Public Markets 3 Hours

Last updated: August 4, 2026, 11:32 PM ET

Asian Markets and IPOs

SK Hynix climbed, boosted by an overnight surge in US chipmakers and expectations that the South Korean firm will soon announce share buybacks and other elements of a comprehensive shareholder return plan. In India, the state-owned Life Insurance Corporation of India expanded its offering to raise $3.3 billion due to robust investor demand, even as the broader Indian IPO market experiences a slowdown. Manipal Health Ltd. is poised for a subdued stock market debut in Mumbai, with its $960 million initial public offering facing indications of cooling investor sentiment in pre-market trading. Meanwhile, Chinese AI agent startup Evoken, the company behind Lovart, is reportedly exploring a Hong Kong initial public offering, following a trend of similar firms seeking to capitalize on the booming investment landscape. Attovia Therapeutics Inc. a US-based drug developer focused on immune system diseases, successfully raised $289 million in its initial public offering, pricing at the upper end of its marketed range.

Commodities and Geopolitics

Gold prices rose in early Asian trading as markets continued to assess conflicting statements between the U.S. and Iran, adding to geopolitical uncertainty.

US Politics and Business

Arizona Governor Katie Hobbs, facing a tight re-election campaign, plans to select John Giles, a moderate former mayor of Mesa, Arizona, as her lieutenant governor should she win in November. Representative Wesley Bell has defeated Cori Bush in a closely watched Missouri primary, positioning him as a strong favorite in the safely Democratic district for the general election. In New York City, Mayor Eric Adams has removed corporate leaders from an advisory board for a city fund, signaling a shift in how influential business figures can access City Hall. The FAA is investigating a safety incident involving Marine One, the presidential helicopter, which reportedly took off from the White House while commercial aircraft were operating at Reagan National Airport.

Tech and Consumer Trends

SpaceX, the rocket company led by Elon Musk, reported spending $15.8 billion on artificial intelligence projects in the second quarter and indicated no intention to reduce these investments. The live shopping application Whatnot is attracting users with its rapid auctions and engaging "breaks," where participants hope to acquire items like sports cards, fashion, and other goods. A resident of Spokane County, Washington, reported observing suspicious activity and then smoke, leading to a 911 call and the subsequent arrest of a suspect connected to one of the area's wildfires.