Public Markets 3 Hours

Last updated: May 25, 2026, 5:30 AM ET

Energy & Geopolitics

Oil futures dropped below $100 on optimism over U.S.-Iran peace talks, while European natural-gas prices slid 5% on similar hopes of a Strait of Hormuz reopening. The dollar fell to a one-week low as bond yields dropped, tracking the diplomatic momentum. A little-known Swiss trader facilitated Iraqi crude shipments through the Hormuz chokepoint earlier this month, underscoring the fragile logistics that talks now aim to stabilize. Gold prices rose above $2,340 as a weaker dollar and improved inflation outlook from potential supply disruptions boosted haven demand.

China Capital Flows

A Chinese online brokerage tycoon lost $1.7 billion in a single day after Beijing cracked down on cross-border stock trading, triggering a rush among domestic investors to find alternative exit routes. The curbs, aimed at tightening capital outflow controls, sent ripples through the tech-heavy offshore equity market. Concurrently, China’s new solar installations fell for a fourth straight month in April, highlighting persistent domestic demand weakness that contrasts with the country’s export-driven manufacturing strength.

Corporate & Equity Moves

Uber emerged as Delivery Hero's largest shareholder after acquiring a sizable stake, lifting the German food-delivery firm’s shares on expectations of strategic synergies. The move comes as private aviation firm Madison Air filed for a $500M IPO, targeting a Nasdaq listing amid robust demand for luxury travel. In fixed income, Japanese government bonds extended their rally alongside U.S. Treasurys, with traders pricing in a September Federal Reserve rate cut as global risk sentiment improved.