Public Markets 3 Days

Last updated: July 26, 2026, 8:30 PM ET

Oil Prices Ease Amid De-escalation in Middle East

Oil futures fell sharply in early Asian trade as concerns over supply disruptions in the Middle East began to ease. Brent crude opened lower after two weeks of escalating violence had pushed prices above $100 a barrel. Reports indicated that neither the U.S. nor Iran had launched strikes for a second consecutive day, leading to optimism about a resolution to the conflict. No strikes were reported from either side since Friday, leaving oil investors feeling more secure about energy supplies. Oil prices dropped at the week’s open after the U.S. paused strikes against Iran over the weekend, easing energy supply risks in the Middle East, though Houthi rebels claimed attacks against targets in Saudi Arabia. U.S. equity futures, however as the U.S. refrained from striking Iran for a second straight night. Crude oil on new hopes for peace talks, with markets steadying after a tumultuous week and the Dow paring weekly losses.

Corporate Dealmaking and Investment Trends

Nvidia is in talks with OpenAI to secure $250 billion in financing for a massive data center project, which would be one of the largest AI computing hubs and involve U.S. government-controlled power. Authorities are in private-credit deals connected to Mark Walter’s insurance companies to investigate potential fraud. Brown-Forman, the maker of Jack Daniel's from Sazerac, which has urged members of the Brown family to reconsider a previously rejected takeover offer. Private equity firms Carlyle and Bain Capital are competing to acquire a wealth manager in a potential $7 billion deal, driven by the recurring earnings of independent wealth management groups. In the realm of defense, major defense companies are for military startups, acting more like venture capitalists as drones and autonomous systems transform warfare.

Global Economic and Political Landscape

The Philippine economy to revive, following revelations of billions of dollars in graft involving flood-control schemes a year ago. A decade-long saga to open a new Detroit bridge to Canada is finally set to open on Monday, after trade tensions under the Trump administration nearly derailed the project. The European Union is divided over barring imports from Israeli settlements in occupied territories, reflecting internal disagreements on how to confront Israel. New Jersey has become the first state to on digital store labels, citing fears of potential surveillance. The dollar until a U.S.-Iran ceasefire is agreed upon, as investors seek haven assets amid heightened geopolitical tensions. The dollar in a month as geopolitical tensions drove investors to traditional safe havens.

Technology and Artificial Intelligence

The legal battle over prediction markets is intensifying ahead of the midterm elections, with Wisconsin regulators clashing with sites like Kalshi. Wall Street Journal Markets noted that to wager on major U.S. stocks, offering another way to bet on companies like Nvidia and SpaceX without trading shares. Big Tech earnings are facing headwinds as the market becomes wary of the high cost of AI spending. Despite the AI spending boom, U.S. tech groups have, though the broader U.S. jobs market remains steady. David Fox, who was instrumental in building Kirkland & Ellis, sees AI as the industry’s future and plans to disrupt the legal sector again. Concerns are rising about the risks of using Chinese open AI models like Kimi K3, with the primary issue being a lack of coordination to protect infrastructure from cyberattacks rather than the open-source nature itself FT Companies.

Market Watch and Investment Strategies

Bond traders are on edge as the probability of a Federal Reserve rate hike this week increases, fueled by rising oil prices due to Middle East tensions. Fitch Ratings to investment-grade status, citing strong income growth. LSEG Lipper is reviewing data on U.S. investment-grade fund flows after JPMorgan flagged a potential error in reporting significant outflows. The "Trump trade" is proving to be a loser in the stock market, as traders who bet on stocks benefiting from his economic policies are seeing disappointing returns. Commodity trading giant Vitol Group to executives and senior staff through share buybacks, despite its profits halving to $4.2 billion. U.S. banks are at the tightest valuations since the financial crisis, a situation that is unsettling experienced investors.

Automotive and Manufacturing Sectors

Volkswagen has cut its sales and delivery forecasts due to mounting challenges, now expecting deliveries to fall and sales to be flat or decline 3% this year. Saint-Gobain is pushing ahead with its U.S. expansion plans despite a sluggish housing market, aiming to more than double its North American business through capital expenditures and acquisitions. The toy industry's future, but in "magic," with the card game Magic: The Gathering experiencing booming sales and being described as a "mega franchise" by Hasbro's CEO. CATL, the world's largest battery maker driven by surging demand for energy-storage systems and resilient EV battery sales, offsetting a weaker EV market in China.

Global Trade and Geopolitics

Australian Prime Minister Anthony Albanese will press President Donald Trump on new tariffs, calling the levies unjustified. China has weathered Trump's trade war well, with the overall weighted average tariff on Chinese goods remaining largely unchanged despite threats. The U.S. economy faces threats from the Iran war and Trump's tariffs, as renewed fighting with Iran sends oil and gas prices soaring, while new global tariffs could further inflate prices. Ship insurers are restricting war coverage for Saudi Arabian cargoes in the Red Sea due to attacks from Iranian-backed Houthi rebels, which threaten further disruption to global oil supplies. Taiwan is testing its defenses against a potential Chinese siege at sea, stepping up plans to secure vital imports as Chinese government ships practice blockade maneuvers.

Energy and Commodities

Deadly storms in Chile are disrupting copper mines and raising concerns about the AI supply chain, as the metals boom relies on high-altitude mines vulnerable to increasing weather volatility. Barrick Mining Corp. safely evacuated workers stranded in northern Chile after severe storms blocked road access. Iraq will sign with Syria to build oil pipelines connecting production sites to global export markets via the Mediterranean. China is pouring funding into green energy deals, capitalizing on the increased appetite for renewables amidst the ongoing conflict in Iran. Base metals fluctuated as the threat of escalating conflict in the Middle East kept optimism in check, posing turbulence for the global economy.

Labor Markets and Economic Anxieties

Employers fear labor as many immigrants lose protected status, following a Supreme Court ruling that allows the Trump administration to end a humanitarian program for approximately one million immigrants. U.S. tech groups have despite a boom in AI spending, reshaping Silicon Valley while the broader U.S. jobs market remains stable. The franchise restaurant industry to the gig economy, reflecting a history of labor practices in fast-food establishments. A heat wave in the UK, as a World Cup boost failed to offset the impact of the extreme heat and rising costs.

Legal and Regulatory Developments

The U.S. appeals court upheld blocks on Trump's order restricting mail voting, marking another rebuke to his challenges against mail-in voting, with the administration considering a Supreme Court appeal. The FDA panel's vote on peptides about a prescribing boom, as the committee endorsed broader use in lightly regulated compounding pharmacies that have become a multibillion-dollar business. Wisconsin's warning on election bets the fight with prediction markets, as a legal battle between state regulators and sites like Kalshi heats up before the midterm elections.

Company News and Sector Performance

The maker of Buzz Ballz cocktails, Sazerac at acquiring Brown-Forman, urging the Brown family to reconsider a previous takeover offer. United Airlines last year about a potential merger, but the talks did not progress. Gatwick Airport apologized after a water shortage disrupted services, forcing many bars and restaurants to close, though flights continued to operate. BP is nearing a deal to sell its solar business, Lightsource, to a Kuwait-backed group.

Financial Markets and Investment Insights

New Zealand's dollar is set to outpace the euro on a widening rate gap, as strategists anticipate the local central bank will raise interest rates more aggressively than its European counterpart. Kioxia Holdings Corp. faces further as leveraged exchange-traded funds tracking the Japanese memory chipmaker's shares are set to list in the U.S. The U.S. stock market is experiencing a revolt over AI spending, impacting big tech earnings. European start-up The Exploration Company, with ambitions similar to SpaceX, is aiming for a $2 billion valuation and is in talks to raise $300 million for reusable space capsules. Euronext is considering establishing a private market to compete with the UK's, as bourses seek to provide investors with access to fast-growing private companies.

Consumer Trends and Products

The market for "collectible concession vessels," such as the popcorn buckets from "The Odyssey," could generate over $100 million for one chain. Kids and adults alike are squishy toys and fidget trading, with children creating, trading, and hunting for these squeezable toys. Fast fashion is taking off in India, with chains like Zudio attracting cost-conscious shoppers with affordable designs and modern stores. Pork struggling gain even amidst a protein craze, as it is cheaper than beef, which is reaching record high prices.

International Relations and Conflicts

The U.S. and Iran have paused