Public Markets 8 Hours

Last updated: June 25, 2026, 5:30 PM ET

Artificial Intelligence & Tech

OpenAI is leaning towards delaying its IPO until next year, as advisors suggest a more cautious approach given market volatility and the company's financial considerations. This comes as competition intensifies, with Chinese AI models gaining ground on industry leaders like OpenAI and Anthropic, offering comparable performance at a lower cost. Meanwhile, research indicates that AI's prowess in stock market timing may be overstated, with large-language models showing initial success but failing to outperform the market over extended periods or in dynamic conditions. Separately, Apple has raised prices on Macs and iPads, citing escalating costs for memory and storage chips amid the AI boom.

Mergers & Acquisitions

ON Semiconductor is acquiring Synaptics in an all-stock transaction valued at $7 billion, aiming to bolster its AI compute platform and human-machine interface technologies to meet rising demand for sophisticated AI solutions. In the automotive sector, Stellantis and Nissan are in talks to acquire assets from the financially distressed auto-parts maker Marelli Holdings Co. as it undergoes bankruptcy reorganization. Volkswagen's sale of its struggling EV unit, Everllence, suggests that even ailing automakers may possess hidden value in their divisions.

Energy & Commodities

Movement through the Strait of Hormuz has been halted following an attack on a cargo ship near Oman, prompting a UN agency to pause ship evacuations from the Persian Gulf. This incident, coupled with Iran's warnings to ships in the vital waterway prompting diversions, has contributed to inflation. The conflict has also led to US airline stocks erasing pandemic-era losses as lower oil prices ease pressure on the sector. In a separate development, US natural gas futures rose as weather models indicated increased cooling demand.

Markets & Investment

Hertz Global Holdings Inc. is experiencing a record-setting stock rout for a second consecutive day, driven by its funding plan and profit guidance. Credit-default swaps tied to SpaceX have begun actively trading following the company's debut bond sale, allowing investors to hedge against potential defaults. The SpaceX IPO is also drawing attention to new ETFs and the evolving power dynamics between companies and public investors, particularly those utilizing dual-class share structures. In private credit, one fund has restricted exits for four years, raising concerns among wealth advisors about the timeline for investors to retrieve their capital.

US Policy & Politics

President Trump has requested $11.1 billion in new aid for struggling farmers, a significant assistance package aimed at bolstering the agricultural sector. The US is investing $250 million in I-Pulse Inc., a venture co-founded by Robert Friedland, to support domestic semiconductor and pulsed-power development as part of efforts to reduce foreign reliance. The Army will lease land on bases to mining companies for critical mineral production, a move aligned with establishing domestic supply chains for essential industrial inputs. Meanwhile, a federal judge has struck key parts of a Trump order that restricted mail voting, rejecting an attempt to alter federal election procedures via executive order.

Global Economy & Trade

The Supreme Court has allowed the Trump administration to block asylum seekers at the border, a policy that could be reinstated for border control purposes. This ruling follows a broader decision to end humanitarian protections for Haitians and Syrians, potentially making 1.3 million people vulnerable to deportation. In Europe, electricity prices are soaring as a severe heatwave fuels demand for air conditioning and strains energy systems. The continent continues to battle record temperatures, with Spain reporting a potential spike in deaths attributed to the deadly heat wave.

Corporate & Legal

Chemours will pay $450 million in the first federal settlement addressing the dumping of PFAS "forever chemicals," which have been linked to various health risks. In a victory for Bayer, the US high court has handed the company a crucial win over Roundup weedkiller lawsuits, overturning a verdict that alleged the manufacturer failed to warn about the herbicide's cancer risks. Red Lobster's all-you-can-eat shrimp deal is being scrutinized in a lawsuit alleging it was a scheme to pressure the financially troubled restaurant chain into bankruptcy.

Company News & Updates

FedEx Freight is forecasting growth of 4% to 6% for the remainder of the fiscal year, reflecting confidence in the underlying strength of its business following its spinoff from FedEx. Delta Air Lines Inc. experienced a fire at its refinery in Trainer, Pennsylvania. In the UK, Tesco's re-entry into the broadband market is expected to be profitable, leveraging its brand recognition and existing customer base.