Public Markets 3h Briefing
×Last updated: July 22, 2026, 8:30 PM ET
Oil Prices Surge Amid Middle East Tensions
Oil prices climbed sharply bloomberg.com 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 bloomberg.com 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 nytimes.com to $112 billion, fueled by significant investments in artificial intelligence and growth across its businesses, particularly cloud computing. In contrast, Tesla wsj.com 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 wsj.com 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 bloomberg.com to expedite the delisting of struggling companies, as regulators focus on market volatility and alleged manipulation. Wall Street banks have bloomberg.com 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 wsj.com in over a year, following a broader selloff in government bonds that pushed the 10-year Treasury yield close to its 2026 high wsj.com.
Corporate Dealmaking and Investment Trends
Canadian National Railway reached a deal wsj.com 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 ft.com 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 ft.com, 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 nytimes.com for the Iran war, though its prospects in the Senate remain uncertain.