Public Markets 8 Hours

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

Energy & Commodities

Oil prices slumped 19% in May, their sharpest monthly drop since 2020, as traders priced in potential peace talks between the U.S. and Iran. The retreat in crude futures boosted stock markets to fresh records, while ship transits through the Strait of Hormuz rose following increased U.S. assistance to vessel operators navigating the volatile region. Meanwhile, Total Energies disclosed $2 billion in annual earnings from its oil trading operations, highlighting the industry's continued profitability despite market volatility.

Equity Markets & Tech

Technology stocks continued their rally with Dell soaring 35% after the computer maker reported strong data-center revenue and secured a Pentagon deal. Ford Motor Co. set to record its best monthly gain in 17 years as investors bet on the automaker's AI connections. Wall Street dumped crash hedges as the most-shorted stocks jumped 30%, with hedge funds finding that caution has become the most expensive position on the market.

IPOs & Space Sector

Space stocks received a reality check after a Blue Origin rocket exploded on a launchpad, creating a major setback for Jeff Bezos' company that had been gaining ground on Elon Musk's SpaceX. SpaceX positioned itself for what could be the largest stock-market debut in history, targeting a $75 billion valuation that has Wall Street torn between the risks of missing out versus the potential for failure. Separately, Honeywell-backed Quantinuum is considering increasing the size of its IPO amid growing investor interest in quantum computing.

M&A & Corporate Actions

Universal Music Group rejected a $65 billion buyout offer from Bill Ackman's Pershing Square, which had argued that moving the record company's listing from Amsterdam to New York would unlock value. In the airline sector, Castlelake LP is exploring a bid for easy Jet, the UK-based discount carrier struggling with rising fuel costs and slumping demand. Meanwhile, Trafigura secured a $92 million arbitration win against Zambia's ZCCM Investments Holdings in a long-running dispute over a prepayment agreement.

Fixed Income & Rates

U.S. Treasuries headed for their best week since the start of the Iran war as oil prices declined in anticipation of a potential cease-fire. Deutsche Bank raised its forecast for the 10-year Treasury yield on expectations that Federal Reserve officials will maintain a hawkish stance. In the municipal bond market, investors poured near-record cash into tax-exempt securities as higher yields and the approaching summer reinvestment season attracted buyers. Hedge funds turned bearish on U.S. natural gas for the first time since 2024 on signs of plentiful domestic supplies and reduced export needs.

Regulatory & Policy Shifts

The Securities and Exchange Commission proposed scrapping climate-related disclosure rules, finding that the requirements exceeded the scope of its statutory authority. The agency's move aligns with the Trump administration's approach to reducing regulatory burdens on businesses. Meanwhile, the administration cleared the way for vehicles under the USMCA trade pact to require at least 50% American-made content, potentially reshaping North American automotive supply chains. A federal judge temporarily blocked the Trump administration from transferring money in or out of a $1.8 billion fund until the court could hear arguments in June.