Public Markets 8 Hours

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

Equities

U.S. stock futures edged higher early Tuesday as oil erased an advance on optimism over Iran talks, with traders awaiting key inflation data for guidance on Federal Reserve policy. Yet European indexes were boosted by energy stocks on higher oil prices, while volatility tumbled as the Vix “fear gauge” fell to prewar levels, prompting warnings of complacency. Brent crude touched $90 a barrel as a U.S.-Iran stalemate hardened, and Brent stayed elevated amid Trump’s demands for compensation from Tehran.

A buying opportunity may be forming around S&P skeptics’ refusal to give up, with anxiety over geopolitics, inflation and a divided Fed keeping animal spirits at bay. Europe is ticking many boxes for investors as earnings and economic growth turn out surprisingly robust, while European defense stocks are tipped to reignite their rally as the region’s rearmament cycle enters a new stage, according to Barclays and RBC Capital Markets.

In tech, CoreWeave Inc. shares have been on a roll and its earnings after the close Tuesday could determine whether the rally is sustainable. Intel investors are banking on a comeback as AI mania transforms demand and pricing. Healthcare investing is now an AI short in disguise, with big healthcare companies increasingly trading opposite to tech. Meanwhile, Wall Street’s race to pour billions more into A.I. has drawn an eye‑popping amount of lending commitments from BlackRock and others, but enthusiasm isn’t shared by everyone.

On the corporate front, On Holding tempered its sales outlook after second‑quarter running‑shoe sales underwhelmed. Smithfield Foods cut its outlook as sales fell amid macroeconomic pressures, and Chobani lowered its annual earnings forecast on rising material costs. Cardinal Health logged mixed sales but sees growth in the new year. Buc‑ee’s trademark blitz sparked backlash in Beavercreek and on HBO. Domino’s will release a new individual‑size pizza for diners who don’t want to share, aiming to boost sales as more Americans eat alone.

Shareholder proposal filings are on the wane, a trend likely to continue. U.S. small‑business confidence rose in July to its highest level since August 2025, per the NFIB index of 99.8.

In Asia, India’s retail traders lost $9.6 billion in equity derivatives in the year ended March. China’s auto market weakened further in July as higher oil prices and weak domestic demand weighed on sales. Turkish investment funds are urging authorities to crack down on unusual trading that threatens MSCI status.

Fixed Income & Credit

The world’s busiest airport is tapping munis for $1.1 billion, boosting issuance in the lagging airport sector. Intercontinental Exchange has kicked off a bond sale to fund its $6 billion takeover of Market Axess, offering US investment‑grade bonds. Gainwell Technologies has started the next leg of a $5.8 billion debt overhaul, the US software sector’s biggest junk‑bond financing of 2026.

Private‑credit firms are clamping down on loan sweeteners, fearing “shadow defaults” as borrowers delay interest payments on billions. These bonds offer a rare buying opportunity, with TIPS yields above 3% real. America’s mortgage king lost $600 million and needed a rescue from Oaktree after a failed takeover and mistimed rate bets.

Brazil’s CSN got financial relief as a $1 billion debt exchange was approved by holders. Deutsche Bank became the first European clearing bank for renminbi, as China seeks to increase international use of its currency.

Currencies

The yen slid toward 160 per dollar, raising intervention concerns as Japanese authorities may step in again. Uncertainty over the Fed’s rate path could weigh on the dollar, with MUFG citing lack of confidence in how the Fed will respond to the energy‑price shock. Gold was flat ahead of key U.S. inflation data, with the market eyeing a $4,500 target on technical momentum.

Commodities & Energy

U.S. natural gas futures held steady after gains on a hotter near‑term weather outlook. Oil prices rose to $90 a barrel over the U.S.-Iran stalemate, as commercial shipping in the Strait of Hormuz dwindled. A dozen ships continued to switch oil outside Hormuz, keeping barrels flowing despite attacks. Russia’s crude oil exports tumbled to their lowest since May as a brief lull in drone strikes allowed refiners to boost runs. The real oil squeeze is happening in refineries as the Iran war, Ukrainian attacks on Russia and China’s fuel export restrictions have taken millions of barrels of refined products off global markets.

South Africa’s presidency vowed Eskom won’t weaken after transmission restructuring, rebuking the utility’s chairman. Trump’s anti‑wind crusade is boosting US gas as the government redirects wind funds toward fossil fuels. Phillips 66 is back with a $5 billion, 900‑mile pipeline from Texas to carry gasoline, diesel and jet fuel to Phoenix and Los Angeles. Adani Group secured an $800 million loan for data centers as US drops charges.

Mergers & Acquisitions

Hollywood mogul Ari Emanuel is buying Britain’s ATG Entertainment for $6 billion, a big bet on live events. The deal by Ari Emanuel’s new venture Mari values the theatre group at £4.5bn and includes 7 Broadway theaters and 10 in the West End, pending regulatory approval.

Hanwha offered to buy the builder of U.S. Navy ships for about $1 billion. TPG agreed to buy a 61.2% stake in South Korea’s Lotte Rental for $925 million, reviving a sale that regulators had blocked. GM’s “car guy” Mark Reuss spoke about electric vehicles, China and nepotism as he ascended to the presidency his father once held.

Corporate Earnings & News

Chicken surplus is squeezing poultry companies, while new food rules are proposed. Food companies dodged a crackdown in RFK Jr.’s proposal on new additives, as trade groups find the transparency rule limited. In a summer of climate misery, businesses confront the need to adapt as repeated heat, wildfires and storms solidify new investment requirements.

BlocPower, a darling of the clean energy transition, is at risk of collapse. Robots that walk and talk are coming to car factories, but experts warn they may not deliver efficiency gains. China tightens grip on Europe’s car supply chain via acquisitions, worrying EU officials. Goldman staff were named as suspects in a Brazil investigation concerning a shareholder dispute over cancer specialist Oncoclínicas.

Emerging Markets

Emerging assets were pressured as higher oil stoked inflation worries, with most emerging‑market currencies weakening and bond yields rising. The Adani Group secured its $800 million loan as U.S. charges were dropped. TPG’s Lotte Rental deal revives South Korean M&A after regulatory snags.

Economic Data & Policy

Uncertainty over the Fed’s rate path could weigh on the dollar, as MUFG sees risk of a decline. U.S. small‑business confidence rose last month, with the NFIB index hitting 99.8. Americans tapping record home equity to pay credit card debt is mounting, as homes become piggy banks.

Trump’s pick for Interior inspector general is a Project 2025 co-author who would oversee any Reflecting Pool review. States scrutinize voter rolls as the election security debate heats up, while Tesla‑SpaceX merger speculation gives Elon Musk a shortcut to his $1 trillion payday.