Public Markets 3h Briefing

Market Reaction

Stocks fell bloomberg.com across major U.S. indexes as the Middle East war intensified, driving a flight to safety. Bond traders bloomberg.com sharply scaled back bets on Federal Reserve rate cuts, with inflation concerns resurfacing. The S&P 500 snapped a two-week winning streak.

Earnings & Guidance

CrowdStrike wsj.com posted a quarterly profit of $38.7 million, swinging from a year-earlier loss as sales rose 23%. Ross Stores bloomberg.com forecast same-store sales growth for the coming year that exceeded estimates, fueled by discount-seeking consumers. On Holdings bloomberg.com shares dipped sharply after its sales outlook missed forecasts, though CEO Martin Hoffmann cited strong Asian demand.

Corporate Deals & Strategy

News Corp wsj.com secured a multiyear AI content licensing pact with Meta worth up to $50 million annually. Target bloomberg.com under its new CEO outlined an overhaul centered on trendy food, in-store beauty services, and a baby product revamp to reignite growth. Paramount bloomberg.com is poised to join the largest junk bond borrowers after F downgraded its credit rating following the Warner deal.

IPOs & Capital Markets

SpaceX bloomberg.com added Citigroup to the banking lineup for its upcoming IPO, moving closer to a public listing. NYSE’s Martin bloomberg.com asserted that global conflicts, including the Iran strikes, would not completely halt U.S. public offerings. The dollar bloomberg.com saw renewed demand in currency swaps markets as geopolitical risk spiked.

Regulatory & Oversight

Goldman Sachs wsj.com faces a House Oversight Committee request for its general counsel to testify regarding the bank’s ties to Jeffrey Epstein, part of a continuing investigation.