Public Markets 24 Hours

Last updated: July 15, 2026, 11:30 AM ET

Markets React to Inflation Data and Geopolitical Tensions

U.S. stocks advanced Wednesday as technology shares led the Nasdaq higher, buoyed by strong earnings reports from BlackRock and Morgan Stanley. Gold prices after U.S. inflation data proved softer than anticipated, easing concerns about the Federal Reserve's interest-rate policy. Asian stocks gained as well on the back of the cooler U.S. inflation print, dialing back expectations for further rate hikes. The WSJ Dollar Index fell 0.35% to 97.15, extending a recent downward trend.

Energy Markets Brace for Disruption as U.S. Reinstates Iran Blockade

Crude futures after the U.S. reinstated its blockade on ships entering and exiting Iranian ports, a move that also saw oil prices tick higher according to the New York Times. The renewed tensions in the Strait of Hormuz, a critical waterway for global energy flows once again. This comes as China's prolonged pause in crude buying, which had previously cushioned the market, might be nearing an end. U.S. natural gas futures as softer LNG feedgas flows, due to terminal maintenance, partially offset demand for summer cooling. Europe's scramble for gas ahead of winter, with Iranian attacks having already impacted Qatar's LNG export capacity.

Corporate Earnings and Dealmaking Drive Sector Performance

BlackRock shares after the asset manager reported a 20% year-over-year profit increase and its assets under management surpassed $15 trillion, reaching a record $15.3 trillion as per the Financial Times. BNY Mellon after posting a second-quarter net income of $1.7 billion, up from $1.39 billion a year prior. Morgan Stanley's wealth management division saw a boost from a growing number of SpaceX millionaires. In a significant development, Stripe and private-equity firm Advent offered to buy PayPal for approximately $53 billion, a move that saw PayPal shares jump 19% in pre-market trading according to the Financial Times.

Tech and AI Sectors Show Mixed Signals Amidst Broader Market Trends

The Nasdaq forged ahead on the back of strong earnings, though IBM's share price tumbled sharply after it previewed disappointing quarterly results, raising concerns for other software and tech consulting companies. ASML raised its forecasts as the artificial intelligence boom fuels demand for chipmaking, with the Dutch company striking a bullish tone on the durability of the AI trend. Chinese AI developer DeepSeek in Shanghai next year to fund costly research and compete with U.S. rivals. Chipmaker CXMT in what would be the largest IPO in China since 2010, capitalizing on the boom in demand for AI memory chips.

Geopolitical and Regulatory Developments Impact Global Markets

The European Union is preparing to fine Google hundreds of millions of euros, a move that will test its ability to police digital markets without reigniting tensions with Washington. The EU also for a potential stand-off with China over rare earths, preparing for possible trade conflicts when a truce expires in October. China's economy grew at its slowest pace in years, with second-quarter economic growth of 4.3% reflecting a broad slump outside its export-oriented manufacturing sector. Meanwhile, U.S. Immigration and Customs Enforcement (ICE) nationwide after recent shootings, a move that has drawn political pressure.

Philanthropy and Legal Scrutiny Continue to Capture Headlines

Kathryn Ruemmler, former general counsel for Goldman Sachs regarding her past interactions with Jeffrey Epstein. Warren Buffett did not donate to the Gates Foundation this year, calling his longtime friend Bill Gates's ties to Epstein "distasteful." The ongoing scrutiny over Epstein's connections also involves former Wall Street executives facing questioning. In other news, Leonard Abramson, the creator of U.S. Healthcare and a philanthropist, died at 93.

Wildfires and Weather Disruptions Affect U.S. and Canada

Wildfire smoke due to a heat dome, leading to miserably high temperatures, while similar conditions caused poor air quality in Toronto. California is also facing combustible conditions with record-breaking heat and a risk of wildfires according to the New York Times. In aviation, Newark's air travel faces disruptions due to controller staffing shortages. Texas is bracing for potentially "catastrophic" amounts of rain and flooding.