Markets 24 Hours

Public Markets

Last updated: July 17, 2026, 2:30 PM ET

Tech Stocks Slide, Apple Reclaims Market Cap Crown Amid AI Rotation

Technology stocks, with a chipmaker rout deepening and driving Taiwan stocks into a technical correction. The semiconductor stock index, unwinding a significant portion of its recent rally as investors. Apple Inc. surged past to reclaim its position as the world's most valuable publicly traded company, a shift reflecting a rotation away from hardware and toward consumer execution and AI potential. HSBC upgraded Apple citing its agentic AI and hardware pipeline, while Coronation Asset Management trimmed its exposure to chipmakers and boosted its allocation to Indian equities. IBM's warning about falling sales between AI winners and losers. Meta Platforms is reportedly in talks to lease computing power to AI startup Anthropic in a potential $10 billion deal, underscoring the scarcity of AI development resources.

Global Markets React to Geopolitical Tensions and Economic Data

European stocks extended declines amid fears of Middle East escalation and the ongoing tech selloff. U.S. equity futures, prompting a sector rotation. U.S. import prices in June, though less than the revised May increase. Gasoline prices are as the summer driving season intensifies, with refining capacity strained. Gold prices and were on track for a weekly decline, influenced by renewed Middle East hostilities and rate-hike bets. The cost of hedging against dollar swings sank to its lowest level this year, indicating traders see little immediate threat to the reserve currency.

UK Politics and Corporate Dealmaking

Andy Burnham is set to become the UK's next prime minister, a development that will bring significant policy shifts and market implications. Bloomberg reporters are scheduled to answer questions on Burnham's impact on UK money and markets. In corporate news, Telecom Italia SpA’s board is a €10.8 billion takeover offer from Poste Italiane SpA, signaling an unwillingness to seek a higher price. BASF SE has for roles in its agrichemical division's IPO, potentially one of the largest offerings on the Frankfurt bourse. Anglo American Plc has selected a group led by Gareth Penny as the for its sale of De Beers.

US Economic Activity and Infrastructure Investment

San Antonio is for nearly $1 billion to fund a major airport expansion, reflecting the city's rapid growth. U.S. corporate insiders at a near-record pace, a potential red flag for investors. The U.S. saw a boom in entrepreneurship, with hundreds of thousands of people, ending a decades-long slump. The Pentagon’s escort policy for journalists while The New York Times challenges the rule in court. Federal courthouses are in need of billions in repairs, with judges seeking congressional power to address the crumbling infrastructure.

Commodity Markets and Supply Chain Disruptions

Wild weather in central Chile, curtailing some operations. Shipping traffic in the Persian Gulf has neared a halt, contributing to rising oil prices as the Iran war continues to disrupt energy supplies. Palm oil is driven by Indian demand and biofuel outlooks, while U.S. natural gas futures amid a milder weather outlook. Conoco Phillips is acquiring a stake in BP's contract to redevelop Iraq's Kirkuk oilfield, as U.S. firms seek to counter China's influence in the region.

Legal and Regulatory Developments

Elon Musk’s X and music publishers have agreed to dismiss dueling lawsuits, though the reasons for the settlement were not disclosed. The SEC of public comments on its plan to scrap quarterly earnings reports. Hedge fund Deccan Value Investors is speaking out about its settlement with the SEC after a "gag rule" was lifted. Apple Inc. has sent legal to dozens of OpenAI employees in a trade secrets dispute.

Private Equity

Last updated: July 17, 2026, 2:30 PM ET

Private Equity Sector Focus and Deals

Private equity firms are actively pursuing deals across various sectors, with a notable concentration in emergency medical services and building maintenance. KKR, Ares, and Tiger Infrastructure Partners are among the firms investing in emergency medical services, with five such deals reported recently. Separately, Charterhouse is set to acquire French building maintenance group Batibig, a B2B emergency building repairs and maintenance business with over €500 million in annual revenue. Charterhouse is also acquiring an emergency building repairs business through another deal.

In the healthcare and life sciences arena, Archi Med announced the closing of its $1.1 billion take-private of Esperion Therapeutics, a biopharmaceutical company focused on cardiometabolic and rare/orphan disease therapies. Avathon-backed Summit has acquired Kids Bowel & Bladder, a provider of continuing and professional education for healthcare professionals.

Automotive services also saw significant activity. Percheron-backed Big Brand Tire & Service is set to acquire automotive service firm Belle Tire.

Fundraising and Investment Strategies

Investment firms are also making strategic moves within their own structures and expanding their investment mandates. Granite Creek has promoted Pete Pacelli to managing director, where he will help lead agribusiness activities as the firm expands its investment focus on the agriculture value chain. Borgman has invested in concrete production equipment distributor CMW, with the capital infusion intended to support CMW’s growth through expanded service offerings and new market entry.

In a significant move within the Japanese market, the EQT-led consortium has raised its tender offer for Japanese internet platform operator Kakaku.com to ¥3,450 ($21. per share, an increase from ¥3,000 EQT tops LY-Bain.

Shareholder dynamics at Ardian are shifting, with Assurances du Crédit Mutuel (ACM) and Wafra expanding their stakes in the global private investment firm by agreeing to purchase shares from AXA, which is selling its 10% holding ACM and Wafra expand.

Credit and Startup Funding Trends

Private credit funds are reportedly in talks to finance Aston Martin through a drop-down transaction. HPS Investment Partners, owned by BlackRock, is among the funds discussing raising fresh debt to bolster the automaker's cash reserves HPS among private.

The startup funding landscape, particularly in the pre-seed stage, is becoming more challenging, with AI startups attracting a substantial amount of seed funding. In Europe, venture capital firms are increasingly taking on operational roles within their portfolio companies. Meanwhile, payment processing company Mollie has outlined a €350 million expansion plan focused on Europe, with its CEO downplaying the "superapp" concept.

Founders Fund has appointed former OpenAI executive Ryan Beiermeister as a partner.

Sector Momentum and Geographic Focus

to the second half of the year, certain sectors are showing increased momentum. In terms of geographic startup activity, Argentina and Spain are highlighted for recent funding tallies and trends. The evolution of AI is also a key theme, with a shift towards "digital teammates" from standalone chatbots. Trive Capital has sold Kittyhawk, a HIP services provider, to Machine Sciences, a portfolio company of Viking Global.

Sector Investment

Last updated: July 17, 2026, 2:30 PM ET

Healthcare Sector Sees Investment Focus

Healthcare investment continues to be a key area for deal-making, with experts highlighting strategies for successful business building within the sector. Discussions around smart deal-making and robust business development are shaping investment approaches. Healthcare deal-making is a focal point.