Public Markets 8-Hour Briefing
×Market Moves
Stocks declined with the Dow industrials leading losses as the Mideast conflict continued to widen. Broadcom shares rose premarket while StubHub fell as traders assessed the war's impact on tech and consumer sectors.
Energy & Commodities
Oil extended gains as the war in the Middle East entered its sixth day, with Saudi Arabia starting to shift crude exports to the Red Sea. Jet fuel prices soared as the Iran conflict squeezed supply, even as more flights resumed across the Middle East.
Geopolitical Tensions
President Trump expressed confidence in the US military campaign against Iran even as the timeline for operations remained unclear. Iranian bombers were reportedly "minutes away" from striking a US base in Qatar before being intercepted.
Corporate Leadership
Greg Abel spent his entire $15 million salary on Berkshire Hathaway stock, signaling confidence in the company's direction. Delta Air Lines is shaking up its top leadership team following the retirement of its longtime president.
Economic Data
Weekly U.S. initial jobless claims stood at 213,000, providing a snapshot of the labor market amid rising geopolitical tensions. Eurozone retail sales declined unexpectedly in January, pointing to fragility in household sentiment before the energy price surge.
Financial Markets
European bond markets saw a brief stabilization after several days of near standstill due to Middle East conflict. High-grade corporate debt deals resumed in Europe as borrowers including Baker Hughes offered the first deals in a week.
Technology & AI
Apple iPhone shipments in China dropped 37% year-over-year in January, according to UBS. Meta plans to allow AI rivals on WhatsApp in a bid to stave off EU regulatory action.
International Trade
India is delaying shipments to the Middle East and North Africa as escalating regional tensions upend sea routes. Bangladesh is preparing to reduce deliveries to petrol pumps as the country tries to stretch existing reserves.
Real Estate & Infrastructure
EQT bought East Coast warehouses from Mapletree for $575 million. World Bank plans to invest $500 million to upgrade Kenya's commuter rail network.
Private Markets
BlackRock slashed the value of a private loan to zero just three months after assessing it at 100 cents on the dollar. Galvanize hit the $1 billion mark for a commercial real estate strategy focused on energy resilience.
Central Banking
Federal Reserve Bank of Richmond President Tom Barkin said it's too soon to tell how policymakers will respond to the Iran war, but they are tracking gasoline prices closely. European Central Bank Governing Council member Olli Rehn urged maintaining a "cool head" amid Iran war tensions.
Luxury & Retail
Victoria's Secret is projecting its best year since splitting from L Brands, expecting revenue to climb to the highest level since the separation. Prada warned that Versace's integration will dilute profit margins as the Italian luxury group works to turn around the brand.
Emerging Markets
Most emerging-market currencies fell as the Iran conflict entered its sixth day, with investors weighing Tehran's pledge to intensify attacks. Investors haven't lost faith in emerging markets even as the conflict roils riskier assets, according to Bank of America strategists.
Automotive
BYD launched a new fast-charging battery amid slowing demand in China, capable of being fully charged in nine minutes. Volkswagen Group has delivered 4 million all-electric vehicles since 2013, reaching the latest million in just one year.
Insurance & Risk
Insurance offers are being made for vessels seeking to transit the Strait of Hormuz, according to Lloyd's Market Association. Banks are issuing significant risk transfers at a record pace as they use the tool to hedge a wider range of loans.
Metals & Mining
Iran war triggered an aluminium supply crunch and shutdowns across the Middle East, threatening to "reprice across base metals" if outages continue. USA Rare Earth is planning to acquire the remaining minority interest of a Texas rare earth deposit in an all-stock transaction.
Healthcare
CVS tapped Google Cloud to roll out an AI-powered health platform. Victoria's Secret shares dropped despite a Q4 earnings beat and upbeat outlook, as investors weighed broader market conditions.
Financial Services
Morgan Stanley no longer expects the ECB to roll out rate cuts in 2026, revising its monetary policy outlook. JPMorgan hosted its annual leveraged finance event in Miami Beach amid unease about the roughly $3 trillion leveraged finance market.
Manufacturing
India's automakers are delaying shipments to the Middle East and North Africa as escalating regional tensions upend sea routes. Nissan warned of potential Sunderland closure if the UK is excluded from EU "Made in Europe" rules.
Media & Entertainment
Six Flags Entertainment agreed to sell seven of its regional amusement parks to EPR Properties for total cash consideration of $331 million. DoorDash is putting social media at the heart of marketing with help from Ziwe, Rob Rausch, and Duolingo's former social media manager.
Consumer
Kroger logged higher profit and sales in its fiscal fourth quarter while forecasting continued growth in 2026, albeit at a slower rate than last year. Target accelerated in-store investments as part of its turnaround strategy, planning to open more than 30 locations this year.
Defense & Aerospace
Sierra Space Corp. raised $550 million, fueling its drive to become a defense contractor for the US government. The US Defense Department is seeking information for the potential stockpiling of five critical minerals to reduce supply chain risks.
Agriculture & Food
Adani Total Gas Ltd. tripled prices of gas supplied to industrial consumers beyond 40% of their daily allocation as the Middle East war squeezes fuel availability. Campari raised its dividend and saw its stock make its biggest gain in months following strong sales growth in the US.
Hospitality
The Corinthia, a new five-star hotel from an expanding group, offers lavish comfort in a former Bank of Italy building. France has reached out to Italy and Greece to coordinate efforts in the Eastern Mediterranean as tensions over the Iran war flare.
Fintech
Revolut applied for a US banking license in a push to crack the American market, influenced by the Trump administration's willingness to permit new players. UK mortgages are about to get pricier as swap rates rise on Iran war concerns.
Mining & Resources
Congo reported many deaths after a landslide at a rebel-held tantalum mine. Zimbabwe is taking steps to clear the $23 billion it owes multilateral institutions as talks with lenders progress well.
Commodities
Venezuelan oil cargoes are surging at an opportune time as American fuel makers gobble up the country's heavy crude. Nigeria emerges as a winner from the oil price surge, while Congo has the most to lose among sub-Saharan African economies.
Currency Markets
The Canadian dollar has become a top pick in the $9.5 trillion-a-day foreign exchange market due to its link to oil prices as the war in the Middle East grinds on. The euro is sliding as a surge in oil and natural gas prices calls attention to Europe's vulnerability.
Private Credit
Several listed 'business development companies' have had to slash dividends and write down asset values as private credit's retail honeypot gets less sweet. The $10.5 billion offering for the US market and €4 billion for Europe are being split for the financing backing the record leveraged buyout of Electronic Arts Inc.
Infrastructure Finance
India's National Bank for Financing Infrastructure and Development (NaBFID) is planning to raise about $500 million to create its first equity-focused fund. Amundi SA, KKR & Co., and Temasek Holdings' Seviora unit are bidding for United Overseas Bank's asset management arm.
Legal & Regulatory
Trump and Bondi face a lawsuit over approval of ByteDance's TikTok US asset sale. Germany's KfW is working with JPMorgan on the potential purchase of a stake in KNDS NV, signaling Berlin's plans to support the European defense company.
Market Strategy
Bank of America sees US macro risks as "likely limited unless pronounced oil spike" occurs. J.P. Morgan started CSG with "overweight" rating and €40 price target on earnings growth expectations.
Market Sentiment
A new