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Last updated: July 21, 2026, 2:30 AM ET

Middle East Tensions Drive Oil and Gold Prices

Crude oil futures settled higher amid escalating U.S.-Iran hostilities, with Goldman Sachs suggesting Brent could top $120 a barrel if disruptions in the Strait of Hormuz persist. Shipowners are to crews willing to sail through the Strait of Hormuz due to the increased risks. Meanwhile, gold rose on dip-buying as traders monitored Middle East developments for their impact on inflation, though it slipped slightly on the month. Palm oil, however, fell from a near one-month high as weakness in crude and vegetable oil dented biofuel appeal.

Global Equities and Bonds React to Geopolitical and Economic Shifts

Asian equities broadly rose on hopes for a new U.S.-Iran ceasefire, boosting investor appetite for risk assets, while oil edged lower. Conversely, UK government bonds dropped on new Prime Minister Andy Burnham's first day, unnerving investors over his fiscal approach. Treasury yields rose to start a quiet week for economic data, with the WSJ Dollar Index gaining 0.08%. Japanese insurance firms in three years last month, and JGBs fell tracking overnight declines in U.S. Treasurys. Global stocks propelled Australian pension funds to a.

Corporate Earnings and Dealmaking Highlight Sector Performance

Julius Baer's net profit to a record high, driven by a 26% increase in operating income. Novartis returned to growth with its second-quarter net sales rising 1% at constant currency, buoyed by key drug momentum. In the legal sector, Linklaters partners of £2.5 million each as its Asia business booms. Icahn Enterprises is Pep Boys to Mavis for $700 million. Steel Dynamics reported a profit of $534.1 million, with on improved steel pricing.

AI and Technology Sectors Face Scrutiny Amidst Market Volatility

Hedge funds at a record pace over the past two months, according to Goldman Sachs. China is considering on AI models and chips. Australia's stock market has emerged as an unlikely haven from AI-driven volatility, while the Kospi Index in South Korea has shown extreme volatility. Investors are despite an approval gap, with Dimension Capital raising an $800 million fund. Apple and Tesla as the S&P 500 erased early gains.

Energy and Infrastructure Projects Signal Strategic Investments

Abu Dhabi National Oil Company (Adnoc) plans to in natural gas schemes as the UAE seeks self-sufficiency. BlackRock is leading a for new Meta data centers in Texas. Angola signed with Chinese firms to develop a logistics hub. Turkish Airlines is in Asia and South America to expand its global reach.

Regulatory and Legal Scrutiny Continues Across Industries

U.S. authorities are over asset disclosures. The EU has provisionally found that construction companies and trade bodies likely to raise prices post-pandemic. The London Stock Exchange plans to next year, initially offering access to exchange-traded products. A U.S. judge has pending review of its competitive impact.

Biotech and Pharmaceuticals See Dealmaking Surge Amid Patent Expirations

Biotech deals have surged to records as Big Pharma fears missing out on the next blockbuster drugs due to impending patent expirations. Galderma is racing to, training doctors amidst a rise in botched procedures. Psychedelic drugs are, with commercial success looking less theoretical for treatments based on mushrooms and LSD.

US Trade Policy and Agricultural Sector Under Pressure

The U.S. is on the verge of losing its status as the world’s leading agricultural exporter due to Trump’s tariffs. Washington is also set to on a wide range of goods, potentially reigniting a trade war. Mexican grocery chain Chedraui is, experiencing the worst rout on the Mexican stock exchange this year.

Financial Services and Fintech Navigate Evolving Landscapes

Revolut is preparing to after securing a full banking license. Money-market funds are amidst uncertainty over the Federal Reserve's policy path. Goldman Sachs priced new preferred shares Monday, days after a key metric since the global financial crisis.