Public Markets 24 Hours

Last updated: August 4, 2026, 5:31 AM ET

Global Equities and Currencies

European stocks opened strongly, with defense and AI-related companies seeing gains. The euro traded flat against the dollar, with analysts at ING suggesting the currency appears modestly overvalued and may struggle to appreciate further. Meanwhile, WSJ Dollar Index edged up 0.1%, breaking a four-day losing streak. The dollar extended its slide as a joint US-Japan intervention to support the yen added to losses triggered by the Federal Reserve meeting. Investors remain skeptical about the yen's strength even after the joint US intervention, though the currency has rallied since the move. Japan alternative tools to defend the yen without liquidating its over $1.1 trillion US Treasury portfolio, as its short-term debt holdings are diminishing.

Corporate Earnings and Deals

HSBC Holdings Plc posted a sharply higher quarterly pretax profit, driven by strong performance across its four key segments, particularly in wealth management for affluent clients. The bank also announced plans for a $1 billion share buyback, and its CEO indicated a potential increase in the bonus pool if performance continues to be strong. BP reported a surge in oil profits, with its oil trading and higher energy prices lifting earnings, as the company plans to offload its Archaea biogas unit in the US for approximately $4 billion. Saudi Aramco reported a 33% surge in quarterly profit, attributing the increase to higher oil prices and utilizing pipelines to circumvent disruptions in the Strait of Hormuz. month, Saudi Aramco stated there was no material impact on its operations and is working to expand its oil export capacity.

Volvo Car experienced a 4% slip, primarily due to weakness in the Chinese market, although sales in the U.S. rose for the third consecutive month with double-digit percentage growth. Zalando shares declined after the German online retailer reported weak second-quarter results and narrowed its full-year outlook. In a significant real estate deal, US rival Prologis made a final takeover offer for London-listed Segro, valued at £14 billion, with Segro's directors intending to recommend the offer to shareholders. profit risks due to volatile jet fuel prices and shortened booking cycles, leading it to tighten its 2026 guidance after reporting a significant slump in net profit for the second quarter. the German tire company, anticipates meeting its guidance despite higher raw material costs, though it warned of a substantial increase in these costs for the second half of the year.

Commodities and Economic Indicators

Oil prices rebounded with Brent crude up 1.3% and WTI up 0.6% after a previous selloff, as investors digested uncertainty surrounding US-Iran talks and awaited US job openings data. Gold prices rose as investors weighed mixed signals on US-Iran discussions and anticipated upcoming US jobs data. Chinese institutional investors have been actively buying gold, helping to halt its decline and maintain prices above $4,000 an ounce. Copper advanced to its highest level in two months, nearing $14,000 a ton in London, as traders monitored increasing volumes of the metal in the US ahead of a potential decision on import tariffs. Iron ore traded near a 13-month low, potentially threatening higher-cost production. US stock futures rose, and oil edged higher as investors awaited US job openings data for June. U.S. stocks rallied, while oil prices fell sharply as President Trump signaled a return to diplomacy with Iran. Oil was steady after its biggest drop in a week, as President Donald Trump stated his latest offer of talks was Tehran’s “last chance” and expressed expectations for a full reopening of the Strait of Hormuz.

Market Trends and Investments

Europe's stock market has shown a meaningful improvement in risk appetite recently, supported by capital inflows and better-than-expected earnings, making it the only major region to experience such a trend. becoming a preferred safe haven for fund managers navigating a complex global environment. US stock futures rose, indicating a potential extension of the rally, while oil rebounded amid ongoing uncertainty. U.S. stocks rallied, while oil prices fell sharply as President Trump signaled a return to diplomacy with Iran. The S&P 500 held near record highs as investors focused on corporate earnings after a period of choppy trading influenced by concerns over tech valuations and Middle East conflicts. Securities believes Citadel Securities believes the drivers of the current US stock bull market remain "firmly intact" following a reset in speculative trading by retail investors.

SpaceX's anticipated earnings report post-IPO is a significant event for Wall Street, with investors looking for reasons to buy into the stock. Infinx Services, a healthcare revenue cycle management company backed by KKR, is reportedly considering a $300 million IPO in India. Australia's financial regulator has proposed measures to allow companies planning IPOs greater flexibility in marketing themselves before filing a prospectus.

Geopolitical and Economic Developments

Nigeria announced an approved $4.5 billion arrangement with its state-owned energy firm to bolster foreign-exchange reserves and fund government spending on infrastructure. The US Department of Defense has canceled a tender to purchase lithium for its strategic stockpiles, indicating challenges in bolstering supplies of critical minerals. In a move to address potential disruptions, India increased levies on fuel exports to build domestic stockpiles, despite a pause in fighting between the US and Iran. Oil exports from Venezuela plunged in July due to weaker demand from India, which shifted its focus to Middle Eastern barrels unlocked by a pause in the Iran war.

The US and Japan conducted a joint intervention to support the yen, causing the dollar to slide further. Japan additional tools to support the yen beyond selling US Treasuries, according to Citigroup, though a rarely used Federal Reserve liquidity facility could complicate prolonged intervention efforts. The US intervention to support the yen signals a new era of "currency activism" where the US is willing to counter trades that do not align with its interests.

Iran war has highlighted the utility of unmanned surface vessels, prompting defense-tech company Anduril to explore investment in a Baltimore shipyard for drone boat production. Clarkson Plc, a UK shipbroker, expects its full-year performance to significantly exceed market expectations due to "exceptional volatility" caused by the disruption in the Strait of Hormuz. Sailors working in the Strait of Hormuz are caught in the crossfire of the Iran war, with thousands of civilian workers stranded on ships at risk of attack.

Other Market News

Amazon.com Inc. surpassed $3 trillion in market value for the first time, becoming the fifth company in history to reach this milestone. UBS has agreed to pay $125 million in fines to settle allegations of willfully and repeatedly violating anti-money laundering regulations. UBS Financial Services Inc., a subsidiary of UBS Group AG, failed to implement adequate anti-money laundering controls despite previous sanctions from US regulators.

Tyson Foods is facing pressure on its bottom line due to rising beef costs, stemming from a shortage of cattle in the U.S. that has driven up expenses for meatpackers. Whirlpool's focus on North America has tied its fortunes to the slumping U.S. housing market, leading to financial difficulties after it abandoned its global ambitions. Clorox Company reported fiscal fourth-quarter earnings that beat analyst expectations, despite lower sales volumes and additional costs related to logistics and a recent acquisition. Fresenius Medical Care AG shares declined after the German company reported lackluster growth in its dialysis business, raising concerns about its future prospects.