Public Markets 8 Hours

Last updated: August 8, 2026, 8:35 AM ET

Equities

Pfizer is grappling with a severe downturn after its Covid-era triumph, as sliding vaccine revenues and concerns it overpaid for new drugs pile pressure on CEO Albert Bourla. In a temporary boost for the pharmaceutical sector, a US judge blocked the Defense Department from designating WuXi App Tec as a Chinese military company, granting the contractor short-term relief. The so-called electric-vehicle honeymoon is fading: EV owners who got hooked on cheap leases are now facing higher prices or shifting to hybrids and gas cars. On a lighter note, high-profile celebrities including Reese Witherspoon and Olivia Rodrigo are being seen with private equity partners, highlighting the finance sector’s cultural cachet.

Fixed Income, Currencies & Digital Assets

UK government bond markets face potential turbulence as Treasury officials fear the prime minister’s talk of using “flexibility” within fiscal rules to ramp up investment could backfire by destabilizing financial markets. The mixed record of currency interventions underscores the difficulty of fighting macro forces with FX moves. Meanwhile, a landmark crypto bill has stalled in the US Senate despite a $225mn lobbying push, as lawmakers spar over the legislation. The Senate passed a stopgap spending bill more than a month before the deadline, averting a government shutdown and avoiding a messy fight ahead of midterms.

Commodities & Energy

Geopolitical tensions continue to roil energy markets. A fire was sparked at Russia’s Ilsky oil refinery in the Krasnodar region by Ukrainian drone debris, injuring five people, as Ukraine intensifies strikes on Russian refineries and the shadow fleet. Meanwhile, Yemen teeters on the brink of civil war, with the Yemeni government’s conflict against Iran-backed Houthi rebels escalating overnight as the Middle East waits to see if a deal can reopen the Strait of Hormuz. Ukrainian President Zelenskyy made a landmark first visit to Serbia, a country whose leader has scaled back once-close ties with Russia, further shifting regional energy and trade dynamics.

Industrials & Healthcare

The collapsed car-parts maker First Brands is urging a court to approve a bankruptcy settlement that would fund lawsuits to pursue billions of dollars in claims from an alleged fraud scheme. The NFL-backed “Hall of Fame Village” in Canton, Ohio, faltered after hundreds of millions were spent, the league backed out, and the project remains unfinished, as reported here. In healthcare, Medicare Advantage perks are drawing scrutiny: officials rejected plans to expand extra benefits to cover medical marijuana, streaming services, and shopping clubs, with changes coming in 2027.