Public Markets 8 Hours

Last updated: June 22, 2026, 8:30 PM ET

Public Markets Roundup

Middle East Tensions & Energy Markets

Oil futures edged higher as traders assessed the implications of ongoing US-Iran peace talks, following a near 3% drop in the previous session. The US has eased sanctions on Iran’s oil, allowing for the sale of crude in dollars and reopening the US market to Iranian oil for the first time in 35 years. Iran shipped approximately 30 million barrels of oil in the week prior to the US waiver, signaling a significant influx of crude onto the global market. Hedge funds had boosted bearish bets on US crude ahead of these developments, anticipating increased Middle East oil flows. Despite disruptions to energy markets from the Iran war, the UK expects secure power supplies this winter. Gold, meanwhile, steadied near $2,340 as early progress in US-Iran peace talks tempered inflation concerns.

US Equities & Corporate News

Shares in Elon Musk’s AI and rockets group tumbled over 16%, shedding an estimated $400 billion in market value following a rise in US bond yields. The company is also reportedly planning to sell at least $20 billion in bonds. Elsewhere in tech, Qualcomm Inc. is nearing a deal to acquire AI chip startup Modular Inc. for approximately $4 billion. Chevron signed a 20-year agreement with Microsoft to develop a data center in Texas, potentially including a gas-fired plant. In the automotive sector, federal regulators are investigating a fatal Tesla crash in Texas where the driver-assistance system was reportedly in use.

Avis Budget Group Inc. is set to receive $650 million in cash from Pentwater Capital Management as part of a settlement related to short-swing profits. Edgewell Personal Care Co. rejected an unsolicited takeover bid from private equity firm Yellow Wood Partners. Alimentation Couche-Tard’s profit rose in the fourth quarter, driven by same-store sales growth and higher fuel margins, though fuel volumes declined in Europe and the U.S. The operating company of On the Border Mexican Grill has filed for Chapter 7 liquidation, closing company-owned locations.

Global Markets & Macroeconomics

Asian stocks were poised for a positive open, with oil largely holding its ground after recent declines. Japanese retail FX traders have shifted their stance, stopping bets against the yen as the government signals intervention, putting them at odds with professional investors. European Central Bank President Christine Lagarde stated that China should be included in any Group of Seven discussions on currency imbalances. Venezuelan bonds tumbled to a two-month low as investors anticipate a review of the nation’s debt and economic outlook. Germany's RWE plans a $4.75 billion capital raise to increase its stake in Amprion.

Initial Public Offerings & Debt Markets

Bending Spoons SpA, which acquires software businesses, and its backers are seeking to raise up to $1.62 billion in an initial public offering. Sony Group Corp. is preparing its first dollar-bond sale in nearly three decades. Meanwhile, SpaceX is reportedly preparing a bond-market debut, seeking to raise at least $20 billion. The company has also entered into a $6 billion deal with Reflection AI to rent data-center space for developing open-source models.

Regulatory & Legal Developments

A federal judge ruled that a citizenship data tool cannot be used to screen voters, finding that its provision to states for voter roll purges violated several laws. The Justice Department is reportedly making it easier to bypass pollution controls on pickups by stopping criminal prosecutions for installing "defeat devices." A judge also found Justice Department overreach in subpoenas issued to Minnesota officials, quashing them as designed to harass and retaliate. In a separate development, a group of California consumers has sued gas station owners, including Walmart and BP, alleging the use of AI to illegally inflate prices.

Other Notable Developments

USA Rare Earth Inc. pushed back against allegations by rival MP Materials Corp., calling a lawsuit an attempt to hinder its growth. Domino's Pizza has appointed an insider as its new CEO. Psychedelic drugmaker Definium Therapeutics Inc. shares surged as much as 60% following positive late-stage trial data for its depression treatment. Trading on CME Group Inc.’s CME Direct platform resumed after a brief disruption. Exchange-traded funds continue to attract record inflows, reaching a trillion-dollar pace despite persistent inflation and market volatility.