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Last updated: July 14, 2026, 5:30 PM ET

Middle East Tensions Escalate, Impacting Global Markets

Oil futures after President Trump withdrew a proposed 20% fee on ships transiting the Strait of Hormuz, though prices. Brent crude amid renewed U.S. strikes on Iran following attacks on tankers, fueling volatility and contributing to BP cutting its net debt. The conflict in the Persian Gulf beyond oil and gas, with Iran reverting to tactics like "going dark" to move tankers through the Strait of Hormuz. Fuel markets in the U.S. and Europe are experiencing record tightness as tensions flare, risking further consumer pain at the pump. U.S. Treasury yields and the dollar as U.S. inflation cooled, but the war in Iran.

Economic Indicators and Federal Reserve Watch

U.S. Treasury yields following mild U.S. CPI data, with traders pulling back from bets on Federal Reserve interest-rate hikes. U.S. consumer prices declined in June for the first time since 2020, and a key gauge of underlying inflation was little changed. Federal Reserve Chairman Kevin Warsh reiterated the central bank's pledge to get inflation down but did not specify how, stating policymakers have "no tolerance" for elevated inflation reiterating a vow to tame price growth. Despite the cooling inflation, traders see a nearly 50% chance of a July rate hike following a spike in oil prices and hawkish commentary from Fed officials. U.S. stocks advanced as traders parsed the latest CPI data and Warsh's remarks.

Corporate Earnings and Sector Performance

Wall Street banks, with earnings at JPMorgan, Goldman Sachs, Citigroup, and Bank of America benefiting from an AI frenzy and the SpaceX IPO, though "tectonic" risks loom. Lenders are riding the tech wave, and big banks and Big Tech are, with Wall Street no longer the only industry reaching into every corner of the economy. IBM shares plunged 25% as customers shifted spending to AI, with the chief executive stating the company "faltered" as clients raced to buy servers and storage, delivering a "devastating blow" to software stocks. EV maker Lucid has hired a firm to advise on its turnaround struggling with sales and quality issues. U.S. electric vehicle sales are down, but EV chargers are booming.

Global Trade and Investment Trends

China's monthly car exports for the first time, with overall trade soaring as Beijing also becomes the world's second-largest importer. China will allow its private oilseed crushers to buy Australian canola, as the two countries move to normalize trade. European defense groups are planning an interceptor system to destroy missiles in space drawing on lessons from the war in Ukraine. Buyout firm Francisco Partners is in advanced talks to acquire a controlling stake in construction software maker Command Alkon Inc. for as much as $1.3 billion a sign of investor value. Indonesia's PT Barito Renewables Energy has made an offer to buy geothermal company Energy Development Corp. for more than $5 billion to expand in the Philippines.

Artificial Intelligence and Technological Advancements

Spending on new factories, warehouses, and other industrial sites has been damped by rising costs, but AI data-center construction is booming. Deep Mind chief Demis Hassabis called for a U.S.-led body to test "frontier" AI models, warning society has a "precious window" to prepare for technology advancing at historic speed as warned by a Nobel laureate. Chai Discovery, an AI drug start-up, raised $400 million, valuing the company at $3.8 billion and underscoring investor interest in using artificial intelligence to tackle problems like drug discovery. The commercial fusion race is shifting from laboratories to supply chains, with investment rising in the sector in the hope it can provide abundant carbon-free electricity.

Political and Geopolitical Developments

Senate Democrats blocked a defense bill over the war in Iran, reflecting how the political debate over the conflict in the Middle East has sapped bipartisan support for a normally popular measure highlighting divisions. Senator Lindsey Graham's death leaves the fate of a Russia sanctions bill uncertain, with supporters hoping the measure will gain momentum in his honor. The U.S. military launched its seventh wave of strikes after President Trump said he would "replace" proposed Strait of Hormuz cargo fees with Gulf investment signaling a shift. China urged normal passage through the Strait of Hormuz as soon as possible after President Trump reinstated the U.S. blockade of Iranian ships transiting the vital waterway calling for restoration.

Other Notable Market Movements and Business News

Comex gold, and silver rose nearly 2%, snapping a two-session losing streak. U.S. natural gas futures but struggled to make headway due to adequate domestic supply. The New York City Council speaker backed a ban on horse-drawn carriages in Central Park. Ford Executive Chairman, as China's automakers have rapidly displaced competitors globally. Uber and Delivery Hero are in advanced talks over a potential takeover at an advanced stage. Lead prices, marking the biggest delivery into London Metal Exchange warehouses in records going back to 1970.