Public Markets 8 Hours

Last updated: July 1, 2026, 2:30 PM ET

Public Markets Roundup

IPOs & Public Offerings

The initial public offering market showed signs of life as Bending Spoons SpA, owner of AOL, jumped 14% above its IPO price, raising a total of $1.68 billion. Electric scooter and bike operator Lime also gained 8% in its IPO, having raised $174 million. Tech company Plaid Inc. is reportedly considering a US IPO, aiming to tap public markets after its success in facilitating fintech connections. Meanwhile, autonomous driving software firm Wayve Technologies Ltd. filed to sell shares on the London Stock Exchange’s new Private Securities Market, marking the first major company to test the platform.

Corporate & Deal Activity

French shipping company CMA CGM will buy FedEx Supply Chain for $1.4 billion, integrating ocean transport and carrier services. In the retail sector, Kroger has agreed to acquire Giant Eagle for $1.65 billion in cash and assumed liabilities. National Grid plans to invest $1.75 billion for a 35% stake in Joulent, a U.S. energy infrastructure developer. Hedge funds Millennium Point72 posted double-digit returns in the first half of the year, rebounding strongly.

Technology & AI

The burgeoning artificial intelligence sector is driving significant investment, with a private bond market dating back over a century opening a new front for AI funding. Guggenheim upgraded several software companies, suggesting fears of AI posing a "death knell" for the sector are overblown. Anthropic received a reprieve from the Trump administration, restoring access to its powerful AI models, though regulatory concerns persist. Meanwhile, Together AI, specializing in open-source AI, is now valued at over $8 billion. Scientists have also unveiled "Spud Cell," a synthetic cell with life-like characteristics aimed at powering low-carbon factories.

Economic Indicators & Central Banks

U.S. manufacturing activity expanded at a slower pace in June, with the ISM purchasing managers' index at 53.3, a slight decrease from May. Commercial crude oil inventories continued their decline, falling by 3.8 million barrels. Federal Reserve Chairman Kevin Warsh indicated that inflation risks have lessened compared to previous weeks, though the central bank remains committed to price stability. The European Central Bank, however, saw mixed signals on future rate policy. Governing Council member Yann Stournaras suggested the likelihood of further rate hikes had diminished due to falling energy prices, while Ulo Kaasik maintained that one more hike might be reasonable to ensure inflation targets are met. President Christine Lagarde stated that risks to euro-area inflation and growth have become "more broadly balanced."

Commodities & Energy

Oil markets saw UAE exports restore pre-war levels through strategic tanker movements and pipeline bypasses. Coffee and sugar futures extended their rally on concerns over supply disruptions from adverse weather. Slovakia is set to revive its aluminum plant, once a major European producer, amid the Trump administration's push to bolster domestic industries, with a Missouri smelter also slated to restart production.

Regulatory & Legal Matters

A Swedish court ordered Google to pay nearly $2 billion to Klarna in an antitrust case, ruling that the search giant favored its own price-comparison service. Binance has cut off European users after a regulator raised financial-crime concerns regarding its application to operate under a new regime. In Hungary, a mayor called on a Chinese battery-parts maker to leave over pollution allegations.

President Trump & Political Landscape

President Trump claimed that chip maker Micron would make a $250 million donation to a new children's investment account. His investment accounts reportedly made over 20,000 trades last year, with his crypto-related income exceeding that of publicly traded U.S. digital-asset companies. The Trump administration also took aim at EU emissions laws, warning of potential energy redirection. Bipartisan backing for the USMCA trade deal with Canada and Mexico was indicated in a new poll, despite the president's renegotiation efforts.

Other Markets & News

The head of BlackRock Inc.’s private credit fund is departing the firm following months of losses and a regulatory probe. Private credit investors are becoming more discerning amid a "confidence gap," according to Pimco. Argentina's bond rally may face headwinds from upcoming presidential elections, which could revive concerns over its economic past. In a notable event, two individuals climbed the Empire State Building and unfurled a flag.