Welcome to Markets Desk, here's what's moving.
Quantinuum made its public debut today, opening at sixty-eight dollars per share after its IPO, with former parent Honeywell retaining a majority stake and remaining a strategic partner. It's a closely watched listing in the quantum computing space, and early trading will tell us whether institutional appetite matches the pre-market buzz.
Shifting to soft commodities, both cocoa and coffee are under meaningful pressure. Arabica coffee fell to a nineteen-month nearest-futures low today, with robusta also sliding, as expectations for a record Brazil crop continue to undercut prices. Cocoa dropped more than three percent after Barry Callebaut flagged softer chocolate demand in its updated guidance, adding a demand-side blow to a market already watching supply build.
And on the labor front, Challenger Gray and Christmas reports that AI-attributed layoffs in twenty twenty-six have already surpassed the full-year total for twenty twenty-five, with artificial intelligence cited as the reason behind forty percent of job cuts in May alone. The firm is careful to say this isn't yet the jobpocalypse some predicted, but the trend line is impossible to ignore and will keep pressure on policymakers heading into the back half of the year.
That's the tape. Markets Desk, signing off the floor.
