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14 articles summarized · Last updated: LATEST

Last updated: August 7, 2026, 4:20 PM ET

Equities

Major U.S. stock indexes rose after the July jobs report came in much cooler than expected, prompting traders to scale back their rate-hike expectations. The S&P 500 and Nasdaq both gained ground as softer labor data reinforced bets that the Federal Reserve will pause its tightening cycle. Meanwhile, DraftKings CEO Jason Robins criticized prediction markets on an earnings call, saying he doesn't think it is good for bettors to wager on what executives say during such calls.

Fixed Income

U.S. Treasury auctions sparked fresh debate this week about whether cutbacks in note and bond issuance could help temper yields, challenging a long-standing assumption about the world's biggest bond market. The conversation around auction volumes intensified as traders parsed the implications for liquidity and borrowing costs. Separately, Japanese government bonds extended their rally as traders priced in a September rate cut, tracking overnight gains in Treasuries.

Commodities

Oil futures moved higher as the weekend approached, with the market still awaiting news on a deal to reopen the Strait of Hormuz. The rise in crude prices came despite early weakness, as supply disruption concerns in the Middle East outweighed demand worries.

Policy & Regulation

President Trump restarted his battle to fire Federal Reserve Governor Lisa Cook, sending a letter saying the administration is "considering" removing her from the job, after being rebuffed by the Supreme Court in an earlier attempt. The Senate passed a sanctions bill targeting Russia and Iran, championed by the late Senator Lindsey Graham, whose sudden death last month helped spur quick action. Additionally, Christopher Phelan was confirmed as chairman of the White House Council of Economic Advisers, a former adviser to the Federal Reserve Bank of Minneapolis.

Labor Market

The labor market shifted into reverse as a spring surge rapidly faded, with summer bringing higher prices and more uncertainty for businesses, even as they avoided layoffs. The cooler-than-expected July jobs report prompted traders to scale back rate-hike bets, reinforcing the narrative of a slowing economy. Meanwhile, employers balked at hiring, contributing to the broader deceleration in hiring.