Public Markets 8 Hours

Last updated: August 10, 2026, 5:39 PM ET

Equities

U.S. stocks edged back from records Monday, with the S&P 500 turning lower after finishing last week at a new all-time high, as U.S. stocks declined across major indexes. The retreat came as demand for portfolio protection dropped to its lowest since President Donald Trump’s tariff retreat last year, with investors abandoning hedges to chase the rally. Rocket Lab narrowed its loss and posted surging revenue, ending the quarter with a $2.36 billion backlog, a 137% year-over-year jump. Hims & Hers Health swung to a second-quarter loss but boosted its 2025 revenue target to $3.1 billion–$3.3 billion from a prior $2.8 billion–$3 billion. Fast-fashion retailer Shein pitched its IPO to investors at a sub-$30 billion valuation, a roughly 70% decline from its peak four years ago. Boeing agreed to sell three autonomous flight subsidiaries to Archer Aviation in exchange for a 16.5% stake in Archer. Gautam Adani won dismissal of U.S. securities fraud charges, removing a major overhang for the Indian billionaire’s conglomerate. World’s largest meat supplier JBS returned leadership to the Batista clan with a scion named next CEO. In the sports investment arena, a Jeff Bezos-led consortium is nearing a stake in Liverpool FC that could value the club at over $6 billion. Codelco, struggling to revive copper output, got a $2.4 billion boost as Chile allowed the state miner to retain all its 2025 profit. Creditors of petrochemical producer Braskem continue to press Petrobras for capital injection as a bankruptcy deadline looms. President Trump’s social media platform Truth Social saw double-digit visitor declines in June and July, according to web traffic estimates. Meanwhile, sportsbook operators FanDuel and DraftKings are pivoting into prediction markets, hedging their bets as the sector evolves.

Fixed Income

Treasury yields rose as Middle East tensions and inflation fears increased, with bond markets soured by rising oil prices and fading hopes for a U.S.-Iran deal over the Strait of Hormuz. The U.S. high-grade bond market saw its most issuers since January, with 19 firms storming the market Monday. IBM raised C$2.75 billion ($1.97 billion) in its first Canadian corporate bond sale since 2012, adding to a record year of foreign issuance in Canada’s currency. The Securities and Exchange Commission exempted data-center bonds from key securitization rules, potentially unlocking more debt sales for tech firms. Los Angeles performing arts school L.A. School plans a $117 million municipal bond deal, the largest private school borrowing in two years.

Currencies

The yen sank as the effect of a joint U.S.-Japan intervention faded, with the Japanese currency giving up roughly half its gains from the coordinated action. The dollar continued to strengthen against the yen despite officials’ efforts, as Treasury yields and the dollar rose further alongside oil prices. Currency traders cited a lack of “unified voice” among central banks as a headwind for sustained yen strength.

Commodities

Oil surged as hopes for a Hormuz deal vanished, with Brent crude climbing amid a stalemate over the Strait of Hormuz. Oil prices extended gains Monday after failed weekend talks. Saudi Aramco pushed back restarting its Jazan refinery to late August following a weekend attack. Iran’s oil terminals appeared largely idle this month as the U.S. naval blockade continues. U.S. natural gas futures rebounded as near-term weather forecasts turned hotter, with LNG feedgas rising and Middle East conflict feeding supply concerns. U.S. natural gas surged again Monday, earlier rising by the most in over two months as an unusually large weather shift triggered short-covering. Precious metals pushed higher: gold added 0.5% and silver gained 2.8% for the second straight session. A Glencore-backed consortium is looking to rescue cobalt refiner Sherritt, aiming for control of North America’s only cobalt refinery. A new report found that AI will boost oil and gas production more than green energy, stoking debate over technology’s greenhouse gas impact. French trader Sucden warned of a sugar oversupply even as futures rally, citing a lack of data blurring the outlook. A chicken glut is dragging down meatpackers and lowering grocery bills as poultry surplus from larger flocks and breeds pressures prices. Energy veteran Peter Abdo will lead the UK’s Grain LNG terminal from October. Market roundups highlighted oil futures and Adnoc Gas as the UAE pushes for gas self-sufficiency.

Policy & Economy

Federal Reserve Bank of Cleveland President Beth Hammack said “some number” of rate hikes may be needed to bring inflation to 2%, though she does not want to prejudge the path. Senator Bernie Sanders called on AI companies to pause development to “avoid disaster,” warning of potentially cataclysmic results. A Bloomberg opinion piece explored financial repression as an alternative way to reduce government debt. The FDA ordered new food-ingredient disclosure rules but delayed a crackdown on ultraprocessed foods sought by RFK Jr. Meanwhile, a separate article noted that companies will have to notify regulators under new food guidelines, but tougher enforcement requires Congress. President Trump conceded “some contractor error” in the reflecting pool renovations at the National Mall.

Geopolitical & Macro

A magnitude 7.4 earthquake struck Colombia, killing over 100 people. The Colombia earthquake shook major cities, just weeks after similar quakes hit Venezuela. The new president, Abelardo De La Espriella, faces a major disaster response test as images emerge of devastation along the Pacific Coast. In the Middle East, Prime Minister Netanyahu walks a tightrope on Trump’s Gaza disarmament deal, balancing competing demands from his right-wing base and the White House ahead of a tough election. A Ukraine drone attack on an industrial city in Russia killed at least 13 people, striking an industrial center in Tatarstan. The White House released documents shedding new light on how a counterintelligence inquiry into Trump’s Russia ties was derailed in 2017. Weather continues to grip the U.S. with muggy heat and storms, though an end is in sight with a subtle shift expected. In India, police used tear gas to break a youth protest over exam irregularities in Jharkhand. A New York boat tour capsized, killing a mother and infant; investigators focus on the tour operator and pilot. New York City announced a plan to study capturing subway heat to cool stations and heat buildings in winter. Wisconsin voters will decide whether democratic socialist Francesca Hong is too radical in the Democratic primary for governor. Minnesota’s Senate primary pits Angie Craig against Peggy Flanagan in a test of left-wing energy following the Trump immigration crackdown. Ken Paxton, Texas attorney general, makes six-figure income from a cellphone tower at a hospital where he was a board member. Flock Safety’s automated license plate-reading cameras have drawn intense criticism from civil liberties groups. How small, independent newspapers like The Chronicle of Glens Falls are still finding readers in a world of failing papers. Waymo is growing faster than ever, but its driverless cars keep encountering new “edge cases” that have no script. President Trump shrugs off AI and data center concerns as voters grow anxious about the facilities’ impact. Ohio Governor Mike DeWine argues that only Trump can pull off immigration reform, comparing it to Nixon going to China. Trump’s yearlong “takeover” of Washington has changed the capital with costly deployments of National Guard and federal agents. The AI trade is stealing crypto’s thunder as investors drop bitcoin for AI stocks.