Public Markets 8 Hours

Last updated: August 10, 2026, 11:40 AM ET

Equities

US stocks opened flat Monday as focus turned to chipmaker earnings and inflation data. The S&P 500 and Nasdaq were little changed, with the market near record levels. Chipmaker earnings this week could provide confirmation for the long-running AI debate. Major indexes edged back from records, with oil higher adding to cautious sentiment.

Shein’s IPO is being pitched to investors at a sub-$30bn valuation, a roughly 70% drop from its peak four years ago. Emerging-market stock valuations have fallen to less than half those of US equities for the first time in two decades, signaling attractive opportunities to some. Private equity firms are stuck with 33,575 unsold businesses, unable to exit at required values despite a booming deal environment. London’s public markets need more capital to revive, said the LSE’s deputy CEO, as UK companies shift listings to the US.

Tractor Supply shares climbed to record highs after strong earnings, though the company is also cutting prices and scaling back expansion. The farm-and-ranch chain is lowering prices and closing pet-specialty stores as shoppers delay purchases. e.l.f. Beauty’s CEO discussed lessons from a family business. Intel plans to offer $15bn of common stock, citing strong customer demand driven by AI compute investment. Cloudflare is selling $2.175bn in convertible notes after a guidance boost sent shares to an intraday high.

Fixed Income & Currencies

Treasury yields rose ahead of US inflation data due later this week, as Wall Street expects stable readings. The yen sank as the effect of US-Japan intervention faded, giving up roughly half its gains from the joint action. The dollar strengthened against the yen; Goldman Sachs said a BOJ rate hike next month would help bring long-term yen strength.

Energy & Commodities

Oil prices climbed on a stalemate in the Strait of Hormuz, with hopes dashed for a breakthrough over the weekend. Trump’s low-key pivot leaves Hormuz oil in limbo, prolonging uncertainty. Iran insists the strait will stay closed until demands are met, though talks with Oman continue on shipping routes.

U.S. natural gas futures surged by the most in over two months on hotter weather forecasts, triggering short-covering among bearish money managers. Futures rebounded as near-term forecasts called for hotter weather favoring power-sector demand. Grain LNG appointed Peter Abdo as CEO from October; the UK’s largest LNG import terminal. Adnoc Gas will invest over $8bn in expansion after exiting OPEC.

Gold is rallying again, driven by ETF inflows and central bank buying. A chicken glut is dragging down meatpackers and lowering grocery bills due to larger flocks and breeds. Sugar futures rallied despite a warning from trader Sucden about oversupply and blurred outlook from data gaps. Kenya plans to import one million 90-kg bags of corn after a failed crop. Record-low Danube levels strain Black Sea grain routes as Ukrainian grain diversions intensify. Dairy farms are turning to high-oleic soybeans for richer milk and cheaper feed, giving US growers a new market.

Deals & Corporate Actions

Glencore led a consortium offering a rival bid for troubled Canadian miner Sherritt International. Barrick Mining settled its Nevada dispute with Newmont for $1.95bn, clearing the way for an IPO of its North American assets. The truce unlocks a potential spin-off.

Strategy Inc. sold more Bitcoin and common shares to bolster its cash stockpile. Boeing is selling three autonomous flight subsidiaries to Archer Aviation in exchange for a 16.5% stake. The jet maker is folding its flying-taxi venture into Archer, selling Wisk Aero and others. Teledyne Technologies will buy Varex Imaging for $1.1bn. Duke Energy is raising $1.75bn through an equity units offering to pay down debt.

Palmer Luckey-backed bank Erebor is set to raise $1.5bn. Revolut won a French banking licence, accelerating its European expansion. John Lewis boss Peter Ruis stepped down amid “really tough” trading. Diageo looks to revive lagging liquor icons Crown Royal, Smirnoff and Captain Morgan.

The US pledged $2bn for battery and materials producers. Italy fined utility A2A €5m for 2022 power market manipulation. Investors are dropping bitcoin for AI stocks, according to a report on the trade stealing crypto’s thunder. Warren Buffett is buying again, while food scares serve up profits for Yum Brands.

Other Markets & Sectors

Waymo is growing faster than ever but encountering more “edge cases” in 15 US cities. Meta unveiled an open-source version of its most powerful AI model, Muse Glimmer, intensifying the debate on openness. Mark Zuckerberg attacked “closed” AI rivals as Meta returns to open models. A.I.-driven chip demand is causing a crunch, leading to a new lobbying rush in Washington as electronics companies ask for government help. The hidden leverage of AI hyperscalers is massive, according to an FT analysis.