Public Markets 24 Hours

Last updated: July 8, 2026, 11:30 AM ET

Geopolitics & Markets

Renewed U.S. strikes against Iran and the revocation of its oil sales waiver sent crude prices soaring, with oil futures jumping 6% on escalating Middle East tensions. The conflict's resurgence dampened hopes for peace and pushed Treasury yields to four-week highs, with European bonds also slumping as inflation fears reignited. Indian stocks and the rupee tumbled as oil prices gained, while emerging-market equities extended losses amid a rotation out of AI beneficiaries. US stock futures declined as investors turned risk-averse, and the euro faced renewed weakness as climbing crude prices tested its rebound. Private debt placements from the Middle East are also surging as borrowers turn to alternative markets amid the Iran war volatility.

Technology & AI

Big Tech's embrace of AI continues, with CEOs downplaying job apocalypse narratives and companies leveraging AI evangelists to sway skeptics. In San Francisco, the AI boom is distorting the housing market, with some sellers now requesting stock in OpenAI or Anthropic instead of cash. Chinese AI firm Zhipu is seeking to raise $4 billion in a share sale after its stock surged nearly 1,500% since its January listing. Meanwhile, Nvidia's market value slid by $1 trillion, bringing its valuation to pre-AI boom levels, though it remains the world's most valuable company and is considered cheaper than Hershey by some metrics. The race to build AI data centers is also raising environmental concerns, with tech companies urged to disclose the fallout.

Corporate Finance & M&A

Global merger and acquisition volume surged to over $3 trillion in the first half of 2026, powered by blockbuster AI deals and a rush to complete transactions in the U.S. Big Tech continues to tap the debt markets, with jumbo bond sales of $25 billion becoming a go-to financing tool. JPMorgan Chase & Co. is targeting smaller deal sizes, focusing on succession planning for baby boomers selling their businesses. Blackstone arranged a $1.2 billion credit facility for Air Trunk's data center expansion. In the U.K., Tesco is exploring the sale of its European operations to refocus on its home market.

Automotive & Aerospace

Jeff Bezos's Blue Origin is seeking $10 billion in a funding round that would value the space venture at $130 billion, marking its first external investment. SpaceX analysts and investors appear to have diverging views on its prospects, with some analysts issuing bullish calls despite a tech sector rout. In China, the auto market remains under pressure with retail passenger car sales down 20.2% in the first half due to sluggish domestic demand. Apple plans to purchase $30 billion of U.S.-made chips from Broadcom as part of its domestic investment pledge.

Global Economy & Policy

The IMF projects global economic output growth to fall to 3% in 2026, a slowdown attributed partly to high commodity prices. Romania maintained the EU's highest interest rates at over 10% to combat inflation in an economy nearing recession. Argentina is set to repay $4 billion on its dollar bonds, a feat many investors deemed unlikely. In the U.K., senior defense officials are urging reconsidering fiscal rules to fund the military, including potentially issuing war bonds. The continent's savings should be directed towards its own future investments, rather than abroad.

Real Estate & Construction

Dream Finders Homes has boosted its buyout offer to $875 million for rival Beazer Homes USA, a nearly 24% increase from its previous bid. In the U.K., homebuilder Vistry Group expects a pretax loss of approximately £30 million ($40.1 in the first half of the year as it seeks to raise cash. Blue Owl Capital has acquired a £1.3 billion portfolio of U.K. private hospitals from Malaysia's Employees Provident Fund.

Banking & Financial Services

UniCredit now controls 48% of Commerzbank after its takeover push, nearing majority control of the German lender. JPMorgan Chase is expanding its M&A focus to deals under $500 million. In India, Axis Bank, a top debt arranger, has lost three senior executives amidst broader reshuffles at private lenders. State Bank of India has raised over $1.5 billion through a special program for offshore deposits.

Energy & Commodities

Exxon Mobil reported a $3.7 billion profit surge in the second quarter, driven by higher oil prices amid the Iran conflict. China is granting more permits to refiners for exporting gasoline, diesel, and jet fuel, a significant relaxation of previous restrictions. Coffee prices are expected to remain high due to ongoing market volatility. The U.S. is experiencing record power demand due to extreme heat, with consumption exceeding forecasts and smashing a 20-year-old high.

Other Markets

A Cantor Fitzgerald-backed SPAC and Adam Back's Bitcoin company have scrapped original merger terms and will negotiate a revised deal in a challenging market. Susquehanna International Group has secured $500 million to work with institutions using prediction markets to hedge economic risks associated with World Cup outcomes. Oman India Fertiliser Co. jumped approximately 18% on its Muscat debut after raising $678 million in the region's largest IPO of the year. Japan's payment processor Zentoshin Co. has filed for bankruptcy, impacting regional banks and small businesses.