Public Markets 8 Hours

Last updated: July 3, 2026, 5:30 AM ET

Global Markets & Macroeconomics

Global equities extended gains as a risk-on sentiment persisted, fueled by recent cooler-than-expected U.S. jobs data. The dollar weakened against a basket of major currencies, while European blue-chip indexes opened higher, driven by rebounds in technology and industrial sectors. In Asia, South Korean stocks surged 5% after a volatile week, underscoring investor sensitivity to the sustainability of the artificial intelligence boom. Japanese wage negotiations concluded for a third consecutive year with average pay increases exceeding 5% topping 5%, a resilience that reinforces the Bank of Japan's inclination to maintain its accommodative monetary policy.

Energy & Commodities

Oil prices remained broadly stable as ample near-term supply countered geopolitical tensions, with Brent crude futures forecast to slide to $60 a barrel by year-end, according to Citigroup. The bank cited easing disruptions in the Strait of Hormuz and a potential U.S.-Iran ceasefire as key factors. French oil major Total Energies SE is offering millions of barrels of Iraqi crude for prompt delivery to Asia, adding to supply swells. Japan, meanwhile, significantly reduced gas-fired power generation in favor of coal last month due to tightened LNG supplies stemming from disruptions around the Strait of Hormuz. Global food prices edged lower in June, as a ceasefire between the U.S. and Iran eased concerns over supply chain disruptions, though China urged "unimpeded passage" through the Strait of Hormuz amid ongoing chatter about transit fees.

Fixed Income & Currencies

The yen strengthened against the dollar as traders braced for potential intervention risks during thinner U.S. holiday trading hours, with Commerzbank suggesting Japanese authorities might refrain from supporting the currency. Options traders are increasing hedges against sharp yen fluctuations, reflecting speculation about less predictable intervention strategies. In Europe, business activity in the euro area was revised upward to stagnation for June, indicating better-than-initially-thought conditions. France's Finance Minister Roland Lescure aims for a 2027 budget that narrows the deficit to below 5% bringing deficit below 5%. Australian asset manager AMP Ltd. has removed bonds from some retirement funds, deeming sovereign debt no longer a reliable hedge due to its diminished diversification benefits.

Corporate & Investment

Taiwan's largest brokerage, Yuanta Securities Co., and its subsidiary are seeking up to NT$42 billion ($1.3 through two syndicated loans, with banks tapping for loans. Shares of Pluxee rose on revenue beat, as its third-quarter revenue decline was smaller than anticipated. Neobank Starling Bank plans to cut jobs simplify operations and restructure its banking and tech divisions. Standard Chartered Plc is targeting mid-sized African companies for debt sales, with a recent $50 million green bond placement for a solar home system financier paving the way for further issuances targeting African companies. ICICI Bank Ltd. is in talks to raise at least $500 million in offshore bonds, potentially marking its first benchmark dollar bond sale since 2017 mulling bond sale.

Technology & AI

AI factories are reshaping the power equipment market, forcing firms to re-evaluate portfolios for a sector projected to exceed $200 billion annually creating winners and losers. The AI trade is experiencing shifts as market participants grow uneasy about the profitability of substantial investments in the sector, with prices per usage unit drifting downwards AI trade losing signals. South Korean officials are preparing for currency flows related to SK Hynix Inc.'s offering of American depositary receipts, potentially as early as Friday preparing for currency flow. Anthropic is moving to close loopholes that permit Chinese access to its Claude AI model, as engineers continue to find ways to utilize the models despite stringent restrictions closing loopholes.

Dealmaking & Infrastructure

An Indian state is objecting to Mediterranean Shipping Co.’s planned $1.4 billion investment in an Adani Group-run terminal, intensifying scrutiny of the Swiss firm objecting to deal. Industrial machinery maker Renk Group AG has agreed to acquire privately held David Brown Defence, expanding its exposure to the naval sector nearing acquisition deal. Canada and Alberta have agreed to back a new crude pipeline to the Pacific Coast, a move aimed at positioning Canada as an energy-exporting superpower and reducing reliance on the U.S. backing new pipeline. Vietnam's economic growth unexpectedly jumped to 8.39% in the second quarter, with trade and inflation data also exceeding expectations Vietnam growth jumps.

Food & Retail

Global food prices eased in June as a ceasefire between the US and Iran reduced concerns of further disruptions to supply chains. Grocery giant Aldi's U.S. Chief Commercial Officer Scott Patton discussed strategies for lowering food costs, including the company's expansion into urban centers like Midtown Manhattan Aldi strategies discussed. Private equity firm Apollo is facing challenges in selling a Hispanic grocer after U.S. immigration raids impacted sales Apollo's grocery aisle mess.

Other Markets

The FTSE 100 index is poised to extend its gains, with the pound eyeing $1.34 FTSE 100 poised. Ukraine's escalating drone strikes and related disruptions in Crimea aim to pressure President Vladimir Putin to end the war Ukraine hopes pressure Putin. Football fans in Mexico have paid record prices for World Cup tickets, with some reaching $36,000 England-Mexico ticket prices soar.