Public Markets 3 Hours

Last updated: July 2, 2026, 2:30 PM ET

Markets Overview

Semiconductor stocks kicked off the third quarter with a two-day selloff, marking their worst performance in nearly a month. This downturn comes as Amazon.com Inc. successfully launched 29 satellites for its upcoming broadband service, a move that could challenge SpaceX's Starlink. In broader market movements, Jersey Mike’s Subs Inc. and Cumberland Farms Ltd, backed by Blackstone Inc. and EG Group respectively, both filed for IPOs, signaling a rebound in U.S. listing activity.

Corporate & Dealmaking

Aventiv Technologies, a prison phone company, has secured an out-of-court agreement for lenders to take control from private equity firm Platinum Equity, concluding a protracted regulatory approval process. Meanwhile, Apollo Global Management is reportedly struggling to sell its Hispanic grocer chain due to weakened sales following U.S. immigration raids. The market for stablecoins is also seeing shifts, with Circle Internet Group Inc.'s share turbulence suggesting a potential reevaluation of dominance in the digital dollar space.

Economic & Regulatory Watch

Germany has been urged by its grid operator, Amprion Gmb H, to halt further closures of coal-fired power plants to ensure electricity supply stability amidst renewable energy expansion. This comes as Europe faces escalating heatwaves, causing glaciers in the Alps to melt at an accelerated rate due to early hot spells. In the U.S., employers added fewer jobs in June than the previous month, though the unemployment rate still edged down, indicating steady but slower gains in the job market. The UK's financial watchdog, the FCA, has criticized investment firms for providing "unintelligible" disclosure documents and has banned "double-dipping" practices to improve customer treatment FCA criticises investment firms.

Geopolitical & Risk Factors

Russia launched a deadly wave of drone and missile strikes on Kyiv, killing at least 21 people and damaging residential buildings. In Venezuela, fuel shortages are stalling rescue efforts following a recent earthquake, with excavators and cranes unable to clear debris in affected areas. The ongoing geopolitical tensions are also impacting markets, as JPMorgan Chase & Co. warns that Michael Saylor's financing strategy introduces new risks to the Bitcoin market. Separately, extreme climbers were arrested in Manhattan after illegally scaling the Empire State Building.

Commodities & Agriculture

Soybean futures fluctuated as traders awaited Chinese purchasing decisions following a statement on rolling back U.S. agricultural tariffs. In Venezuela, the recovery efforts from a recent earthquake are being hampered by fuel shortages that have idled heavy machinery. Meanwhile, Germany is facing pressure to reconsider its coal plant closures to maintain electricity grid stability amid growing demand and the expansion of renewables, as the continent grapples with heatwaves melting glaciers.