Public Markets 3h Briefing
×Last updated: July 22, 2026, 5:30 AM ET
Commodities Surge Amid Geopolitical Tensions
Oil prices ft.com, with Brent crude topping $94 a barrel ft.com. Goldman Sachs warned Brent crude could jump to $120 if the Strait of Hormuz remains disrupted wsj.com. Stock futures wsj.com as oil approached $95. Investment funds bloomberg.com on European natural gas by the most since the start of the Iran war, signaling conviction that prices still have room to rise. Gold futures wsj.com on dip buying as investors weighed Middle East risks and awaited the Federal Reserve’s meeting.
Tech Slumps Ahead of Earnings, Equities Mixed
U.S. stock futures wsj.com ahead of key big tech earnings. European equities wsj.com as a rally in technology stocks stuttered. Investors are looking for Alphabet Inc.’s earnings to show strong growth in its cloud-computing business, which would demonstrate a clear return on the company’s AI investments as spending soars bloomberg.com.
Corporate Dealmaking and Financials
Airbus shares wsj.com after the group signaled a significant boost to midterm profitability. Maharashtra State Electricity Distribution Co. has shortlisted six investment banks for a planned initial public offering that could raise up to $1 billion bloomberg.com. Investment fund TPG Angelo Gordon Inc. plans to sell a Tokyo hotel bloomberg.com to Japan Hotel REIT Investment Co. for $860 million amid a tourism boom. Kloeckner views Worthington’s wsj.com but stopped short of recommending acceptance.
UK Economy and Currency Under Pressure
Sterling faced volatility wsj.com but rose against a softer dollar. The yen’s weakness has become a growing issue bloomberg.com for Japan’s policymakers, driving up import prices and household costs. Eurozone government bond yields wsj.com as oil prices increased, while lower-than-expected UK inflation had little immediate impact. Pub chain Wetherspoons ft.com this year, citing weak sales and cost rises. Santander’s net income rose 3% ft.com despite €250 million in TSB restructuring costs.
Other Notable Developments
Fresnillo’s gold and silver production wsj.com, though the miner backed its full-year guidance. Lloyd's stated ex-CEO John Neal’s behavior fell "significantly below the standards expected" by failing to disclose a close relationship with an employee bloomberg.com.