Public Markets 8-Hour Briefing
×Housing Market Struggles
Housing stocks plunged Wednesday as Lowe's reported grim outlooks and Trump's lack of housing policy weighed on sentiment. The S&P 500 fell 1.2% marking its first two-week loss since June, with home improvement retailers bearing the brunt of investor concerns.
Energy Markets
Saudi Arabia and Iran are accelerating oil exports, adding barrels to global markets as US military assets deploy to the Middle East. Crude oil inventories rose 16 million barrels, posting their biggest weekly increase in three years as imports rose and refineries cut capacity use.
Tech & AI Disruption
ByteDance valuation surged to $550 billion in a recent stake sale, while AI disruption fears are pressuring both public and private software valuations. Citigroup formed a new group focused on the artificial intelligence infrastructure boom, assembling leaders from investment banking and corporate banking teams.
Corporate Moves & Earnings
Coller Capital agreed to buy $477 million of assets from New Mountain Finance Corp. as the private credit fund sought financial flexibility. TJX Cos posted a jump in profit and sales during Q4 but guided for growth to slow slightly. Sandoz shares jumped 6.4% after bumping up revenue guidance thanks to biosimilar product growth.
International Markets
Thailand's rice exports are set to drop to a five-year low as a surge in the local currency dents competitiveness. Romania is tapping international debt markets for the first time this year after government budget reforms. Colombia is preparing to shift billions in private pension savings to its public retirement system to ease fiscal strain.
Regulatory & Policy
Revolut won FCA backing for stablecoin testing despite ongoing licensing limbo. The Trump administration closed a $26.5 billion loan package for Southern Company power projects in Georgia and Alabama amid rising electricity price concerns. Switzerland agreed to pay Crans-Montana nightclub fire victims $56,000 in one-time compensation.
Financial Sector
Bank of Montreal logged a stronger-than-expected rise in earnings on strong fee growth in markets-facing businesses. National Bank of Canada beat analyst estimates in its fiscal first quarter after purchasing Canadian Western Bank. Desjardins Group aims to expand further in Canada through deals and hires in wealth management and capital markets.
Market Analysis
UBS upgraded IBM after a 22% slide as valuation resets, while Baird downgraded First Solar after Q4 results. JPMorgan and Bank of America strategists are urging clients to buy Venezuelan bonds with large piles of unpaid interest, betting they could outperform ahead of potential debt restructuring.