Public Markets 3 Hours

Last updated: August 10, 2026, 11:44 AM ET

Equities & Broader Markets

Global stocks kicked off the new trading week on a solid footing, but U.S. indexes opened little changed as investors focused on the final stretch of second-quarter earnings and key economic data. The S&P 500 and Nasdaq Composite were flat, with the market awaiting chipmaker earnings that could confirm the sustainability of the AI trade. The consumer price index due later this week will also shape Federal Reserve expectations, with traders pricing a high probability of a September rate cut. European and Asian markets posted modest gains as cautious optimism prevailed.

Currencies

The yen weakened sharply against the dollar, losing roughly half the ground it gained after recent U.S.-Japan joint intervention. Goldman Sachs said a BOJ rate hike next month would help bring sustained strength to the yen, but traders noted the absence of a unified voice among central banks as a factor limiting the currency’s recovery. The dollar index edged higher as intervention effects faded, with the greenback also gaining against the euro and sterling.

Fixed Income

Treasury yields rose ahead of U.S. inflation data later this week, with the 10-year note yield climbing as fixed-income investors positioned for stable consumer price readings. The move reversed some of last week’s decline and reflected expectations that the Fed will maintain its current interest-rate stance. Markets now see a roughly 60% chance of a rate cut by September.

Commodities

U.S. natural gas futures rebounded as near-term weather forecasts turned hotter, boosting power-sector demand expectations. The front-month contract rose over 3% on the day. Separately, an unusually dramatic swing in weather outlooks triggered heavy short-covering by money managers, sending natural gas futures up by the most in more than two months. The move caught many bearish hedge funds off guard, as speculative short positions had been near record levels. In soft commodities, French trader Sucres et Denrees, one of the world's largest sugar traders, warned that global sugar markets are oversupplied despite a recent price rally, with data gaps clouding the outlook for investors. Meanwhile, a chicken glut driven by larger flock sizes and steady beef demand is weighing on meatpacker margins while lowering grocery bills for consumers. The declining poultry prices are contributing to a moderation in food inflation that the upcoming CPI report is expected to reflect.

Deals & Corporate Actions

Fast-fashion retailer Shein pitched its long-awaited IPO to investors at a valuation below $30bn, a roughly 70% drop from its $100bn peak four years ago, according to the Financial Times. The sharp decline reflects regulatory headwinds and shifting investor sentiment toward the sector; Shein is seeking to list in London after a failed New York attempt. In mining, a consortium including Glencore and other partners submitted a rival rescue bid for troubled Canadian miner Sherritt International, presenting an alternative to a previously proposed plan. Barrick Mining settled a long-standing dispute with Newmont over their Nevada joint operations, agreeing to a $1.95bn cash payout that paves the way for Barrick to publicly list its North American assets. The settlement ends years of litigation and clears a major overhang for both companies. In energy infrastructure, Grain LNG, the operator of the UK’s largest liquefied natural gas import terminal, named energy veteran Peter Abdo as CEO starting October, signaling a push to enhance the facility’s role in European energy security. Drinks giant Diageo is looking to revive three lagging liquor icons—Crown Royal, Smirnoff, and Captain Morgan—by overhauling marketing and product innovation, as reported by the WSJ. Finally, Michael Saylor’s Strategy Inc. sold additional Bitcoin and common shares to bolster its cash reserves, raising approximately $400mn through the sales as Bitcoin prices stabilized near $65,000.