Public Markets 3 Hours

Last updated: June 30, 2026, 8:30 PM ET

Markets Wrap

U.S. equity benchmarks concluded their strongest quarter in six years with the Dow industrials closing at a record high in June. The S&P 500 and Nasdaq Composite posted second-quarter gains of 15% and 21%, respectively strongest quarter. Asian equities were poised for a strong opening on Wednesday, building on nearly 17 years of robust performance, fueled by a rally in chipmakers and reassuring U.S. economic resilience that is bolstering corporate earnings expectations Asian equities poised.

Corporate & Deal Activity

Alcoa Corp. has agreed to acquire South32 Ltd.'s bauxite, alumina, and aluminum assets across Australia, Brazil, and South Africa for as much as $5.6 billion, a move that expands Alcoa's reach amid rising prices for the metal. Private equity firms IVEST Consumer Partners and Cloverlay are selling the Care Bears toy brand to Authentic Brands Group, leaning into licensing and royalty agreements since their 2023 acquisition selling toy brand. KKR is set to acquire EDF Power Solutions' North American renewable energy operations for $4.2 billion, adding a business that ranks among the top 10 U.S. renewable capacity owners acquiring renewable assets. Digital infrastructure services firm ITG Inc. successfully raised $312.2 million in a U.S. initial public offering, though it priced shares below its initial marketing range ITG raises $312.2M.

Technology & Media

Getty Images plans to terminate its merger agreement with Shutterstock after a U.K. regulator stipulated that Shutterstock must divest its editorial business for the deal to proceed. Consequently, Shutterstock shares plunged about 30% in after-hours trading. Apple CEO Tim Cook held "constructive" discussions with the European Union's tech chief regarding Siri's AI capabilities, as the technology group seeks to avoid potential fines amid ongoing deadlock over its new AI assistant Apple's Cook talks. Satellite TV provider Dish DBS has filed for bankruptcy, a move intended to facilitate the repayment of debt once its $20 billion spectrum deal with AT&T closes Dish files bankruptcy.

Energy & Commodities

Oil futures showed signs of recovery in early Asian trade following their sharpest quarterly drop since 2020, as traders monitored ongoing peace talks and the return of shipping traffic through the Strait of Hormuz oil steadies amid talks. The price of crude oil had previously risen on the possibility of a technical recovery after posting significant losses on Tuesday oil futures rise.

Politics & Disclosures

A mandatory financial disclosure for 2025 reveals that the Trump family's holdings, particularly in the president's cryptocurrency businesses, generated substantial profits. Trump's crypto holdings were particularly lucrative, with reports indicating over $1 billion from crypto deals and more than $500 million from the sale of family crypto tokens last year, alongside significant earnings from licensing deals for items like Bibles, watches, and perfume Trump's windfall. Federal disclosures also show that President Trump received numerous tickets to major sporting events, including the World Cup, Super Bowl, and Ryder Cup, from team owners and allies Trump received tickets. Separately, Representative Thomas Kean Jr. announced his hospitalization for depression, later reappearing in Congress after a nearly four-month absence which he attributed to the condition, though questions linger regarding his explanations Kean hospitalized for depression. The Supreme Court has blocked President Trump's attempt to end birthright citizenship, while a House Republican also cited depression as the reason for a prolonged absence from public duties Supreme Court blocks citizenship. President Trump announced plans for a Republican Midterm Convention in Dallas, Texas, an unusual move for a party not in the presidential election cycle, aimed at mobilizing Republican support this fall Trump announces convention.

Global Affairs & Disasters

U.S. rescue teams are engaged in a strenuous search for survivors amid the devastation of earthquakes in Venezuela, working alongside local authorities in areas where aid workers are concerned about potential disease outbreaks, such as cholera, due to damaged water systems and a pre-existing shortage of clean water rescue teams in Venezuela. NASA is considering sending a spare test version of a Mars rover, along with a soccer ball, to the Moon as part of its initiative to establish a lunar base NASA eyes Mars rover for Moon.