U.S. futures edged higher after the subdued inflation data, while oil, Treasury yields, and gold were all lower. The Stock Market Today saw the S&P 500 heading for a record as yields retreated, driven by AI enthusiasm and receding rate-hike expectations. However, U.S. stocks slipped the following session as oil prices rose, and the Nasdaq lost 0.6% in a second-straight losing session. The market wrap showed stocks rising to striking distance of a record after the CPI report matched expectations. The Fed’s rate path became clearer as traders pared bets on rate hikes amid a retreat in oil prices. Benign inflation data offered a reprieve to the Fed as it weighs a rate increase, but has not resolved the debate. Bond investors are signaling they want the Fed to raise rates, while the jobless boom has arrived with the stock market thinking the economy is accelerating, though jobs are not expected to follow.

Fixed Income & Currencies

The US sold 30-year bonds at the highest borrowing costs since 2001, as yields jumped amid concerns over mounting public debt. This costliest US bond sale since 2001 is an investor warning to Treasury Secretary Bessent. Trend-chasing funds have record short bets against global bonds, raising the stakes for inflation data. The bond market inflated the Powerball jackpot to $1 billion. Meanwhile, inflation protection is on sale, with TIPS looking like a bargain for the near term. The WSJ Dollar Index ended Tuesday flat. BlackRock’s Rieder says the yen rebound hinges on BOJ hawkishness, while the yen’s future may need saving again soon as the effects of government action fade. The Japanese drama of the yen is no sideshow for U.S. markets. The yuan’s march against the dollar may resume next month as seasonal factors lift the Chinese currency.

Commodities & Energy

Comex gold settled 1.03% lower at $4,363.60, snapping a four-session winning streak. Crude futures pulled back after days of gains, with the U.S. and Iran both claiming control over the Strait of Hormuz. Middle Eastern oil shipments arrived at US ports, easing supply pressure. A second supertanker was seen loading at the Saudi oil hub in the Persian Gulf. Gulf oil giants are spending billions to build ways around the Strait of Hormuz. Russian diesel flows are at their lowest in years as drones hit refiners. U.S. natural gas futures fell as inventories rose, with an above-estimate 36 Bcf weekly build. U.S. natural gas futures later gave back some gains. India urea offers declined 12% as the war supply squeeze eased. Oil and gas roundup details market talks on RWE and Korea Power. The basic materials roundup covers gold, silver, and palm oil. US fuel prices will likely stay high until a deal with Iran.

Equities, Sectors & Major Moves

Technology & AI

Applied Materials posted higher profit and revenue on continued AI demand. AMD is set to raise $4.75 billion in a debt sale as AI demand surges. Cisco reported a sharp jump in profit as AI orders roll in. Lenovo’s AI-driven revenue boost sent its stock to a new record. Foxconn is ramping up global AI server production, riding booming cloud investment. China’s SMIC posted an earnings beat as mature-node orders surged. Tencent’s WorkBuddy sparks AI turnaround hopes after a stock rout. European AI stocks drove Stoxx 600 gains despite low tech exposure. Wall Street wants another half-trillion dollars for the AI boom. AI has opened big holes in cyber security, requiring urgent investment. Nearly 14,000 crypto holders face security risk after a Trezor data breach. The tech, media & telecom roundup covers Cerebras Systems and tech sector credit. The recovery in wind energy is picking up speed. Codelco gets a reprieve from Chile as demand for copper explodes. Nvidia remains an unaffordable must-have for Wall Street. Elon Musk is leaning into fossil fuels for AI, with SpaceX planning a Texas natural gas plant.

Consumer, Retail & Industrials

Tyson Foods will exit more beef plants due to a cattle shortage, the lowest in 75 years. Tyson will close additional plants as the US beefpacking industry restructures. Brinker International forecast continued growth on Chili’s momentum. Tapestry investors wonder how long Coach can excel as the brand led Q4 growth with a soft outlook. Cracker Barrel’s CEO was plotting a turnaround but opened the door to her own exit. JD.com beat profit and revenue expectations as food-delivery losses narrowed. Air India will conduct one-off drug tests for its over 5,000 pilots. Hertz shares fell after Ackman’s Pershing Square sold its stake. Workday shares surged after a report that Silver Lake is in talks to buy the company. Bill Ackman called his new fund’s slumping stock price “frankly absurd.” Selena Gomez was accused of fraud by mental-health startup investors. StubHub profits were erased by the World Cup ticket fiasco, sending the stock down. Polestar was sued by a dealer who claims the automaker “orchestrated” its U.S. ban. Godrej Consumer shares plunged after the CEO’s sudden resignation. ZUS Coffee is said to explore a Malaysia IPO to raise at least $245 million. Maersk shares rose as higher freight rates triggered a guidance raise. Hapag-Lloyd earnings recovered on strong Asia exports. The auto & transport roundup offers insight on Hapag-Lloyd and Maersk. Adyen shares jumped over 9% after strong earnings. Adyen soared most in a year after acquisitions boosted the sales outlook. JLR owner missed profit estimates, stung by luxury unit weakness. Origin Energy shares rose most in six months as earnings beat estimates. CK Hutchison profit jumped sharply on a boost from asset sales. Rakuten shares dropped as mobile losses fuel investor fears.

Financials & Real Estate

Goldman Sachs is bullish on active ETFs with its purchase of the SPYI and QQQI issuer. EY vaulted from bottom to top of the Big Four US audit quality league table. Morgan Stanley will facilitate a $1.5 trillion infrastructure initiative. Jane Street priced a $14.6 billion debt deal with an 8% 10-year yield. Norway’s fund CEO says he’s more nervous after record returns. La Caisse posted a 5% first-half return as stocks rallied but private equity slumped. The housing crisis fuels a surge in mortgage muni bond securitizations. Chile’s new investor is set to fuel a capital market boom. Canary Wharf Group sold a Soc Gen office in a £625 million deal. Minor International delayed a $1 billion REIT plan. DWS backed an insurer, eyeing private markets mandates. The health care roundup covers KPJ, Apotex, and Novo Nordisk.

M&A & Deal Making

Diversified Energy is near a $1.7 billion deal for Elliott-backed Birch Resources. The Lakers’ owner got a $12.5 billion offer to buy the team in 72 hours. The $12.5 billion deal for the Lakers reflects the huge profit potential of sports franchises. Bob Iger and Joshua Kushner’s bromance led them to the Lakers. TPG agreed to buy South Korea’s Lotte Rental for $925 million. Shein lost a UK copyright lawsuit against Temu. UAE and Qatari firms are making their debut in Venezuela through a BP-led gas deal. Antofagasta cut production guidance after heavy rain in Chile. Old Mutual shares traded again in Zimbabwe after a six-year halt. China’s coal-to-chemicals push pays off with record profits. CSN reported a 10th consecutive loss as it grapples with debt. The SEC weighs direct funding for a costly market-tracking database. Fintech Chime explores stablecoins as a new feature on its app. Switzerland pushes ahead with a post-Credit Suisse crackdown. The 351 conversion ETF is the ultimate tax deferral. Harrods fights with the Al Fayed estate over hundreds of sex abuse claims. Paramount’s brinkmanship is being tested as David Ellison threatens to pull the company out of California. Elliott names candidates for the board of Northern Star. Northern Star spurns the Elliott push to revamp its board. Nigerian Central Bank widens access to open market operations. Hannover Re posted lower net profit on a currency hit.

Global Markets & Risk

European indexes were mostly higher, though London’s FTSE 100 was hit by an Antofagasta guidance cut. The Hot Stoxx summer shows European equities finally matching US exuberance. Seoul soared past Dubai as the world’s busiest international airport. Taiwan warned against Uganda travel as passport disputes grow. Global investors favor Taiwan over Korea stocks after the AI selloff. Korean stocks are on fire again with less excess. South Korea orders new investors to take classes after a single-stock trading frenzy. Foreign investors flee Brazil stocks at the fastest pace since 2021. Brazil election jitters are hitting a favorite carry trade. Sri Lanka is reducing reliance on foreign debt by boosting domestic bonds. The FTSE 100 joined the global rally as the UK economy grew. GoTo faces MSCI index removal after a share plunge. China’s free-trade-zone bond market revived after a crackdown. The price of niche rare earth erbium jumps on fears of renewed Chinese export controls. Big Tech drives up credit risk for safe firms with no AI links.