Public Markets 8 Hours

Last updated: June 8, 2026, 8:31 AM ET

Energy & Geopolitics

Oil prices surged 4.2% in early European trade after Israel and Iran exchanged missile strikes, with Brent crude climbing past $85 per barrel amid fears of supply disruptions in the Middle East. The escalating tensions strained peace talks between the regional adversaries, with both sides conducting waves of attacks for the first time since a ceasefire took effect in April. Meanwhile, Saudi Arabia cut July crude prices for Asian buyers to $9.50 above regional benchmarks, down from a $15.50 premium in June as demand softened, while Qatar quietly shipped liquefied natural gas through the Strait of Hormuz despite regional tensions.

Global Markets & Central Banks

German 10-year bond yields hit two-week highs as investors priced in Thursday's European Central Bank meeting, with the German factory orders falling more than expected in April amid concerns over Europe's largest economy contracting in the second quarter. The Reserve Bank of India prepared to tighten monetary policy in coming months to combat inflationary pressures, joining regional peers in a rate-hike push. South Korean authorities urged banks to step up measures against what they described as "speculative market-disrupting behavior" as the won slumped to multi-month lows.

Deals & Capital Markets

Blackstone sought to sell over $2 billion of stakes in private investment funds by bundling them into bonds for investors in what would be one of the largest deals of its kind. Universal Music Group sounded out investors for a potential €1 billion two-part bond sale after rejecting hedge fund billionaire Bill Ackman's takeover offer. In the biotech sector, Incyte agreed to acquire Vega Therapeutics for up to $2 billion to expand its hematology portfolio into bleeding disorders, while Roche entered into a $2.3 billion blood-cancer drug deal with Nurix Therapeutics, paying $700 million upfront.

Technology & AI Markets

Apple investors awaited AI announcements expected at next week's conference as they hope the iPhone maker will finally make a significant move in artificial intelligence after nearly two years of anticipation. The tech sector faced pressure as Nasdaq futures slipped following an AI-driven selloff, with investors weighing higher oil prices against earnings growth expectations. In a surprising development, a Korean leveraged ETF jumped 50% despite SK Hynix stock dropping nearly 8%, a dislocation the fund attributed to liquidity issues in the underlying shares.

Asian Market Developments

China's auto market further weakened in May as rising oil prices dented demand for gasoline-powered cars, helping electric and plug-in hybrid vehicles capture a record share of new car sales. Tencent Holdings prepared to raise approximately $3 billion in a dual-currency bond offering that could be priced as early as Tuesday. Meanwhile, India's index-eligible bonds recorded their largest inflow in almost a year after authorities announced measures to boost foreign purchases of the nation's debt, with the Reserve Bank of India's rupee defense tools passing $110 billion in recent weeks to a new record.