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Last updated: July 16, 2026, 8:30 AM ET

Middle East Tensions Drive Oil and Bond Markets

U.S. stock futures fell 0.2% as intensified strikes against Iran, including hitting an oil tanker near its main export terminal, heightened geopolitical tensions. Middle East bond spreads as fighting flared between the U.S. and Iran. Oil prices steadied after a three-day rally, though tensions remained high. The U.S. military blockaded Iranian following the collapse of a cease-fire. Total Energies expects a milder second-quarter production hit from the Middle East war than previously anticipated in some regional countries. Gold declined, erasing previous gains, as escalating Middle East tensions fueled concerns about energy prices and inflation. Oil traders as the Strait of Hormuz shuts again, with stockpiles acting as shock absorbers running low. French power exports jumped 36% to a record in the first half of 2026, driven by a rebound in nuclear output and rising renewable generation.

Corporate Earnings and Guidance Boost Markets

Abbott Laboratories following a stronger-than-expected second quarter, with improved performance across most business lines. U.S. Bancorp reported record second-quarter revenue, attributing the rise to strong loan growth, fee momentum, and a boost from its recent acquisition of BTIG. GE Aerospace on higher sales and profit, now expecting adjusted earnings per share between $7.65 and $7.85. UnitedHealth Group's results, and the healthcare company substantially raised its full-year earnings projection. Publicis raised its guidance, citing new business wins driven by client demand for AI-powered marketing services. Telenor, however following a challenging quarter impacted by tough comparables and transformation costs.

AI Boom Fuels Tech and Infrastructure Investment

TSMC says AI, defying skeptics, as the chipmaker sharply increases capital spending and sales projections. The Taiwanese chip-making giant, bringing its total commitment to Arizona operations to $265 billion. ASML raises forecasts, with shares climbing as the Dutch company strikes a bullish tone on the durability of the AI boom. Europe's AI infrastructure shares have further to run as hyperscalers are expected to increase spending again next year, according to Goldman Sachs. Spain's Naturgy will, its largest in the country, combining solar power. ABB is buying U.K.'s Rotork for $5.6 billion adding to demand for data center products. U.S. warehouse construction rose 18% in the second quarter, driven by demand from data-center equipment suppliers. Australia will, also seeking to protect creator rights for AI training data.

Deals, M&A, and Market Volatility

ABB is set to buy U.K.'s Rotork for £4.1 billion in a significant deal. Uber agrees to a €13 billion deal to acquire Delivery Hero. DCC received a sweetened takeover bid from KKR & Co. and Energy Capital Partners, exceeding £5.7 billion ($7.6 in a drawn-out process. EQT AB is increasing its tender offer price for Japan’s Kakaku.com Inc. escalating bidding. U.K. business struggles to contact Burnham, with reports indicating Shabana Mahmood could lead the Treasury. South Korea will temporarily halt new listings of single-stock leveraged exchange-traded products after a surge in popularity of funds tied to Samsung Electronics and SK Hynix. Emerging-market stocks as South Korean authorities moved to rein in leveraged funds tracking chip giants.

Other Market Developments

U.S. stock futures as chip stocks come under pressure, with memory chip stocks continuing to yo-yo in Asia. Silver found lowest, trading at its lowest level since Dec. 4, 2025. Retail traders have moved from the margins to the center of the stock market. The U.S. operator of America’s biggest electricity network is entering an emergency process to plug a projected supply shortfall. An explosion on power lines in South Africa risks cutting supply to parts of Johannesburg and key mining towns. U.K. Nationalizes British Steel, its last major steel mill, after no private sector buyers came forward. French advertising group Publicis reported benefiting from new business momentum driven by continued client demand for AI-powered marketing services raising guidance.