Public Markets 24 Hours

Last updated: July 25, 2026, 11:30 AM ET

Middle East Tensions Escalate, Disrupting Global Energy and Shipping

Oil futures as the conflict in the Middle East widens and Ukraine strikes Russian infrastructure, with Brent crude threatening to hover around that mark through year-end according to Rapidan Energy Group. Saudi Arabia struck Houthis after Iran-backed rebels targeted energy sites, risking further expansion of the regional war. A Hong Kong-flagged supertanker bound for Saudi Arabia’s Red Sea port of Yanbu u-turned just before reaching the Bab el-Mandeb chokepoint, where recent attacks were launched by the Houthis. Despite Houthi blockades, dozens of ships continued to traverse the Red Sea, though scattered disruptions create uncertainty. India flagged an attack on an LPG tanker in Iranian waters, reporting the crew safe for Saudi Arabian cargoes in the Red Sea due to threats from Iranian-backed Houthi rebels. The U.S. and Iran, and the breakdown of the U.S.-Iran ceasefire threatens disruptions. Developing countries like India and South Africa are leading a push to amass emergency fuel stockpiles, planning to build or expand official buffers after facing rationing during the Middle East conflict.

Corporate America Re calibrates AI Spending Amid Economic Headwinds

Companies are beginning to pump the brakes on AI spending, mixing models and changing the economics and power players of the industry. This shift comes as U.S. tech groups have cut 140,000 jobs despite an AI spending boom, with the investment spree reshaping Silicon Valley while the wider U.S. jobs market holds steady. Big Tech’s insatiable appetite for AI investment is unleashing a relentless wave of bond sales, having a bigger impact on the U.S. corporate bond market than might be obvious. Meanwhile, Elon Musk’s Boring Company explores a split with Uber as robotaxi tensions deepen, and the tunneling startup is in talks to raise around $4 billion from investors, eyeing a $20 billion valuation in a new funding round.

Geopolitical Tensions and Trade Disputes Fuel Market Volatility

The ‘Trump Trade’ in the stock market, as amateur and professional traders alike rush to identify stocks that would benefit from his economic policies. Small businesses are suing the Trump administration over its latest tariffs, represented by a legal group that has successfully challenged past duties. A dispute over Trump tariffs is also, with a bipartisan bill becoming mired in a dispute over expanding the president’s tariff power. President Trump threatened new EU tariffs in retaliation for fines on U.S. tech groups, saying Washington will launch a new probe into the bloc that could. Canada faces new tariffs from the U.S., leading to concerns that the country’s ire may not be underestimated. Hedge funds have accumulated the most negative bets on the Canadian dollar in two years as the threat of American tariffs drags on the currency.

Global Economic Landscape: Inflation, Tariffs, and Shifting Market Dynamics

Global markets are grappling with a confluence of challenges, including oil shocks, inflation, rising bond yields, and trade wars, with investors contending with all of them simultaneously. The U.S. economy, while resilient, is threatened by the Iran war and Trump’s tariffs, as renewed fighting with Iran sends oil and gas prices soaring and new global tariffs could push prices further. The European equity market has seen a narrow rally in 2026, a stark contrast to its historical immunity to shocks driven by only a handful of stocks. In Asia, El Niño is worsening the plight of the rice belt after a price shock from the Iran war, with a dry spell dealing another blow to farmers grappling with steep fuel and fertilizer prices.

Corporate Dealmaking and Philanthropic Trends

Blackstone, KKR, and Brookfield have taken a stake in Kuwait pipelines in a $16 billion deal, marking the largest foreign investment in the Gulf state as it seeks to raise capital. Grady-White Boats owner Eddie Smith, after his sole heir died, was inspired by Patagonia to pledge future profits to charity, opting to give away his company instead of selling it. As startups like Anthropic and OpenAI prepare to go public, nonprofits are hoping for a secondary giving windfall from the new tech ultrawealthy. Commodity trading giant Vitol Group paid out $5.9 billion to its executives and senior staff through share buybacks last year, even as its profits more than halved to $4.2 billion. Fitch Ratings has upgraded Jane Street Group to investment-grade status, citing the market maker’s strong income growth throughout the economic cycle.

Market Insights and Sector-Specific Developments

Gold ended week at $4067.60, with silver also rising, and both metals posting gains for the week. Meanwhile, LSEG Lipper is reviewing weekly data showing U.S. investment grade funds saw the biggest outflows in more than six years after a report from JPMorgan Chase & Co. flagged a potential error. In the auto and transport sector, insights are available on CN Rail and vessels in. For energy and utilities, market talk covers oil futures, SLB, and oil rigs. In tech, media, and telecom, discussions include SpaceX, Meta, and Comcast’s Peacock. American Express reported higher sales and profit in the second quarter, driven by increased. Booz Allen Hamilton and cost-cutting efforts boosting business, resulting in higher-than-expected profit.

Other Notable Market and Business Developments

A former top graft prosecutor in Indonesia was arrested on suspicion of money laundering, following police raids that uncovered $26 million worth of gold bars and cash. A private equity firm founder and onetime Republican candidate for governor of New Hampshire pleaded guilty to defrauding investors out of more than $50 million. Japan’s Seven & i Holdings Co. has ended talks over a potential investment in Zabka Group SA, Poland’s largest convenience store operator, though it continues to seek expansion opportunities. In the UK, overpriced homes are taking more than four times longer to sell, as pitching too high can disproportionately lengthen the time it takes to agree a sale.