Public Markets 24 Hours

Last updated: July 23, 2026, 11:30 PM ET

Oil Prices Surge, Driving Market Volatility

Oil futures for the first time in two months, a move that and sent U.S.. The escalating Middle East conflict, prompting Asian and European buyers to seek alternative sources for crude. Three supertankers carrying approximately 6 million barrels of crude, navigating potential Iranian threats. The rising oil prices and reignited fears of an inflation shock.

Tech Sector Faces Scrutiny Amid AI Spending Concerns

Major tech earnings underscored the rapid scaling of AI as a business are putting dent. The Magnificent Seven group of megacap technology stocks in market value as AI skeptics. Alphabet and Tesla's recent results, with Alphabet's century bond dropping below 90 pence on the pound. Meta is facing higher borrowing costs for its data center financing, with a BlackRock-led deal meeting investor anxiety over rising AI exposure for $12 billion. However, Intel as AI data centers fuel sales, with revenue jumping 25% in the second quarter.

India's Markets and Economy in Focus

India's markets regulator, SEBI, is. This comes as Manipal Health Enterprises Ltd. seeks raise in an initial public offering, continuing a trend of large share sales in India. Meanwhile, Prime Minister Narendra Modi over examination paper leaks as student protests widened nationwide. Activist Sonam Wangchuk following negotiations with officials.

Dollar Strength and Currency Market Dynamics

The U.S. dollar index remains in a solid uptrend. The dollar jumped as intensifying conflict in the Middle East sparked concerns, fueling expectations that interest rates will stay higher for longer. The yen is on track for its biggest weekly loss in more than two months, with intervention warnings doing little to deter investors betting on further weakness. The Philippine peso dropped to a new record low as oil prices climbed, pressuring the central bank to defend the currency.

Corporate Dealmaking and Strategic Moves

HSBC selling Singapore for $2.1 billion, marking the latest step in the lender's ongoing simplification strategy. Macquarie Group Ltd. announced that Shemara Wikramanayake, its first woman CEO, having led the financial conglomerate to record profits. Advent International of its stake in Brazilian manufacturer Tigre SA.

China's Economic Landscape and Market Sentiment

China's gold imports rose to a two-year high in June, reflecting resilient demand after a slump in international prices. However, daily stock turnover in China dropped to the lowest level in over three months, as investors shun the technology sector. The People's Bank of China via its medium-term lending facility to support growth. China's Xi Jinping, making its most ambitious offer yet to build an alternative global order.

US Economic Indicators and Policy Developments

U.S. initial jobless claims, signaling muted layoffs in a stable labor market. The Trump administration on over 80 nations, tied to countries' imports of goods made with forced labor. The Federal Reserve, with its energy price outlook remaining close to June projections. Big banks, a sector they had shunned just a few years ago.

Global Investment Trends and Fund Flows

Singapore's sovereign wealth fund GIC Pte in more than a decade, though the U.S. remains its top market. GIC plans invest over the next three years, tripling its hedge-fund investments over the past decade. Hedge funds are growing at the fastest rate in history, with the AI boom lifting global assets under management by over $400 billion. Millennials and Gen Z investors, according to Vanguard.

Geopolitical Tensions and Market Impact

The intensifying war in Iran, with shipping group Dynacom attempting to verify the vessel's whereabouts. The conflict also, potentially causing delays for crude shipments as tankers avoid the Strait of Hormuz. President Trump he would take up Manila's concerns with Chinese President Xi Jinping.

Other Notable Market Movements

Gold declined stronger, though its longer-term outlook remains strong. U.S. natural gas futures despite a weekly inventory build at the low end of market estimates. The World Cup's impact on tourism, with some host cities striking gold while others fizzled.