Public Markets 8 Hours

Last updated: May 26, 2026, 11:32 PM ET

Energy & Commodities

Oil prices slipped 1.3% in Asian trade as traders weighed prospects of a potential U.S.-Iran deal that could reopen the Strait of Hormuz, though recent strikes in Iran clouded optimism. Meanwhile, Adani group companies surged toward a combined market value of $200 billion as a heat wave boosted India's energy demand, while liquefied natural gas shipments through Hormuz continued to increase despite geopolitical tensions. Gold held near $2,340/oz despite Middle East uncertainties as investors weighed inflation concerns against potential rate cuts.

Technology & Semiconductor Sector

Asian shares climbed to record highs propelled by a rally in chip and memory stocks, with Micron Technology joining the $1 trillion market cap club in just 48 days. The memory chip frenzy also lifted SK Hynix above the $1 trillion valuation mark as investors bet on AI-driven demand, while Samsung's union approved a bonus-pay deal handing chip workers an average bonus of about $340,000 and averting a strike. In lithium markets, SQM boosted its sales forecast betting on robust demand from battery storage systems that will keep the market tightly supplied.

Fixed Income & Currencies

The dollar remained little changed against the yen after Bank of Japan Governor Kazuo Ueda offered no hints on the timing of the central bank's next move. Meanwhile, superlong Japanese government bond yields rose on expectations that elevated oil prices could boost inflation, while U.S. Treasury yields fell as markets contemplated the tense situation in the Middle East and potential Hormuz reopening.

Asian Markets

Asian stocks hit record levels led by technology shares, with Chinese investors betting that a months-long rally in two-year government bonds has gone too far by turning to arbitrage trades. Despite ongoing trade tensions, European firms in China showed improved business outlook in a new survey, just as Brussels appears poised to take action against a swelling trade imbalance with Beijing.

IPO & Capital Markets

SpaceX's IPO received another greenlight after FTSE Russell adopted a rule change that will speed the addition of newly listed large-cap companies to its main indexes. The SEC chairman is considering changes to decades-old rules that prohibit companies from certain communications during the going-public process to spur more IPOs. Meanwhile, Kardigan Inc. filed for a U.S. IPO to help fund three late-stage drugs targeting cardiovascular diseases, while Mubadala Investment Co. seeks to raise $1.91 billion from an unregistered block sale of Global Foundries shares.