Public Markets 3 Hours

Last updated: July 15, 2026, 5:30 AM ET

Markets Embrace Lower Inflation, Dollar Dips

U.S. stock futures climbed Wednesday as markets dialed back U.S. rate-hike expectations following an unexpectedly upbeat inflation print. The dollar remained weaker after lower-than-forecast U.S. inflation data dampened expectations for a Federal Reserve rate hike. Asian stocks also gained on the softer U.S. inflation reading. Gold, however, slipped after climbing more than 2% in the previous session as investors balanced the softer inflation print against risks stemming from higher energy prices.

Energy Prices Surge on Renewed Iran Blockade

Oil prices rose, with Brent crude trading just shy of $86 a barrel after the U.S. reinstated its naval blockade on Iran. The renewed blockade boosted sentiment for risk assets, though the impact on oil prices is being watched closely given lower global oil reserves and heightened shipping risks. U.S. naval blockades on Iran have previously choked off exports without causing a lasting price surge, but the current geopolitical climate presents different risks.

Corporate Earnings and Outlooks Show Mixed Signals

Luxury goods group Richemont, driven by robust jewelry demand, achieving consecutive quarters of double-digit growth. In the semiconductor sector, ASML raised its forecasts, with shares climbing 7% as the Dutch company struck a bullish tone on the durability of the artificial intelligence boom. Conversely, IBM's share price plunged, signaling a potential warning to the broader IT sector as AI demand begins to crowd out other forms of spending. Housebuilder Barratt Developments after investor pressure and reported a pretax profit increase for the fiscal year, citing higher house sales and prices. Mining company Antofagasta backed its guidance on expectations of higher copper output in the remainder of the year, though second-quarter copper production held broadly steady.

UK Utility Faces Liquidity Concerns

Thames Water, stating it can survive for the next 12 months but cautioning that liquidity may fall short before a recapitalization. Meanwhile, in a move that could impact housing markets, the U.S. House of Representatives, though the bill's fate remains uncertain in the Senate.