Public Markets 3 Hours

Last updated: May 22, 2026, 11:32 AM ET

Equity Markets

Canadian stocks jumped to record territory on Friday, buoyed by financial and technology shares that pushed the benchmark to its highest mark since early March. S&P 500 earnings growth accelerated to the fastest pace in five years as momentum spread beyond artificial intelligence-driven gains across corporate America. US equities advanced toward an eighth weekly gain as investors struck an upbeat tone ahead of the holiday weekend, with AI enthusiasm and Middle East conflict resolution hopes fueling the rally.

M&A & Corporate Transactions

Apollo Global Management launched a £1.5 billion takeover bid for Bodycote, the latest attempt by the US firm to acquire the FTSE 250 components group. Shein completed its purchase of Everlane, bringing the millennial-focused transparent fashion retailer under the Chinese fast-fashion giant. Charlotte Tilbury's buyout negotiations complicated Estée Lauder's European acquisition strategy, as the British makeup entrepreneur sought to rework terms on her sale to Spanish beauty company Puig.

Market Structure & Corporate Actions

GameStop's board proposed increasing authorized shares to 1 billion, supporting the video-game retailer's pursuit of potential acquisition targets including eBay. Bank of America strategist Hartnett cautioned that mega-IPOs from SpaceX and OpenAI could push tech concentration in equity benchmarks toward bubble levels not seen since the 1920s.

Economic Data

Canada's producer prices climbed 2% in April, representing a fourth straight monthly increase that signals persistent industrial inflation pressures.