Public Markets 8 Hours

Last updated: May 28, 2026, 11:35 AM ET

Energy & Commodities

Oil futures jumped 2.1% after the U.S. military shot down four Iranian attack drones, with prices climbing toward $85 per barrel as renewed Middle East hostilities capped output concerns. Gold erased early losses near $2,350 per ounce following Axios reports that Washington and Tehran are nearing a truce extension, while German power prices swung violently from near zero to almost €400 per megawatt-hour as solar generation faded. Natural gas futures edged 0.8% lower in New York trading as the July contract took the front-month position amid softer cooling demand forecasts.

Equity Markets & M&A

Stock futures slid 0.3% with Nasdaq-100 contracts leading declines after U.S. strikes against Iran threatened to derail diplomatic progress, while oil prices rose amid the flare-up in Middle East tensions. Billionaire Tilman Fertitta's all-cash takeover of Caesars Entertainment at $5.7 billion values the casino operator at $31 per share plus $11.9 billion in assumed debt, marking one of the largest gaming acquisitions in years. PPHE Hotel shares leaped 12% after the company received a $1.24 billion takeover approach from Israel's Fattal Hotel chain, and Denmark's BioMar Group rose on its debut following the country's largest IPO since 2018.

Corporate Earnings & Strategy

Dollar Tree posted higher profit and revenue in its fiscal first quarter as consumers continued seeking low-cost essentials, while Hormel Foods achieved six straight quarters of organic growth and Burlington Stores lifted its full-year outlook on better-than-expected sales. Best Buy reported rising profits driven by strong gaming and electronics demand, though XPeng slipped back into losses amid slowing Chinese hybrid vehicle sales. Tyson Foods named Jeff Schomburger as its new president and CEO, tapping the former Procter & Gamble executive to lead the meat processor's turnaround efforts.

Banking & Credit Markets

The Bank of Canada warned of vulnerabilities in financial markets, highlighting risks of sharp asset price corrections even as the system has functioned well through global shocks. U.S. funding markets remain flooded with cash from structural balance-sheet shifts at major banks, while European AT1 bond issuance surged as lenders lock in financing costs for up to a decade amid favorable conditions. TD Bank lifted its dividend joining other Canadian banks returning capital after strong quarterly performance, and Deutsche Bank faced investor backlash over plans to raise Chairman Alexander Wynaendts' compensation.

Technology & Private Equity

Drone manufacturers rallied broadly after reports that the Trump administration is exploring funding deals to boost domestic production, with Quantum Systems and Destinus preparing potential IPOs as early as 2027. China's MiniMax doubled revenue to at least $300 million annually as the AI upstart readies its next flagship model, while South Korea's pension fund increased domestic equity allocations to avoid forced selling after the Kospi's strong rally. Bridgepoint raised €5 billion for European direct lending and Actis secured $2.5 billion at first close for its energy fund, signaling continued investor appetite for alternative credit strategies.

Regulatory & International Affairs

The European Commission launched an in-depth probe into JD.com's $2.6 billion takeover of Ceconomy, citing potential competition distortion in the bloc's internal market. Temu faces a €230 million fine from EU regulators for selling unsafe children's products, while 3M was sued by Australia for $1.4 billion over PFAS contamination at military sites. China's Guangzhou Futures Exchange is studying night trading for platinum and palladium contracts, and Morgan Stanley's Charlie Shamieh will inherit Berkshire Hathaway's insurance operations when Ajit Jain retires, overseeing the conglomerate's Gen Re subsidiary.