Public Markets 3 Days

Last updated: July 8, 2026, 11:30 PM ET

Geopolitical Tensions Drive Oil and Treasury Yields Higher

Oil futures as attacks on Persian Gulf shipping prompted the US to revoke a waiver that had relaxed restrictions on Iranian crude sales. Renewed hostilities in the Middle East, with oil futures pulling further away from pre-war levels as strikes resumed between the US and Iran. The renewed conflict for Treasury yields, which rose to four-week highs. The WSJ Dollar Index, though the dollar advanced for a second straight session as escalating fears of a return to full-scale war between the US and Iran prompted investors to seek shelter in safe-haven flows. Gold, however, was flat in Asian trade amid renewed fighting and after the Federal Open Market Committee’s latest minutes.

Asian Markets React to Chip Demand and Geopolitical Headwinds

Asian shares, as optimism over AI-driven demand rekindled appetite for semiconductor stocks. Oil extended gains after the US struck Iran for a second day. Hong Kong-listed Chinese stocks into less-crowded parts of the global market, while reports of local AI model makers developing their own chips boosted confidence. Alibaba Group Holding Ltd.’s shares surged the most in 10 months after investors turned optimistic on its earnings. The Singapore dollar amid possible position adjustments.

Corporate Dealmaking and Market Movements

Apple Inc. supplier Luxshare Precision Industry Co. trading debut after raising HK$24.3 billion ($3.1 in the city’s biggest listing this year. German online car-parts retailer Autodoc Holding SE is raising €530 million ($606 in debt financing to buy back a minority stake held by Apollo Global Management Inc. raising €530. In the US, Tera Wulf will partner with Anthropic to build an artificial-intelligence infrastructure campus in Kentucky that could generate $19 billion in revenue. South Korea’s AI chip boom is creating a divide between workers, with semiconductor employees receiving huge bonuses.

US Economic Indicators and Corporate Performance

US crude oil inventories, the first increase in 11 weeks, as production and imports increased and exports fell. Levi Strauss, now expecting revenue growth of 7% to 7.5%. The apparel company’s expanded offerings and direct-to-consumer shift are paying off. In the auto sector, S&P Global Ratings, citing the company’s strategy to sell lower-cost motorcycles. Delta Air Lines’ new basic business offering with fewer perks, reflecting a shift toward a la carte pricing.

Regulatory and Legal Developments

A US judge pressed Gautam Adani for more details on the Justice Department’s move to dismiss a criminal case against the Indian billionaire. E. Jean Carroll asked a federal judge to order the release of a $5 million judgment against Donald Trump after a jury found he sexually abused and defamed her. Zillow Group Inc. and Rocket Companies Inc.’s Redfin are headed to trial next month in the US Federal Trade Commission’s challenge to an apartment-listing partnership.

Federal Reserve and Monetary Policy Signals

Bank of Korea Governor Shin Hyun Song told parliament that policy rates will need to rise at an appropriate time, reinforcing the bank’s hawkish stance. Minutes from Kevin M. Warsh’s first meeting as Federal Reserve chairman, which is running at a three-year high. Traders are pricing in a September rate cut for Japanese government bonds.

New Zealand Manufacturing and Indonesian Bonds Show Strength

New Zealand manufacturing expanded at the fastest pace in almost five years in June, with central bank Governor Anna Breman pointing to a burgeoning economic recovery. Global inflows into Indonesian sovereign bonds are poised to extend, with investors seeing value in some of emerging Asia’s highest yields on bets that a bruising round of interest-rate hikes will conclude.

US Strikes on Iran and Market Reactions

Copper snapped two-day as it shrugged off a fresh round of US strikes on Iran to focus on optimism over a longer-term demand boost from artificial intelligence. Oil rose amid concerns over supply disruption in the Middle East. Wall Street’s peace trade collided with renewed Iran fighting, causing the Dow to fall as global oil prices posted their steepest climb since May. Russia has banned diesel exports due to fuel shortages caused by Ukrainian drone strikes on refineries.

Challenges in the US Political and Business Sphere

The trouble in Maine goes beyond a single candidate, with several Democrats expressing interest in running for the Senate even before Graham Platner suspended his bid. Counterfeit air-bag parts are claiming lives, and the government is struggling to stop the issue. The developer behind a Midtown Manhattan tower that was evacuated over structural concerns has a plan to fix the issue.

Tech IPOs and Market Sentiment

SK Hynix Inc.’s US listing is more than seven times oversubscribed as the South Korean memory chipmaker prepares to price its offering. Big Tech’s $25 billion mega bond sales are pushing market limits. SpaceX shares, falling below their first-day opening price amid a broader tech slump. The FTSE 100 is set to outperform as a tech selloff hits sentiment.

Other Notable Market and Business Developments

The WSJ Dollar Index ended the session little changed. U.S. natural gas futures remained stuck in a tight range as solid weather-driven demand was met with ample supply. Aston Martin noteholders have signed a cooperation pact amid earnings pressure weighing on the company’s debt. Tesco is exploring the sale of its European business.