Public Markets 8 Hours

Last updated: June 3, 2026, 5:31 AM ET

Global Markets & Geopolitics

U.S. stock futures remained steady as technology stocks looked to extend their rally, despite continued Middle East tensions that clouded sentiment in other sectors. The DXY dollar index rose after the U.S. and Iran exchanged heavy fire in the Persian Gulf, while job openings increased sharply in April and Fed comments reinforced hawkish sentiment. Eurozone government bond yields climbed in opening trade, tracking Treasury gains, as stalling Middle East diplomacy and higher oil prices kept inflation concerns elevated. The Organization for Economic Cooperation and Development warned that the global economy risks a slump from a prolonged Iran conflict that has already stifled growth and could trigger recessions and significantly stronger inflation.

Energy Markets

Oil prices tick higher as Middle East fighting escalates, with the Strait of Hormuz remaining at the heart of the U.S.-Iran stalemate. The critical waterway through which most Persian Gulf energy exports must travel remains under pressure as Iran failed to export any crude oil past the U.S. Navy's blockade last month, with around 80 million barrels of oil and petrochemicals stranded. Fuel sales in Pakistan slump as costlier prices triggered by the Iran war force consumers to cut back, while India's oil demand growth this year could tumble to pandemic lows as the fallout from the Middle East conflict saps fuel consumption in the world's third-biggest crude importer. Philippine President Ferdinand Marcos Jr. said his government is considering a supplemental budget to help the public cope with the oil crisis, urging the Senate to return to work.

Retail & Consumer Stocks

Shares in B&M European Value Retail rose after the company reported increased revenue for the fiscal year, beating consensus estimates. However, the discount retailer's results followed a series of profit warnings and the finance chief's resignation after an accounting error, with profits dropping 47% in what the company called a "tough turnaround year." In contrast, Spanish fashion retailer Inditex, which houses Zara and Massimo Dutti, reported sales accelerating 11.5% compared with the prior year despite the tough market backdrop.

Corporate News & M&A

French media giant Canal+ rose in its debut on the Johannesburg Stock Exchange, with the secondary listing marking the completion of its multi-billion dollar acquisition of African pay-TV assets. Akzo Nobel shares plunged 19% after Nippon Paint and Sherwin-Williams ended their pursuit of the Dutch paintmaker, leaving it to proceed with its planned merger with Axalta Coating Systems. Meanwhile, Warren Buffett's successor Greg Abel put his stamp on Berkshire Hathaway with a pair of megadeals that gave shareholders reason to believe he is a savvy dealmaker.

Asia-Pacific Markets

Hong Kong's $550 billion Exchange Fund is looking for investment managers who can help it closely track the S&P 500 Index, according to people familiar with the matter. Chinese investors are exiting Hong Kong-listed stocks in record numbers, highlighting waning appetite as mainland AI shares broaden their appeal. Goldman Sachs boosted its outlook for South Korean and Taiwanese stocks, as the artificial intelligence boom drives profits in the tech-heavy markets. In India, IT stocks soared after Nvidia CEO Jensen Huang calmed AI disruption fears, while bank lending in the country expanded at the fastest pace in nearly two years as companies choose loans over bonds as a cheaper source of financing.

Commodities & Resources

Copper fell from a three-week high amid pessimism over the outlook for a deal to end the Middle East war. Guinea's Simandou iron ore project surged in exports in May, six months after the first shipment to China, marking a milestone in the ramp-up of the high-grade mine that has the potential to reshape global supply chains. China has chosen a new state investment company to help coordinate its overseas metals and mining deals, countering mounting geopolitical risks that threaten its ability to secure resources.