Public Markets 8 Hours

Last updated: June 5, 2026, 8:35 AM ET

Equity Markets

U.S. equity futures opened lower Thursday morning with the S&P 500 down 0.5% and Nasdaq sliding more than 1% as the AI trade continues to unravel, while London-listed shares surged as Raspberry Pi jumped 19.5% after forecasting full-year earnings significantly above expectations. The tech-heavy index weakness contrasts with UK retail value where B&M European Retail posted its best-ever week on better-than-expected earnings that squeezed short sellers. Meanwhile, Manchester United is considering private placement markets to refinance $425 million of debt due next year.

Central Banks & Monetary Policy

Federal Reserve officials have shifted focus to inflation rather than rate cuts, with officials signaling concern over resurgent price pressures even as jobs data points toward recovery. India's central bank held rates steady despite pressure on the rupee, while scrapping capital gains taxes for foreign bond buyers to shore up the currency. In Southeast Asia, Indonesia faces a crisis of confidence as investors question economic fundamentals, though the finance minister points to debt market inflows as evidence of stability. Ghana's central bank governor sees scope for rate cuts once Middle East tensions subside.

SpaceX Valuation & Mega-Deals

Morgan Stanley projects SpaceX revenue reaching $3.4 trillion by 2040, supporting the rocket maker's $1.77 trillion valuation as underwriters barred Chinese and Hong Kong investors from the $75 billion IPO on security grounds. The company won't make the S&P 500 according to index providers, though retail investors are lining up for record