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Last updated: July 20, 2026, 8:30 AM ET

Middle East Tensions and Oil Prices Drive Market Movements

Escalating hostilities in the Middle East, with Brent crude touching $90 a barrel and U.S. gasoline prices climbing back above $4 a gallon. This surge in oil of a Federal Reserve rate hike, contributing to a rise in U.S. Treasury yields. European airline stocks fell sharply as the higher oil prices threatened to impact fuel costs. Gold prices slipped as the rising crude prices bolstered inflation concerns. Soybeans and corn futures amid the escalating conflict and its impact on biofuels. Asian currencies due to the heightened Middle East tensions, which typically undermine risk appetite.

Corporate Dealmaking and IPO Activity

Brookfield Asset Management and Canada Pension Plan Investment Board agreed to buy LXP Industrial Trust in an all-cash deal valued at approximately $5.2 billion, adding a portfolio of modern warehouses. In the retail sector, Jersey Mike’s Subs unveiled terms for its initial public offering, which could value the sandwich chain at nearly $8 billion and aims to raise up to $1.09 billion. BP has agreed to sell its Austrian petrol station and EV charging businesses to Volenergy for an undisclosed sum as part of its. KKR-backed Serentica Renewables is seeking about $450 million through an offshore loan to fund its clean energy initiatives in India. Alkegen has finalized a restructuring deal with lenders that will inject new capital and reduce its debt by approximately $3.1 billion. In the data center sector, Koch-owned Molex has entered into a 10-year deal with Prysmian valued at $6.29 billion to bolster fiber capacity in the U.S. . Samsung Biologics is acquiring Swiss peptide maker Poly Peptide for $1.8 billion as part of its international expansion. Buyout firm Truelink is nearing a $1 billion deal for coffee syrup.

AI and Technology Sector Focus

The artificial intelligence boom continues to shape investment strategies, with Alphabet and Tesla set to report earnings. Citigroup strategists have suggested that the "Magnificent Seven" moniker is no longer relevant for assessing AI stock plays. Everyday investors are shifting away from the established tech giants and focusing on newer. Concerns persist regarding the sustainability of the AI rally, with Chinese traders unwinding leveraged bets at the fastest pace. Morgan Stanley has been a key player in financing the build-out of data centers, structuring debt deals related to the AI boom. Chinese state-owned funds have purchased nearly $9 billion in shares to support the market amid a deepening selloff in chip and tech stocks globally. Renewed Volatility and Emerging Market Dynamics

South Korea's Kospi Index has experienced significant volatility, with its benchmark exceeding 60%, nearly double that of Japan's Nikkei 225. Emerging equities as rising oil prices and pressure on chip stocks weighed on sentiment. Hedge funds have amassed their largest net short positions on the New Zealand dollar since 2006, anticipating that higher oil prices could exacerbate. India's central bank has intervened in foreign exchange markets to support the rupee as it approached a record low, influenced by the surge in crude prices.

Other Notable Market and Business Developments

Domino’s Pizza reported higher profits, though same-store sales growth slowed. Progressive, the insurer, faces a strategic decision regarding its excess capital as growth moderates. Singapore is considering tax cuts and easier talent entry for hedge funds to compete with Hong Kong. The EU has fined Ali Express €550 million for failing to prevent the sale of illegal goods under the Digital Services Act. Lockheed Martin plans to build a cheaper Patriot missile to counter drone threats and. Ryanair's profits fell 34% due to the impact of the Middle East war on ticket and. Hong Kong's stock-listing market is approaching a six-year high for proceeds, driven by a summer of significant deals. EQ Resources Ltd. shares surged after mining billionaire Andrew Forrest acquired a 16.8% stake. China’s Zhongji Innolight Co. is gauging investor interest for an $8 billion listing.