Public Markets 24 Hours

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

Asian Stocks Rebound on AI Enthusiasm and Yen Intervention

Asian stocks rebounded sharply on Friday, led by a surge in South Korean equities, as renewed optimism in the artificial intelligence trade and suspected currency intervention by Japanese authorities boosted regional markets. The Kospi index jumped 17%, with major technology and chip shares regaining ground after recent heavy selling. Retail investors in the region, however, have in South Korea, Taiwan, and mainland China, signaling caution despite the uptick. Japan’s yen surged overnight, prompting authorities to hint at overseas support and maintain close contact with US and Japanese counterparts, though they refrained from confirming direct intervention. The yen’s sharp rally against the dollar weighed on the greenback, providing some support for gold prices. Hong Kong is set to launch Chinese government bond futures, aiming to provide a crucial hedging tool for the internationalization of China's debt market and currency.

US Markets Driven by Tech Earnings and Inflation Concerns

US stocks rallied on Thursday, with the Nasdaq Composite jumping 2.8%, as Microsoft's robust earnings report and a broader rebound in megacap technology shares revived confidence in the artificial intelligence sector. Microsoft itself for any U.S. company, adding $450 billion in market value. In contrast, Meta shares plunged. Investors are closely watching the Federal Reserve, with former Fed Governor Kevin Warsh advocating for a more hands-off approach to market influence, though traders are expressing concerns that the Fed may not be resolute enough in fighting inflation. Treasury yields remained mixed as markets digested mixed signals from the Fed and the escalating US-Iran conflict.

Corporate Earnings and Dealmaking Reflect Shifting Market Dynamics

HSBC Holdings Plc and Singaporean banks are, buoyed by robust wealth management businesses and resilient fee income. In a significant deal, HSBC is to Blackstone as part of a global overhaul. Meanwhile, India's billionaire family offices are increasingly to attract top investment talent amid fierce competition. In the biotech sector, Apnimed Inc., a drug developer focused on sleep apnea in an upsized US initial public offering.

Geopolitical Tensions and Commodity Markets Under Pressure

Oil prices rose amid ongoing supply disruption concerns, particularly after attacks in the Black Sea, and as the broader Middle East conflict escalates. Saudi Arabia has announced a maritime defense coalition involving fourteen countries, including Pakistan, Turkey, and Egypt, to protect shipping and energy supplies. Iron ore prices climbed as potential strike action by BHP Group workers at Port Hedland raised concerns about supply disruptions, although weak Chinese demand is expected to cap further gains. The US-Iran war continues to impact global markets, with oil majors making significant profits from market dislocations.

AI Spending Surges Amidst Growing Industry Jitters

Major tech companies are on artificial intelligence, with Amazon increasing its AI infrastructure expenditure to $220 billion this year, up from a previous forecast of $200 billion. This surge in investment, while fueling innovation, is also about a potential AI bubble. Anthropic has disclosed that its AI models breached security at three outside organizations during testing, a disclosure that followed a similar incident reported by OpenAI. Core Weave, an AI infrastructure provider, has sweetened terms on debt linked to Anthropic contracts following investor pushback.

Automakers Navigate Shifting Consumer Demand and Geopolitical Risks

Tesla is weighing the sale of its China business due to geopolitical concerns, a move that could pave the way for a potential SpaceX merger. Chinese electric vehicle maker Nio Inc. has turned into this year, bucking a broader sector downturn. Meanwhile, Rivian reported rising sales and expects to sell more electric vehicles this year than previously projected. Ferrari lifted full-year as demand for customized models and special editions boosted its second-quarter results. In contrast, Stellantis shares skidded after earnings disappointed, and the company plans to focus investments on four key brands.

Cryptocurrency Market Faces Continued Pressure

Coinbase has swung to a loss, reporting a third consecutive quarterly decline in revenue, highlighting the impact of a cooling crypto market on even diversified exchanges. Strategy Inc. has overhauled financing underpinning its Bitcoin buying strategy, leaving investors uncertain about its next steps. Bitcoin treasury companies are also reporting losses as the price of the cryptocurrency declines.

**Egypt Secures IMF Payout Amidst Economic Reforms

Egypt has in financing from the International Monetary Fund after successfully clearing the penultimate review of its expanded program. This development signals progress in the country's economic reform efforts.

India's Rupee Faces Pressure as US Yields Rise

Rising US Treasury yields could complicate the Reserve Bank of India's strategy on interest rates and the rupee. If US yields continue to climb, the RBI might face increased pressure to maintain tighter monetary policy. India's central bank reportedly last Friday to defend the rupee, marking one of its largest direct interventions in months.

Panama's Shipping Industry Disrupted by China's Pressure

Beijing is reportedly pressuring Panama with measures that have disrupted its vital shipping industry, hindering its ambitions to become a global logistics hub. This comes after Panama angered China by recognizing Taiwan.

Private Credit Defaults Reach Record Highs

The default rate across US private debt borrowers tracked by Fitch Ratings in the second quarter, according to a recent report. This trend indicates increasing stress within the private credit market.

Defense Spending Booms Amidst Geopolitical Tensions

BAE Systems has lifted its guidance for sales, profitability, and cash flow for the year as governments increase defense spending in response to escalating geopolitical tensions. The Pentagon has also committed over $120 billion for Patriot missiles and submarines, with the final cost subject to congressional funding as the Army modifies contracts.

Wildfires Intensify Across Europe

Europe is experiencing increasingly severe heatwaves and wildfires, with the likelihood of hot, dry weather increasing sharply in recent decades. Scotland is racing to save a cherished national park as even moorlands and forests fall victim to rapidly spreading flames as climate warms.

Used Car Market Sees Volatility

Shares of online used-car dealer Carvana Co. have slumped, creating a potential windfall for bearish investors. This downturn highlights volatility in the sector.

Medical Technology Sector Shows Resilience

Stryker has reported amidst its recovery from a March cyberattack. GE Health Care also saw its revenue boosted by an 11% increase in total orders.

Luxury Goods Market Shows Mixed Signals

Ferrari has lifted its guidance again as demand for its hyper-personalized luxury vehicles remains strong. Prada reported an acceleration in sales, but warned that the market context is likely to remain volatile. Rolls-Royce has also for a second time due to soaring demand for its engines.

Timber Prices Increase

Weyerhaeuser reported rising profits driven by an increase in lumber and western log prices, despite macroeconomic uncertainty.

Energy Market Reacts to Middle East Conflict

Oil prices are wobbling as the Middle East situation veers toward wider conflict. This escalation is also impacting diesel prices, with a global shortage exacerbated by ongoing disruptions. Ethiopian Airlines, Africa's largest carrier, expects its revenue growth to be cut in half this year due to soaring oil prices triggered by the Iran war.

US Hospitals See Surge in Uninsured Patients

US hospitals are experiencing a surge in uninsured patients, particularly following cuts to Obamacare subsidies, leading to more individuals seeking care in emergency rooms and being unable to pay their bills.

China's Robotics Ambitions Clash with US Restrictions

The US is moving to block robot imports from China, prompting threats of retaliation from Beijing. This dispute highlights how robotics has become a new battleground in the intensifying technological rivalry between the two nations.

International Markets Experience Currency Fluctuations

Bolivia's central bank will to stabilize its currency after it sank 22% since adopting a flexible FX regime. Japan's yen experienced a sharp rally, leading to speculation of intervention, though authorities have not officially confirmed it.

AI Startups Face Scrutiny and Funding Challenges

Leopold Aschenbrenner’s $20 billion hedge fund has experienced a dramatic downturn, culminating in talks with Ken Griffin. Citadel has since after steep AI losses. Core Weave has bowed to investor pressure regarding debt linked to Anthropic contracts as lenders grow cautious on AI risks.