Public Markets 3 Hours

Last updated: July 22, 2026, 8:30 PM ET

Oil Prices Surge Amid Middle East Tensions

Oil prices climbed sharply in late trading, with Brent crude approaching $95 a barrel after Iran-backed Houthi rebels claimed responsibility for targeting two Saudi Arabian tankers in the Red Sea. The attacks and raised concerns about deeper supply disruptions. Gold, however, held its gains as dip-buying countered inflation fears stoked by the hostilities, despite oil prices reaching multi-week highs.

Tech Giants Report Mixed Earnings, AI Dominates

Alphabet quadrupled its profit to $112 billion, fueled by significant investments in artificial intelligence and growth across its businesses, particularly cloud computing. In contrast, Tesla in after-hours trading as earnings missed estimates, with the electric automaker’s $5.8 billion in spending turning cash flow negative despite a revenue surge. IBM, meanwhile as sales of its data-center mainframes sank 42%, though the CEO highlighted the company's AI positioning.

Market Infrastructure and Regulatory Shifts

Nasdaq Inc. will implement to expedite the delisting of struggling companies, as regulators focus on market volatility and alleged manipulation. Wall Street banks have of a $35 billion financing package for Broadcom Inc. and Anthropic PBC’s AI infrastructure expansion, involving significant private credit. The 2-year Treasury yield in over a year, following a broader selloff in government bonds that pushed the 10-year Treasury yield close to its 2026 high.

Corporate Dealmaking and Investment Trends

Canadian National Railway reached a deal with Union Pacific to gain expanded access in the Midwest, ending its opposition to Union Pacific’s $71.5 billion merger. Uber founder Travis Kalanick for a new startup, with Andreessen Horowitz and the ride-hailing group participating in the funding round. Hong Kong’s offshore yuan market, with a record amount of yuan being used for corporate loans and driving capital market activity.

Policy and Geopolitical Developments

The U.S. and Saudi Arabia, though critics have raised concerns about safeguards against future uranium enrichment and reprocessing. The Clarity Act, a significant bill for the crypto industry, faces debate over whether to bar the President from selling cryptocurrency as it moves toward a Senate vote. The House of Representatives for the Iran war, though its prospects in the Senate remain uncertain.