Public Markets 8 Hours

Last updated: August 8, 2026, 11:38 AM ET

Geopolitics & Trade

Canada is offering U.S. concessions in trade talks to prevent 50% tariffs on its goods, but Prime Minister Mark Carney demands a comprehensive deal. Tensions escalated in the Middle East as an Iranian missile targeted a UAE tanker, even as Tehran said it was close to finalizing a shipping management deal with Oman for the Strait of Hormuz. Meanwhile, Yemen teeters on civil war as the government’s conflict with Houthi rebels escalated overnight, threatening regional stability. In Washington, the Senate passed a stopgap bill to avert a government shutdown more than a month before the spending deadline, reflecting bipartisan eagerness to avoid a messy fight before midterms. Also confirmed was Todd Blanche as attorney general after overcoming GOP concerns about his willingness to rein in President Trump.

Equities & Corporate

Berkshire Hathaway’s Greg Abel ended a more than three-year selling streak, putting $20bn net into stocks as he finally deploys Warren Buffett’s massive cash pile. Pfizer grapples with “a world of hurt,” facing sliding vaccine revenues and fears it overpaid for new drugs as post-Covid pressure mounts on CEO Albert Bourla. Netflix, still hunting for this year’s blockbuster, paid an actor to spend three days inside a billboard on Sunset Boulevard to promote an upcoming thriller. The NFL-backed “Hall of Fame Village” in Canton, Ohio, faltered as hundreds of millions were spent and the league backed out, leaving the project unfinished.

Commodities & Energy

A solar eclipse threatens to tighten Europe’s electricity squeeze as the continent’s power system already faces stress from heatwaves. Italy’s heat wave is spreading to Western Europe, with red high-temperature warnings still in effect for much of southern and western Italy through Saturday, further pressuring energy grids.

Crypto

It was a tough week for crypto, but by Thursday evening traders were downing drinks at a Bitcoin bar in New York. Meanwhile, a landmark crypto bill stalled in the US Senate despite a $225mn spending push by lobbyists, as lawmakers spar over regulation.

Fixed Income & Currency

Currency interventions have a mixed record; you can’t fight macro with FX interventions, analysts warn, as central banks struggle to influence exchange rates amid strong macroeconomic forces.

Consumer & Healthcare

After years of office casual, young professionals are embracing loafers and oxfords, signaling that fancy sneakers at work might now be a sign of being old. America’s electric vehicle honeymoon is ending as drivers who got hooked on great lease deals now face higher prices, turning to hybrids and gas cars – EV owners must decide where to go next. Medicare Advantage plans are getting scrutiny: officials said no to health plans wanting to cover medical marijuana, streaming services and shopping clubs, with changes coming in 2027.

Deals & Finance

First Brands is urging a court to approve a bankruptcy settlement that would fund lawsuits pursuing billions of dollars in claims arising from an alleged fraud scheme at the collapsed car-parts maker. This summer’s hottest arm candy is a private equity boyfriend, with Reese Witherspoon, Nicole Kidman and Olivia Rodrigo all hanging out with finance guys.