Public Markets 8 Hours

Last updated: May 22, 2026, 8:32 PM ET

Equity Markets The S&P 500 completed its eighth consecutive weekly gain, marking its longest winning streak since 2023 as enthusiasm for artificial intelligence and emerging tech continued to drive investor sentiment. Walmart announced executive departures including Sam's Club Chief Operating Officer Tom Ward, a 19-year veteran, and Cedric Clark, head of U.S. store operations, signaling significant reshuffling under new CEO. These developments occurred amid political tensions as Republicans showed growing divergence from President Trump's agenda following January 6th committee findings. Stocks have now risen for eight straight weeks despite ongoing geopolitical concerns regarding the impasse over reopening the Strait of Hormuz.

Energy & Commodities Oil futures edged higher ahead of the U.S. Memorial Day weekend as traders awaited developments in U.S.-Iran cease-fire negotiations. In contrast, U.S. natural gas retreated below $3 as a cooler weather outlook reduced expected power-sector demand. The domestic oil sector showed renewed vigor with the U.S. rig count rising by the most in over four years, reflecting a drilling recovery as tensions in Iran drive crude prices higher. Gold closed the week down 0.76% at $4,521.00, snapping a two-session winning streak as the dollar remained supported by geopolitical uncertainties.

Corporate Finance & M&A CVC Capital Partners and Groupe Bruxelles Lambert teamed up for a $12.5 billion bid to take Italian drugmaker Recordati private, valuing the company at approximately $12.47 billion. Radiopharma company Lantheus is exploring a potential $7 billion sale after receiving a takeover offer from Curium, signaling continued healthcare sector consolidation. Danaher completed a record $3 billion private-placement bond sale, while Apollo Global Management proposed a $2.04 billion takeover for heat treatment firm Bodycote, sending shares sharply higher as the two companies entered talks.

Digital Assets & Regulation The Nasdaq received SEC approval to list Bitcoin index options, marking another step toward Wall Street's integration of cryptocurrency products. However, the SEC delayed plans to provide broad exemptions for U.S. crypto firms to trade tokenized assets linked to stocks, while also postponing approval for prediction market ETFs from Roundhill, Granite Shares, and Bitwise, reflecting the regulatory agency's cautious approach to innovative financial products.

Currencies & Fixed Income The dollar remained nearly unchanged for the week as risk assets gained traction on optimism around progress in U.S.-Iran peace talks. Treasury yields ended the week little changed as Wall Street simultaneously hoped for a U.S.-Iran deal while bracing for potential escalation. The course of the Iran conflict remains critical for the euro-dollar exchange rate according to Commerzbank, as the currency pair continues to react to Middle East geopolitical developments.

Policy & Economic Developments The Trump administration announced a policy change requiring green card seekers to leave the United States to apply for permanent residency, a move that could affect hundreds of thousands of people and potentially lead to more family separations. Meanwhile, Education Secretary Linda McMahon expressed conflicting positions on civil rights, stating she wants to hire more lawyers while the White House has proposed cutting that office in half. Former President Biden declined to endorse Health and Human Services Secretary Xavier Becerra or any other candidates