Public Markets 24 Hours

Last updated: July 23, 2026, 2:30 AM ET

Geopolitical Tensions Fuel Energy and Crop Markets

Global oil prices surged higher amid escalating conflict in the Middle East, with Iran-backed Houthi rebels claiming to have attacked two Saudi Arabian oil tankers in the Red Sea. The attacks have threatened deeper supply disruptions, pushing Brent crude oil prices near $95 a barrel in post-settlement trading. This precarious situation, coupled with heat waves, has also driven crop prices to a three-year high, reviving risks of food inflation as global grain trade is threatened. The closure of the Strait of Hormuz has further exacerbated the crisis, limiting diesel shipments and jeopardizing food supplies for farmers worldwide who rely on fuel for irrigation. US oil refineries are running at breakneck speeds to compensate for dwindling supply, increasing the risk of outages during a period of already sharp price increases driven by war. Russia has been forced to import fuel from India as Ukrainian strikes damage its own refineries, highlighting a crisis for Moscow. European gas prices are also approaching highs seen during the Iran war as traders fret over winter supplies, with heatwaves and competition from Asian buyers leaving the market vulnerable.

AI and Tech Sector Drive Corporate Earnings and Investment

The artificial intelligence boom continues to reshape corporate landscapes, with companies like Nokia from AI and data-center customers, leading to longer-term orders amidst supply constraints. STMicroelectronics has also, raising its revenue target for the second time. Alphabet Inc. has demonstrated the power of AI investment through heavy spending on artificial intelligence, particularly boosting its cloud computing business. This AI focus is also driving market movements, with Asian chip stocks. Conversely, GE Vernova's shares slumped after its outlook failed to impress, indicating that meeting the market's high expectations for AI-related equipment is becoming increasingly challenging. In M&A activity, Dassault Systemes has agreed to to bolster its artificial intelligence offerings. Meanwhile, Chinese funds are pivoting from consumer stocks to chase AI opportunities, a move that could boost returns but also increase sector volatility.

Global Markets See Mixed Fortunes Amid Economic Crosscurrents

Hong Kong and Malaysia are, aiming to attract more international investment by deepening capital access and cross-border participation. In contrast, China is from using a popular offshore loan structure that has helped some developers navigate the property crisis. China's sovereign bonds are rallying due to economic weakness and sliding stocks, signaling expectations for greater monetary policy support. In Europe, Kuehne + Nagel has on strong air logistics performance, with revenue jumping 20% in the quarter. Roche has backed its full-year view as first-half sales rose 6% on a constant exchange rate basis, exceeding analysts’ expectations as sales increased, though its blockbuster eye drug Vabysmo showed a slower-than-expected recovery in second quarter. Nestle is set to in a joint venture with Platinum Equity.

Automotive Sector Faces Shifting Demand and Competitive Pressures

Hyundai Motor recorded a as vehicle sales declined amid cooling global demand, marking a setback for the South Korean automaker. Chinese carmakers, however, have logged a significant surge in European monthly sales in June, solidifying their competitive position against local companies. Tesla's profits have to boost sales, with capital expenditures more than doubling as the company accelerates its pivot to AI and robots. The electric automaker's shares fell in after-hours trading as earnings missed estimates, with $5.8 billion in spending turning cash flow negative despite a revenue surge. Mercedes faces a potential US sales ban under a Senate bill that would bar companies with significant Chinese ownership from the US market.

Financial Sector and Dealmaking Show Diverse Activity

BNP Paribas reported better-than-expected revenue and profit for the second quarter, with its stock traders, leading to profits surging by a third due to a trading boom and bumper gains in its asset management division as revenues climbed. Buyout groups are actively hunting for software bargains after a period of market contraction, with Francisco Partners raising $21 billion amidst a SaaS-pocalypse. Aston Martin Lagonda Global Holdings Plc has secured £550 million ($736 of fresh funds through a deal with HPS Investment Partners to bolster its liquidity. Uber founder Travis Kalanick has, with Andreessen Horowitz and the ride-hailing group participating in the funding round. In a significant deal, Penske Corp. has partnered with Japanese investment firm Mitsui to in a deal valued at nearly $4 billion.

Asia Pacific Markets Navigate Growth and Regulatory Shifts

Indonesian stocks are, rising 20% from their June low, aided by a regional rebound and a recent credit-rating announcement. In India, SBI Funds Management is planning its first technology-focused fund for private firms, aiming to raise $200 million to bulk up in tech. The swap market is pricing in at least a 25-basis-point rate hike in India's October meeting as pricey crude oil stokes inflation risks. India's silver imports have slowed sharply due to a new licensing regime disrupting shipments, pushing local premiums to a multi-month high as shipments slow. In Japan, Deutsche Bank suggests the country may need to shift its focus from managing the yen to controlling government bond yields to achieve its economic growth plans. Japanese stocks, led by chip makers, were higher in early trade, fueled by hopes of growing AI-related demand.

US Markets React to Earnings, Interest Rates, and Regulatory Scrutiny

US equity-index futures declined as investors weighed earnings from AI heavyweights for evidence of growth translating from surging capital spending as markets react to earnings. The US 30-year bond yield has held above 5% for the longest stretch since 2007, raising alarms among investors concerned about a growing debt pile and persistent inflation as yields climb. Southwest Airlines beat estimates on strong demand and premium spending, providing a full-year outlook that exceeded Wall Street's projections. In regulatory news, Nasdaq plans to expedite the delisting of struggling companies after the SEC approved a rule change aimed at curbing market manipulation. The Trump administration has acknowledged that doctors are "gaming" the surprise billing law, leading to substantial payments.

Other Notable Market Developments

Zimbabwe's state-owned lithium miner, Mutapa Energy Resources, has from a group of companies, including Chinese entities. The Australian dollar's bullish momentum against its US counterpart is "clearly building," according to Stone X as momentum builds. Australian employment surged in June, underscoring labor market strength and stoking bets on another interest-rate increase as employment soars. The Los Angeles Unified School District's credit grade was cut by Moody's Ratings due to declining enrollment and rising costs as finances pressure.