Public Markets 3 Hours

Last updated: June 12, 2026, 5:30 AM ET

Geopolitics & Commodities Oil prices slid to a three‑month low as Brent slipped below $90 a barrel and WTI fell similarly after President Trump signaled a possible Iran peace deal, prompting the S&P 500 futures to post their biggest one‑day percentage gain since early April . The sharp move lifted gold 2% to around $2,050 an ounce, reflecting renewed risk appetite , while the U.S. dollar weakened but, according to ING, is unlikely to fall much further even if a formal U.S.–Iran agreement is reached . European sovereign bonds rallied on the same logic, with the German‑bund and French OAT yields tightening as traders priced out a prolonged energy shock .

Equities & Listings The Fan Duel owner announced it will delist from London and trade solely on the New York exchange, citing low trading volumes and high regulatory costs as the rationale for the move . In the United States, investors awaited the largest IPO ever as SpaceX prepared to go public, with futures hovering near breakeven ahead of the listing . Across Europe, Italian banks rallied after a revived bidding war for Banca Monte dei Paschi di Siena sparked a broad rally in financial stocks, pushing the FTSE‑MIB up more than 4% .

Corporate Finance & Energy ENN Energy’s controlling shareholder is reportedly weighing the abandonment of a near‑$12 billion buyout of its Hong Kong‑listed energy unit, a move that could reshape the Chinese power‑generation market . Meanwhile, U.S. LNG exporters found European buyers increasingly reluctant to lock in long‑term contracts for new supply, highlighting a shift in demand dynamics as Europe leans toward renewable imports . In Japan, memory‑chipmaker Kioxia overtook Toyota to become the nation’s most valuable company by market cap, underscoring the AI‑driven valuation premium on semiconductor firms .

Macro Outlook & Weather The European Central Bank’s Emmanuel Moulin warned that the recent oil price bounce is beginning to feed through to broader goods and services, even though wage pressures remain muted in the euro area . Separately, the National Oceanic and Atmospheric Administration issued an El Niño advisory, noting the pattern could intensify floods and heatwaves while potentially reducing Atlantic hurricane activity .