Public Markets 3 Days

Last updated: July 7, 2026, 11:30 AM ET

Global Markets & Macroeconomics

The global markets experienced a mixed trading session as geopolitical tensions in the Middle East and shifting economic outlooks influenced investor sentiment. U.S. Treasury yields rose amid Mideast tension ahead of the Federal Reserve’s June meeting minutes, while the yen's weakness triggered speculation of coordinated central bank intervention to boost the currency. Germany faces long-term challenges to its AAA credit rating, with Scope Ratings emphasizing the need to stabilize its debt mountain to maintain its top grade. The U.S. trade deficit widened in May, reaching its highest level in over a year due to record goods imports, including pharmaceuticals and data center equipment pushing deficit higher.

Energy & Commodities

The oil market remained volatile, with OPEC+ members agreeing to a modest increase in production quotas, potentially adding to supply as Gulf producers race to bring idle wells back online facing market share battle. Despite this, a Saudi-flagged tanker sustained damage in the Strait of Hormuz, the latest incident highlighting risks to navigation in the key waterway. Global natural gas demand is projected to drop for the first time since 2022, largely due to higher prices stemming from the Iran war, according to the International Energy Agency gas demand to fall. U.S. natural gas futures remained rangebound, with market focus on summer weather patterns and power sector consumption futures steady. BP Plc significantly boosted its European jet fuel production by 30% during the Iran conflict, aiding the region in avoiding shortages BP boosted output. Germany's oil stockpiling agency is actively refilling strategic diesel reserves, potentially tightening an already strained fuel market refilling strategic reserves. Iraq has ramped up oil production at three southern fields to full capacity Iraq boosts output.

Equities & Tech

Technology stocks experienced renewed weakness after Samsung Electronics Co.'s earnings failed to meet lofty artificial intelligence expectations Samsung miss. This led to volatility and concerns about AI spending, with Apollo Global Management's Torsten Slok warning that companies outside of tech giants are not yet seeing profitability gains from AI investments AI gains years away. The Magnificent Seven tech giants are losing their market dominance, with the AI trade now spreading beyond these behemoths Mag 7 loses swagger. SK Hynix Inc.'s planned $28 billion offering is bringing Korean market fever to the U.S., with the sector contributing to the Nasdaq Composite's rise SK Hynix listing. Volatility in tech stocks has reached its highest point since the dot-com bust, mirroring concerns over the broader market tech volatility highest. Morgan Stanley strategists suggest a rotation from chip stocks to hyperscalers, anticipating headwinds for U.S. stocks aiming for new highs rotation chips. Microsoft announced significant job cuts, axing 4,800 positions as it resets its Xbox division amid pressure from weak margins and industry hardware downturns Microsoft axes jobs.

Deals & Investments

Angola is planning its largest IPO, aiming to raise approximately $320 million by