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Last updated: July 27, 2026, 11:30 PM ET

Geopolitical Calm Cools Oil, Rattles Asian Markets

Oil prices after the U.S. and Iran paused strikes over the Strait of Hormuz, easing supply concerns that had pushed crude above $100 a barrel. The ongoing pause in hostilities between the U.S. and Iran, as traders eyed the Federal Reserve's upcoming decision. Asian currencies, potentially weighed down by geopolitical risks, while Japanese and South Korean stocks tumbled amid an intensifying chip selloff and fears of worsening fiscal situations in Japan. European chip stocks, however, rose as the pause in Middle East fighting boosted global sentiment.

AI Boom Fuels Dealmaking Amid Market Volatility

OpenAI is reportedly close to securing a $500 billion data center, with Nvidia providing a $250 billion financial backstop for the ambitious artificial intelligence project. In a separate development, BlackRock in debt for a Meta Platforms Inc. data center in Texas. This comes as investors grapple with rising credit risks in Big Tech due to soaring AI spending as noted by FT. Meanwhile, chip stocks experienced a deepening selloff, with investor sentiment souring over the sustainability of the AI boom and concerns about funding circularity and competition from China according to Bloomberg. SK Hynix Inc. saw a $470 billion rout in its stock, highlighting cracks in the memory-chip market as per Bloomberg.

IPO Market Sees Mixed Fortunes and Major Listings

Zhongji Innolight Co. priced Hong below the maximum, raising HK$53.4 billion ($6.8 in one of the city's largest IPOs in seven years. In India, IPO hopefuls are racing to beat an August deadline for audited results, with three offerings closing and four more firms announcing schedules. Chinese chipmaker CXMT saw its shares surge 466% in its market debut, a move that could signal continued benefits for the AI sector if cheaper computing power drives demand according to FT. However, some mega-listings have turned sour, with SK Hynix Inc.'s American depositary receipts slumping below their U.S. IPO price.

Corporate Dealmaking and Restructuring Activity

Curium is reportedly in advanced talks to acquire radiopharma company Lantheus Holdings Inc. in a deal potentially valued at around $7 billion. Ares Management has held discussions to buy Leonard Green & Partners, a move that would significantly expand Ares' private equity business. In the energy sector, KKR, Blackstone, and Brookfield have lease agreement with Kuwait's oil sector. Meanwhile, Luxfer, a materials manufacturer, is set to in a $463 million all-cash deal with Wynnchurch.

Economic Headwinds and Corporate Adjustments

Buzz Feed's new owner, Byron Allen, is, about a third of its staff, to reduce financial losses. Porsche is planning to following a sales collapse in China, signaling further challenges for Germany's automotive industry. In the U.S., Union Pacific and Norfolk Southern have to the STB regarding their merger, aiming to ensure improved service. Separately, NYC has due to structural concerns.

Gold Holds Gains Amid Fed Uncertainty and Geopolitical Cues

Gold held modest after President Trump suggested that the U.S. and Iran were engaged in talks to end the conflict, which had stoked inflationary concerns and raised the prospect of higher interest rates. However, gold amid elevated global yields and volatile oil prices. CME Group Inc. noted stronger-than-expected demand for its debut of 24/7 trading for one-ounce gold futures.

Other Market Developments

U.S. state and local government debt, or muni bonds since the spring following a week of poor returns driven by inflation fears. JPMorgan Chase & Co. analysts indicated that an in-house indicator is flashing a buy-signal for the S&P 500 Index. Carlyle Group Inc.'s asset-backed finance chief stated that traditional fixed income is losing reliability as a portfolio shock absorber due to increasing correlations.