Public Markets 3 Hours

Last updated: May 29, 2026, 2:31 PM ET

Energy & Commodities Oil trading generated $2 billion annually for Total Energies, reflecting the sector’s resilience amid geopolitical tensions, while Rio Tinto’s aluminum exports rebounded to pretariff levels as U.S. tariffs eased. Gold prices extended gains to $2,340/oz as traders awaited U.S.-Iran deal developments, though oil futures dipped 1.3% in Asian trade after OPEC+ hinted at output increases. Meanwhile, treasuries set for their best week since the Iran war began as oil retreated, signaling reduced conflict-driven volatility.

Technology & AI AI’s market impact intensified as Dell’s shares surged 35% on AI-driven investor enthusiasm, while SpaceX’s IPO faced scrutiny over “enshittification” risks for passive investors. Kalshi’s perpetual futures launched in the U.S., offering crypto-linked prediction markets, and Dell’s AI ties highlighted Wall Street’s focus on tech-enabled growth. SpaceX’s hype aimed to create a self-fulfilling prophecy for its IPO, with analysts noting the company’s reliance on speculative momentum.

Fixed Income & Markets Deutsche Bank raised 10-year yield forecasts to year-end levels, anticipating Fed rate cuts, while SEC’s climate disclosure rules faced challenges as the agency proposed scrapping them. Treasuries strengthened further as oil prices fell, and U.S. airline bonds weakened after jet fuel costs spiked 8% due to Middle East supply fears. Asda’s partnership with Ocado suggested progress in breaking the online grocery stalemate, though St. John’s University’s campus sale for $30 million to Wagner College marked a modest real estate shift.

Corporate & Political Developments Avi Baicin’s stake at Aviva grew despite an 8% share price drop, signaling confidence in the insurer’s turnaround. Blackstone’s $1.2B loan for Air Trunk’s data center expansion underscored private equity’s AI infrastructure bets. Lula’s rejection of U.S. terrorism designations for Brazilian gangs clashed with U.S. policy, raising sovereignty concerns. Hermès fraud probe widened, with three lawyers under investigation for €14bn share disappearance, while Hungary’s EU funding could unlock $16bn after Orbán’s defeat. ICE agent arrest in Texas followed Minnesota shooting charges, reflecting ongoing immigration enforcement tensions.

Global & Market-Specific Trends Kenyan protests halted U.S. Ebola quarantine plans, highlighting ethical concerns over containment. Romania’s drone attacks injured civilians near the Ukraine border, escalating regional security risks. Lula’s stance on U.S. policy contrasted with Brazil’s drug gangs, while