Public Markets 3 Days

Last updated: July 23, 2026, 8:30 PM ET

Oil Prices Surge Amid Geopolitical Tensions

Crude oil futures for the first time in two months, fueled by escalating Middle East conflict and fears of global supply disruptions while Asian stocks were poised for declines. Brent crude futures overnight, prompting a technical correction that in subsequent trading. The International Energy Agency due to the hostilities, and European gas prices as traders fretted over winter supplies and potential disruptions at key shipping chokepoints like the Strait of Hormuz which collectively imperil roughly a quarter of the world’s oil supply. Overseas buyers, including those in Asia and Europe, showed an uptick in demand for US crude, signaling mounting concerns over adequate supplies amid multiplying geopolitical flashpoints. The Dangote Petroleum Refinery & Petrochemicals Fze reverted to selling petroleum products in naira after a brief switch to US dollars.

Tech Sector Grapples with AI Hype and Earnings

The Magnificent Seven group of megacap technology stocks is on track for its biggest one-day drop since April 2025, as disappointing results from Alphabet and Tesla. Tesla shares have on a disappointing quarter, leading to short sellers minting an estimated $4 billion profit. Some high-profile Chinese funds are pivoting from consumer stocks to AI shares in a bet that may boost returns but also increases vulnerability to sector volatility. Intel, however, with revenue jumping 25% in the second quarter, driven by demand from AI data centers. Goldman Sachs and JPMorgan Chase & Co. launched products allowing investors to trade AI junk bonds in $250 million increments, as concerns mount over hyperscalers’ massive expenditures. Wellington Management is due to rising risks, uncertainty over property values, and falling returns.

Financial Sector Deals and Market Dynamics

HSBC will sell to Allianz for $2.1 billion, entering into a 15-year bancassurance partnership. Singapore’s sovereign-wealth fund GIC Pte over the next three years, having tripled its hedge-fund investments over the past decade. GIC also reported its, with the US remaining its top market. The $1.3 trillion US CLO market is taking its cues from Tokyo as much as Wall Street, according to a Wharton-led study. Blackstone Inc. led roughly to support the buyout of Integra Testing Services. Cellnex Telecom SA is as the wireless tower operator grapples with its debt load and weak share price. Hong Kong’s offshore yuan market, with a record pile of yuan making its way into corporate loans.

Global Economic and Political Developments

The Trump administration on over 80 nations, tied to imports of goods made with forced labor, replacing a global tariff set to expire. Brazil’s government in credit for exporters hit by new US tariffs. The WSJ Dollar Index, up five of the past six trading days. German bond yields as surging oil prices fanned inflation concerns, prompting bigger bets on interest-rate hikes. Australian employment surged in June, bolstering bets on another interest-rate increase. Indonesian stocks, on track for a bull market.

Corporate Earnings and Sector Performance

Deckers’ sales growth slowed in the first quarter, with gains for its two biggest brands moderating. Boston Beer Company as sales declined, reporting net income of $51.6 million on a 4.5% decrease in shipment volume. Edwards Lifesciences after second-quarter growth, now expecting sales between $6.6 billion and $6.9 billion. SAP logged a 9.4% rise in revenue but due to slowing growth. Union Pacific reported in the second quarter, boosted by volume growth. Texas Instruments, with profit up from $1.30 billion a year earlier. Harley-Davidson raised its forecast but remained pressured by European sales and tariffs.

Other Notable Market and Business News

The U.S. Treasury Department has expressed concern over a number of touted by Wall Street. The Port of Long Beach in California is considering the construction of a nuclear reactor to meet its growing electricity needs. Lindt & Spruengli AG over allegations of falsely promoting its efforts to combat child labor in Ghana and Ivory Coast. The literary world is abuzz with the success of "collectible concession vessels" like ‘Odyssey’ popcorn buckets, which could.