Public Markets 24 Hours

Last updated: July 18, 2026, 8:30 AM ET

Middle East Conflict and Oil Market Volatility

Geopolitical tensions in the Middle East are escalating with Iran reporting U.S. strikes on infrastructure and U.S. allies noting retaliatory attacks. Kuwait suffered significant to an oil facility and a power plant amid intense Iranian strikes. Shipping traffic in the Persian Gulf, pushing oil prices to their highest level in a month. Hedge funds on Brent oil at the fastest pace in almost a decade, anticipating further supply disruptions. The US oil rig count without a decrease since 2022, supporting shale expansion amid higher prices. However, questions oil markets can absorb the shock from the Strait of Hormuz.

AI and Semiconductor Market Turmoil

The artificial intelligence sector is experiencing upheaval, with a surprise breakthrough from Chinese startup Moonshot AI sending AI and semiconductor stocks sharply lower. A closely watched index of semiconductor stocks, unwinding a significant portion of its recent rally. Apple briefly leapfrogged Nvidia as the world's most valuable company as its shares escaped the AI sell-off that has hit chipmakers. China's Moonshot AI unveiling a freely available AI model appears to narrow the gap with cutting-edge U.S. offerings, though some experts a repeat of previous AI booms.

Corporate Dealmaking and Listings

The London IPO market is on course for its best year for new listings since 2021, despite perceptions to the contrary. AS Watson, the owner of Superdrug, is considering delaying its planned London IPO. Telecom Italia's board Poste Italiane's €10.8 billion takeover offer. Anglo American Plc has selected a group led by De Beers' former boss Gareth Penny as the preferred bidder for its diamond business. BASF SE has invited banks to pitch for roles on an initial public offering of its agrichemical division, potentially one of the bourse's largest offerings.

Economic Indicators and Policy Shifts

ICICI Bank Ltd. posted better-than-expected as India's second-largest private-sector lender benefited from healthy loan growth. Hungary's $20 billion electric-vehicle industry is facing a reckoning as the new leadership cracks down on environmental regulations. The Bank of Italy raised its outlook for the country's economy, expecting a positive start to the year to outweigh fallout from the Iran war. The WSJ Dollar Index fell 0.11% this week, while Treasury yields edged lower amid solid economic indicators and lingering geopolitical tension. US import prices unexpectedly rose in June.

Technology and Business Trends

The rise of delivery apps is taking a bite out of sales for large pizza chains, as services like Door Dash and Uber Eats level the playing field. Semiconductor stocks as volatile as the broader market. Phones, power banks, and vapes are posing risks to air travel as they spontaneously catch fire on planes. Big tech firms like Oracle are turning to bonds to finance data centers, with Oracle's credit risk gauge hitting a record high amid concerns about cash burn and AI profitability. Meta and Anthropic are in talks for a potential $10 billion data center deal.

Political and Regulatory Landscape

White House officials are grappling with the extent of betting on political events within the government. The Trump administration has sought to scale back sanctions, potentially fueling fears over the dollar's supremacy. The SEC is expected to change quarterly earnings rules despite public backlash. A coalition backed by billionaires is preparing an $87 million ad campaign to block a proposed California wealth tax. The U.S. and Iran are creeping toward a wider war.

Other Notable Developments

Comex Gold 2.23% lower. San Antonio is tapping the bond market for almost $1 billion. Foundever Group has struck a deal with creditors to reduce its debt load. Wild weather in central Chile.