Public Markets 24 Hours

Last updated: July 29, 2026, 8:30 AM ET

Middle East Tensions Drive Oil Prices Higher

Oil futures as renewed fighting in the Middle East and Houthi militants escalated attacks on shipping in the Red Sea. Saudi Aramco loaded at Egypt's Sidi Kerir port for Asia due to elevated risks, while Ukraine claimed it in Russia. Global oil prices climbed again as tensions between the U.S. and Iran reignited, with the U.S. military intercepting Iranian ballistic missiles. Glencore's trading profits in the first half, partly driven by Middle East turmoil, and its marketing division was set to report adjusted earnings of around $3.3 billion, a significant jump from $1.4 billion a year ago.

Tech Sector Faces Headwinds Amid AI Enthusiasm

Shares in South Korea's SK Hynix despite record results powered by the AI boom, as investors digested the company's overall performance. The Nasdaq 100 is flirting with correction territory as investors brace for earnings reports from Meta, Microsoft, and Amazon, while Big Tech's AI spending. Chip-equipment supplier ASM International after its guidance for next year fell short of expectations, though the company later citing strong AI orders. Emerging-market stocks, with the benchmark gauge hitting a three-and-a-half month low, as a rout in Asian chip stocks deepened. South Korea to address the stock market turmoil that has wiped billions off investor holdings.

Corporate Earnings and Outlooks Mixed

Bausch + Lomb on strong quarterly performance, raising its revenue target by $20 million to a new range of $5.44 billion to $5.54 billion. Automatic Data Processing (ADP) after its latest quarter saw growth in employer services and human resources outsourcing. Rheinmetall shares as defense spending remains healthy, with preliminary figures showing revenue jumped around 69% year-on-year. Intesa Sanpaolo to exceed €10 billion ($11.39 as it prepares for an offer for Monte dei Paschi. VF Corp., the owner of Vans after its quarterly loss narrowed, now expecting full-year revenue to grow by at least 2% on a constant-currency basis.

Financial Institutions Navigate Shifting Markets

Deutsche Bank after its pretax profit increased 11% year-on-year, adding to a recently completed 1 billion-euro buyback. UBS plans $3 after its investment bank and wealth units boosted profit, with the program expected to conclude by the second quarter of 2027. Standard Chartered and announced a $1 billion buyback, reporting a second-quarter net profit of $1.71 billion. UBS and Deutsche Bank in reporting trading-led profit surges, with both Swiss and German banks posting strong second-quarter results. ING Groep NV on about $10 billion of loans, including AI-linked debt, through significant risk transfers to free up capacity for new lending.

Inflationary Pressures and Economic Concerns Persist

Pakistan and Bangladesh as the Strait of Hormuz remains closed, forcing a switch to more expensive spot cargoes that erode the fuel's cost advantage. Turkey lifted milling as a record harvest is expected, ending a year-and-a-half pause. U.S. natural gas futures as solid production and inventories weighed against weather-driven demand. Australian core inflation, prompting traders to slash bets on another interest-rate increase this year. Philippine banks have set aside the most funds for potential loan losses since at least 2008, bracing for defaults as the Middle East conflict impacts the economy.

Luxury and Consumer Goods Sector Shows Resilience

Hermès' chief to gauge the handbag market, using an unusual metric to assess sales rebound potential in China. Hermès' sales in the Middle East, with demand in Europe, the U.S., and Japan offsetting the impact of regional conflict. Shares in Gucci owner Kering, beating analyst expectations with a 2% drop in organic sales for its flagship label. Remy Cointreau after cognac sales proved robust, with high-end cognac brands seeing a 7.7% organic sales increase in its fiscal first quarter. Danone's sales, buoyed by popular high-protein yogurts and fortified drinks.

Automotive and Industrial Sectors Adapt to Challenges

BMW offering buyouts through voluntary severance programs to streamline operations and compete with Chinese rivals. BMW AG is aiming to cut several thousand jobs in Germany via a voluntary severance program. Ford Motor, raising its full-year adjusted earnings outlook to between $10 billion and $11 billion. Porsche confirms guidance as turnaround efforts begin to pay off, with plans to invest in new models and reduce variants. Aston Martin while reporting a larger-than-expected quarterly loss.

Climate Change and Energy Transition Remain Key Themes

Europe is experiencing some of its biggest fires and highest temperatures ever, with experts warning. Wildfires in France and Spain, with high winds and rising temperatures posing ongoing threats. Neste Oyj, a Finnish renewable diesel producer, said it is exploring a U.S. listing as it seeks to tap into American capital markets amid a global push for sustainable energy solutions. CATL, the world's biggest EV battery maker for battery energy storage systems, pivoting to AI, grids, and ships. Nesta Trust's shift of funds from a U.S. asset manager to a European one highlights divergence in how investors are viewing climate risk.

Geopolitical Events and Regulatory Scrutiny Impact Markets

Russia has charged Telegram's founder Pavel Durov with facilitating terrorism, escalating a fight over the messaging app. The U.S. immigration and customs enforcement (ICE) has at airports as part of a deportation drive, including spouses of Americans and tech workers. The Bank of England at prime brokers, reviewing exposure to the AI sector at hedge funds and other clients of investment banks operating in the UK. The Daily Mail publisher from Prince Harry and other claimants to cover legal costs after losing a privacy lawsuit.

Private Equity and IPO Markets Show Activity

Blackstone Mike's fast to an IPO with an $8 billion valuation after reducing expenses for the sandwich chain. CVC Capital Partners Plc is considering a sale of its Chinese retail pharmacy chain Xi’an Yikang Pharmaceutical Co. Casey Wasserman’s talent and marketing agency will using a new investment from Providence Equity Partners, ending uncertainty about the company’s future. SoftBank Group Corp. priced ¥90 sold to institutional investors to broaden its funding sources. Quanta Computer Inc., an AI server maker, is seeking to raise as much as $2.19 billion from a sale of global depositary shares, in an offering that may be the biggest Taiwanese stock sale.