Public Markets 3 Hours

Last updated: May 29, 2026, 5:31 PM ET

Energy & Commodities Markets Oil prices fell sharply as investors assessed tentative signs of a pact to extend a cease-fire between the U.S. and Iran, contributing to Brent crude's 19% drop in May, its sharpest monthly decline since 2020. Meanwhile, shipowners growing optimistic about a pickup in traffic through the Strait of Hormuz after more vessels departed with U.S. information aiding navigation. In natural gas markets, hedge funds turned bearish for the first time since 2024 on signs of plentiful domestic supplies and expectations of reduced export needs.

IPO Activity & Equity Performance The broader market closed May strongly as stocks reached fresh records, with Dell soaring while workers received a smaller share of corporate profits. In IPO news, OpenAI has discussed adding Citigroup and JPMorgan to its bank lineup for an upcoming initial offering, while quantum computing firm Quantinuum is considering increasing the size of its IPO according to people familiar with the matter. SpaceX continues preparations for what could be the largest stock-market debut in history, with Elon Musk reportedly working to create a self-fulfilling prophecy for the massive public offering that may raise as much as $75 billion. Blue Origin, however, faces a major setback after a rocket explosion on a launchpad, halting Jeff Bezos's progress in gaining ground on Musk's SpaceX.

Corporate Takeovers & Market Shifts The private credit market continues reshaping the public equity landscape as Castlelake explores a bid for easy Jet, which would mark another UK-listed company taken off the stock market. Easy Jet draws takeover interest amid struggles with rising fuel costs and slumping demand, while Universal Music declined a takeover offer from Bill Ackman's Pershing Square, which had argued that moving the record company's listing from Amsterdam to New York would unlock value. In China, Durex sales hit by the country's condom crackdown as wide-ranging measures to boost the birth rate dent demand for the leading contraceptive brand. Meanwhile, Wall Street dumping crash hedges as most-shorted stocks jumped 30%, making caution the most expensive position on the market, while short-sellers lining up to bet against bond ETFs amid rising interest rate concerns.

Regulatory & Political Developments The U.S. securities regulator seeks to end corporate disclosures on climate risk, looking to overturn a Biden-era requirement after finding it a "dramatic over-reach" of authority. In political news, a judge tossed a citizenship law aimed at new voters in New Hampshire, ruling that the 2024 law "constitutes an unjustifiable burden on the right to vote" and that new voters should be able to prove citizenship with a sworn affidavit.