Public Markets 8 Hours

Last updated: August 13, 2026, 11:39 AM ET

Market Overview

U.S. stock futures edged higher Monday after subdued inflation data reinforced bets the Fed will hold rates, while Asian markets climbed on AI enthusiasm, pushing South Korea’s Kospi into a technical bull market. The rally in Korean stocks was driven by the revival of the global AI trade, though regulators have curbed leveraged ETFs. European indexes were mostly higher, but London’s FTSE 100 lagged as miners fell after Antofagasta cut its production guidance.

Fixed Income & Rates

Bond traders stopped fully pricing in a Fed rate hike this year amid falling oil prices and positive inflation signals, while inflation-protected securities look like a bargain for the near term. The U.S. government is about to sell 30-year bonds at the highest yield in 25 years after a historic selloff. Meanwhile, an opinion piece argues that bond investors actually want the Fed to raise rates.

Commodities

Oil prices fell as investors assessed a weaker demand outlook and stalled Strait of Hormuz talks, with U.S. fuel costs unlikely to fall significantly until Trump strikes an Iran deal. Russian diesel exports hit a fresh multiyear low as drone attacks on refineries curbed supply. Gold gained on reduced rate-hike expectations, while natural gas futures dipped ahead of the EIA's weekly inventory report. The price of niche rare earth erbium surged on fears of Chinese export controls.

Currencies

The yen remained within striking distance of 160 per dollar even after Prime Minister Takaichi’s government signaled support for a BOJ rate hike. Foreign investors fled Brazilian equities at the fastest pace since 2021 as political uncertainty mounted. A separate analysis notes that Japanese drama is no sideshow for U.S. markets, given the yen’s global role.

Equities & Earnings

JD.com beat profit estimates as its food-delivery losses narrowed, and SMIC’s net profit tripled on mature-node orders. Adyen shares jumped more than 9% after earnings rose, while Tapestry’s Coach brand continued to drive sales despite a soft outlook. JLR owner Tata Motors missed profit estimates as its luxury unit weakened, and CK Hutchison’s profit surged on asset sales. Brazilian steelmaker CSN reported a 10th consecutive loss amid debt reduction efforts. Stub Hub’s profits were erased by a World Cup ticket fiasco, while a Polestar dealer lawsuit alleges the automaker orchestrated its U.S. ban. Home Depot’s CFO and a senior VP will step up as the CEO takes medical leave, raising questions about how much disclosure investors deserve. SpaceX passed its first lockup expiry with a $500 billion rally since its June IPO.

M&A & Deals

Mike Ashley’s Frasers Group acquired Harvey Nichols out of insolvency through a pre-pack administration deal, beating rival Next for the storied British department store chain after it fell on hard times. Canary Wharf Group sold the SocGen office at 1-5 Bank Street for £625 million to its own investors Brookfield and the Qatar Investment Authority. Accelerant agreed to go private in a $4.4 billion deal with Thoma Bravo. Bob Iger and Josh Kushner are buying the Los Angeles Lakers in a $12.5 billion transaction brokered by their wives, reflecting the bromance between the former Disney CEO and the venture capitalist. Shein lost a UK copyright lawsuit against Temu, a test of online platforms’ responsibility for third-party merchants. ZUS Coffee is exploring a Malaysia IPO to raise at least $245 million, while Minor International postponed its $1 billion REIT plan due to souring market conditions.

Regulatory & Policy

South Korea ordered new investors to take classes after a single-stock trading frenzy, just months after controversial leveraged ETFs were introduced. Mexico is pressing the U.S. to cut auto tariffs amid broader trade tensions. Taiwan warned citizens against travel to Uganda after passport disputes, highlighting growing pressure on its international presence. Chile’s new institutional investor is poised to plow billions into corporate bonds, promising a boon for local markets. Sri Lanka is reducing reliance on foreign debt by raising more money through longer-term domestic bonds. Homeland Security paid $464 million for 10 used jets that have largely sat idle for months, and ICE plans to equip officers with electric stun gloves for deportations. Defense Secretary Hegseth faces questions about a lawyer’s role in promotion decisions, while North Koreans are using stolen IDs and AI to land U.S. jobs and funnel money to the regime. Kansas has put a bounty on trans people, and a primary fight in Wyoming pits the right against the far right. Putin visited disputed islands seized from Japan in WWII, angering Tokyo, and Europe is once again in the grip of extreme heat. A New York Times feature explores how Covid-era changes transformed Supreme Court arguments with live audio and new voices.

Energy & Infrastructure

The Maersk CEO called for an infrastructure investment push to ease trade strains as port bottlenecks boost freight rates. Trucking is booming again, but drivers aren’t happy about it, as discussed in the Odd Lots podcast. Gulf oil giants are spending billions to build ways around the Strait of Hormuz despite potential cease-fires. AI’s biggest energy impact might be in the oil patch, not data centers, while TUI’s CEO warned that Spain and Italy are hitting tourism capacity limits. The jobless boom has arrived: the stock market thinks the economy is accelerating, but don’t expect jobs to follow. A roundup of energy & utilities news includes insights on RWE and Korea Electric Power.

Technology & Media

Big Tech’s debt sales are driving up credit risk for safe firms without AI links, while America wants to make its own humanoid robots but faces a tough challenge from China. A new crop of creative studios is building A.I. personas that they hope real people will love, and a popular A.I. slop detector distinguishes chatbot text but struggles with images. Paramount has discussed creating a board to ensure CNN’s independence, and a tech, media & telecom roundup covers Cisco, Telstra and Lenovo. The mascot trend is everywhere: Crocs joined the parade with Niles the 6-foot crocodile, and a separate article explores why everybody wants a mascot now.

Corporate & Sector Roundup

Air India ordered one-off drug tests for its 5,000 pilots after a captain allegedly tested positive. Taylor Farms recalled lettuce and jalapeños linked to cyclosporiasis and salmonella outbreaks. Luigi Mangione, facing federal stalking charges, is expected to plead guilty in connection with the killing of an executive in Manhattan. Bob Iger and Josh Kushner’s bromance led them to the Lakers deal, and a look inside Bryan Johnson’s 8 p.m. bedtime and oxygen chambers asks what people would do for a longer life. A celestial wonder emerged from yesterday’s total solar eclipse, and a guide explains how to catch the eclipse of the century in 2027. How China remembers Zhu Rongji, the premier who spoke his mind, contrasts with today’s rigidity. Democrats Socialists are capturing more votes but running up against limits, and a past tweet by a Wisconsin assemblywoman calling for Thanksgiving to be canceled has been resurfaced. Americans love the roar of a V-8 engine and don’t want to give it up, while the golden age of Mexican food has never been richer. A health care roundup includes insights on KPJ and Novo Nordisk, and an auto & transport roundup covers Maersk and Hapag-Lloyd. Old Mutual returned to Zimbabwe’s market after six years, and shares began trading on the dollar-denominated exchange.