Public Markets 3 Hours

Last updated: May 25, 2026, 11:30 AM ET

Energy & Shipping

Oil futures dropped 5.3% on optimism about a potential U.S.-Iran nuclear deal that could reopen the Strait of Hormuz, though investors remain skeptical about the timeline for clearing a backlog of 1,500 stranded vessels. The dollar extended its slide on the same deal prospects, while two LNG tankers and a crude carrier crossed the strait over the weekend, the first movements signaling a fragile normalization. Meanwhile, Guinea plans to unveil export controls on bauxite in June, aiming to bolster ore prices that have already fueled a surge in aluminum, lifting China Hongqiao's Zhang Bo's fortune to $48 billion.

Forex & Rates

The dollar's fall accelerated against majors as Iran nuclear talks progressed, though the Czech premier urged an immediate rate cut despite growing inflation risks from energy prices, creating a policy divergence in Central Europe. Traders are now pricing in a September Fed cut at a 70% probability, tracking Treasury rallies that lifted Japanese government bonds.

Equities & Risk

U.S. stock index futures rallied on the Iran deal hopes, but gains were capped by geopolitical uncertainty. In Africa, the continent's largest exchange is tightening algorithmic trading rules to prevent disruptive errors, while Nigeria's first-quarter GDP grew at a slower pace as its oil sector contracted, testing investor sentiment toward frontier markets.

Other Developments

SpaceX's valuation is targeting a potential $250 billion IPO as Elon Musk aims to privatize space access, while a controversial boycott vote at a Brooklyn co-op has deepened local political divisions. A protected bird's nest has halted a Ford truck sale in Kansas, highlighting federal wildlife law impacts on retail operations.