Public Markets 3 Hours

Last updated: June 25, 2026, 2:30 AM ET

Energy & Commodities

Oil futures slid toward pre-war levels as shipping in the Persian Gulf resumes, with Brent crude dipping below $73. Qatar has joined other Gulf nations in reviving crude sales to Asia following an interim US-Iran peace deal, prompting insurers to slash war premiums for Strait of Hormuz vessels by more than half. Palm oil futures also posted their largest drop in over a month, tracking declines in crude and soy oil. Meanwhile, the debate over the future of oil continues, with some analysts questioning if the era of oil is over as gilts stage a comeback.

Equities & Markets

Asian stocks rose led by semiconductors after Micron Technology's earnings eased concerns about the artificial intelligence sector. Copper prices also edged higher, buoyed by a weakening dollar and a rally in AI stocks, though they had touched a seven-week low. South Korea's equity market, the world's best-performing, is delaying new single-stock options amid record volatility. In Europe, the FTSE 100 was set to fall as Brent crude slid. Volkswagen is selling a 51% stake in its engine subsidiary Everllence to Bain Capital as part of a portfolio streamlining effort.

Fixed Income & Debt

Japanese government bonds faced renewed pressure as Prime Minister Sanae Takaichi's $2.3 trillion investment plan risks straining the debt market. Demand for Japan's 20-year government bonds fell to its weakest in over a year at auction, amid concerns over inflation and fiscal policy. In Australia, a housing downturn has wiped A$185 billion off the value of the nation's top two markets this quarter. Boaz Weinstein is partially correct about Workspace's valuation slump, as London's commercial property market shows signs of slowing amid lumpy conditions.

Digital Assets & Tech

Bitcoin is facing a significant hurdle with a massive $10 billion options expiry, potentially exacerbating pressure on a market already contending with fading institutional demand and macroeconomic headwinds. Mongolian football club Brera Ilch FC struggled with the pivot to cryptocurrency, and Cathie Wood's investment in the group is now facing significant losses as shares tumble. Meta is accelerating plans to replace human content moderation with large language models across its platforms. Air conditioning stocks have seen a surge in demand due to record heat and data center build-outs, though consumers may face higher prices from the AI industry driving up costs.

Corporate & Legal

Cal-Maine Foods Inc. and other egg suppliers are reportedly close to settling a DOJ probe into alleged illegal price coordination. Quinn Emanuel has taken over a £36 billion BHP case from a struggling boutique firm. Shareholders are urging the board of Ocado to oust CEO Tim Steiner, though he may remain with the grocery tech company in a different capacity. Hollywood power broker Ari Emanuel is in advanced talks to acquire theatre group ATG Entertainment for £4.5 billion.

US & Geopolitics

Americans are expressing gloom about artificial intelligence, largely due to concerns about the US labor market and social safety net differing from global norms. The suspect in recent Kansas City roadway shootings was found dead in a basement, with police believing him to be Oscar Sanchez-Munoz after a police search. Senate Republicans reversed course on Iran policy, rejecting a resolution to end military action after President Trump's public dissent. A 7.5-magnitude earthquake, the largest to strike Venezuela in over a century, has raised fears of significant casualties compared to a 1900 quake. A video of a woman taking a Knicks-themed trash can went viral, resulting in her no longer being employed by JPMorgan Chase.