Public Markets 3 Hours

Last updated: August 12, 2026, 11:42 AM ET

Equities

Ed Yardeni raised his S&P 500 target to 8,400, topping his own Street-high estimate on “fabulous earnings momentum.” New York City’s five pensions returned 13% over the past fiscal year, beating their target as the US stock market hit records.

Fixed Income

Bond traders kept roughly 50% odds of a September Fed rate hike even after a tame US inflation reading. The consumer-price index is the central bank’s primary gauge for tracking price pressures.

Commodities & Energy

Russia’s crude-only output missed its OPEC+ quota by almost 1 million barrels a day in July as Ukrainian drone attacks hit its infrastructure. Freight costs for Black Sea oil tankers shipping crude to the Mediterranean surged to a record, depressing Kazakhstan’s CPC export grade. Germany has asked for non-binding bids for nationalized energy company Uniper by Sept. 21.

Macro & Policy

A favorite carry trade in Brazil is wobbling as election jitters prompt investors to pare exposure to one of the year’s most rewarding currency plays. In US primaries, a moderate won the closely fought Democratic governor race in Wisconsin, extending the party’s progressive-moderate divide. Europeans are bracing for a fifth heat wave of 2026, with temperatures forecast to hit 109°F (43°C), sapping summer tourism appeal.

Companies & Industries

Ted Decker will take a medical leave of absence; a senior vice president and the CFO will handle day-to-day operations. UWM has “fallen out of the hamster wheel” as non-bank mortgage lending faces structural trouble. A premium sneaker brand has throttled wholesale growth, while Target hired its first chief AI officer. The West has given China the keys to the medicine cabinet by outsourcing antibiotic production, ceding control over a critical supply chain.