Public Markets 8 Hours

Last updated: September 21, 2026, 10:03 PM ET

Equities

The Nasdaq composite hit a record as the Magnificent Seven roared back, fueled by a Meta rally that lifted the index 1.2% in the session. Asian stocks were poised to climb on Tuesday after the tech-fueled Wall Street advance, with futures pointing to gains in Tokyo and Hong Kong. AI and chip stocks raced ahead as investors doubled down on semiconductor exposure, while Game Stop shares rose 3% in postmarket trading after CEO Ryan Cohen disclosed a $26.4 million purchase of additional stock.

Energy & Commodities

Brent crude sank amid speculation Donald Trump could meet Iran’s president this week, easing supply fears after a four-day slump. Oil steadied on Tuesday as Middle East supply concerns faded and traders tracked diplomatic efforts. The Trump administration proposed a $5 billion Middle East reconstruction fund for an Iran war, while separately proposing a $10 billion fund for Middle East energy infrastructure projects. Republicans urged Trump to ban US diesel exports as a fuel price crisis triggered by the Iran conflict rattles rural legislators, and the president pressed Zelenskyy to halt Russian refinery strikes over diesel concerns.

Fixed Income & Rates

Government bonds rebounded as the oil price drop eased inflation worries. Federal Reserve Bank of St. Louis President Alberto Musalem signaled more rate hikes are likely needed to cool prices, pushing back on easing expectations. Asset-backed securities sales will climb up to 15% this year as risk premiums narrow, according to Truist forecasts.

M&A & Corporate Finance

Paramount reached a settlement clearing the path for an $110 billion Warner Bros. deal, with the studio keeping operations in California and avoiding asset divestitures. The settlement stops short of forcing CEO David Ellison to make significant concessions, though Democratic AGs blessed the deal for a political price. Private-equity firms Shamrock Capital and Flexpoint Ford bought indie-author publisher Podium for more than $400 million, betting on audiobook growth. Car Max cut 145 corporate jobs in a third round of layoffs amid a soft auto market, reducing white-collar headcount by about 4%.

Capital Markets & Data Centers

A Core Weave-tied data center project kicked off a junk-bond offering led by Goldman Sachs, testing investor appetite for AI infrastructure debt. Wall Street is growing skeptical of the data center boom, with several companies delaying initial public offerings as enthusiasm cools. India’s National Stock Exchange faces a regulatory crackdown threatening its long-delayed $46 billion IPO, the world’s largest derivatives exchange debut.

Crypto & Digital Assets

Bitcoin jumped above $86,000 to an eight-month high, extending a rebound that has lifted the token over 30% since April lows and liquidating $648 million in short positions. Crypto tokens tied to trading and tokenization surged up to 50% on regulatory optimism after US regulators provided clearer guidance.

Geopolitics & Macro

Ecuador asks the US daily for more help fighting a cocaine trade worth an estimated $30 billion. UK homeowners face an £840-a-year mortgage hit from rising borrowing costs triggered by the Middle East conflict. France urged the EU to take immediate action to lower energy prices, with President Emmanuel Macron also calling for a delay in implementing new regulations. KKR expects more dealmaking in South Korea after plowing around $3 billion into the country’s AI supply chain. A Kremlin-backed forgery operation funneled $6.9 billion through global banks, according to a First FT investigation.

Technology & AI

Shopify plans to use Meta’s Muse for agentic checkout, allowing Meta’s personal AI agent to complete purchases on behalf of users. An opinion piece argued the hidden agenda behind the AI panic obscures human error by anthropomorphizing mathematical models.

Media & Legal

US news outlets including CNN, MSNBC, and Politico plan to sue the Trump administration over a White House ban on reporters’ access, vowing to protect First Amendment rights. Networks suspended pool coverage of Trump after the White House barred CNN from TV pool duties, escalating the showdown with the press corps. CNN’s future will include an editorial oversight board under looming ownership by David Ellison, causing anxiety in its newsroom. UK flights were disrupted by another air traffic control problem after National Air Traffic Services fixed a fault at its Prestwick control center. A radar and radio outage roiled flights around New York City and the Northeast after a contractor apparently cut 600 feet of fiber-optic cable.

Politics & Policy

A federal appeals court sided with Missouri Republicans on a redrawn House map, though the order may have little impact because of a Supreme Court ruling. House Democrat Jared Golden crossed party lines to endorse Republican Mike Lawler in a swing-district midterm race. An analysis explored the thinking behind Trump’s puzzling foreign policy, describing it as “civilizationism.” Iraq’s Prime Minister Ali al-Zaidi vowed to disarm Iran-backed militias, a political neophyte hoping to succeed where previous leaders failed. Russia’s parliamentary election was engineered to send a message that Putin remains in control.

Obituaries & Other

Patricio Guzmán, the Chilean documentarian who won renown for his trilogy about the 1973 Pinochet coup, died at 85. Africa digs up tons of illicit gold, and the century-old Rand Refinery aims to make it legitimate.