Public Markets 24 Hours

Last updated: July 6, 2026, 11:30 PM ET

Technology & AI

Samsung Electronics Co. reported a nearly twentyfold surge in quarterly profit, surpassing expectations with robust demand for AI memory chips fueling its third consecutive record quarter Samsung boasts third straight. These strong results from the world's largest memory chip maker Samsung Expects Another Record may help alleviate recent market concerns about the sustainability of spending on AI computing capacity. Meanwhile, Asian tech stocks slumped as investors capitalized on a stellar year-to-date chip rally, rotating into less popular sectors with more attractive valuations. Intel-backed AI chip maker Syntiant Corp. has filed for an initial public offering, aiming to leverage investor enthusiasm for artificial intelligence technology. Morgan Stanley strategists anticipate U.S. stocks may struggle to reach new highs as investors rotate out of top-performing tech trades and into less frothy sectors. HSBC's Kettner sees a return of favor for hyperscalers, as these companies demonstrate profitability despite massive AI infrastructure spending. TeraWulf is partnering with Anthropic to develop an AI infrastructure campus in Kentucky, a project projected to generate $19 billion in revenue.

M&A and Corporate Deals

Vertex Pharmaceuticals is set to acquire Crinetics Pharmaceuticals for $10 billion, a move expected to expand Vertex's drug pipeline and potentially boost annual revenue by $5 billion. Lockheed Martin will acquire Ultra Maritime for $3.45 billion, integrating its anti-submarine warfare capabilities to enhance maritime platform solutions. Comcast's Sky has agreed to purchase ITV's media and entertainment business for up to $2.14 billion, a deal that would combine two major British media entities. Rogers Communications is acquiring the remaining stake in Maple Leaf Sports and Entertainment for C$4.35 billion. In the defense sector, Ondas Inc. will buy autonomous aircraft maker DZYNE Technologies for $875.8 million, creating a comprehensive autonomous defense technology platform. France's Thales is taking a stake in maritime drone maker Exail for $4.46 billion, including debt. Fincantieri's shares surged on news of agreements to acquire stakes in four companies, bolstering its operations.

Energy & Commodities

Saudi Arabia slashed its main crude oil price for Asian buyers, offering a rare discount amid concerns of a global supply glut and increased traffic through the Strait of Hormuz. Oil futures settled lower while largely ignoring developments that would typically be bearish for prices. OPEC+ members have agreed to another production hike, but demand may not necessitate the additional barrels, potentially leading to a surplus. Jet-fuel prices plunged, yet carriers are not significantly lowering fares, anticipating continued strong traveler demand. US natural gas futures posted moderate gains, supported by summer weather demand against an abundant supply.

Markets & Investment

Hong Kong has commenced trial operations for a new gold clearing system, backed by major banks, as it aims to become a significant bullion trading hub. Citigroup Inc. has joined a select group of banks that manage vaulting and clearing services for the London gold market. Gold futures settled at their highest point in two weeks, with analysts attributing the rise to Middle East peace efforts easing inflation concerns. Traders most positive dollar since 2015, as expectations of prolonged elevated borrowing costs have fueled a monthlong rally in the U.S. currency. Hedge funds have turned since 2007, as the currency hovers near a four-decade low. Japanese borrowers led quarterly issuance in Asia Pacific’s offshore bond market to a record high. Argentina is targeting an investment-grade rating by 2031, while continuing to avoid international debt markets. KKR & Co. reported that investors in one of its retail private credit funds received all their requested cash in the second quarter, suggesting easing investor skittishness in the asset class. CVC Capital Partners has raised approximately €3 billion for a new mid-market buyout fund.

Politics & Geopolitics

The Democratic Senate candidate in Maine, Graham Platner, is facing scrutiny and has seen endorsements rescinded following a sexual assault allegation, though he denies the claims. President Trump is taking credit for Walmart's price reductions on various goods, including beef and produce. Trump's administration faces criticism for uncertainty surrounding the U.S.-Mexico-Canada Agreement (USMCA), which is seen as discouraging investment. Trump's intervention in FIFA regarding a U.S. soccer player's suspension has stirred controversy. The White House has criticized the Smithsonian National Museum of American History for what it deems "extreme political activism" and downplaying the role of the nation's founders. Canada has chosen a German-Norwegian bid for its submarine contract, a decision that pivots away from U.S. suppliers.

Company News & Earnings

LG Electronics projects its second-quarter earnings will more than double, potentially driven by a return of U.S. tariffs and sustained profitability. However, LG Energy Solution Ltd. reported preliminary second-quarter earnings that missed analyst estimates, citing weak electric vehicle demand in key markets. Hanwha Ocean shares plunged over 23% after Canada selected a German bid for its submarine fleet replacement over the South Korean shipbuilder's proposal. Island Pharmaceuticals Ltd. surged as much as 47% after its experimental Ebola drug received emergency-use approval. Hertz Global Holdings Inc. faces increasing short-betting after its shares plummeted nearly 60% in under two weeks. Walmart is lowering prices on thousands of items, drawing praise from President Trump. Rivian Automotive Inc. is offering 75 million shares to meet equity contribution terms related to a U.S. Department of Energy loan. Blackstone Inc.-owned Indurent is engaging investors for a potential London listing or sale.

Economic Trends & Outlook

India's heavy-stock market, previously overlooked, may be poised for a rebound due to under-ownership and attractive valuations. Global investors are showing renewed interest in India as market sentiment improves, particularly as oil pressures ease. Japan's persistent yen weakness and rising long-end JGB yields could potentially trigger global market volatility. Public spending Mexico has driven a rebound in fixed investment, though private investment has lagged. New Zealand's central bank is expected to raise its key interest rate, signaling a gradual unwinding of stimulus to counter emerging inflation. restaurant economy is experiencing a broad-based boom rather than a K-shaped recovery.

Other Markets

Australia's Island Pharmaceuticals Ltd. jumped as much as 47% after its experimental antiviral galidesivir secured emergency-use approval in patients. Solstice Advanced Materials is poised to acquire Element Solutions for over $12 billion, aiming to expand its presence in high-growth electronics and AI infrastructure markets. SpaceX is set to join the Nasdaq-100 index. The WSJ Dollar Index edged higher, halting a two-day losing streak. Euronext NV is reducing planned price increases for trading data following industry pushback.