Public Markets 3 Days

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

Geopolitical Tensions and Market Ripples

Global markets are bracing for continued volatility as tensions rise in the Strait of Hormuz, a critical chokepoint for oil shipments. Iran has rushed out approximately 11 million barrels of crude in a single day amid escalating tensions with the U.S. Rushes Out , while shippers face a deepening dilemma as the U.S. and Iran vie for control of the waterway, with one executive stating, “Things are becoming uglier by the minute.” Shippers Face Qatar has paused efforts to ramp up liquefied natural gas production following an attack on one of its tankers in the Strait, raising fears about transit security. Qatar Pauses The conflict has also impacted commodity prices, with wheat prices jumping as Ukraine's attacks on Russia are seen as an export risk. Wheat Soars Meanwhile, China has instructed some major refiners to maintain high fuel production, aiming to shield domestic consumers from potential supply disruptions. Tells Refiners Refined fuels, in particular, are presenting a tight market even as crude prices ease, creating a divergence that is increasing costs for consumers. Fuel Prices

US Politics and Media Scrutiny

The U.S. political landscape is marked by increased scrutiny of media operations and ongoing debates over key social issues. The Trump administration has subpoenaed New York Times reporters following reporting on security concerns related to the Air Force One jet, a move the Times has decried as a “brazen act.” Trump Administration The Justice Department is seeking to compel testimony from reporters who detailed the jet's security issues, with the FBI director spending significant time at the White House focused on this effort. White House In Kansas, Republicans are pushing a referendum for voters to elect Supreme Court justices, a move seen as targeting the court's appointed justices’ support for abortion rights. Kansans Will Separately, Representative Ro Khanna encountered resistance from Israeli settlers in the West Bank, being barred from leaving for 90 minutes. American Politician The political sphere is also grappling with the fallout from candidate Graham Platner's withdrawal from the Maine Senate race following a rape allegation, which has revived discussions about the "Bernie Bros" movement. Platner’s Rise

Corporate Earnings, AI, and Market Trends

Corporate earnings are poised to be a significant test for stock market bulls, with Wall Street anticipating a near-record season. Stocks Priced While AI has rewarded investors, it may also represent their greatest risk, as the global stock market has become highly concentrated. A.I. Rewarded Companies that have pivoted to AI branding have largely failed to sustain valuation gains, an FT analysis shows. How AI Palantir’s CEO is voicing corporate America's anxieties about the growing power of AI upstarts. Alex Karp Meanwhile, the chip industry faces headwinds despite the AI boom, with market sentiment suggesting a potential end to the boom-bust cycle in memory chips. Chips Down In the automotive sector, Volkswagen's troubles are increasingly linked to fierce competition from Chinese automakers globally. Volkswagen’s Troubles Easy Jet is seeing private equity firms engage in deals, though the volatile airline business rarely attracts such attention. EasyJet Private Apollo Global Management is on track for a record year of acquisitions, even as many private equity peers struggle to deploy capital. Apollo Approaches

Economic Data and Central Bank Watch

Upcoming testimony from Federal Reserve Chairman Kevin Warsh before Congress will be closely watched, especially with new U.S. inflation data set to be released. US Inflation Traders are beginning to hedge for a return of foreign exchange volatility as uncertainty builds around the Fed's next moves, with banks warning of shifting expectations and geopolitical tensions. Traders Hedge European earnings momentum is showing unusual strength, with analysts raising estimates at the fastest pace in years. Europe’s Earnings The Bank of France has raised its short-term growth estimate, indicating the economy is poised to avoid recession. France Seen In the U.S., an auction of 30-year Treasury bonds drew the highest yield since 2007, reflecting increased investor demand for higher returns amid growing bond supply. US 30-Year The yuan advanced after China's central bank set the daily reference rate below 6.80 per dollar for the first time since 2023, signaling comfort with the currency's strength. Yuan Gains

Sector-Specific Developments and Deals

The energy sector is experiencing a tightening diesel supply crunch due to Ukraine's drone strikes on Russian refineries. faces growing China's nationwide electricity load hit a record high for the year on July 10, driven by demand from data centers and electric vehicles. China Power Holtec Nuclear Corp. has filed for a U.S. initial public offering, aiming to capitalize on the increasing power demands of data centers. Services Firm Tera Wulf Inc. is preparing to raise approximately $3.5 billion in debt to construct a data center campus. TeraWulf Eyes Kazakhstan billionaire Timur Turlov’s Freedom Holding Corp. raised $300 million in a share sale to fund its international expansion. Kazakh Tycoon MGM Resorts International is reportedly in deal talks with Barry Diller’s People Inc. Resorts Engaged Investors are showing renewed interest in tobacco stocks as companies shift away from cigarettes. Tobacco Stocks Jersey Mike's IPO is being viewed as a test of appetite for the restaurant sector amid concerns about consumer spending. Mike’s IPO Apple has filed a lawsuit against OpenAI, alleging the theft of proprietary information for AI model development. sues OpenAI

Immigration, Law Enforcement, and Social Issues

The shooting death of Lorenzo Salgado Araujo by an ICE agent in Houston has prompted calls for accountability and further investigation, with witnesses disputing the official account of events. Witnesses ICE Mexico plans to file criminal complaints in the U.S. regarding the incident. Mexico File The shooting occurred amid a broader ramp-up in immigration enforcement across the country, with thousands of arrests daily. Killing Houston U.S. employers are facing confusion and potential dismissals of thousands of immigrant workers as deadlines for Temporary Protected Status loom. Employers Told The nation is also facing a looming tick nightmare, with experts suggesting a need for a more aggressive fight against the pests. We’re Living Discussions around mental health are evolving, with concerns that changing terminology could mislead policymakers and harm those in need. What’s really The U.S. has also approved a test of a space mirror to illuminate the night sky, despite public outcry. Approves Test