Public Markets 3 Hours

Last updated: July 12, 2026, 2:30 AM ET

Middle East Tensions Escalate

Iran declared the Strait of Hormuz closed after an attack on a commercial vessel transiting the waterway. A crew member is missing from the ship. The move escalates tensions in the region, with potential implications for global oil supply routes.

Tech and Pharma Developments

The European Union is preparing to for consumer protection failures, with justice commissioner Michael McGrath aiming to bolster social media safeguards. Meanwhile, the UK has launched a national dementia registry, a move intended to improve clinical trial access and boost life sciences investment. AstraZeneca CEO Pascal Soriot expressed confidence in continued growth, despite acknowledging the eventual biological limits of his tenure while focusing on China and US markets. In quantum computing, the development of a truly "fault tolerant" machine remains distant.

Market and Corporate Moves

China's regulators are to limit top-tier credit ratings for corporate bonds, signaling a crackdown on high-interest borrowers. This comes as large private equity firms are, a trend that could lead to a wave of "zombie firms" among the shrinking number of recipients. Airbnb is reportedly benefiting from following a marketing push around the World Cup. US states like Pennsylvania and Oklahoma are exploring ways to repurpose abandoned oil wells, turning a costly environmental issue into a potential new opportunity.