Public Markets 3h Briefing
×Last updated: July 28, 2026, 11:30 PM ET
Commodities and Precious Metals
Gold edged lower wsj.com amid a hawkish monetary policy outlook, though Hong Kong’s gold imports surged to a decade high in June, driven by preparations for a new clearing system and strong mainland demand. Meanwhile, oil prices wsj.com spurred by an Iranian missile attack.
Asian Markets and Economic Indicators
Australian core inflation bloomberg.com last quarter, prompting traders to slash bets on further interest rate increases by the Reserve Bank of Australia. In Japan, JGB futures edged higher wsj.com amid mixed signals, while Asian currencies wsj.com ahead of the FOMC decision. Separately, Indian IT stocks staged a comeback as global AI trade falters, with the Nifty IT Index’s correlation with the Philadelphia Semiconductor Index falling to its lowest level since 2018.
Corporate Earnings and Tech Trends
Miner Rio Tinto wsj.com in first-half profit and raised its interim dividend, citing higher commodity prices, increased production, and productivity gains. The company also expressed optimism about AI demand for metals, forecasting that data center investments will boost the need for commodities. In the tech sector, SK Hynix ft.com driven by the AI boom, securing multiyear contracts with approximately 10 customers. However, a $5bn software refinancing deal backed by Thoma Bravo for cybersecurity firm Proofpoint faced headwinds ft.com due to AI risks, leading to higher borrowing costs and tighter covenants. A single SK Hynix stock trade also resulted in a $60 million loss bloomberg.com in crypto bets for the industry. Global funds that had previously established short positions in Hong Kong tech stocks to fund investments in South Korean chip giants are now seeing those trades unwind, according to equity insights.
US Financial Sector
Morgan Stanley bankers faced pressure wsj.com to approve mortgages for wealthy clients, with mortgage employees reportedly encountering backlash when questioning or rejecting loans. The bank maintains it has not compromised its underwriting standards.