Public Markets 3 Hours

Last updated: July 7, 2026, 8:30 AM ET

Public Markets Overview

Technology stocks resumed their decline in pre-market trading as Samsung Electronics missed AI expectations, dampening sentiment for chipmakers globally. This follows a period where tech volatility has reached levels not seen since the dot-com era highest since dot-com bust, even as the Magnificent Seven group of giants lost market dominance. The AI trade is now spreading beyond behemoths, but broader productivity gains from artificial intelligence are still considered years away by analysts like Deutsche Bank's Jim Reid AI productivity gains years away.

Energy and Commodities

Crude oil futures eased in early trading following an incident where a Saudi-flagged tanker sustained damage in the Strait of Hormuz sustained damage Hormuz. Simultaneously, Iraq has boosted output from southern fields to full capacity amid increased export demand. In European waters, Fincantieri CEO highlighted the growing threat of hybrid warfare to underwater cables and energy infrastructure hybrid warfare threat.

Treasuries and Rates

U.S. Treasury yields ticked higher as geopolitical tensions in the Middle East intensified, with markets also awaiting the Federal Reserve's June meeting minutes. The Bank of England is planning to ease bank capital rules, a move intended to encourage lending and potentially stabilize financial markets during crises. Value investing, which had seen a resurgence, is currently being viewed by some as a temporary market anomaly value investing comeback quirk.

Corporate & Market Movers

SpaceX received bullish recommendations from Wall Street banks, with Morgan Stanley setting a $300 price target as its quiet period concludes post-IPO. Chinese electric vehicle manufacturers face scrutiny in Western markets, with consumers in Finland questioning the cars' potential for surveillance and data collection trust barrier for Chinese EVs. France has revised its 2026 GDP forecast downwards to 0.7% due to budget delays and the impact of the Middle East conflict France cuts GDP forecast. Meanwhile, Chilean copper giant Codelco is grappling with $25 billion in debt and operational challenges amidst soaring global demand for copper driven by AI infrastructure copper miner faces reckoning.