Public Markets 24 Hours

Last updated: July 7, 2026, 2:30 PM ET

Global Markets & Economy

The U.S. trade deficit widened significantly in May, reaching its largest level in over a year as record goods imports outpaced a decline in exports. This widening deficit, driven in part by increased imports of pharmaceuticals and data center equipment, signals a potential drag on economic growth. Meanwhile, consumer inflation expectations in the U.S. rose in June, with Americans anticipating higher costs for medical care and rent, according to the New York Fed. In Europe, France is implementing additional budget cuts of €3 billion ($3.4 this year as weaker economic activity threatens its deficit reduction targets. Germany's debt mountain will need to stabilize for the country to retain its AAA credit rating, according to Scope Ratings.

Energy & Commodities

Oil futures climbed higher after Iran launched attacks on ships in the Strait of Hormuz, underscoring the waterway's volatility and threatening global oil flow. A Saudi-flagged tanker sustained damage in the incident, prompting concerns over regional stability and pushing Treasury yields higher. BP Plc boosted jet fuel production by approximately 30% in European refineries during the conflict, helping to avert shortages. Iraq has ramped up oil output from three southern fields full capacity, while Persian Gulf producers are preparing for a market share battle amidst rising output. U.S. natural gas futures remained rangebound, with the market focused on summer weather and power sector demand. Germany's oil stockpiling agency is refilling strategic reserves of diesel, potentially adding pressure to the tight fuel market. Global gas demand is projected to fall for the first time since 2022 due to higher prices stemming from the Iran conflict, according to the IEA.

Technology & AI

The AI boom is fueling a significant debt issuance, with Amazon.com Inc. looking to raise at least $25 billion through a U.S. dollar bond sale to fund its infrastructure spending. SK Hynix Inc.'s $28 billion U.S. listing is reportedly multiple times oversubscribed ahead of pricing, with UBS recommending investors buy the new American depositary receipts over Seoul-listed shares due to expected premium trading. Tech volatility has reached its highest point since the dot-com bust, with anxiety mounting around a new wave of turbulence in the sector. Samsung Electronics' earnings, while record-breaking, failed to meet lofty AI chip demand expectations, leading to renewed pressure on chipmakers globally. Nokia's shares have surged approximately 90% this year as the company pivots to become a significant AI data center infrastructure supplier. Private equity firms are facing a nine-year backlog in exiting software holdings, partly due to investor concerns about artificial intelligence. Apollo Global Management’s Torsten Slok warned that companies outside of major tech giants are not seeing profitability gains from their AI investments. The banking sector is bracing for AI-driven cyberattacks, with top watchdogs issuing stark warnings about potential IT weaknesses exploitable by advanced AI models.

Corporate & M&A Activity

Getty Images Holdings Inc. has officially called off its merger with Shutterstock following a setback from a UK regulator. Lenders to Getty are organizing amid renewed concerns about the company's "unsustainable" debt. Apple supplier Luxshare Precision Industry Co. raised HK$24.3 billion ($3.1 by pricing its Hong Kong listing at the maximum set amount. Angola plans to raise as much as $320 million in its largest IPO by selling shares in telecommunications operator Unitel SA. The Abu Dhabi Royal Family firm is investing $1.13 billion in liquefied natural gas company Mid Ocean Energy LLC. German online car-parts retailer Autodoc Holding SE is raising €530 million ($606 in debt financing to buy back a stake from Apollo Global Management. Australian insurance aggregator Insurance Dekho’s parent company has selected banks for a potential $400 million India IPO. India's K Raheja Corp. Pvt. has delayed its $700 million IPO due to feedback from investment bankers.

Financial Services & Markets

Gold settled lower, with silver snapping a four-session winning streak as traders weighed the Federal Reserve's interest rate path against renewed attacks in the Strait Hormuz. A three-year bull run in gold appears to have ended, with profit-taking dominating the market, though large-scale short positions are not yet evident. BNP Paribas SA has appointed Kavi Gupta as head of FICC trading for the Americas, moving from Jain Global. UK pension surpluses are growing, sparking debate on how to manage excess funds, with corporate defined benefit schemes seeing improved funding levels. HSBC is scaling back its involvement in riskier private credit lending, declining to renew facilities for some clients. A CBIZ Inc. shareholder is urging the accounting firm to re-evaluate its capital allocation and pursue acquisitions over share buybacks.

Automotive & Transportation

Fiat is launching a new two-seat, electric Topolino in the U.S. priced at $14,000, aimed at resort and neighborhood travel. Hertz is receiving support from short sellers, with convertible bonds expected to prevent immediate financial trouble. European aircraft maker Airbus is entering engine manufacturing through a joint venture with Germany's MTU Aero Engines to compete with Chinese and U.S. rivals. Volkswagen needs stronger leadership to navigate profound uncertainty and cultivate improvisational capacity.

Geopolitics & International Relations

The U.S. is changing trade rules in its favor, signaling an end to past practices. President Trump's involvement in the World Cup, including a call to FIFA, underscores his assertion of influence across global affairs. Trump also signaled a reversal of the F-35 ban for Turkey, adopting a friendlier tone than NATO allies. Tensions escalated in Colombia as the president-elect suspended transition meetings with the outgoing government. China's launch of a long-range missile into the Pacific signals its determination to narrow the gap with the U.S. military. The Supreme Court's consideration of AR-15 bans could hinge on their "common use," potentially limiting the government's ability to ban certain firearms. A ruling allowing presidents to fire independent regulators without cause adds volatility for industries preferring stable enforcement.

Regulatory & Legal Matters

High-spending online gamblers in the UK will face financial checks, with individuals depositing over £1,000 daily subject to risk assessments. Disney is accusing a US media regulator of attempting to "sit in the editor’s chair" regarding an FCC investigation into "The View," claiming it could violate the First Amendment. Prince Harry lost his phone-hacking lawsuit against the publisher of the Daily Mail in London's High Court. Marine Le Pen's embezzlement conviction was upheld by an appeals court, though a ban on her eligibility for office was shortened, potentially allowing her to run for president in 2027. Germany has filed its first charges related to a €300 million global payment-fraud scheme.

Other Notable Developments

The U.S. Supreme Court took up challenges to two assault weapons bans, with a decision potentially hinging on their "common use". The administration's criticism of the National Museum of American History echoes President Trump's efforts to reshape the American narrative. Videos generated by artificial intelligence are proliferating on social media, exploiting public support for U.S. troops for other purposes. The number of U.S. adults taking weight-loss drugs has nearly quadrupled in two years. Estonia, after successfully combating fentanyl, is now facing a surge of new powerful drugs.