Public Markets 3 Hours

Last updated: May 28, 2026, 8:30 PM ET

Energy & Commodities

Oil futures edged lower after the US and Iran tentatively agreed to extend their ceasefire by 60 days, potentially allowing shipments through the Strait of Hormuz to resume and easing supply disruption fears. Gold prices held gains as the tentative truce agreement between Washington and Tehran calmed inflation concerns, with the precious metal maintaining its recent rally on haven demand.

Equities & Investment Flows

Asian equities were poised to advance following the US-Iran diplomatic breakthrough, with traders pricing in reduced geopolitical risk across regional markets. China's troubled consumer-focused funds are pivoting toward tech investments as a prolonged demand slump forces even the sector's most committed backers to abandon traditional retail strategies.

Retail & Consumer Discretionary

Gap Inc. cut its full-year sales outlook to 1% to 2% revenue growth, down from the previous 2% to 3% forecast, citing slower momentum at its Old Navy brand as consumer spending patterns shift. American Eagle Outfitters flagged declining sales in its core women's category during the first quarter, confirming broader weakness in apparel retail as the segment underperforms management expectations.

Regulatory & Corporate Affairs

ABC accused the Federal Communications Commission of threatening its station licenses in what it called "unconstitutional retaliation," escalating tensions between the broadcaster and federal regulators. Meanwhile, Bari Weiss named Nick Bilton to lead CBS's '60 Minutes' in a major shake-up that also included firing two on-air correspondents, signaling a push toward tech-focused storytelling at the iconic news program.