Public Markets 3 Days

Last updated: July 7, 2026, 8:30 PM ET

Geopolitics & Markets React to Iran Tensions

Oil futures surged 3.5% in early Asian trade following renewed supply disruption fears after the U.S. military launched new strikes against Iran. The Treasury Department also revoked a waiver allowing global sales of Iranian oil, sending crude prices higher and Treasury yields rising sharply. The renewed conflict endangered an interim deal to end the war, which had previously stoked inflation and raised prospects for interest-rate hikes, causing gold to hold a decline. Asian stocks were poised to drop for a second day as a selloff in chipmakers rippled across markets, with U.S. stocks retreating on worries about AI trade and Hormuz fears.

Corporate Dealmaking & IPOs

Foundation Healthcare Holdings is set to debut on the Singapore exchange following its initial public offering, the largest in the city-state this year outside of real estate investment trusts. In Hong Kong, Chinese autonomous-driving firm Momenta Global is also scheduled for trading after raising HK$5.9 billion ($752 in its IPO, testing market appetite. Coty will transfer the Gucci Beauty license back to Kering ahead of schedule for $400 million, with Kering expecting to license the brand to L’Oréal for a 50-year term beginning mid-2027. Meanwhile, Jefferies is shopping $5 billion in debt to support Carl Icahn’s potential rival bid for Caesars Entertainment Inc.

Tech Sector Volatility & AI Investments

U.S. technology shares declined on Tuesday after Samsung Electronics’ earnings failed to impress investors, sparking concerns about the sustainability of the artificial intelligence rally. The tech rout deepened as chipmakers fell, though some analysts remain bullish on SpaceX, with one predicting its valuation could soar above $10 trillion. Software stocks were crushed, with the market potentially overreacting to AI risks. Private equity firms are sitting on a nine-year backlog of software holdings, with investor worries about AI weighing on exit efforts according to Wall Street. Despite the broader tech slump, SpaceX shares stumbled in their Nasdaq-100 debut, falling below their opening price.

Energy Market Dynamics

Exxon Mobil reported a $3.7 billion profit surge in the second quarter, driven by war-fueled oil price rallies. Shell’s traders also saw a boost from conflict, though its gas output fell due to lost Qatari volumes. The company's gas-trading division is expected to report significantly higher results than the first quarter. BB Energy struck a deal with South Sudan to unblock oil sales, relaxing an injunction in exchange for three cargoes of oil, easing a $142 million legal dispute. U.S. natural gas futures rose on summer demand, supported by weather patterns against an abundant supply.

Financial Markets & Regulatory Watch

Sumitomo Mitsui Trust Bank inked a $2 billion partnership with Morrison, taking a 15% stake in the New Zealand-based infrastructure investor to offer its Japanese customers access to new investments. The Federal Reserve proposed changes to anti-money laundering requirements for banks, a move aimed at addressing core financial risks as regulators focus. HSBC’s Kettner sees hyperscalers back in favor, noting their profitability despite massive AI spending. Traders are increasing bets that the broader market is overestimating the Federal Reserve’s interest rate hikes this year, hedging for a less hawkish stance according to Bloomberg.

Global Economic Outlook & Reclassifications

S&P Dow Jones Indices has listed Indonesia for potential market reclassification, indicating it may consider special treatment for its securities if conditions worsen. Asia’s loan market is heading into the second half of the year with little sign of a rebound, as the fallout from the Iran conflict continues to sap confidence. Foreign investors have returned to India’s banks after a $12 billion selloff, as central bank measures ease funding constraints for lenders. German 10-year Bund yields hit a two-week high, with yields rising across the board partly due to Germany’s increasing net funding.

Investment & Asset Management

Oman’s Temasek-backed Foundation Healthcare Holdings Ltd. is set to debut in Singapore, marking the largest IPO this year outside of real estate investment trusts. Chinese autonomous-driving firm Momenta Global Ltd. is also poised for its Hong Kong debut after raising HK$5.9 billion ($752 . Cult.Fit Ltd., a gym operator backed by Temasek, has filed paperwork for an IPO aiming to raise about $100 million in India. Hedge funds are shaking off a brutal March to post their best first half since 2021, with firms reporting their strongest results in five years according to Bloomberg.

Election Integrity & Legal Challenges

A federal judge rejected a Justice Department effort to obtain information on election workers in Fulton County, Georgia, related to the 2020 vote, casting serious doubts on the department’s reinvestigation efforts as reported by Bloomberg. The Justice Department has also threatened top election officials over noncitizen voting, amid President Trump’s efforts to tighten election rules according to The New York Times. A ruling cast serious doubts on the department’s efforts to reinvestigate the 2020 race, finding it too late to bring criminal charges as per The New York Times. New federal rules require states to implement paper ballot systems, verify citizenship, and conduct costly audits to receive terrorism grants as stated by The New York Times.

Luxury Goods & Precious Metals

High jewelry has boosted desirability, outshining the broader luxury sector due to asset-rich buyers, soaring gold prices, and significant new launches that have elevated the category's investment potential according to the Financial Times. The industry is pushing to restore the sparkle of natural diamonds through a marketing drive using storytelling, particularly targeting millennial and Gen Z consumers as noted by the Financial Times. "Made in Thailand" is gaining ground as a mark of quality in jewelry, with technical expertise and sustainability credentials contributing to the sector's export strength according to the Financial Times. Gold and silver finished lower, though analysts foresee upside for gold prices through the second half of 2026.

Infrastructure & Strategic Investments

Abu Dhabi’s ruling family firm will invest $1.13 billion in liquefied natural gas company Mid Ocean Energy LLC. Canada is offering C$400 million ($282 to Teck Resources Ltd. to boost metals output from a key refinery, a deal that could ensure Canadian production according to Bloomberg. Eni is investing $225 million in U.S. startup Energy X’s Chile lithium project, securing rights to up to a quarter of future lithium production. The Canadian government is also looking to create a flashpoint over foreign investment with airport expansion plans threatening the birthplace of Canada’s gay pride movement as reported by the Financial Times.

Automotive & Transportation Sector

Rivian Automotive Inc. saw its stock tumble the most in over a year after announcing plans to sell 75 million shares to fund equity contributions related to a U.S. Department of Energy agreement. Nokia’s shares have surged roughly 90% this year as the company pivots to become a heavyweight infrastructure supplier for AI data centers. Chinese-European startup Windrose Technology faces questions from ex-employees about its future, with missing paychecks and a lack of trucks according to The Wall Street Journal. Airbus will make its first foray into engine manufacturing with a hydrogen tie-up, forming a joint venture with Germany’s MTU Aero Engines.

Banking & Financial Services

JPMorgan, Bank of America are exploring a deal for a card network that could allow for larger transaction fees, though some executives worry about backlash. Fifth Third’s acquisition of regional bank Comerica has leaders confronting a debate over menu offerings. Welltower Inc. raised C$1.15 billion ($809 in a two-part Canadian bond deal, becoming the latest U.S. firm to tap investors north of the border. The Aspen Group has indicated it is no longer proceeding with the sale of its urgent care clinic chain Well Now, after seeking buyers to address a looming debt deadline as reported by Bloomberg.

Healthcare & Pharmaceuticals

Island Pharmaceuticals Ltd. surged as much as 47% after its experimental antiviral galidesivir secured regulatory and ethics approvals for emergency use in patients with certain viral infections. Health care sector insights can be found in the latest Market Talks covering Eli Lilly, Vertex Pharmaceuticals, and more. Andrea Shaw, a plaintiff in an anti-vaccine suit, has been charged with the murder of her twins, though the lawsuit filed by Children’s Health Defense claims vaccines caused their deaths according to The New York Times.

Political Developments & Senate Race

Democrats in Maine and nationally are exploring potential alternatives to Senator Graham Platner, who has not yet withdrawn from the race following a rape allegation as reported by The New York Times. Bernie Sanders was among the last prominent allies to call for Platner to drop out after the accusation according to The New York Times. Progressives and moderates are gearing up for a fight over the process to name a Senate nominee to replace Platner, who still wishes to have a say as per The New York Times. Rahm Emanuel is in Tel Aviv calling for an end to unconditional U.S. support of Israel, criticizing Netanyahu as Israel loses support in the U.S. according to The New York Times.

International Relations & Trade

President Trump is expected to tell Turkey he is ready to restore access to F-35 jets, heading to a NATO summit in Ankara as reported by The New York Times. Turkey is hosting the NATO summit while cracking down on critics, blocking websites and jailing individuals over terrorism allegations according to The New York Times. The U.S. is changing trade rules in its favor, with the Bessent Doctrine asserting that days of being "played" are over according to The New York Times. The Trump administration’s failure to renew the U.S.-Mexico-Canada pact in its current form is a gift to lobbyists and will discourage investment as stated by The Wall