Public Markets 8 Hours

Last updated: August 12, 2026, 8:42 AM ET

Equities

U.S. futures edged higher Wednesday ahead of the July CPI report, with tech earnings from Super Micro and Core Weave rekindling the AI trade. European indexes were mostly lower as Middle East tensions weighed on sentiment. The FTSE 100 slipped and the pound held steady.

Emerging-market stocks rose, led by Asian chipmakers on upbeat AI infrastructure results. In India, Tata Group erased $4.5 billion in market value after Chairman Natarajan Chandrasekaran said he will step down when his term ends in February 2027, deepening a leadership crisis at the conglomerate. Tata Sons chairman N Chandrasekaran resigned ahead of the AGM, escalating a succession row. Separately, Godrej Consumer shares plunged after CEO Sudhir Sitapati resigned with immediate effect.

Brinker International posted higher profit and revenue in its fiscal fourth quarter, fueled by Chili’s momentum. Performance Food logged higher sales and profit as costs and prices increased. Foxconn reported a 35% profit beat on strong AI hardware sales. Tencent saw AI spending snuff out its profit-growth run. ABN Amro boosted guidance as profit jumped 13% on higher fees and lending income. Hannover Re posted lower net profit on a currency hit but reaffirmed full-year guidance.

Vestas shares soared 18.5% after the wind-turbine maker raised profit guidance and announced a share buyback. Shoprite jumped the most in 11 months as Africa’s largest supermarket chain forecast earnings rising up to 14.7% on e-commerce growth. AGL Energy shares jumped the most in six months on strong battery performance.

Optical stocks re-emerged as a momentum play, surging on rising confidence in AI spending. Power plant stocks lost steam as the data center backlash complicated the outlook. DMG Mori is seeking $300 million in a Japan share sale. Elliott Management nominated six candidates for the board of Northern Star Resources, stepping up its campaign. India options trading dropped 27% in the first week of a new closing auction mechanism.

Lovable hit a $13 billion valuation, catapulting the vibe-coding startup into Europe’s most valuable. Carnival’s CFO discussed restoring the balance sheet after the pandemic. Xero’s CEO shared leadership lessons from a tennis legend. Harrods is battling the Al Fayed estate over hundreds of sex abuse claims.

Fixed Income

Eurozone government bond yields rose ahead of U.S. CPI data. The bond market inflated the Powerball jackpot to $1 billion. Pimco’s Seidner said angst over Fed credibility is unwarranted and current bond yields look attractive. Wealth management faces a $3 trillion problem as investors keep too much cash in money-market funds.

Currencies & Commodities

The rand carry trade lured foreign investors to South African bonds at the fastest pace since January. Yen intervention by Japan and the U.S. has limited impact, while yen intervention put China’s yuan under more pressure to appreciate. The dollar traded steady ahead of CPI and the Middle East conflict could trigger more volatility.

Oil prices extended gains on skepticism about a Hormuz deal. The IEA said the Hormuz standoff derails oil supply recovery and deepens a demand slump. UAE is shuttling Iraqi oil exports through the Strait of Hormuz. Gold rose ahead of U.S. CPI figures. China’s commodity markets defy the economic rulebook, complicating Beijing’s inflation struggle. Colombian earthquake disrupted a key coffee export road and paused port operations. Lloyds Metals was authorized to restart a giant PNG copper mine closed for 40 years. China’s soybean pledge is tested as private crushers hold back.

Energy & Power

Norway’s oil fund posted its best quarter since 2020, with a profit of nearly $185 billion. Its CEO said he’s more nervous after record returns. The fund’s record profit was buoyed by an Asia tech stock rally. Energy prices are expected to fall in the latest inflation data, but the war with Iran injected volatility. Form Energy raised $750 million for rust-powered batteries, bringing total fundraising past $2 billion. Most electricity sought for AI data centers in the U.S. will never materialize due to “phantom” projects. UK power supplies are likely to be stretched during a solar eclipse, requiring extra generation capacity. Burnham will hold an emergency Cobra meeting in response to heatwaves.

Corporate & Deals

Bank of America committed $250 billion to U.S. projects, boosting the “America First” agenda. The bank will deploy $250 billion to bolster AI and energy infrastructure. GM set a $4.5 billion supply-chain safety net. MEMX filed to list prediction market-style bets on earnings. New York City launched a sweeping investigation into Polymarket and Kalshi’s marketing practices. A judge dismissed Adani fraud charges. HSBC’s global insurance head stepped down as the bank continues its overhaul. BDCs are paying more to borrow, raising questions.

Economic Data & Policy

Benign inflation data would reduce urgency around a September rate rise. India’s inflation held within the RBI’s target band, backing a pause. Homeowners tight on cash are tapping home equity. The labor market slowed as employers grew wary of hiring. Korea will require mock trading for single-stock leveraged ETFs. Kevin Warsh’s monetary hall of mirrors is under fire. Zhu Rongji, the former premier who pushed China to a market economy, died at.

Political Risk

Trump tariffs force some Canadian companies to move south of the border. Francesca Hong’s defeat in Wisconsin showed the limits of the progressive movement. David Crowley’s victory beat back a progressive groundswell. Peggy Flanagan, a progressive, won the Democratic Senate primary in Minnesota. Eight takeaways from Tuesday’s primaries highlight the national battle between progressive and moderate wings. Trump’s exit from Turkey after the NATO summit is examined. Deportees sent to a prison in Africa were interviewed by a reporter. One deportee to Eswatini may never go free. Heat kills hundreds of workers each year, but few states protect them. Alzheimer’s blood tests are causing confusion and distress. Dick Cheney’s cardiologist has questions about Trump’s health. Jimmy Fallon recreated Trump’s catering container escape. Telescope spots two black holes on the cusp of merging. Bali’s fireflies are disappearing. Face-lift and feminism: a personal choice debate.