Markets 24 Hours

Public Markets

Last updated: July 14, 2026, 11:30 PM ET

Energy Markets React to Geopolitical Tensions and Supply Concerns

Oil futures climbed 1.6% in early Asian trade amid Iran’s attacks on shipping in the Strait of Hormuz, with Brent crude rising above $85 a barrel after the U.S. launched a fresh round of strikes. The conflict in the crucial oil-market lifeline far beyond just oil and gas. President Trump’s administration initially proposed a 20% cargo fee to cover protection costs through the Strait of Hormuz, but later withdrew the plan, opting instead for Gulf investment in exchange for safe passage. This flip-flopping, worrying shipping industry experts. In response to the escalating attacks, BP due to higher oil prices and sees further oil-trading gains as the Iran conflict fuels volatility. U.S. natural gas futures, however but struggled to gain traction due to adequate domestic supply.

Corporate Dealmaking and Financial Sector Trends

The financial sector across major Wall Street banks including JPMorgan, Goldman Sachs, and Citigroup, benefiting from a stock trading boom, the AI frenzy, and the SpaceX IPO. These strong results, though “tectonic” risks loom. European companies are also poised for their strongest earnings growth in three years, driven by anticipated strong results from oil majors, banks, and artificial intelligence firms. In the fintech space, Klarna is planning a new buy-now-pay-later securitization to offload credit risk and free up capital for U.S. growth plans new. Meanwhile, buyout firm Francisco Partners is in advanced talks to acquire construction software maker Command Alkon Inc. for as much as $1.3 billion. In a significant move for the electric vehicle sector, Saudi-owned carmaker Lucid has hired turnaround advisers to help “strengthen operations” amid slumping EV sales.

Market Movements and Economic Indicators

Treasury yields rallied as traders scaled back bets on Federal Reserve interest-rate hikes following a cooler-than-expected U.S. Consumer Price Index report. The CPI, with the core gauge remaining little changed, easing pressure on the Fed. This data also as investors parsed the inflation figures. Gold prices were steady amid rising oil prices, with higher yields increasing the opportunity cost of holding non-interest-bearing assets. However, Comex gold, snapping a two-session losing streak. The WSJ Dollar Index fell 0.4%, down for three of the past four trading days. Asian currencies may find some support from a weaker dollar, but high oil prices are expected to restrain a significant rebound.

Data Centers and Infrastructure Spending

The burgeoning demand for data centers is expected to add billions in power costs across 13 states, with a power auction by a grid operator anticipated to impose an additional $6.3 billion in charges on consumers and businesses. This surge in AI data-center construction is booming, though spending on new factories, warehouses, and other industrial sites has been dampened by rising costs. In response, energy companies are positioning themselves to capitalize on this trend, with SLB and Liberty Energy agreeing to partner to provide modular systems and power for data centers.

Corporate News and Sector Developments

Blockbuster stock sales by companies are the current bull market, a trend that reminds some analysts of the later stages of prior rallies. IBM's stock plunged 25% as customers shifted spending towards AI, with the company acknowledging it "faltered." In the basic materials sector, Alcoa received international approval for a gallium production project in Australia, with a final investment decision made by Australia, Japan, and the U.S. for a gallium production plant at the company’s Wagerup alumina refinery. Chinese car exports are surging, with Ford's Executive Chairman acknowledging that the U.S. "can’t expect to keep them out forever". Meanwhile, Watches of Switzerland defied a luxury slowdown with strong U.S. sales, reporting a 13% jump to £1.83 billion.

Regulatory and Legal Scrutiny

Circle has clashed with a Tether-backed fund over market manipulation concerns, with new filings detailing a long-running legal battle. The Trump administration's efforts to subpoena law firms are escalating a pressure campaign, marking an eruption into a pitched legal battle after an uneasy truce. Public health groups are suing the FDA over its flavored e-cigarette policy, with executives unhappy with the agency having lobbied President Trump directly. The European Central Bank is recruiting critics of a digital euro for its pilot program, with 36 institutions selected for the test of the digital currency next year.

International Trade and Geopolitics

A China-backed copper mine in Pakistan is facing a potential shutdown due to worsening security risks in Balochistan, imperiling Islamabad’s resource ambitions. China is widening its Australian canola trade to include private crushers, signaling a move towards normalizing trade relations. Meanwhile, the conflict in Ukraine has shifted to the skies, with Kyiv targeting Russian shipping in an "unprecedented" drone assault. European defense groups are planning an interceptor system to destroy missiles in space, intended to plug gaps in air defense and drawing lessons from the war in Ukraine.

Other Notable Developments

The House of Representatives voted for permanent daylight saving time, though the bill faces an uncertain fate in the Senate. In a significant scientific development, a new winged robot can fly and swim like a puffin, inspired by the physical feats of diving birds. Captain Sullenberger, the "Miracle on the Hudson" pilot, has announced an early-stage Alzheimer’s diagnosis.

Private Equity

Last updated: July 14, 2026, 11:30 PM ET

AI and Life Sciences Attract Major Investment

Investor interest in applying artificial intelligence to drug discovery is surging, with OpenAI researcher Miles Wang reportedly in talks to launch a new startup in the space, potentially valued at $2 billion. Elsewhere, David Beckham’s health drink venture, IM8, secured $1 billion from General Catalyst’s Customer Value Fund, which operates outside traditional equity investments, for its longevity vitamin drink.

Private Equity Firms Drive Consolidation and Sector Expansion

The private markets are experiencing significant consolidation, with major players like Apollo, Clearlake, and KKR actively acquiring other private markets firms. KKR is set to take a majority stake in Thomson Reuters’ global print business for $500 million, retaining a 49% equity stake in the joint venture. In a flurry of sector-specific acquisitions, CAI Capital-backed Green Arrow acquired three transportation technology firms, while Gryphon-backed SMG scooped up health, safety, and environmental services firm CrossSafety. Innovatus-backed Meet The People expanded its reach by acquiring ad agency The Loomis Agency and its digital marketing arm. Great Point-backed Vetn Care continued its veterinary hospital roll-up strategy by acquiring Holistic Veterinary Care, and ACP-backed Marco acquired industrial products supplier Rocket Seals.

Healthcare and Financial Services See Strategic Investments

Kaltroco has invested in the school dental program Smile America Partners to support its growth invests in program. In a significant move within the biopharma sector, Archi Med is taking Esperion Therapeutics private for $1.1 billion, focusing on therapies for cardiometabolic and rare diseases takes private. Warburg Pincus-led investors are acquiring a controlling stake in pharmacy Pantherx Rare from sellers Nautic Partners, General Atlantic, and The Vistria Group. Lightyear Capital is backing tax and accounting firm Prosperity Partners, with Unity Partners maintaining a minority stake backs firm. Inflexion has agreed to acquire German provider of single-use medical consumables Primed Group from Paragon Partners, marking its sixth DACH investment and third healthcare deal in the region. Battery Ventures-backed ORTEC completed an add-on acquisition of TOBA HR Solutions, expanding its healthcare client base.

Secondaries Market Offers Liquidity and Strategic Advantages

The secondaries market is evolving into a sophisticated capital formation tool, particularly for real estate, allowing investors to unlock liquidity, retain high-conviction assets, and reposition platforms for growth. Asante is building its Asia-Pacific secondaries business with a new hire from Evercore, who will lead originating and executing transactions in the region builds business.

Personnel Moves and Emerging Tech Funding

Banyan has promoted Simon Gélinas to managing director and head of investments, where he will oversee the firm’s investment function. Vance Street has appointed Jason Burmer as managing director and head of business development, a role he previously held at Edgewater Capital Partners. Gen Nx360 has tapped Adam Feuer as operating partner, bringing experience from One Rock Capital Partners. The first quarter of 2026 has been a strong period for cybersecurity startup funding, with privacy and cybersecurity ventures securing $4.4 billion in seed to growth-stage financing in Q2 alone pulling in funding. European defense technology startups are also attracting attention, with Project Q landing a €15 million Series A round and Nest AI aiming to reduce Europe's reliance on foreign defense models.

Pension Funds and Growth Funds Adjust Strategies

Chicago FABF is seeking investment consultants for its $1.66 billion in assets under management. Temasek-linked Vertex is scaling back ambitions with a new growth fund, Vertex Growth III, which will be at least 40% smaller than its predecessor.

Sector Investment

Last updated: July 14, 2026, 11:30 PM ET

Real Estate Sees Shifting Strategies Amidst Capital Concerns

La Caisse is doubling down on US real estate, committing $3.3bn to the sector since the start of 2025 as it seeks higher returns by recycling its portfolio. This aggressive stance by the Quebec pension fund contrasts with broader trends in the sector, where are still struggling to return capital to investors. Funds from the 2019-2023 period have distributed 50% or less of their capital, a stark difference from the 2016-2018 vintages which successfully returned capital in full. Meanwhile, PIMCO highlights the evolving landscape for real estate, emphasizing the need for properties to adapt to the demands of the age of AI and host "the tenants of the future."

Infrastructure Fundraising Faces Headwinds Despite Strategic Partnerships

CalSTRS and Nuveen have forged a $2bn strategic partnership, focusing on sustainable opportunities within Nuveen's energy platform, including its Energy & Power Infrastructure Credit Fund II. This significant allocation signals continued investor interest in specific infrastructure niches. However, the broader infrastructure fundraising environment remains challenging. The $40.8bn raised in the first half of 2026 marks a new low, significantly trailing the $71.6bn secured in the first half of 2024. In a move related to the sector's advisory landscape has appointed new global co-heads for infrastructure, coinciding with the pending $575m merger between Lazard and Campbell Lutyens.