Public Markets 8 Hours

Last updated: July 6, 2026, 5:30 AM ET

Global Markets Snapshot

U.S. stock futures rose in early trading as markets awaited fresh impetus, with major tech stocks set to dominate the week's earnings calendar. Samsung earnings and SK Hynix's U.S. listing will test investor appetite for artificial intelligence, while a report of delays in Nvidia's next-generation AI server rack system sent Asian tech stocks sliding on Monday. Europe's "Goldilocks moment," marked by a rotation out of tech, faces risks from potential cracks in the AI trade, though the continent's immunity is being tested as AI costs mount.

Equities & M&A

The public markets saw significant deal activity, with Novartis agreeing to acquire a UK biotech firm for $1.5 billion, a company spun out from Imperial College and the Francis Crick Institute. In the aviation sector, EasyJet reached an outline agreement for a £5.5 billion takeover by Castlelake, with the latest proposal valuing the UK airline at £6.90 per share. Comcast’s Sky agreed to buy ITV’s media and entertainment unit for up to $2.14 billion, a deal that will see ITV spin off ITV Studios into a separate entity. Private equity firm CVC Capital Partners raised approximately €3 billion for a new mid-market buyout fund, expanding its franchise into smaller deals. Meanwhile, Abu Dhabi's Mubadala Investment Co. is opening one of its largest credit businesses to outside investors.

Commodities & Energy

European natural gas prices slipped 1.3%, though remaining up more than 5% for the week, as a recovery in LNG flows and demand risks in Asia persist. Oil prices fell on OPEC+ output hikes and a continued recovery in shipping through the Strait of Hormuz. Gold futures rose after weaker U.S. jobs data, posting their first weekly gain since May and reducing expectations of a Federal Reserve interest-rate hike. Corn futures surged after heatwave damage to crops in France, a key EU producer. Iron ore also advanced on expanded curbs by China's state-backed buyer on Fortescue Ltd. and as falling prices attracted buyers.

Geopolitics & Macroeconomics

The geopolitical landscape remains tense, with Russia launching deadly ballistic missile strikes into Kyiv on the eve of a NATO summit. China conducted a long-range ballistic missile test in the Pacific as Australia secured defense deals with island nations. The euro fell against the dollar, though Commerzbank suggests it could rise if the European Central Bank raises rates further in September. The pound has shown unexpected resilience, defying trader bets on a retreat amid UK political and economic shifts.

Company News & Investigations

Taiwanese authorities searched Evergreen Marine premises as part of a probe into suspected insider trading. In the UK, Ocado CEO Tim Steiner will step down in 2028 following a boardroom tussle. Continental agreed to sell its Conti Tech business to Lone Star Funds for approximately 3.1 billion euros. The National Stock Exchange of India Ltd. is reportedly preparing a $3 billion IPO for next week.

Other Markets

The City of Johannesburg sees a path to a ratings upgrade from Moody's, with a positive outlook on credit. South Korean lawmakers are raising concerns over the risks of single-stock leveraged ETFs, with calls for some products to be delisted. The yen is forecast by Goldman Sachs to weaken to 165 per dollar within a year, driven by interest rate differentials.