Public Markets 3 Hours

Last updated: July 8, 2026, 2:30 AM ET

Energy & Commodities

Crude oil futures jumped after renewed strikes in the Strait of Hormuz, raising concerns that attacks on shipping lanes could disrupt energy flows from the Middle East. Soybean oil futures, meanwhile, climbed to a three-week high as the geopolitical tensions between the U.S. and Iran spurred expectations of increased demand for biofuel feedstocks. These developments are contributing to ongoing market volatility and may force a readjustment of expectations, with Iran gloating over the price increases. London's FTSE 100 index is poised for a fall as Middle East tensions escalate.

Asia Markets & Listings

Chinese stocks in Hong Kong surged the most in 14 months as investors rotated into less-crowded market segments, with local AI model makers developing proprietary chips boosting confidence. This broader shift in Asia sees investors pulling money from chipmakers that powered earlier rallies, seeking cheaper avenues to capitalize on the artificial intelligence boom. Minor Food, the operator of Burger King restaurants, is planning a Singapore listing that could raise as much as $310 million, potentially marking one of the largest food-and-beverage IPOs in the city-state in nearly two decades. Separately, GM-backed autonomous driving company Momenta made a muted Hong Kong debut after its $751 million IPO, with shares rising 2.8% from their offering price amid investor caution on the profitability of self-driving technology.

China Economic Watch

China's benchmark sovereign bond sale saw a gauge of demand reach a record high, signaling a strong appetite for the securities. This comes as the nation faces intensifying weather extremes, with recent deadly storms in southern and central China worsened by a convergence of factors. In agricultural trade, China has extended its U.S. soybean buying spree, indicating a continued thaw in trade relations. The country faces the challenge of excess industrial capacity, with calls for reforms reminiscent of the era of former Premier Zhu Rongji to address the issue of manufacturing gluts.

Technology & AI

The rapid advancements in artificial intelligence are raising questions about their impact on human cognition, with some suggesting that immediate answers from AI may be making users dumber. In hardware, Meta is testing AI glasses with "super sensing" capabilities that could record every moment, potentially igniting new privacy debates over who gets recorded. Meanwhile, the financial markets are seeing a distinct rotation, with AI bonds being dubbed "the new gilts" by some observers, suggesting a growing investor interest in the sector beyond traditional government debt.

European & UK Markets

Private jet operators are on alert for potential fuel shortages this summer, as suppliers may prioritize airlines if supplies run short. In the UK, the London Stock Exchange is experiencing a significant IPO drought, with the value of bids for listed companies outstripping new listings by 27 to 1. Nest, a major UK pension fund, plans a £1 billion venture capital push for savers, reflecting a broader push to increase allocations to private markets among UK pension funds. Shipping companies will face higher EU carbon fees as Brussels moves to close an emissions loophole, a move that could create tensions with trading partners.

US Markets & Policy

The U.S. Department of Defense is actively buying lithium for its strategic stockpiles as the nation seeks to reduce supply risks for critical minerals. In the dealmaking arena, a boom in U.S. mergers and acquisitions has fueled a payday for merger arbitrage, creating opportunities for hedge funds that correctly wager on the outcomes of large transactions amid deal uncertainty. The U.S. dollar is expected to remain rangebound against the Chinese yuan in the near term, according to analysts at Goldman Sachs.