Public Markets 3 Hours

Last updated: June 23, 2026, 2:30 PM ET

Public Markets

The U.S. dollar climbed to its highest level since November as traders increasingly priced in a Federal Reserve interest rate hike this year, a move that coincided with a 1.24% drop in Comex gold and a nearly 5.4% decline in silver. Both precious metals have now fallen for three consecutive sessions. Meanwhile, Treasuries gained ground as a selloff in U.S. stocks and falling oil prices eased bets on Fed rate increases.

In corporate news, Schick razor maker Edgewell Personal Care Co. jumped nearly 18% after rejecting an unsolicited takeover bid from private equity firm Yellow Wood Partners. Retail giant Walmart agreed to purchase advertising tech firm Vibe.co for $1.4 billion, marking its largest deal in two years and signaling an expansion into connected TV advertising. Gas station operator EG Group confidentially filed for a U.S. IPO that could raise approximately $1 billion.

The burgeoning market for leveraged exchange-traded funds, particularly in South Korea, is facing renewed scrutiny amid an AI-fueled market rout. In Chicago, the city is placing its bets on quantum computing as a potential catalyst for a tech revival, despite the technology's unproven commercial viability. Businesses are also taking significant risks to capitalize on the growing popularity of injectable peptide drugs, drawing in doctors, telehealth companies, and venture capitalists.

American farmers may find a new market as President Donald Trump reiterated plans for crop sales to Iran, suggesting funds from unfrozen Iranian assets would partially support grain shipments. In a separate development, the Supreme Court sided with Exxon Mobil in its long-standing legal battle with Cuba over oil and gas assets confiscated in 1960, with the Trump administration backing Exxon's bid for compensation.

Russia is considering a ban on diesel exports to mitigate domestic shortages, a move that follows intensified Ukrainian attacks on Russian refineries. Mexico and Brazil's national oil companies, Pemex and Petrobras, agreed to collaborate on oil and refining projects, aiming to expand their respective reserves.

The United Kingdom continues to grapple with the lingering economic and political fallout from Brexit, a decade after the vote to leave the European Union. Separately, the number of ultrawealthy individuals rose 14.4% in 2025, with those holding more than $30 million seeing a significant increase.

In the technology sector, SpaceX's stock price has slumped below its initial public offering price of $150 per share shortly after its public listing. Meanwhile, Apple closed its first unionized U.S. store in Maryland, citing "declining conditions" in a nearby mall, though the union accuses the company of retaliatory actions.

The debate over environmental regulations continues, with some arguing that red tape and flawed tax credit structures have hindered the U.S. solar industry compared to China's progress. In labor news, the Teamsters union is seeking to shed oversight measures intended to curb mob ties, with union leader Sean M. O’Brien reportedly leveraging a relationship with President Trump. An opinion piece suggests that unions prioritize their own wages over broader public benefit.

In European news, record-breaking heatwaves in Europe are prompting scientists to investigate the upper limits of climate warming impacts. Private equity firm Ara Partners is selling German magnetics firm Vac to Energy Fuels for $1.9 billion in a deal valued at €500 million. Separately, a drone startup, Stark, has secured additional funding from a Peter Thiel-backed firm, participating in a €500 million funding round.