Public Markets 3 Hours

Last updated: June 1, 2026, 5:31 PM ET

Energy & Commodities

Oil spiked 6% as Middle East tensions escalated following exchanges of fire between U.S. and Iran forces, with crude prices climbing amid concerns about potential disruptions to oil shipments through the Strait of Hormuz. The U.S. natural gas market reversed its three-session rally, giving up some gains while maintaining seasonal support from warming weather conditions and recovering LNG exports, as precious metals slumped to start June dragged down by the geopolitical uncertainty in the region.

Technology & AI

Hewlett Packard Enterprise accelerated its long-term financial targets by two years after second-quarter earnings significantly exceeded Wall Street expectations, with the company citing surging demand for AI compute infrastructure. Anthropic filed for a public offering, setting the stage for what could be a massive IPO as the AI company races OpenAI to the stock market, fueled by technology capable of automatically writing computer code. Meanwhile, GoPro warned of going-concern risks as AI-fueled memory crunch pushed costs higher, with the action-camera maker seeking additional financing to continue operations.

Financial Institutions & Markets

BMO recruited Trevor van Arragon from rival Toronto-Dominion Bank for a newly created role leading its Canadian business banking division, continuing a trend of executive moves between Canadian financial institutions. BP backed Amanda Blanc to lead the second chair search following Albert Manifold's brief tenure, despite concerns expressed in the City about the process. In legal markets, Illinois lawmakers passed legislation joining Colorado in restricting private equity's ability to control law firms, reflecting growing regulatory scrutiny of investor influence in professional services.

Geopolitical & Regulatory Developments

Canada-US Trade Minister Dominic LeBlanc emphasized the importance of maintaining the highly integrated North American energy market ahead of talks in Washington, as tensions in the Middle East continue to impact global oil supplies. Italy's labor abuse crackdown expanded to include a U.S. construction company, with a Caddell Construction executive detained amid an investigation into alleged "quasi-slavery" of migrant workers. Czech utility giant CEZ secured shareholder approval for a proposal to split up its assets, a critical step toward the government's plan to buy out minority investors and gain full control over the company.