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Public Markets

Last updated: July 22, 2026, 8:30 PM ET

Energy Markets Roiled by Geopolitical Tensions

Oil futures for a fourth straight session amid continuing strikes and the threat of further escalation between the U.S. and Iran. Brent crude oil after Houthi rebels claimed responsibility for targeting two Saudi tankers in the Red Sea, exacerbating supply disruption fears. U.S. refiners are to near-record levels, responding to a global supply crunch triggered by conflicts in Russia and Iran. The closing of key chokepoints like the Strait of Hormuz and Bab al-Mandeb collectively of the world's oil supply.

Tech Giants Navigate AI Investment and Earnings

Alphabet quadrupled its profit to $112 billion, fueled by significant investments in artificial intelligence and growth across its cloud computing and other businesses. Despite a revenue surge, Tesla’s capital expenditures, which more than doubled amid its pivot to semiconductors and autonomous taxis and caused shares to fall in after-hours trading. Wall Street banks have begun trading parts of a $35 billion financing package for Broadcom Inc. and Anthropic PBC’s AI infrastructure expansion, with private credit playing a significant role in the initial pieces of the deal.

Corporate Dealmaking and Financial Sector Activity

Nasdaq Inc. will change to expedite the delisting of struggling companies, a move that comes as regulators focus on market volatility and alleged manipulation in smaller stocks. Union Pacific reached a deal with Canadian National Railway to grant the latter expanded access in the Midwest, in exchange for ending its opposition to Union Pacific’s proposed $71.5 billion merger. Mexico City-based restaurant chain La Casa de Toño is exploring a sale that could exceed $400 million, aiming to fund expansion. Daiwa Asset Management Co. plans to targeting institutional investors.

Bond Markets Brace for Yield Surges and Fed Speculation

A selloff in government bonds has pushed the 10-year Treasury yield close to its 2026 high, while the 2-year Treasury yield rose to its highest level in over a year. Traders remain divided on the Federal Reserve’s next move, with speculation about a potential interest rate hike or hold dominating market sentiment. Gold held its gains as dip-buying countered inflation fears stemming from ongoing Middle East hostilities, even as oil prices.

Transportation and Infrastructure Sector Developments

CSX reported higher second-quarter profit and sales, with revenue rising 10% driven by increased fuel surcharge revenue and higher volumes across merchandise, intermodal, and coal. Southwest Airlines beat estimates on strong demand and premium spending, providing a full-year outlook that exceeded projections, despite facing higher fuel expenses that weighed on its second-quarter profit. A Dubai-based logistics giant has unveiled a deal to develop shipping terminals on the UAE's east coast, aiming to.

Regulatory and Policy Shifts Impacting Markets

Democrats and Republicans are reportedly haggling over the Clarity Act, a significant bill supported by the cryptocurrency industry, as it moves closer to a Senate vote, with debate centering on whether to bar the President from selling crypto. House Republicans tied to the SAVE Act and a voter ID measure, a move that drew bipartisan backing amidst public outcry against the practice, though Democrats opposed it after the inclusion of a voter ID requirement. The U.S. government has acknowledged that the surprise billing law is being "gamed" by doctors, leading to potentially huge payments.

Tesla and Semiconductor Companies Report Mixed Results

Tesla's profit, with price cuts and higher expenses impacting results. The company's stock as traders seek credibility for its artificial-intelligence ambitions. Texas Instruments posted higher second-quarter profit and revenue, with its quarterly profit reaching $1.98 billion, up from $1.30 billion a year earlier. Dassault Aviation booked sharply lower orders in the first half of the year, logging no bookings for its Rafale fighter jet, though its Falcon business aircraft segment remained stable.

Private Equity

Last updated: July 22, 2026, 8:30 PM ET

Private Equity Infrastructure and Credit

Partners Group closed its fourth direct infrastructure program above $15bn, marking its largest infrastructure raise to date and exceeding its predecessor vintage by over 50%. The fund is already more than 40% committed. In parallel, Apollo Global Management is targeting up to $20bn of private credit deployment in Mexico, focusing on the nation's nearshoring-driven infrastructure build-out.

Deal Activity in Industrials and Tech

TJC is set to acquire electrical power firm Sunbelt Solomon from Trilantic North America. Sunbelt Solomon operates 42 locations across the US, Canada, and Chile, with a workforce exceeding 1,600 employees. Meanwhile, Monomoy Capital is reportedly in advanced discussions to sell concrete manufacturer Cast-Crete, which could fetch a valuation of up to $850m based on recent multiples in the building products sector. The tech sector continues to see significant job cuts, with over 127,000 workers at U.S. tech companies laid off in 2025 and into 2026, according to Crunchbase News.

Sector Investment

Last updated: July 22, 2026, 8:30 PM ET

Sovereign Wealth Funds Eye AI and Infrastructure

Singapore's plans boost its investments in artificial intelligence, aiming for significant exposure to the sector. The S$518 billion sovereign wealth fund also intends to increase its allocation to core-plus infrastructure from 1% to 5% by 2031.

Renewable Energy Tax Credits Face Uncertain Future

The expiration renewable in the U.S. this year has been met with mixed reactions, potentially leading to shifts in sector investment strategies as market participants adapt to the new landscape.