Public Markets 3 Hours

Last updated: July 8, 2026, 5:30 AM ET

Energy & Geopolitics

Oil prices climbed sharply amid renewed fears of supply disruptions as the U.S. and Iran exchanged strikes, pushing crude to levels not seen since June's memorandum of understanding. This escalation also drove yields on 10-year U.S. and German government bonds to four-week highs as inflation fears reignited. European natural gas prices surged past €48/MWh, adding to supply concerns ahead of winter. In response to rising geopolitical volatility, private debt placements from the Middle East are experiencing a surge.

China's oil refiners have received increased permits for exports of gasoline, diesel, and jet fuel this month, marking a significant easing of previous restrictions. Meanwhile, Turkish defense contractor Aselsan reported that foreign orders have doubled in the past year, fueled by demand from ongoing conflicts.

Public Markets & Valuations

Global stocks remained under pressure as Middle East tensions flared. Investors are parsing the latest Federal Reserve minutes for clues on the trajectory of interest rates. The euro faced renewed selling pressure as climbing crude oil prices tested its recent rebound.

Nvidia Corp. shares have shed roughly $1 trillion in market value in under two months, bringing the stock to its cheapest valuation since before the artificial intelligence boom. In a contrasting development, AI chip startup Samba Nova Systems Inc. secured $1 billion in funding at