Public Markets 3 Hours

Last updated: June 2, 2026, 5:31 PM ET

Equity Markets The S&P 500 posted its longest winning streak in a year, closing at records for five consecutive sessions for the first time since February 2017. Meanwhile, tech companies offered $675 billion in stocks to hungry investors, while SpaceX is eyeing a roughly $1.75 trillion valuation in its upcoming IPO that could make banks hundreds of millions in fees. In retail, Victoria's Secret swung to a $47.7 million profit in the first quarter from a year-earlier loss, sending shares soaring, and Ulta Beauty showed growth across channels and major categories as CEO Kecia Steelman pointed to broad-based performance that validates the cosmetics retailer's strategy.

Fixed Income & Credit Private credit markets faced continued pressure as Cliffwater's flagship fund was hit with 17% redemption requests, forcing the $31 billion fund aimed at retail investors to limit withdrawals at 5% in the second quarter. This mirrors similar challenges across the $1.8 trillion private credit market as investors seek liquidity. In the high-yield market, a data center tied to CoreWeave raised $900 million through junk-bond sales, joining a wave of issuers tapping debt markets to fund artificial intelligence infrastructure. Meanwhile, Treasury yields remained steady amid no visible progress in U.S.-Iran talks to reopen the Strait of Hormuz.

Energy & Commodities Oil futures rose amid continued impasse in negotiations to reopen the Strait of Hormuz, with the longer the U.S. and Iran take to reach agreement, the tighter the physical market becomes. In the natural gas market, U.S. natural gas futures inched down in a rangebound session, supported by seasonal shifts to warmer weather that drive power-sector demand. Precious metals saw gold finish higher, with front-month futures rising 0.3%, though inflation concerns persist in the market.

Health Care & Automotive In health care, the weight loss drug sector continues to draw attention, with companies like Apotex Health and WELL Health Technologies showing varying performance. The automotive sector saw developments across major players, with Ferrari, Renault, and Stellantis all experiencing market movements as detailed in the latest Auto & Transport Roundup.

Technology & Geopolitical The technology sector saw HPE, Dell, and Bitcoin all attracting market attention, with Google reportedly sending a clear signal to the market. On the geopolitical front, Venezuela's National Assembly is set to debate a reform that would open the country's electricity sector to private investment, while President Trump signed a watered-down AI vetting order after MAGA infighting, allowing the U.S. government to gain early access to cutting-edge models. In Chicago, the $850 million Obama Presidential Center aims to remake a neighborhood with a 19.3-acre community hub and a 225-foot museum.