Public Markets 8 Hours

Last updated: May 25, 2026, 11:31 AM ET

Energy & Commodities

Oil prices dropped more than 5% as prospects of a U.S.-Iran deal raised hopes for increased supply, though investors remained skeptical about the actual impact on global markets. The dollar extended its recent fall amid optimism about the potential reopening of the Strait of Hormuz, a vital shipping lane through which two LNG tankers recently passed. Despite these moves, clearing the 1,500 ships stranded for nearly three months would prove complicated even after any agreement is reached. Meanwhile, the Iran conflict continues to squeeze India's gas power supply, which has plunged to its lowest level in at least six years as record summer demand strains electricity supplies across the country.

Equity Markets

Italian stocks scaled a 26-year high, with the benchmark equity index surpassing its all-time closing high set in 2000, driven by recent rallies in energy and semiconductor stocks. In emerging markets, rapid-commerce firm Zepto Ltd. is preparing to file in early June for an IPO targeting up to $1 billion as India's digital commerce sector continues to attract investor interest. Elsewhere in European equities, Italian bank Cassa Depositi e Prestiti plans to increase its stake in payments group Nexi after private equity firm CVC weighed a €9 billion bid for the Milan-listed company. The art market has also shown resilience, with auction houses engineering a $2.5 billion comeback after four years of uneven sales by redefining buyer and seller expectations.

Fixed Income & Central Banks

The Czech Republic's prime minister pressed the central bank to cut interest rates, maintaining his push for