Public Markets 8 Hours

Last updated: May 19, 2026, 8:31 AM ET

Energy & Commodities

Oil futures retreated 1.3% in early Asian trade as Middle East tensions eased following President Trump's postponement of Iran strikes, while Russian flows fully resumed through all berths at Novorossiysk after weekend disruptions. Meanwhile, nickel prices spiked 8% on concerns over Indonesian production cuts, the world's top supplier, and Brazil's record soy crush has flooded export markets with cheap soy oil as biodiesel mandates stall. Indonesian markets plunged 3.2% on speculation the government will centralize commodity exports to prop up the rupiah, with palm oil futures climbing 4.1%.

Fixed Income & Yields

U.S. Treasury yields edged lower overnight as oil prices retreated toward $110 a barrel, though the 10-year note remains above 4.6% with 30-year yields eyeing 5.5% as the new focal point for inflation fears. Japanese government bonds extended gains tracking the Treasury rally, while global bond selloffs threaten vulnerable Asian economies as central banks face pressure to tighten despite Middle East oil shocks. The UK's energy price cap looks set to surge 13% this summer, the largest increase since 2023, compounding inflationary pressures across G-7 nations where bond market woes extend beyond oil.

Equities & Retail

Target's stock surged 6.8% this quarter, quietly outperforming peers as the retailer emerges from its sales slump, prompting plans to name a new supply-chain head to address logistics challenges. Home Depot posted 4.2% lower profit as homeowners defer major renovations amid high rates, while fund managers raised stock allocations by a record 7.2% in a Bank of America survey tracking the equity rally. In London, Diema shares climbed 12% after guidance lifts, whereas Fujikura plunged 17% as AI-focused optical-fiber forecasts disappointed investors chasing artificial intelligence demand.

Geopolitical Risk & Currency Flows

Goldman Sachs remains bullish despite Iran shocks as international co-heads report resilient client flows, while Deutsche Bank was fined £165,000 by UK regulators for Russia sanctions breaches. The ruble led emerging markets higher this quarter, boosted by oil sales gains from the Iran conflict, as Singapore stocks hit a record high on haven demand. Global inflation pressures persist with OECD warning risks have worsened, particularly as Turkey's energy cap jumps 13% and three Asian economies show rising strain amid bond market turmoil.

AI & Technology

AI rollout is boosting metals-rich EM currencies with Barclays projecting gains for nations supplying lithium and copper to data centers, while JPMorgan sees AI moving from hype to real execution. However, the AI boom presents dilemmas for retail investors amid frothy valuations, prompting Big Tech companies to cut buybacks except for Nvidia which continues share repurchases. KPMG is embedding Anthropic's Claude across its tax and advisory platforms as part of a broader push by private equity groups like EQT to scale European tech champions.