Public Markets 8 Hours

Last updated: May 27, 2026, 2:31 PM ET

Global Markets & Stocks

US stocks drifted sideways on Wednesday as traders weighed reports of a potential Iran peace deal that could restore shipping in the Strait of Hormuz, while the S&P 500 futures rose 0.3% in premarket trading on optimism around artificial intelligence and lower oil prices. Veteran strategist Ed Yardeni dismissed bubble concerns in US equities, attributing the rally to "fabulous earnings momentum" rather than speculation, as the Kospi index in South Korea doubled in value, reminiscent of the Nasdaq's surge in 1999.

Energy & Commodities

Oil prices fell sharply after Iranian state television reported details of a peace proposal that would restore shipping through the Strait of Hormuz within a month, a development that could alleviate global supply concerns. Meanwhile, Peru extended its halt on anchovy fishing due to El Niño weather patterns, while falling water levels on the Rhine River forced oil barges to carry less fuel, adding pressure to European supply chains. Russia has increased crude exports to India by 70% since February, capitalizing on the Middle East conflict, as global supply shortages deepen and threaten economic growth.

Deals & M&A

Uber expanded its stake in Delivery Hero at a €12 billion valuation, stepping up its pursuit of the German food delivery company, though analysts question whether this acquisition would truly help Uber achieve superapp status given Delivery Hero's modest 2.4% operating profit margin. JPMorgan indicated it could deploy up to $20 billion on acquisitions, with chief executive Jamie Dimon noting that the Trump administration's lighter regulatory approach has freed as much as $50 billion in excess capital. In the AI space, OpenAI's foundation announced plans to spend $250 million on research into AI's economic impact, while DigitalBridge acquired energy private equity firm Arc Light for $1 billion as Wall Street firms strike partnerships to secure power for data centers.

Financial Institutions

US banks posted strong results in the first quarter despite geopolitical tensions and rising interest rates, with key metrics improving even as the industry faced modest increases in paper losses, according to the Federal Deposit Insurance Corporation. In Canada, Bank of Montreal and Scotiabank both raised their dividend payouts after logging stronger earnings, with Scotiabank benefiting from lower credit-loss provisions and growth across business segments. Meanwhile, National Bank of Canada beat analyst expectations in its fiscal second quarter on strength across major segments, while Investec raised $43 million in a debut loss-absorbing debt issue as South African banks work to comply with new central bank frameworks.

Tech & AI

Robinhood joined the AI arms race by allowing investors to use AI chatbots for share trading and credit-card purchases, reflecting a broader trend of brokerages offering sophisticated tools to retail investors. The AI boom has propelled memory chipmakers into the trillion-dollar club, with South Korea's SK Hynix and US-based Micron joining the elite group, as three major producers now boast valuations exceeding $1 trillion. Taiwan Semiconductor Manufacturing Co. pledged incentive hikes of over 30% for its staff this year on average as AI profits soar, addressing concerns about compensation during the AI-driven growth surge.

Special Situations

Ferrari faced backlash in Italy and beyond following the launch of its first electric car, with memes mocking the new model, analysts questioning its appeal, and investors selling the automaker's stock as a former chairman warned of "the destruction of a legend