Public Markets 3 Hours

Last updated: July 13, 2026, 8:30 PM ET

Energy Markets and Geopolitical Tensions

Oil held its gains as increased tensions between the US and Iran. A potential 20% charge on goods moving through the Strait of Hormuz, as proposed by Donald Trump and has caused concern among carriers. This follows an intensification of the standoff, with Trump vowing to restart blockades and tolls, effectively collapsing a cease-fire.

Asian Markets and IPO Activity

Shein's valuation faces pressure from slowing business growth, despite securing long-awaited Chinese regulatory approval for its Hong Kong listing. Meanwhile, India's large-cap stocks are poised for a rebound driven by returning foreign investors, an improving earnings outlook, and attractive valuations. In Canada, the pace of new listings is accelerating, with gold miners filing for initial public offerings. Investors, however, are on Asia's chipmakers.

Corporate and Financial Restructuring

Private equity is exploring the sale of its stake in Rawlings, the 139-year-old baseball gear maker. In Brazil is preparing to file for an out-of-court debt restructuring. Separately, Citigroup's CEO Jane Fraser is undertaking a "ruthless remake" of the financial institution.

US Policy and Legal Developments

A judge denounced a lawsuit filed by Trump against the IRS as an improper exercise in self-dealing, recommending disciplinary action against the lawyers involved. In a shift from Biden's prior decision, the EPA under Trump proposed to approve Alabama's application to take over issuing certain coal waste permits. Environmental groups and Native American tribes are expected to challenge Trump's move to shrink the Bears Ears and Grand Staircase-Escalante National Monuments in Utah.

Public Health and Radicalization Concerns

Health officials in Michigan have identified a "potential source" for a Cyclospora outbreak that has sickened thousands across the US and is on track to become the largest in recent history. Separately, the New York Times highlighted the "ridiculous rise" of Victor Marx, noting that voter radicalization is difficult to modulate once it begins. The article also mentioned a fatal shooting involving an Immigration and Customs Enforcement agent, the second such incident in a week.