Public Markets 3 Days

Last updated: July 26, 2026, 5:30 AM ET

Geopolitical Tensions and Market Volatility

Oil prices amid escalating conflict in the Middle East and Ukraine's strikes on Russian infrastructure. Tankers continued to traverse the Red Sea despite Houthi blockades, though scattered disruptions sowed uncertainty. Saudi Arabia against Iran-backed rebels targeting energy sites, raising concerns of a wider regional war. A Hong Kong-flagged supertanker executed a U-turn before reaching the Bab el-Mandeb chokepoint, underscoring the heightened risks. Ship insurers for Saudi Arabian cargoes in the Red Sea due to threats from Houthi rebels, potentially further disrupting global oil supplies. India flagged an attack on an LPG tanker in Iranian waters, though the crew was reported safe. Iraq and Syria linking production sites to Mediterranean export markets, potentially easing some supply concerns. The dollar remained strong and was expected to stay that way until a U.S.-Iran ceasefire is agreed upon. Developing countries like India and South Africa are leading a push to amass emergency fuel stockpiles due to rationing experiences during the Middle East conflict. U.S. natural gas futures despite a weekly inventory build at the low end of market estimates.

AI and Technology Sector Dynamics

Investors are to bypass Chinese controls on AI stocks, employing perpetual futures to circumvent restrictions on foreign access to China’s equity market. Defense giants are for military start-ups, with drones and autonomous systems transforming the battlefield, prompting traditional defense companies to adopt venture capitalist-like strategies. Intel posted fastest in 15 years, with revenue jumping 25% in the second quarter, fueled by demand from AI data centers. Corporate America is on AI, as companies mix models, altering industry economics and power dynamics. Silicon Valley is divided over restricting Chinese AI open-source models, with Anthropic and OpenAI clashing with other tech firms. Apple seeks clearance to purchase semiconductors from a blacklisted Chinese company amidst surging AI demand. Data center debt poses risks due to uncertainty over property values and declining returns, according to Wellington Management. SLB reported driven by increased offshore activity and strong demand from its data-center business, offsetting disruptions. Brooks Automation, a PE-backed robotics firm, is reportedly weighing an IPO.

Economic Trends and Corporate Performance

Europe’s stock market rally in years, a deviation from its historical resilience to stock-specific shocks. Malaysia raised $1.5 in its first dollar bond sale in five years to fund rising fuel subsidy costs. China’s central bank in five months via its medium-term lending facility to support growth. Volkswagen sales delivery due to mounting challenges, now expecting deliveries to fall and sales to be flat or decline 3%. Dow Inc. swung to a profit on higher prices and growing sales, posting a net income of $802 million compared to a loss in the prior year. Deckers’ sales growth slowed in the first quarter for its two largest brands. Booz Allen Hamilton and cost-cutting efforts boosting business, leading to higher-than-expected profits. BP is nearing a deal to sell its solar business, Lightsource, to a Kuwait-backed group. Euronext is considering establishing a private market to compete with the UK's, as bourses seek to offer investors access to fast-growing companies.

Supply Chain and Industrial Activity

Deadly storms in Chile and raised concerns about AI supply chains, highlighting the vulnerability of high-altitude mines to weather volatility. Barrick Mining Corp. evacuated workers stranded in Chile after severe storms blocked road access. Airbus and Boeing are pushing to boost production to address record order backlogs and overcome supply-chain issues. Humanoid, a British company as the continent industrializes. Britain’s AI minister will be central to the nation’s reindustrialization efforts. Indonesia arrested its former top graft prosecutor on suspicion of money laundering after raids uncovered significant amounts of gold and cash. Reckitt will take from the sale of its Russian hygiene business.

Political Landscape and Trade

Australian Prime Minister Anthony Albanese on new tariffs, describing them as unjustified. Small businesses are suing the Trump administration over recent tariffs, with legal challenges previously successful against the president's duties. China has emerged in a strong position after Trump's trade war, with overall tariffs remaining largely unchanged. The EU in a test of Trump's threats to protect Big Tech, with the bloc asserting its duty to defend the rule of law. Malaysia sold its first dollar bonds in five years to bolster funding amid rising fuel subsidy bills.

Social and Environmental Issues

A review sparked by an FT investigation found that lead pollution, with animals near ex-mining sites exhibiting high metal concentrations. Wildfires in France and Spain. An Ebola outbreak in eastern Congo has halted life on a busy border, with the virus taking its name from a Ugandan town that had previously beaten back an outbreak. A suspect at a Berlin Pride event in a suspected terror attack, killing one person and injuring. Lead pollution from ex-mining sites in animals.