Public Markets 3 Hours

Last updated: May 3, 2026, 11:30 AM ET

Public Equities & Technology

Equities regained record highs following a swift V-shaped recovery from the recent Iran-related oil shock, leaving investors balancing between two distinct tail risks: the relentless advance of AI-driven semiconductor stocks and broader market volatility. This bifurcation is clearly visible in Big Tech earnings, where firms driving the artificial intelligence boom posted strong results, yet market reception is becoming increasingly granular based on specific AI exposure. Separately, the pioneering search engine Ask.com ultimately ceased operations on May 1st, closing its doors after nearly three decades in the digital space.

Energy & Geopolitics

Disruptions in the Strait of Hormuz are forcing a structural re-alignment of global energy flows, positioning the US as the essential supplier of last resort for Asian allies like Japan and Thailand. Tankers are loading along the US Gulf Coast and Alaska before heading back into critical waterways, a testament to the severity of supply chain fraying. Meanwhile, domestic renewable energy infrastructure faces headwinds as the Trump administration is stalling 165 wind farm projects, citing national security concerns as the President tightens restrictions on the industry.