Public Markets 8 Hours

Last updated: June 10, 2026, 8:33 AM ET

Energy & Commodities

Oil futures extended gains during overnight trading as Shell CEO Wael Sawan projected prices will keep rising even after the Iran conflict ends, citing that "all the easy oil and gas has been found." The Suez Canal saw tanker traffic surge by nearly a third in April as the Strait of Hormuz shutdown diverted shipping routes, driving revenue to the highest levels since early 2024. Meanwhile, Iraq accelerated oil loadings at its main Persian Gulf port, joining other OPEC producers in pushing more barrels through the vital waterway. China began tapping commercial crude reserves to offset Gulf supply shocks, though the world's largest oil importer continues prioritizing lower refinery utilization. Physical oil markets remain under pressure despite 100 days of war disrupting supply chains.

Equities & Fixed Income

U.S. equity futures slid sharply ahead of the CPI report, with S&P 500 contracts falling 1.1% as technology weakness persisted following overnight military strikes between the U.S. and Iran. Hedging costs for the $9 trillion equity rally have jumped as sentiment shifted rapidly from fear of missing out to fear of getting wiped out. The euro strengthened against the dollar and could rise further if the ECB raises rates and signals back-to-back tightening, while bearish options on South Korea's Kospi 200 have climbed to levels warning of potential market declines.

Inflation & Central Banks

Fresh inflation data put investors on edge as the Federal Reserve weighs potential rate hikes to combat rising prices. The May CPI report analysis arrives amid mounting concerns that the Middle East conflict will add upward pressure on energy costs. Spot gold traded lower under pressure from geopolitical risks and firmer inflation expectations, while both gold and bitcoin have become "yesterday's FOMO trades" as the rally forgot these traditional safe-haven assets.

Technology & AI

Oracle earnings pose the next test for the shaky AI stock rally, with the software giant's results due after the close. Cyera raised $600 million in its latest funding round, valuing the cybersecurity startup at $12 billion as it positions itself for the AI era. Anthropic is attracting conservative investors through financial engineering that allows risk-averse capital to participate in the AI boom. China's $295 billion data center rollout will require continued power-grid investments to support electricity generation and networks.

Corporate Developments

Chewy cut its fiscal year outlook to $13.4-$13.55 billion in net sales, down from the prior $13.6-$13.75 billion forecast despite reporting higher sales and profit. Johnson & Johnson's CEO said a cure for certain cancers is a realistic goal as AI accelerates drug development, though the technology's impact on the bottom line remains unclear. MTN Group is finalizing fintech spinoffs in Nigeria and Uganda while adding Alipay as part of its mobile-money reorganization. Barry Diller views MGM's physical assets as more valuable in the AI age amid his $18 billion takeover bid for the casino group.

Geopolitical Market Impact

WH Smith shares tumbled 17% after the retailer announced a capital raise and cut guidance, warning of profit hits from the Middle East conflict at airport locations. DP World met bond investors to discuss performance since the U.S.-Iran war outbreak, as one of the world's largest port operators seeks to allay concerns. Workspace will raise rents to fend off activist Boaz Weinstein after reporting a £120 million loss on falling property values.

Emerging Markets

A subtle RBI rule tweak opened the door for up to $50 billion in additional inflows to India under a new incentive plan. Indian lenders are paying 7% on dollar deposits to lure overseas residents, testing central bank measures to attract fresh foreign currency. Turkey's central bank is poised to hold rates steady despite rising prices, using economic slowdown as cover amid subdued foreign currency demand. Sri Lankan rupee jumped over 2% after the central bank shortened export conversion periods to support foreign exchange.