Public Markets 3 Days

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

Geopolitics & Markets

Renewed Middle East tensions, stemming from U.S. strikes on Iran and the revocation of waivers allowing Iranian oil sales sent crude prices higher. These developments spurred fears of energy supply disruptions, complicating the inflation outlook and prompting a retreat in Asian bonds and a weakening of regional currencies against the dollar. Gold, however, rose on the renewed tensions, though it later traded narrowly as investors awaited clues on the Federal Reserve’s interest rate path. The U.S. military operations followed Iranian attacks on ships in the Strait of Hormuz. In Asia, renewed Middle East tensions largely weakened currencies against the dollar.

Equities & Investment

India's stock rally, which had been broadening and attracting foreign investment, faced a challenge from U.S.-Iran developments. Despite broader market volatility, South African money manager Ninety One, with $29 billion in assets, saw a selloff in Indonesian assets, exacerbated by the Iran conflict, as a buying opportunity and entered the market. Meanwhile, S&P Dow Jones Indices placed Turkey on a watchlist for a potential downgrade to frontier-market status, following a similar warning from MSCI Inc. S&P Dow Jones Indices also listed Indonesia for a potential downgrade.

Fixed Income & Debt

Government bonds in Asia-Pacific fell in price amid rising crude oil prices. Japan's borrowing costs soared to a 30-year high due to concerns over long-term spending plans. German 10-year Bund yields reached a two-week high, partly driven by Germany's increasing net funding requirements. Treasury yields rose as U.S.-Iran tensions intensified, with the selloff accelerating after the U.S. revoked Iran's global oil sales license in response to attacks in the Strait of Hormuz.

Corporate & Deal News

In the technology sector, Apple's interest thrust China's CXMT into the memory chip spotlight, marking a significant turnaround for the state-backed company central to Beijing's AI supply chain efforts. GM-backed Momenta achieved in Hong Kong, testing market appetite for autonomous-driving firms. Temasek-backed Foundation Healthcare Holdings had Singapore's largest IPO outside of real estate investment trusts this year. SK Hynix's planned American depositary receipts received bullish calls from UBS, which recommended buying the ADRs over Seoul-listed shares. Chinese autonomous driving firm Momenta Global Ltd. raised HK$5.9 billion ($752 million) in its Hong Kong IPO. Foundation Healthcare Holdings Ltd. made its debut in Singapore.

In other corporate activity, Sumitomo Mitsui Trust Bank inked a $2 billion partnership with Morrison, taking a 15% stake in the New Zealand-based infrastructure investor. Jefferies Financial Group is shopping $5 billion in debt to potentially support Carl Icahn in a rival bid for Caesars Entertainment. Autodoc Holding SE in debt financing to buy out Apollo's stake. Welltower Inc. raised C$1.15 billion in a Canadian bond sale. German online car-parts retailer Autodoc Holding SE is raising €530 million ($606 in debt.

Automotive & Transportation

Rivian Automotive Inc.'s stock plunged the most in over a year following its announcement of a planned share sale to fund equity contributions related to a U.S. Department of Energy program. In China, the startup Windrose Technology faces questions from ex-employees regarding missing paychecks and the status of its trucks.

Energy & Commodities

Oil futures jumped sharply as the U.S. revoked Iran's license to sell oil in response to attacks on ships in the Strait of Hormuz. Exxon Mobil Holdings Corp. reported a $3.7 billion profit surge in the second quarter, bolstered by the Iran conflict's impact on oil prices. Germany's oil stockpiling agency is looking to refill strategic reserves of diesel, potentially adding pressure to the fuel market. Shell's gas trading division expected significantly higher results due to conflict-driven gains, though overall gas output fell.

Financial Services & Regulation

The Federal Reserve proposed changes to anti-money laundering requirements for banks, aiming to address core financial risks. Hedge funds shook off to post their strongest first-half results since 2021. Quantitative hedge funds, however, extended their worst run since 2023. JPMorgan Asset Management trimmed its long yuan positions against the dollar, shifting focus to higher-yielding currencies. Getty Images Holdings Inc.'s lenders organized amid renewed concerns over the company's unsustainable debt.

Technology & AI

Samsung Electronics Co.'s earnings failed to satisfy investors, leading to a slump in Asian tech stocks and a rotation into less affected sectors. Meta released its first image model since Mark Zuckerberg's AI overhaul. Nokia's pivot to supplying AI data centers has seen its shares surge approximately 90% this year. SpaceX shares stumbled in their Nasdaq-100 debut, falling below their opening price amid a broader tech slump, though Wall Street banks issued for the company. Morgan Stanley's Lisa Shalett sees hyperscalers back in favor.

Politics & Legal

In Mexico, former Pemex CEO Victor. U.S. authorities waiver allowing Iranian oil after tanker attacks. In Maine, Democrats clashed over the process to name a Senate nominee to replace Graham Platner, who faces a rape accusation. A federal judge rejected a Justice Department subpoena concerning election workers in Fulton County, Georgia, related to the 2020 vote. The U.S. Justice Department threatened top election officials over noncitizen voting.

Other Markets & Industries

Smucker's $5 billion bet reportedly flopped due to shelf-life issues and changing consumer habits. Gucci Beauty license back for $400 million. Oklahoma sued Allstate Corp., alleging the insurer underpaid claims to boost profits. The World Cup boost Mexico's airport industry, with shares of operators falling after disappointing traffic figures. Marine Le Pen can run for president after a court shortened a ban on her eligibility. The U.S. soccer team's World Cup involvement drew attention due to Trump's intervention.