Public Markets 8 Hours

Last updated: August 10, 2026, 8:39 PM ET

Equity Markets

U.S. stocks edged back from records on Monday, with the S&P 500 turning lower after finishing last week at a new all-time high. The retreat came as AI stock heavy ETFs spread risks to the broader market, with a growing share of equity leverage riding on the same AI names that have seen historic swings. Trump Media reported more than 10 sign-ups to its real-time Truth Social feed, primarily high-frequency trading firms. But traffic to the platform fell sharply this summer with double-digit declines in June and July. The company also reported a second-quarter loss of $238.1 million, compared with a loss of $20 million a year earlier, driven by a decline in the value of digital assets.

In the satellite space, AST SpaceMobile raised its revenue outlook to $150 million to $200 million for 2026 as its space-based cellular network expands. Rocket Lab narrowed its loss and reported rising revenue, ending its second quarter with a backlog of $2.36 billion, up 137% year-over-year. Hims & Hers Health boosted its revenue target for the year to $3.1 billion to $3.3 billion, despite swinging to a second-quarter loss. Meanwhile, Boeing agreed to sell three autonomous flight subsidiaries to Archer Aviation, receiving a 16.5% stake in the electric aircraft developer.

Fixed Income & Currencies

Treasury yields rose Monday as escalating Middle East tensions and fading hopes for a Strait of Hormuz deal pushed oil prices higher, stoking inflation fears. The dollar strengthened against the yen, despite Japanese officials' efforts to prop up the currency. The yen sank as the effect of US-Japan intervention faded, giving up roughly half its gains from joint action amid a lack of unified voice among central banks. A Wall Street Journal opinion questioned whether the yen will need another intervention soon, as the effects of a recent government action already are fading.

Traders are piling into Taiwan dollar options to bet on a rebound, signaling a shift in sentiment after the currency suffered its worst July since 2015. The renminbi's hardest mile is only now beginning, as turning the currency into an asset the world wants to hold will be difficult. In the muni market, a performing arts school in Los Angeles is planning to borrow $117 million, marking the largest private school bond deal in two years. Chicago tapped Fitch senior director Ashlee Gabrysch as its next CFO amid a rash of exits.

Commodities & Energy

Gold touched $4,400 an ounce ahead of a key US inflation report that could provide clues to the Fed's appetite for rate hikes. Precious metals pushed higher, with gold adding 0.5% and silver gaining 2.8%. Oil held gains as hopes faded for a deal to reopen the Strait of Hormuz. Meanwhile, oil surged with no Hormuz deal in sight. Oil prices climbed on the stalemate in the Strait of Hormuz, with President Trump making sweeping new demands on Iran. The latest oil market analysis notes oil held a three-day gain after Trump demanded Iran compensate for past conflicts.

In natural gas, US futures rebounded as near-term weather forecasts added heat to the outlook and continuing Middle East conflict fed global supply concerns. Saudi Aramco delayed restarting its Jazan oil refinery to late August following a weekend attack on the facility. Meanwhile, AI will boost oil and gas production more than green energy, a new report found, stoking debate over the tech impact on greenhouse gas emissions.

Companies & Industry

JBS heir Wesley Batista Filho will become CEO of the world’s largest meatpacker, restoring control to the founding family. JBS returns leadership to the Batista clan with a scion named CEO, a pivotal move for a global food powerhouse increasingly focused on the US.

In Chile, the government will allow state-owned copper giant Codelco to reinvest all 2025 profits for the first time, giving the struggling miner a $2.4 billion boost as it looks to revive production and ease a record debt burden. A Glencore-backed group is looking to rescue cobalt refiner Sherritt, becoming the second major investor aiming for control of North America’s only cobalt refinery.

777 Partners filed for bankruptcy weeks after creditors sought to liquidate the alternative investment firm. FanDuel and DraftKings are hedging their bets with a predictions pivot, branching into prediction markets that have charms for sportsbook operators beyond just defense. In the UK, Andy Burnham plans to crack down on vape and betting shops to boost high streets, giving councils extra powers.

Regulatory & Legal

The SEC alleges fund adviser Adit Ventures misled investors in pre-IPO schemes, making false claims and overcharging clients. Gautam Adani won dismissal of US securities fraud charges, ending a blockbuster case that threatened the expansion of the Indian billionaire’s conglomerate. The FDA ordered food-ingredient disclosure and delayed RFK Jr.’s ultraprocessed crackdown; companies must notify regulators before adding new ingredients.

In politics, Trump stoked Islamophobia by calling Democratic candidates "jihadists" and speaking disparagingly of Somalis. He signed an executive order on childhood vaccines calling to scale back the number of vaccinations American children receive. Homeland Security intensified pursuit of noncitizens on voter rolls, increasingly deporting immigrants who inadvertently registered while obtaining driver's licenses. Yabloko, Russia's antiwar party, was banned from parliament elections after its pro-peace manifesto crossed the Kremlin's red line.

Infrastructure & Economy

Morgan Stanley will facilitate a $1.5 trillion infrastructure initiative supporting clients building companies and technologies central to US economic and national security. South Korea’s Hanwha made a $1 billion nonbinding offer for Austal USA as Washington seeks to revive domestic shipbuilding. Wall St. wants another half-trillion dollars for the AI boom; six giant investment firms announced a $500 billion effort to raise money for Nvidia customers to pay for computing power.

OpenAI’s head of ethics left the startup less than a year after joining, one of several high-profile exits amid mounting safety concerns. Bernie Sanders called on AI companies to pause development to "avoid disaster," warning of potentially cataclysmic results. In the crypto world, the AI trade is stealing crypto’s thunder, with investors dropping bitcoin for AI stocks.

Central Banks & Rates

Fed’s Hammack said "some number" of rate hikes may be needed to bring inflation down to 2%, but she does not want to specify. Gold advanced through $4,400 as traders turned focus to US inflation data that could provide clues on Fed appetite for rate hikes. Asian currencies consolidated as Fed rate hike odds faded.

Geopolitics & Disasters

A major quake hit Colombia, killing at least 111 people, with over 1,500 homes damaged. Images emerged from the quake-battered region, the most powerful in a decade. The epicenter line of cities sustained major damage; the Colombian capital appeared largely spared. The earthquake chased teenage Venezuelan brothers from their new home. Colombia’s new president, Abelardo De La Espriella, never held public office until his inauguration Friday and now faces a major disaster response.

In the Middle East, Netanyahu walks a tightrope on Trump’s Gaza disarmament deal, trying to satisfy competing demands of his right-wing base and President Trump. Trump wants to move on from the Middle East but it’s not letting him; he is struggling to impose his will in Iran and Gaza. A counterintelligence inquiry into Trump’s Russia ties was derailed, with new documents shedding light on the demise of an often-overlooked 2017 FBI investigation.

Other News

A deadly New York boat tour capsized, killing a mother and her infant daughter. The captain was charged in the accident; he knew there were no life vests for children when he allowed an infant on board. An Italian diver discovered hundreds of ancient amphorae in Sicily from a Roman shipwreck about 2,000 years old. Jackie the Eagle, who entranced California and beyond during the pandemic, died while being treated for anemia.

Waymo is growing faster than ever, deploying driverless cars to 15 US cities, but its vehicles keep encountering unexpected "edge cases." The Subway is sweltering; Mayor Zohran Mamdani announced a plan to study heat-capture systems. A fight brews between Mamdani and Amazon over delivery workers; the mayor wants companies to hire employees directly rather than relying on contractors. Takeaways from Jason Arday’s memoir reveal the British scholar resigned from Cambridge after the university investigated his academic qualifications.

In Wisconsin, Francesca Hong, a democratic socialist, is the front-runner for governor in the Democratic primary. Trump’s yearlong takeover of Washington has changed the capital with expensive National Guard deployments and federal agents in the streets.

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