Public Markets 3 Days

Last updated: July 28, 2026, 11:30 AM ET

Energy Markets Digest

Oil futures following a pause in U.S. strikes against Iran, with both sides holding off on attacks and easing supply concerns. Tanker traffic around the Strait of Hormuz also saw optimism for resumption, boosting Treasuries. U.S. natural gas futures continued to fall, as traders focused on robust production and abundant inventories despite summer heat. Meanwhile, refining margins remained near a record, prompting processors to prioritize diesel fuel over gasoline, leading to a global diesel squeeze. Satellite images showing smoke at Saudi oil sites kept traders on edge, though data offered few clues about production impacts according to traders.

Tech Sector Volatility and Outlook

Chip stocks, weighing on the Nasdaq 100 and pushing it toward correction territory. Worries about the eventual payoffs from artificial intelligence investments sour sentiment in technology giants, with some analysts suggesting that big tech stocks are pricing in an unrealistic level of cost efficiencies according to analysts. While some software stocks in India are set for record outperformance over global chipmakers, signaling a shift away from AI trades. GAM’s Paul Markham noted that the chip selloff is not yet a buying opportunity due to crowded investor positioning according to GAM.

Corporate Earnings and Strategic Shifts

Boeing reported a larger-than-expected loss, primarily due to a $280 million hit on the troubled Air Force One program and delays in presidential plane deliveries according to Boeing. Royal Caribbean Group, citing geopolitical uncertainty that moderated bookings, a sentiment echoed by a “modest” impact on bookings from geopolitical turmoil. Coca-Cola, however, raised its outlook, successfully navigating consumer caution with better concentrate sales and pricing. In the payments sector, Visa is slashing 2,600 jobs, about 7% of its workforce, as it adapts to industry changes according to Visa.

Global Dealmaking and Financial Markets

Ghana has earmarked $429 million to finance gold purchases to boost its foreign-exchange reserves, shifting the program from the central bank to the government according to Ghana. Borrowers from the United Arab Emirates are tapping global bond markets at a record pace, with sales up a third year-over-year as the Middle East conflict continues according to UAE. In the UK, Barclays saw its quarterly earnings rise 31% to £3.3 billion, boosted by market volatility gains, though its shares sold off according to Barclays. Separately, fund managers including Invesco and Rathbones have soured on UK government debt amid worries about inflation and political instability.

Automotive and Industrial Sector News

Mercedes-Benz cut annual amid a slump in the Chinese market, joining other German automakers in warning of a tougher environment. The FAA flagged a quality issue affecting seats on hundreds of Boeing MAX jets, noting incorrect installation in their tracks according to the FAA. Meanwhile, Philip Morris International opened a $1.2 billion manufacturing campus in Colorado to expand its Zyn brand and meet demand for nicotine pouches.

Geopolitical Tensions and Market Impact

The conflict in the Middle East continued to influence markets, with oil prices sinking after the U.S. and Iran paused fighting for a second day, leading to optimism about a resolution according to reports. This pause in hostilities also helped shield European bourses and currencies from broader sell-offs, though Asian tech slides pushed emerging-market stocks to a three-month low. Italy approved a temporary tax cut on diesel fuel through Aug. 6 to cushion the impact of surging energy prices following the widening of the conflict in the Middle East according to Italy.