Public Markets 8 Hours

Last updated: June 24, 2026, 11:30 PM ET

Public Markets Briefing

Technology & AI

Shares of semiconductor companies surged and Nasdaq futures climbed after Micron Technology Inc. delivered an upbeat forecast, projecting a memory chip shortage that could extend beyond 2027. Micron’s profits soared nearly 1,400% on robust demand driven by the artificial intelligence boom, while SK Hynix Inc. also saw its shares jump 12% on plans for a $29 billion U.S. listing. Qualcomm Inc. revealed Meta Platforms Inc. as its first major Big Tech customer for data center chips, also boosting its shares. Separately, Kioxia Holdings Corp. intends to offer US depositary shares in spring 2027, aiming to capitalize on AI-driven demand for semiconductor exposure. In Thailand, the stock market is emerging as a surprise AI winner in Southeast Asia, logging the best year among regional peers. Meanwhile, Anthropic accused Alibaba Group Holding Ltd. of illicitly accessing its Claude chatbot capabilities through fake accounts, escalating tensions between AI developers and Chinese e-commerce giants.

Fixed Income & Rates

China started marketing up to €5 billion of sovereign bonds, potentially its largest euro-denominated issuance. The country also urged domestic rating firms to curb the concentration of top-tier AAA ratings in its bond market to better assess credit risks. In Japan, Bank of Japan board member Naoki Tamura, one of the more hawkish members, called for interest rates to be raised every few months to counter rising inflation risks. Japanese government bonds rose in early trading, mirroring overnight gains in U.S. Treasurys. The Singapore dollar consolidated against its U.S. counterpart ahead of key U.S. economic data releases. Elsewhere, Philippine bonds are experiencing a significant rebound, but institutional skepticism remains due to inflation risks and a hawkish central bank may cap the bounce.

Commodities & Energy

Oil futures extended their drop to erase most of their wartime gains, driven by signs of swelling supply and progress toward a potential U.S.-Iran peace deal. Japan's liquefied natural gas stocks are seen benefiting from efforts to rebuild Middle East energy infrastructure and diversify supply. Chinese copper manufacturer Zhejiang Hailiang Co. believes its American customers will accept higher prices should the U.S. implement tariffs on refined copper, demonstrating confidence in U.S. demand. Meanwhile, gold edged higher, though it remained under pressure from a resurgent dollar and hawkish signals from the Federal Open Market Committee. Gold has steadied near $4,000 an ounce after falling below that level for the first time since November, impacted by the strong dollar and the prospect of higher interest rates weighing on sentiment.

US Markets & Corporate News

All of the largest U.S. banks cleared the Federal Reserve’s annual stress test, enabling them to immediately boost capital payouts through buybacks and dividends. JPMorgan Chase & Co. and Goldman Sachs Group Inc. were among those that passed the tests, with JPMorgan also dealing with PR issues stemming from an employee caught taking a Knicks-themed trash can, an incident that led to the employee’s termination from the bank. U.S. investment-grade bond sales set a record for June, propelled by investor demand and borrowing tied to AI spending, with companies like Nvidia Corp. and SpaceX contributing significantly. In the automotive sector, Bain Capital is nearing a deal to acquire a controlling stake in Volkswagen AG’s heavy diesel engine unit, Everllence. In a separate development, Lockheed Martin Corp. secured a U.S. contract valued at over $35 billion for its THAAD missile defense systems.

Global Economic Developments

Australia's hiring activity rebounded in May, reversing previous losses and pushing unemployment lower, which supports the Reserve Bank of Australia’s view of a tight labor market. U.K. auto manufacturing saw a slight increase in May, with the U.S. market showing the largest gain in shipments among export destinations. Power demand from data centers in Australia is projected to double electricity consumption by 2050, significantly increasing overall power needs. Indonesia, Southeast Asia's largest economy, faces risks to its status as a key emerging market, a position it has cultivated over decades with a GDP of about $1.5 trillion. In Brazil, a key ally of President Luiz Inácio Lula da Silva stepped down from Senate leadership amid a police investigation into ties with a failed lender.

Asia & Emerging Markets

Nikkei futures showed a bullish bias on the daily chart, indicating upward momentum following a recent market shakeout. Japan’s household assets rose 7.1% to ¥2,386 trillion ($14.7 by the end of March, reaching the second-highest level on record. In China, the central bank is introducing an overnight tenor into its open-market operations as part of a policy shift to reshape how it steers short-term borrowing costs, signaling a new stage. Jinko Solar Co., a leading Chinese manufacturer, expects to reach breakeven this year as government measures aim to alleviate sector overcapacity. Meanwhile, Iranian entities have moved over $3.84 billion through the crypto exchange Coin Ex, according to blockchain data analysis, raising concerns about illicit financial flows.