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Last updated: July 15, 2026, 5:30 AM ET

Inflation Cools, Boosting Market Sentiment

U.S. stock futures climbed Wednesday following a softer-than-expected inflation print, which bolstered risk assets in early European trade. Asian stocks also gained as markets adjusted U.S. rate-hike expectations after the upbeat inflation data. The dollar weakened in the wake of the U.S. inflation data miss, dampening expectations for a Federal Reserve interest rate hike. Treasury yields fell as inflation fears eased on mild U.S. CPI data. The WSJ Dollar Index declined by 0.4%, marking the third drop in four trading days. U.S. Treasuries surged as traders pulled back from bets on Federal Reserve interest-rate hikes after consumer prices data came in lower than forecast. U.S. consumer prices declined in June for the first time in six years, and a key gauge of underlying inflation was little changed, taking pressure off the Federal Reserve. Federal Reserve Chairman Kevin Warsh stated that policymakers have "no tolerance" for high inflation, reiterating a vow to tame price growth.

Geopolitical Tensions Drive Oil Prices Higher

Oil prices rose with Brent crude trading near $86 a barrel after the U.S. reinstated its naval blockade on Iran. The U.S. response to Iranian attacks on tankers with a fresh round of strikes pushed Brent crude to $87. Global oil reserves are lower now than in April, and ships face heightened risks, potentially impacting prices more significantly than previous blockades could have. U.S. natural gas futures recovered early losses to snap a four-session losing streak, though they struggled to make headway given adequate domestic supply. Fuel markets in the U.S. and Europe are flashing record tightness as tensions flare up in the Middle East, threatening more pain for consumers already strained with high prices at the pump as of Wednesday.

Corporate Earnings and Sector Shifts

Richemont, the owner of Cartier, outperformed peers with consecutive quarters of double-digit growth driven by booming jewelry demand. ASML raised its forecasts as the AI boom drives chipmaking demand, with shares climbing 7% as the Dutch company struck a bullish tone on the durability of the AI boom. IBM's share price plunged to its worst day on record, serving as a warning to the IT sector as AI demand begins to crowd out other forms of sector spending. Shares of software and IT services companies plunged after IBM reported preliminary results that missed analyst expectations, reigniting questions over the sector. Wall Street banks have unveiled record quarterly profits, with lenders riding the tech wave, though "tectonic" risks loom according to reports.

Real Estate and Housing Market Developments

Barratt Redrow launched a £400 million buyback after investor pressure and announced a $517 million buyback program, reporting a pretax profit increase for the fiscal year driven by rising house sales and prices according to reports. The housing crisis is also a retirement crisis, as a home has stopped being just a place to live and has also become an asset according to analyses.

Automotive and Transportation Sector News

BYD signals wider European expansion, with a top executive stating the Chinese auto group can take Toyota's crown without the U.S. market as reported. Saudi-owned carmaker Lucid has hired Alix Partners to help "strengthen operations" as EV sales slump according to statements. U.S. electric vehicle sales are down, but EV chargers are booming, with chargers proliferating in Southern states as fast food restaurants, stores, and other businesses try to lure customers according to data. Frontier Airlines, a Wi-Fi holdout, is partnering with SpaceX's Starlink, with the budget airline rolling out more amenities to target customers willing to pay for premium travel as announced.

Chipmaking and AI Demand

Chipmaker CXMT seeks $10 billion in the largest China IPO since 2010, capitalizing on the boom in demand for AI memory chips as it prepares to list. AI developer DeepSeek prepares to list shares in Shanghai next year, needing more funds for costly research in a race with Anthropic and other U.S. companies according to filings. Spending on new factories, warehouses, and other industrial sites has been damped by rising costs, despite the boom in AI data-center construction according to reports.

Other Notable Market and Economic Developments

Thames Water warns over its long-term future, stating it can survive 12 months but cautioning that liquidity may fall short before recapitalization according to the utility. Antofagasta backed its guidance on expectations of higher copper output in the remainder of the year, with second-quarter copper production holding broadly steady, declining 0.7% from the previous quarter. Gold fell after climbing more than 2% in the previous session as investors balanced a softer-than-expected U.S. inflation print and risks stemming from higher energy prices. Comex gold settled 1.60% higher at $4061.10, and silver rose nearly 2%, with both metals snapping a two-session losing streak. The House of Representatives voted for permanent daylight saving time, but the bill faces an uncertain fate in the Senate as of Tuesday. China's economy grew at its slowest pace in years, with economic growth of 4.3% in the second quarter versus the same period last year, reflecting a broad slump outside of the country’s export-oriented manufacturing might according to data.