Public Markets 3 Hours

Last updated: August 13, 2026, 8:41 AM ET

Equities

U.S. stock futures edged higher Thursday after subdued inflation data, with the S&P 500 and Nasdaq poised for gains as investors bet the Fed can hold rates steady. The muted CPI reading also pushed Treasury yields and gold lower. In Asia, Korean stocks surged again, with the Kospi climbing as Seoul tightened rules on leveraged ETFs to temper excess. Meanwhile, Japanese drama over yen volatility continued to ripple through U.S. markets, as traders weighed the impact of a potential Bank of Japan policy shift on global carry trades.

Chinese tech names posted strong results. JD.com beat profit and revenue expectations in the second quarter, as its food-delivery losses narrowed. SMIC reported a surge in net profit and revenue, cashing in on robust orders for legacy chips. In Europe, TUI CEO warned that Spain and Italy are hitting tourism capacity limits, while Egypt and Turkey see growth. JLR owner Tata Motors missed profit estimates as weakness in its UK luxury unit offset strong India sales.

Fixed Income & Credit

The Big Tech debt issuance wave is inadvertently lifting credit risk metrics for some of the world’s safest firms, as a flood of bond sales by U.S. tech companies ripples through the market. In emerging markets, Sri Lanka is reducing reliance on foreign debt and shifting to longer-term domestic bonds under its IMF program. The Morning Risk Report notes that Paramount discussed creating a board to ensure CNN’s independence, while Eli Lilly alleges black market weight loss drug sales.

Commodities & Energy

U.S. fuel prices are likely to stay high until President Trump can strike a lasting deal with Iran, analysts say. Russian diesel exports dropped to a fresh multiyear low in early August as drone attacks hit refineries. The price of erbium, a niche rare earth used in infrastructure, jumped on fears of renewed Chinese export controls. Meanwhile, war in Odesa is choking off Ukraine’s grain export lifeline, and shippers don’t buy Trump’s Hormuz strait claims. The Energy & Utilities roundup includes insight on RWE, Korea Electric Power, and Ampol.

Currencies & Geopolitics

The yen remained in focus as Putin visited islands seized from Japan in WWII, angering Tokyo. Mexico pressed the U.S. to cut auto tariffs, while the Auto & Transport roundup covers Maersk, Transurban, and Hapag-Lloyd. North Koreans are using stolen IDs and AI to land U.S. jobs, funneling millions to Kim’s regime. Africa’s top insurer Old Mutual returned to Zimbabwe’s stock exchange after six years.

Corporate & Deal Activity

Accelerant agreed to go private in a $4.4 billion deal with Thoma Bravo. Tapestry said its Coach brand led sales growth for another quarter, but gave a soft outlook for its new fiscal year. Home Depot CFO Richard McPhail and a senior executive VP will lead during CEO’s medical leave, raising questions about investor disclosure of such details. Minor International, Thailand’s biggest hotel operator, delayed a $1 billion REIT plan due to market conditions.

Tech, Media & Telecom

The Tech, Media & Telecom roundup includes insight on Cisco, Telstra, and Lenovo. A new class of cuddly mascots is selling everything from AI to tap water, with Crocs joining the parade with a 6-foot crocodile named Niles.

Health Care

The Health Care roundup covers KPJ, Apotex, and Novo Nordisk. Hegseth is pressed to clarify his lawyer’s role in promotion decisions, while ICE plans to give officers electric stun gloves and a siege on Palestinian homes continues.

Other Markets

China remembers former premier Zhu Rongji, who integrated the country into global commerce. Photos from yesterday’s total solar eclipse are shared.