Public Markets 3 Hours

Last updated: August 18, 2026, 8:53 PM ET

Gold and Commodities

Gold steadied near $2,340 an ounce after a bond selloff and deadlock in the Strait of Hormuz snapped a nascent uptrend. Oil rose for a fourth consecutive day, climbing 1.3% to $86.40 a barrel, as no progress emerged toward resolving the US-Iran conflict after nearly six months of fighting.

M&A Activity

JBS NV offered to acquire the remaining shares of Pilgrim’s Pride Corp. in a stock deal valued at approximately $1.2 billion, sending the chicken producer’s shares up 8.7% in premarket trading. Terton Capital launched a second buyout bid for South Korea’s Golfzon Holdings Co., though the offer faces renewed resistance from minority shareholders and the stock now trades above the tender price.

Asian Markets

Hong Kong Exchanges reported record trading volumes and new listings but saw little boost to its own share price, prompting analysts to look toward non-equity growth initiatives for upside. Japan’s earnings delivered their largest beat in five years despite soaring oil costs, fueling optimism that strong profit growth across sectors could broaden the market rally beyond AI-related names.

China Fixed Income

China bonds bucked the global selloff, with long-end yields falling as the curve flattened aggressively, underscoring a stark policy divergence from peers where long-dated rates hit multi-year highs. The 10-year yield dropped 12 basis points to 2.18%, while the spread over US Treasuries widened to 185 basis points.

US Earnings

OpenAI reported second-quarter sales growth of just 7% year-over-year, lagging behind rival Anthropic, though the company noted accelerated growth in Q3. La-Z-Boy swung to a first-quarter loss as sales slid 3% to $475.7 million, missing analyst forecasts for revenue of $501 million.

Geopolitical Risk

Canada resumed trade talks with the Trump administration ahead of a midnight deadline on new tariffs, with negotiators racing to secure terms that would shield the economy from further pain. Prime Minister Mark Carney and President Trump spoke again late Sunday, though key sticking points remain on automotive rules of origin.

Market Sentiment

Asian markets braced for a downbeat open as a tech stock selloff in the US, elevated bond yields, and rising oil prices weighed on sentiment. The Nikkei 225 futures pointed to a 1.1% drop while the Hang Seng Index was poised to slip 0.9%.

Corporate Governance

ICE barred its employees from wearing Meta’s smart glasses on duty, joining a growing list of workplaces restricting the devices over privacy concerns. The policy follows mounting scrutiny from lawmakers and advocacy groups over potential surveillance risks.

Media and Entertainment

Theater chains endorsed David Ellison’s $111 billion merger of Paramount and Warner Bros. Discovery, despite warnings from state attorneys general that the deal could harm consumers and reduce competition in the streaming market. AMC, Cinemark, and Regal collectively represent over 60% of US theater screens.

Private Markets

Mark Walter sought a loan from Apollo backed by his stake in the Los Angeles Lakers, with talks continuing until he finalized a deal to sell the holding. The financing highlights growing interest among private lenders to tap into sports franchise equity as an asset class.