Public Markets 3 Hours

Last updated: May 22, 2026, 8:30 PM ET

Regulatory & Legal

The Trump administration's new policy requiring foreigners to leave the U.S. to apply for green cards sparked labor market concerns, with businesses warning of higher turnover costs and operational hurdles for hundreds of thousands of employees. The move coincides with a court dismissal of human smuggling charges against Kilmar Armando Abrego Garcia, a case the judge called retaliation by the administration, delivering an embarrassing legal blow to its deportation agenda. Separately, a lawsuit alleges Trump’s $1.8 billion victim compensation fund excludes targeted individuals, potentially exposing the government to further litigation.

M&A & Corporate

Brazilian infrastructure firm Equatorial opted against bidding for a stake in Minas Gerais’ water utility Copasa, dampening the state’s privatization drive and signaling caution toward politically sensitive assets. The decision follows a trend of private equity reticence in Latin American utilities amid regulatory uncertainty. Meanwhile, a Ford F-150 crew cab sits immobilized at a Kansas dealership under federal migratory bird protections after robins nested on a tire, a quirky operational snag illustrating how environmental law can disrupt automotive retail logistics.

Space & Tech

SpaceX launched its next-generation Starship on a largely successful test flight, sending the 400-foot rocket on a one-hour journey ending in the Indian Ocean. The vehicle is central to Elon Musk’s ambitions for Starlink expansion and deploying AI satellites, though the company has yet to secure regulatory approval for operational orbital missions that would generate revenue.