Public Markets 3 Hours

Last updated: May 26, 2026, 11:30 AM ET

Energy & Geopolitics

Oil futures slid 0.7% on optimism over a potential US-Iran deal to reopen the Strait of Hormuz, even as hostilities flared between Israel and Hezbollah, threatening diplomatic efforts. US natural gas rose to $2.45 per mm Btu as producers curtailed output over the holiday weekend and flows to LNG export terminals increased. Meanwhile, US consumer confidence edged down in May amid widespread price worries linked to the conflict in Iran, adding to economic uncertainty.

Corporate Governance & M&A

SpaceX’s board structure and Elon Musk’s pay package drew scrutiny for favoring the CEO at the expense of other shareholders, according to corporate governance experts. Eli Lilly will spend up to $4 billion to acquire three vaccine developers working on shots for shingles, Epstein-Barr virus, and other pathogens. Warner Bros. Discovery boosted its loan sale for a second time, a move that will allow the media giant to fully replace $15 billion of short-term bridge financing. Groupon will cut nearly a quarter of its workforce as part of a restructuring aimed at rebuilding as an AI-native company. Safepoint Holdings, an insurance underwriter, and some backers seek to raise up to $283.3 million in a US IPO. BP removed chairman Albert Manifold immediately after the board uncovered governance oversight and conduct issues it deemed unacceptable.

Fixed Income & Currencies

US Treasury yields climbed as investors weighed Treasury Secretary Scott Bessent’s limited policy options to halt the rise, which is generating economic headwinds. The European Central Bank signaled it will do “everything in its power” to tame inflation, with officials emphasizing they will have more data at the June meeting to formulate plans. Goldman Sachs analysts said the selloff in UK homebuilder stocks has been excessive and investors are too pessimistic on the sector’s long-term profitability.

Technology & Healthcare

Dropbox co-founder Andrew Houston will step down as CEO after 19 years at the helm and become executive chairman. A Stanford-led study found AI hiring tools are causing “clear racial disparities” in job selection, with candidates failing automated tests facing systemic rejection across multiple companies. Philanthropists launched a $140 million push to develop a Strep A vaccine, a disease that causes a similar number of deaths to malaria and HIV/AIDS but attracts far less funding. Oklo Inc. shares jumped after the Sam Altman-backed nuclear firm said it is in talks to participate in a US Department of Energy program to supply nuclear fuel. Ferrari’s first electric vehicle launch sparked investor and social media backlash amid internal divisions over luxury EV demand.