Public Markets 8 Hours

Last updated: June 25, 2026, 11:30 PM ET

Asia Markets & Currencies

Asian currencies traded mixed against a strengthening dollar, with the Hong Kong dollar hitting a 10-month low amid expectations of continued Federal Reserve rate hikes. South Korean stocks experienced a significant downturn, slumping 6% as a renewed selloff in chipmakers underscored their sensitivity to global AI sentiment. Chinese hardware technology stocks, after a recent tear, face the next hurdle of demonstrating earnings power to sustain their rally. Stocks in Asia were poised for a choppy open following volatile Wall Street sessions, where tech sector swings offset gains from chipmakers.

Commodities & Resources

Iron ore is on track for its seventh consecutive weekly loss, marking its worst streak since 2022, as seasonal demand wanes and steel mill margins contract. Oil futures declined amid expectations of a technical correction after overnight gains, though prices later held gains as traders assessed flows through the Strait of Hormuz following an attack on a cargo ship. The market is also grappling with the aftermath of the attack, with one report indicating movement through the Strait of Hormuz was halted after the incident. Gold prices fell in early Asian trade, with some analysts suggesting further declines are possible, though other reports indicate gold steadied near $4,000/oz as easing inflation data tempered interest rate hike bets.

US Markets & Corporate Activity

U.S. stocks presented a mixed picture, with the Dow Jones Industrial Average edging up 0.14% while the Nasdaq Composite saw a 0.46% decline. In corporate news, Reformation Inc., the sustainable womenswear brand backed by Permira, filed for a U.S. IPO, disclosing increasing sales. ON Semiconductor announced an all-stock acquisition of Synaptics for $7 billion, aiming to bolster its AI compute platform and human-machine interface technologies. FedEx Freight projected revenue growth of 4% to 6% for the second half of the year following its spinoff. Meanwhile, Wendy's shares surged as individual investors rallied around the fast-food chain.

Financial Services & Succession

The race to succeed Jamie Dimon as JPMorgan CEO saw a notable shift, with Marianne Lake reportedly no longer a contender for the top role. In broader financial services, Cathay United Bank Co. Chairman Kuo Ming-jian resigned following a regulatory breach at an affiliate. Huachen Energy Co. is planning to present a bond restructuring proposal to investors, including $627 million in dollar-denominated notes, after a payment delay.

Technology & AI

OpenAI is reportedly leaning toward delaying its initial public offering until 2027, according to sources cited by The New York Times. The U.S. government has requested OpenAI stagger the release of its new model to allow for user vetting. In semiconductors, the U.S. is investing $250 million in I-Pulse Inc. for chip and pulsed-power development as part of efforts to reduce foreign reliance.

Legal & Regulatory Landscape

A billionaire tax ballot measure in California faces opposition from wealthy individuals seeking to nullify it through two ballot issues in November, reflecting broader tensions over economic inequality. In New York City, Mayor Zohran Mamdani's pledge to freeze rents for rent-stabilized apartments was approved by a city panel. The legal sector is actively responding to upheaval from AI and new firm structures, with discussions around ethical AI rows potentially leading to litigation and in-house legal teams exploring how AI can shed repetitive tasks. Wall Street law firms are also contemplating a new era of insider trading risks following alleged information misuse.

Global Development & Politics

Venezuelan nationals in South Florida are attempting to locate friends and relatives after two earthquakes struck Venezuela, with Jorge Erazo among those reported missing. The Supreme Court has expanded Trump’s immigration power, including a ruling that allows the administration to end humanitarian protections for Haitians and Syrians, paving the way for potential deportations, a move that has drawn scrutiny regarding race and remarks made during the administration's tenure. In Vietnam, farmers have received eviction notices to make way for a Trump Organization-branded luxury golf resort project.

Australian Retirement & UK Property

New research indicates that half of Australian adults have never sought retirement advice, suggesting many are inadequately prepared for their post-work years. Meanwhile, profits at The Crown Estate, which generates income for King Charles III, have declined due to a fading boost from offshore wind farm licensing fees.