Public Markets 8 Hours

Last updated: May 29, 2026, 11:31 AM ET

Energy & Commodities

Oil prices fell sharply amid hopes of a U.S.-Iran peace deal that could reopen the Strait of Hormuz, with Brent crude heading for its biggest monthly drop since 2020. The potential agreement has already allowed roughly one-quarter of trapped oil tankers to escape the Persian Gulf in a slow trickle. Meanwhile, aluminum markets faced deepening shortages as the conflict tightened supply, with Japanese buyers offered record premiums for third-quarter shipments as spot prices spiked.

Cryptocurrency & Blockchain

The U.S. derivatives regulator cleared the way for onshore crypto-linked perpetual futures contracts, bringing a popular trading product to American platforms if certain conditions are met, potentially reshaping the cryptocurrency derivatives landscape.

Equities & Stock Markets

U.S. stocks continued their rally on Friday morning, with the S&P 500 poised for a ninth straight week of gains as traders weighed Iran peace deal hopes and AI spending optimism. Ford Motor shares set records for their best monthly gain in 17 years as the automaker's newfound status as an AI beneficiary sparked investor frenzy, while CTS Eventim jumped after U.S. tours and Winter Olympics drove earnings. However, some analysts warned the easy money has already been made in the S&P 500's two-month rally.

Corporate Finance & M&A

Private equity firm CVC completed a $4.3 billion acquisition of IFF's food ingredients division, the latest in a series of deals carving out underperforming divisions from corporate groups. Elsewhere, Zambia's bonds jumped after the country started a cash tender offer to buy back its $1.36 billion bond due in 2053, becoming the latest African nation to repurchase debt to reduce servicing costs.

Fixed Income & Rates

Federal Reserve officials remained focused on inflation, with Kansas City President Jeff Schmid emphasizing they must make clear their willingness to take necessary steps for price stability. Meanwhile, European Central Bank member Fabio Panetta made the case for a rate hike without indicating a pre-set path for subsequent tightening, while Governing Council member Dimitar Radev warned that delaying action could be costlier than acting earlier.

Central Banks & Currency

Japan spent a record $73.6 billion over the past month to support the yen after the currency slid past 160 per dollar, marking the first major market intervention for the country. Indonesia and India intervened on Friday to prop up their currencies amid energy price spikes, while Indian firms faced tougher scrutiny as the rupee hit record lows.

Geopolitics & Markets

Romania reported a Russian drone strike that wounded civilians near the Ukrainian border, raising NATO tensions, while Vietnamese leader To Lam emphasized that military power alone cannot ensure security