Public Markets 3 Hours

Last updated: June 23, 2026, 11:30 AM ET

Energy & Commodities

Geopolitical tensions continue to ripple through energy markets, with Carnival reporting booking disruptions particularly in the Mediterranean due to the Iran conflict. The persistent threat of conflict in the Strait of Hormuz, despite diplomatic efforts by Iran and Oman to agree on transit costs, continues to impact global trade. Russia is experiencing a worsening gasoline crunch, with at least two-thirds of its regions facing rationing or supply issues following Ukrainian drone attacks on refineries. This has contributed to a decline in U.S. natural gas futures, driven by cooler weather forecasts and reduced LNG flows, although solid production levels and inventories are limiting steeper price drops. North Sea crude is also showing weakness as Middle Eastern oil returns to the market, raising concerns about a potential supply glut.

Corporate & Deals

In the corporate world, Stada is reportedly exploring a €6 billion takeover of CVC-backed Cooper Consumer Health as it seeks acquisitions following record profits. Platinum Equity has emerged as the sole remaining bidder for Nestle SA’s water business, with Clayton Dubilier & Rice having withdrawn. U.S. rare earths miner Energy Fuels is acquiring German magnet group for $1.9 billion as companies race to develop independent supply chains. Tonino Lamborghini is planning a luxury hotel and branded residences at South Africa’s Zimbali Lakes Resort. Meanwhile, Avis secured $650 million from hedge fund Pentwater Capital, which was accused of fueling excessive volatility in the car rental company's stock.

Markets & Finance

Megacap technology stocks may rebound and regain investor favor after a recent selloff, according to Evercore ISI’s Julian Emanuel, who believes upcoming earnings will be the catalyst. In fixed income, the Bank of Canada’s governor is warning that over-investment in the U.S. is creating broader correction risks for the global financial system. Morocco has maintained its interest rate pause for a second year, balancing support for a building boom with vigilance against inflation amid ongoing U.S.-Iran talks. The Justice Department is targeting costly wound care treatments in a crackdown on Medicare fraud schemes, with five individuals charged in connection with these schemes. Economist Nouriel Roubini, known for his past predictions and criticism of cryptocurrencies, is now placing one of his investment products on the blockchain.

Legal & Policy

The Supreme Court has rejected a lawsuit claiming Cisco Systems helped China target Falun Gong, a decision that could have wider implications for corporate liability in international human rights abuses. In a separate ruling, the court also barred a lawsuit by an inmate who alleged prison guards violated his religious rights by shaving his dreadlocks. In a significant move, the Justice Department has withdrawn grand jury subpoenas issued to journalists from The Wall Street Journal and The Washington Post, following pushback from the news organizations. Separately, images circulating from an activist group show the Kennedy Center tarps have been removed, revealing no sign of President Trump’s name where it was previously located.