Public Markets 3 Hours

Last updated: July 5, 2026, 8:30 AM ET

Energy & Commodities

Oil futures rose 1.1% as OPEC+ ratified planned quota hikes, signaling a gradual return of supply to the market. Major members agreed to a modest increase in collective production quotas for next month, adding to the prospect of greater supply eventually hitting global markets, particularly as Gulf flows rebound OPEC+ agreed another increase. This comes as tanker earnings have plunged by $200,000 per day as more ships enter the Strait of Hormuz. Meanwhile, extreme heat and storms across the eastern U.S. have caused electricity prices to soar to record highs, leaving nearly 1 million households without power and disrupting energy grids.

Markets & Investment

Tech billionaire Vinod Khosla has voiced his support for higher taxes, explaining his concerns with the current U.S. tax system and how artificial intelligence is poised to reshape the economy Khosla wants higher taxes. In China, Lululemon is facing new challenges with slowing sales in its crucial market, a region that has previously helped the activewear maker offset other troubles. In Mexico City, political gloom has been overshadowed by World Cup euphoria, with the nation awaiting its team's performance with anticipation Mexico awaits World Cup.

Geopolitics & Social Trends

Public mourning continues for Iran's Supreme Leader Ayatollah Ali Khamenei, with mourners chanting for "Revenge" at funeral prayers, though his son and successor, Mojtaba Khamenei, remains absent Mourners chant revenge. The political landscape in the U.S. is marked by unresolved questions, with the potential for an Obama vs. Trump election scenario that never materialized leaving proxy battles to play out Obama vs. Trump election. Meanwhile, the concept of what best represents America is being debated, touching on national identity and values most American thing.