Public Markets 8 Hours

Last updated: June 3, 2026, 11:31 PM ET

Energy & Commodities

Oil futures slipped 1.3% in early Asian trade as Iran-US clashes raised supply concerns, while iron ore fell to a two-month low on softening fundamentals and rising supply. Gold fluctuated near $2,340/oz as a mild dollar weakening offset geopolitical tensions, though precious metals slid later as the greenback strengthened. A deadly screwworm parasite was confirmed in South Texas cattle for the first time since the 1960s, threatening the US herd at its lowest level in 75 years. SpaceX’s IPO is poised to raise $75 billion at a $135/share price, surpassing Saudi Aramco’s 2019 debut, though local backlash persists over its $55 billion AI chip plant in Texas.

Fixed Income & Policy

Japanese government bonds traded mixed as the Bank of Japan’s rate-hike prospects weighed, while Treasury yields climbed alongside oil prices amid fragile Iran ceasefire hopes. The CFTC scrapped a decades-old gag rule in enforcement settlements, allowing companies to publicly deny wrongdoing. SoftBank’s CEO pledged $52 billion for French data centers, reigniting AI infrastructure bets, as AI CapEx rush fuels concerns of a market bubble.

Equities & Deals

Broadcom slid 15% after-hours, erasing $300 billion in market value as AI chip revenue forecasts disappointed investors. Meta bet on AI agents to unlock WhatsApp revenues, expanding its messaging platform strategy. Santander and JPMorgan are backing a $1 billion financing for Argentina’s Vaca Muerta shale project. Indian IT stocks slumped as AI-driven automation fears resurfaced, with investors skeptical of a sector rebound. Malaysian tycoon Vincent Tan sold $29 million in Berjaya Corp. shares, reducing his stake amid divestment pressures.

IPOs & Market Sentiment

Innio’s backers raised $2.43 billion in an upsized IPO, pricing at the top of the range, while Liftoff Mobile’s revival netted $437 million after pricing above expectations. Goldman Sachs upgraded Taiwan to overweight and raised its Kospi target to 12,000, citing South Korea’s tech resilience. US stocks fell 1.2% as Iran hostilities reignited risk aversion, with the Dow, Nasdaq, and S&P 500 all declining. House Republicans passed a bipartisan Iran war powers resolution, rebuking Trump’s unilateral military actions.

Geopolitical & Currency Moves

The Indonesian rupiah hovered near 18,000 per dollar, triggering investor watches for central bank intervention. Four House Republicans broke ranks with Trump on Iran war powers, joining Democrats in a 235-192 vote. New Zealand home building hit a 10-year low as housing demand stalled, mirroring global uncertainty. Republicans revived immigration legislation while weighing a ban on Trump’s $1.