Public Markets 8 Hours

Last updated: May 27, 2026, 8:31 PM ET

Energy & Commodities

Oil edged higher as the U.S. and Iran remained at odds over how to reopen the Strait of Hormuz, with the conflict entering its fourth month. Asian stocks were set to slip lower as investors weighed conflicting signals over prospects for a deal to end the war in Iran, while natural gas futures settled higher aided by short-covering as the Nymex June contract expires and summer approaches. The broader market sentiment was further complicated by President Trump's assertion that rising economic costs would not force him into an Iran deal, even as oil prices fell moderately on signals that a more lasting agreement might be within reach.

Precious Metals & Fixed Income

Gold extended its losses for a third day as a lack of progress in U.S.-Iran peace talks continued to pressure interest rates, with front-month gold futures shedding 2% over the three-day period. Meanwhile, Hong Kong is positioning itself to become Asia's preeminent bullion trading hub by launching a gold-clearing system to secure first-mover advantage. In bond markets, the return of calm to U.S. Treasurys following turbulence stirred up by the Iran conflict is attracting big moves in options, with some traders wagering the stability won't last. The dollar recovered from earlier losses as hopes diminished for a U.S.-Iran agreement, while Goldman Sachs reported that a stronger dollar during the first month of the conflict spurred foreign official institutions to sell Treasurys.

Geopolitical & Market Risks

Financial markets underestimate geopolitical risks, according to the ECB, which noted that market moves in response to the Middle East conflict have been orderly but reflected complacency amid increased economic uncertainty. The Iranian situation remains complicated as Iran insists on unfrozen funds before meaningful negotiations can begin, while the White House dismissed an outline of an "unofficial" Iran deal. In a related development, President Trump threatened Oman over the Strait of Hormuz, saying there would be serious repercussions if Iran and Oman move forward with a deal to open the waterway, though he later added, "They'll be fine." Despite diplomatic efforts, few in Lebanon believe peace will come even if the U.S. and Iran reach an agreement, as clashes between Israel and Hezbollah intensify in the south.

Financial Services & Technology

Canadian banks kicked off earnings season with plans to lift dividends, as Bank of Montreal, Bank of Nova Scotia and National Bank of Canada reported improved results. Meanwhile, KKR & Co.'s co-CEO expressed confidence that the alternative asset manager would eventually start trading private credit, following early efforts by Apollo Global Management. In the technology sector, Micron Technology's remarkable rally has launched the memory-chip firm into an elite group of stocks worth at least $1 trillion, setting at least one record along the way. Nuclear power startup Newcleo is going public in a SPAC deal valuing the developer at about $2.4 billion, part of a wave of nuclear companies seeking capital to serve AI's surging power needs. Robinhood, meanwhile, is joining the AI arms race by letting investors use AI chatbots for share trading, as retail brokerages compete to provide new tools to clients.