Public Markets 3 Hours

Last updated: July 3, 2026, 2:30 PM ET

Global Defense & Politics

France's Thales will record a charge in its first-half results after Germany canceled its F126 frigate procurement program, marking a setback for the aerospace and defense giant. In contrast, a joint venture involving U.K.'s BAE Systems, Italy's Leonardo, and Japan's Mitsubishi Heavy Industries secured a $6.14 billion contract to develop a new stealth fighter jet, funded by the three nations. U.S. officials reportedly believed Israel plotting kill Iranian negotiators, fearing such an action would derail peace talks. Meanwhile, Assemblyman Robert Smullen will not run on the Conservative Party line in his bid to replace Representative Elise Stefanik in New York's House race, following intervention by Donald Trump. The ongoing funeral ceremonies for Supreme Leader Ayatollah Ali Khamenei drew foreign dignitaries to Iran on Friday.

European Markets & Policy

European Central Bank President Christine Lagarde will attend the upcoming Ecofin meeting in Brussels, rather than her vice president. Governing Council member Joachim Nagel stressed the need vigilance at the next rate decision, indicating the ECB should remain watchful for inflation risks and maintain flexibility. Separately, a top official has recused herself from a decision regarding the NHS Palantir contract due to prior business links, following concerns raised by MPs about Samantha Jones’s previous consulting work.

US Politics & Economics

Donald Trump reportedly earned $2.2 billion in personal gains during his first year back in the White House, according to new mandatory disclosures, though his base has remained largely quiet. In Wisconsin, state legislator Francesca Hong is seeking to prove socialism can appeal in a swing state, though some strategists suggest it could hand the election to Republicans. The nation's capital braced for near 100-degree temperatures as medical workers anticipated an increase in heat-related illnesses. Temporary suspensions of the Jones Act have benefited California drivers and refiners, as well as Puerto Ricans, according to market analysis.

Investment & Corporate News

Canada Pension Plan Investment Board is set to invest $1.75 billion to support EQT Corp.'s AI buildout, signaling significant capital flow into artificial intelligence infrastructure. In the art market, artists have alleged an 'epic betrayal' by the collapsed fund APT, which had aggregated artworks over two decades for eventual sale and profit sharing amongst participants. APT's model involved this aggregation strategy.