Public Markets 3 Hours

Last updated: July 1, 2026, 5:30 PM ET

Public Markets Overview

U.S. stocks edged lower as Federal Reserve Chairman Kevin Warsh remained tight-lipped on the future path of interest rates, while Treasury yields rose ahead of jobs data. Investors parsed a busy day of economic indicators and Warsh’s comments, which some analysts fear could spur market volatility due to a quieter central bank approach. Meanwhile, short-term interest rate markets saw a surge of activity driven by divergent views from top banks on the upcoming Treasury bill supply big bank calls unleash. The SEC is also rethinking its oversight of the ETF industry.

Tech, Media & Telecom

Shares in Bending Spoons, the Italian owner of AOL Eventbrite, soared 40% on its Nasdaq debut, raising $1.68 billion in one of Europe’s largest tech IPOs this year. Separately, Uber-backed Lime saw its shares climb after raising $167 million in its IPO, with shares priced at $25 underwritten by Goldman Sachs. The tech sector's dealmaking activity is expected to remain strong, with mega takeovers driving a record $2.8 trillion in transaction volumes, largely in response to economic shifts spurred by the rise of AI as mega takeovers drive record M&A. Elon Musk’s Tesla saw a trading frenzy as its stock crossed the $420 mark.

Energy & Commodities

Crude futures extended their decline as supply optimism grew with ships moving through the Strait of Hormuz and ongoing diplomatic talks. U.S. natural gas futures remained range-bound, with hot weather boosting cooling demand but abundant production and inventories capping gains ahead storage data. Shell Plc is shuffling its energy trading leadership as Executive Vice President David Wells retires after four years running a key earnings driver. Robinhood Markets is expanding into Europe by rolling out perpetual futures tied to commodities, ETFs, and currencies, aiming to capitalize on 24-hour trading seeking to capitalize on round-the-clock trading.

Deals & Listings

Franco-German tank maker KNDS has postponed its IPO plans, citing investor balking at a €12 billion-plus valuation, a move that halts what was set to be one of Europe’s largest debuts in recent years citing market conditions. Despite this, M&A volumes are projected to stay strong in the second half of the year, according to Melissa Sawyer, head of global M&A at Sullivan & Cromwell, who noted a wide variety and scope of deals suggesting transaction volumes will remain strong.

Crypto & Digital Assets

President Trump and his family reaped significant financial rewards from a memecoin, even as hundreds of thousands of investors incurred losses crypto brought Trump. Separately, Trump stated that chip maker Micron would make a substantial donation to a new type of investment account created by the administration receive $250 Million donation.

Other Markets

Gold and silver futures gained to start the third quarter for a second consecutive session. In a notable development, the town of Terrasse-Vaudreuil in Quebec has become the first governing body to adopt the Universal Declaration of the Rights of Trees, with its mayor calling them “indispensable allies” the first governing body. Caterpillar Inc. stock slid from a record high after Michael Burry, famous for his pre-2008 housing market short, announced he had shorted the industrial giant Burry’s short call dents. New Zealand house prices fell for the third straight month in June, nearing a three-year low amid worries about the Iran war New Zealand house prices.