Public Markets 24 Hours

Last updated: July 10, 2026, 5:30 AM ET

Oil and Energy Markets

Oil futures edged lower as traders parsed conflicting signals on demand and supply, with the International Energy Agency noting that while consumption is recovering, geopolitical tensions in the Middle East continue to cloud the outlook. Refineries in the Gulf and Russia have been impacted by ongoing conflicts, contributing to concerns about potential gasoline and diesel supply shortages globally. Despite price declines, crude is likely to if risk premiums associated with Iran persist. The Strait of Hormuz, a critical chokepoint for global oil shipments, saw traffic halve amid renewed fighting, prompting some shipowners to reduce inquiries for insurance. Investors are also watching an unusual oil market gauge that has prompted Vanguard to. In a significant development, at least $1.6 billion worth of Russian diesel and fuel oil has been funneled through Karimun, Indonesia, becoming an Asian hub for Moscow's oil products since sanctions. Meanwhile, Aliko Dangote, Africa's richest man, has seen his wealth surge by billions due to his large bet on oil refining, benefiting from the Iran conflict scenario.

Global Equities and ETFs

European technology stocks ahead of the New York listing of SK Hynix, while Nasdaq futures also. The South Korean memory chipmaker's record-setting US debut, raising $26.5 billion, is paving the way for a new wave of leveraged ETFs tied to its shares, bringing popular betting strategies to Wall Street products. The demand for levered ETFs, particularly in Korea, has been exploding, according to Barclays analysts. Emerging-market stocks as risk appetite fluctuated, influenced by US-Iran tensions, oil price swings, and developments in the artificial intelligence sector. Nigerian equities, however, have, delivering the highest dollar-based returns this year as sentiment sours on AI stocks. UBS strategists are now the most bullish on European stocks, predicting an 8% upside driven by stronger earnings and a broadening rally across the region.

Corporate Deals and Strategy

Apollo Global Management has agreed to buy a minority stake in Bayer AG's long-acting reversible contraceptives business for $3.4 billion. French billionaire Xavier Niel has become Vodafone's top shareholder, acquiring a £4.4 billion stake from Emirati group e&. Volkswagen is planning to and shrink capacity to cut costs, focusing on more profitable segments and adjusting production to market realities, particularly amid intensifying competition from China. In the AI space, Tencent is leading a deal to unwind Meta's $2 billion Manus acquisition, with the Chinese tech giant set to become the largest shareholder in the AI agent startup after Beijing ordered the reversal of the US takeover transaction. Carlyle Group is selling its data center power unit to EQT for $2.6 billion, a deal that underscores a bright spot for private equity amid strong demand for AI infrastructure assets. Qiagen NV is drawing early takeover interest from firms including EQT and Advent parties.

Economic Indicators and Monetary Policy

South Africa's economy is nearing "escape velocity," with growth on an upswing as the nation addresses long-standing bottlenecks, according to Standard Bank Group Ltd.. Japan's largest public pension fund is likely to to boost domestic investment due to strict asset allocation rules, despite Finance Minister Satsuki Katayama's call for a shift from foreign to domestic assets, which has buoyed the yen, bonds, and stocks in Japan. The euro and could stabilize as markets await more clarity, even as US-Iran tensions boost European Central Bank rate-hike bets. The yuan advanced after China's central bank set its daily reference rate below 6.80 per dollar for the first time since 2023, signaling comfort with the currency's strength. Carry trades are experiencing their most compelling backdrop in over two decades, according to Goldman Sachs Group. US jobless claims remained little changed last week, indicating a continued low level of layoffs nationwide. New Zealand's dollar hit a three-week high as hawkish central bank signals and strong manufacturing data fueled bets for two more interest-rate hikes this year by the bank.

Geopolitics and Market Sentiment

Renewed fighting in the Middle East has overshadowed a burst of enthusiasm for memory stocks, though fears of a major escalation in the region have somewhat eased, providing some support for gold prices which. Treasury yields retreated as President Trump indicated Tehran is seeking a deal, easing concerns about energy supply chain disruptions. The WSJ Dollar Index declined 0.1%, snapping a three-trading-day winning streak of gains. Investors are assessing the fallout from Middle East tensions and the prospects for interest-rate hikes to combat inflation, which has kept gold steady in its trading. Europe faces fresh volatility after the Iran flare-up, with officials noting increased uncertainty following President Trump's declaration that the US ceasefire with Iran is over at this time. Analysts suggest that tanker attacks risk overplaying Iran's hand, noting the country's history of persistence even amid significant losses of its own.

Technology and AI

The deal-making frenzy this year, spurred by the AI economy, has reached $3.2 trillion, the most spent on global deal-making in a six-month period in a decade, though questions persist about its sustainability into the future. Mini Max, a Chinese artificial intelligence company, has disclosed a plan to raise $2 billion through a share placement and convertible-bond offering, causing its shares to drop significantly. Zhipu, a prominent Chinese AI stock, may continue to experience volatile swings as its $4 billion equity fundraising does little to significantly boost its limited pool of publicly tradable shares available. JPMorgan Chase & Co. is building AI agents that have outperformed the traditional 60/40 portfolio in backtests, as investors increasingly turn to artificial intelligence for assistance across various financial functions and strategies. Franklin Templeton sees a durable bull case for infrastructure spending on artificial intelligence through 2027, with the investment theme expected to remain strong. Microsoft's early lead in AI has become a test of faith, with capital spending through the roof as a result. OpenAI's second-in-command is stepping down, creating a significant role to fill as the AI giant prepares for its public offering eventually.