Public Markets 8 Hours

Last updated: August 5, 2026, 11:32 PM ET

Asian Markets and US Equities

Asian stocks are poised to ease Thursday as investors digested gains in technology shares while watching for fresh signs of progress toward a deal to reopen the Strait of Hormuz. Japanese stocks were lower in early trade following Wednesday’s sharp gains led by artificial intelligence-related shares. The Nikkei fell 1.3%, dragged by electronics stocks. U.S. stocks finished mixed as optimism about the reopening of the Strait of Hormuz was offset by more volatility in artificial-intelligence wagers. The blue-chip average notched its 24th high of the year, while the Nasdaq slipped.

Corporate Earnings and Outlooks

MetLife Inc.’s second-quarter earnings surpassed Wall Street’s expectations, boosted by strong underwriting, volume growth and the success of a five-year plan outlined in late 2024. Motorola Solutions lifted its outlook, expecting full-year adjusted earnings between $17.62 and $17.72 a share on revenue of about $12.98 billion. Block raised its full-year guidance and reported higher second-quarter revenue as growth in its commerce and financial solutions businesses helped to offset declines in Bitcoin. EBay lifted its outlook as the Depop acquisition closed and revenue rose, reporting higher revenue of $3.13 billion and expecting gross merchandise volume to grow between 11.5% and 12.5% in 2026. Expedia raised its revenue view on higher profit and revenue, now expecting annual revenue to be $16.05 billion to $16.22 billion, up from a previous range of $15.6 billion to $16.0 billion. News Corp’s revenue rose, with growth across all segments, and digital-only subscriptions to The Wall Street Journal averaged nearly 4.5 million in the quarter, compared with 4.33 million in the prior quarter.

Duolingo Inc. shares fell as much as 12% on Wednesday after the company’s conservative revenue outlook for the current quarter overshadowed user growth. The New York Times stock plunged 13% as subscriber growth slowed, with total revenue climbing 11% to $762.5 million in the second quarter. Goodyear swung to a loss of $204 million, or 71 cents a share, on lower tire volume and higher costs, compared with a profit of $254 million, or 87 cents a share, in the year-ago quarter. Zillow posted a loss of $4 million as restructuring costs of $36 million weighed on the bottom line despite higher revenue. Door Dash’s profit fell as higher costs of revenue from more orders, as well as increases in sales, marketing, and research and development expenses and other overhead costs, offset revenue growth. AppLovin said its second-quarter results fell short of its standards, as profit and revenue growth continued but were not quite up to par.

Technology and AI Investments

Celestica Inc. is looking to raise $3 billion from selling new shares, joining a flurry of companies raising funds for data centers to power the artificial intelligence buildout. Sandisk revenue soared on AI data storage demand, with the company posting a higher net income of $6.9 billion as the artificial-intelligence buildout continued to fuel demand for data storage. Western Digital reported a more than elevenfold increase in its fourth-quarter profit, driven by continued strong demand for its memory technology. Chip giant SK Hynix Inc. suffered its second short-lived share plunge in about a week, raising fresh questions about trading volatility on South Korea’s alternative stock exchange. SpaceX stock dropped on ballooning AI costs, with Google reshuffling senior AI ranks and Shake Shack drawing an activist. China’s rapid progress in low-cost artificial intelligence is strengthening the investment case for the country’s internet giants after years in the shadow of chipmakers, market participants say. African tech hubs are seeing developers pick China’s cheap, freely available artificial intelligence models over more powerful U.S. ones.

Financial Markets and Monetary Policy

Traders in India are dialing back October rate-hike bets after dovish Reserve Bank of India (RBI) speak, with the earliest anticipation of a rate hike now in December. Gold advanced in early Asian trade after gaining overnight on a softer dollar and lower Treasury yields. JGBs rose in early Tokyo trade, tracking overnight price gains in U.S. Treasurys. Treasury yields edged slightly lower ahead of Friday’s employment report from the BLS after weaker-than-expected private payrolls data. The WSJ Dollar Index fell 0.2%, down six of the past seven trading days. The way Scott Bessent is conducting his yen trade should make us worry that the Federal Reserve is being roped into easing monetary conditions. Global bond and currency investors are debating if it’s time to dust off last year’s ‘Sell America’ trade after a flurry of economic-policy decisions out of Washington over the past two weeks.

Deals, Investments, and Legal Matters

India’s plan to sell more shares in its insurance giant LIC was no secret, but the government surprised the market by how much it raised and the pace of the $3.3 billion deal. LIV Golf is pursuing a “grand bargain” with Saudi wealth fund and BC Partners, as potential investors seek assurances that the lossmaking tour’s star players will stay on. Two private credit funds managed by Blue Owl Capital Inc. bought back a combined $90 million of shares, marking a consecutive quarter of repurchases as the asset manager sought to steady the vehicles. One investor bought into an SPV fund touting pre-IPO “exposure” to SpaceX was later told the shares were sold before trading began. A former executive alleged JPMorgan improperly denied reimbursements of more than $100 million to customers who were victims of financial scams, prompting prosecutors to probe whistleblower claims. Fitch Ratings said it is upgrading 30 portions of collateralized loan obligations, in addition to the hundreds of tranches it had said previously it was considering for upgrades under a new methodology.

Regulatory and Political Developments

The Food and Drug Administration (FDA) approved Moderna’s mRNA flu vaccine, reversing an initial refusal to review the application after a public outcry. A Senate panel scheduled a vote on contempt of Congress for Dr. Anthony Fauci after he declined to answer questions at a hearing last week, raising legal issues. Federal agents are using flight manifests to arrest travelers with lapsed visas at airports, drawing objections from airlines over safety and protocol. Marine One the helicopter that ferries the president, came within less than a mile of an Envoy Air flight on Tuesday, raising new concerns about air traffic control in the congested Washington airspace. The CIA has set up a secret Cuba task force to quickly direct more financial, human and technical resources at the island, aiming to create fissures among the Cuban political elite. Trump’s goal of building a “golden fleet” of 15 battleships could cost $275 billion, according to a government estimate, meaning the cost of his namesake warships is likely to rise by 50 percent or more.

Other Business and Social News

TikTok is laying off 250 employees in its Nashville office, which was home to members of the app’s content moderation team. Etsy will cut 12% of its workforce as CEO focuses on the core marketplace, with the cuts not driven by cost-cutting initiatives or artificial intelligence. The US suspended government activities in the Mexican state of Michoacan, affecting imports of avocados from the largest producing region in the country to the US. Applications for indefinite right to work, live and study in New Zealand have risen after rules were eased, with California’s rich snapping up the country’s “golden visas.” Glencore is issuing depository receipts in Sydney to enable Australia’s mining investors to buy and sell its shares in a local wrapper, a move that will allow the company to triple nationality. A Malaysian pilot was arrested last week at the Jakarta airport for smuggling 55 pounds of ecstasy into Indonesia, and he also tested positive for ecstasy and cocaine. The death of a Salvadoran immigrant at the federal detention center in Newark has raised questions about the conditions there. Jason Arday hired by the University of Cambridge in 2023 as the youngest Black professor in its history, has resigned amid doubt cast on his academic qualifications and claims about his life.