Public Markets 3 Days

Last updated: July 11, 2026, 5:30 PM ET

Markets Brace for Fed Testimony Amid Inflation Data

Federal Reserve Chairman Kevin Warsh faces his first congressional testimony, with new U.S. inflation data poised to shape the July Fed decision. Meanwhile, U.S. stocks posted a second consecutive week of gains, buoyed by easing war jitters in Iran and the debut of South Korea’s SK Hynix Inc. US Stocks. The SK Hynix IPO saw shares rise on their first day of U.S. trading, opening above its initial public offering price of $149. Macro hedge fund Deem secured $1 billion from Abu Dhabi’s ADIC, reflecting a surge in appetite for macro strategies. Goldman Sachs sees carry trades, a currency market strategy, experiencing the most compelling backdrop in over two decades.

Corporate Earnings and Sector Trends Under Scrutiny

Wall Street is anticipating a near-record earnings season, but investors question if this will sustain the current stock market rally. Most companies that rebranded to emphasize AI have not sustained their valuation gains, an FT analysis revealed. Palantir CEO Alex Karp has voiced the anxieties of many CEOs regarding the growing power of AI upstarts. Apple has filed a lawsuit against OpenAI, alleging the theft of trade secrets to develop competing devices Apple alleges OpenAI stole trade secrets to develop competing devices. Volkswagen’s struggles are largely attributed to its China operations, where fierce competition from domestic automakers is impacting global markets. The German auto giant’s CEO faces pressure from labor unions over a revival plan that failed to gain initial backing. Tesla’s Elon Musk made history last month as the world’s first trillionaire.

Geopolitical Tensions and Energy Market Dynamics

Renewed fighting between the U.S. and Iran has exposed cracks in the peace-trade rally, with Qatari mediators attempting to salvage a fragile truce. Oil prices eased as U.S. and Iran continued talks following a flare-up in attacks that disrupted tanker traffic through the Strait of Hormuz. China has instructed some refiners to maintain high fuel production to protect domestic consumers amid ongoing strikes in the Persian Gulf. At least $1.6 billion worth of Russian diesel and fuel oil has been funneled from Indonesia’s Karimun island to regional markets, making it a hub for Moscow's oil exports. Eni SpA CEO Claudio Descalzi warned that the global energy situation could worsen due to declining oil inventories and intensifying supply competition.

Real Estate and Infrastructure Development

Developers of a troubled Midtown high-rise have attempted to avoid the spotlight, but their largest project is now in limbo. A criminal investigation is underway into a buckling Manhattan high-rise, with the New York City Department of Investigation and the Manhattan district attorney’s office involved. A bipartisan housing bill has become law, offering incentives for local governments and builders to implement incremental changes, though President Trump declined to sign it. China’s nationwide electricity load hit a record high on July 10, driven by demand from data centers and electric vehicles.

Regulatory Scrutiny and Legal Battles

The White House directed FBI Director Christopher Wray to oversee an investigation concerning New York Times reporting, leading to subpoenas for several Times reporters who wrote about the security of Air Force One. The Justice Department is seeking testimony from reporters who wrote about the new Air Force One, a move The Times called a “brazen act”. A lawsuit filed by the Equal Employment Opportunity Commission claims The New York Times discriminated against a white male employee who was denied a promotion. Police are grappling with how to enforce traffic laws for driverless cars, with officers learning to direct, corral, and penalize autonomous taxis.

Consumer Markets and Economic Trends

Fuel prices are impacting consumers significantly, even as crude oil prices ease, a divergence that is increasing costs for travelers and potentially undermining economic stability. President Trump is increasing pressure on U.S. companies to lower prices, a strategy critics fear is a return to a “hyper-populist playbook” amid lingering inflation. Grocery stores are lowering prices, but consumers may not see a significant overall decrease in their grocery bills. The World Cup TV rights in the U.S. are no longer a discount, indicating a shift in the market value of major sporting events.

International Relations and Political Landscape

Representative Ro Khanna was detained for 90 minutes by Israeli settlers in the West Bank, a departure from past U.S. leaders’ tours of the region. President Xi Jinping affirmed China’s commitment to its friendship with North Korea and support for Kim Jong Un’s leadership. In Sudan, hundreds of thousands are anticipating an advance by a militia notorious for atrocities. The U.S. and Canada have agreed to open a new Detroit bridge after resolving toll-related issues.

Social Issues and Domestic Affairs

The sons of Lorenzo Salgado Araujo, who was killed by ICE in Houston, are demanding accountability. Surveillance footage obtained by The Times shows aggressive driving by ICE agents in unmarked vehicles prior to the fatal shooting of Lorenzo Salgado Araujo, though the exact moment of the shooting remains unclear. Mr. Araujo, an immigrant from Mexico, was a father, husband, and business owner. Witnesses to the ICE killing dispute the official account provided by the agency. The Trump administration is easing protections for endangered species, ending a 50-year-old safeguard that could accelerate the decline of imperiled animals.

Technological Advancements and Data Centers

Farmers, ranchers, and companies are warning about the excessive use of farmland for AI data centers, leading to water depletion concerns. The data center boom is impacting communities, with Big Tech’s push for rapid approvals on Native American land pitting development needs against a history of exploitation. Carlyle plans to sell its data center power unit for a fivefold return, underscoring a bright spot for private equity amid strong demand for AI infrastructure. Tera Wulf is preparing to raise approximately $3.5 billion in debt to construct a data center campus in Kentucky, marking its first entry into the leveraged loan market.

Emerging Markets and Investment Trends

Nigeria is taking steps to achieve frontier market status, with its stock market experiencing a surge amid renewed investor interest. Global inflows into Indonesian sovereign bonds are expected to continue, with investors seeing value in some of emerging Asia's highest yields on bets that interest-rate hikes will slow. Kazakhstan billionaire Timur Turlov's Freedom Holding Corp. raised $300 million in a share sale to fund its international expansion. Milky Mist Dairy Food Ltd. is preparing to launch its $213 million initial public offering this month, a move that could pave the way for future food industry listings.

Automotive Industry Shifts

The Slate Auto truck, noted for its minimalist design and affordable price, is entering a challenging market. Volkswagen and BMW are experiencing sales declines in China, a market that has worsened and is offsetting performance gains elsewhere for the German automakers. Charlie Cunningham, a mountain bike innovator, died at. He is credited with building what is considered the first off-road bicycle with an aluminum frame in the late 1970s.

Media and Entertainment Landscape

MGM Resorts International is in deal talks with Barry Diller’s People Inc. after the media mogul offered to acquire the portion of the casino company he does not already own. The creator of the monster Siren Head secured a lucrative deal as studios actively seek the next “Backrooms”-style hit, fueling a gold rush in Hollywood’s horror-meme market Hollywood’s Horror-Meme Gold Rush Is Minting Million