Public Markets 8 Hours

Last updated: May 29, 2026, 5:30 AM ET

Geopolitical Developments & Energy Markets

Oil prices pulled back on renewed optimism that the U.S. and Iran were closing in on a deal to reopen the Strait of Hormuz, though U.S. stock futures remained largely flat. The potential 60-day agreement pushed gold higher to $2,340/oz as investors weighed easing inflation concerns against geopolitical risks. The DXY dollar index gained 0.1%, but the currency could weaken if Trump approves the agreement, according to MUFG. Meanwhile, Brent crude headed for its largest monthly drop since 2020, causing stock futures to edge up as investors monitored developments.

Central Bank Policy & Rate Expectations

European Central Bank Governing Council member Fabio Panetta acknowledged the case for an interest-rate hike while urging colleagues not to flag subsequent tightening, as the Iran war may push medium-term inflation expectations higher among euro-area consumers. This sentiment was reinforced as French inflation quickened to the highest level in more than two years, backing a first rate increase by the ECB since 2023. In Asia, central banks are implementing aggressive interest-rate hikes to shore up currencies, though with few signs of success. Japan's two-year government bond yield edged higher after an auction saw weak demand as investors bet on a near-term BOJ rate hike.

IPO Market & Equity