Public Markets 3 Hours

Last updated: July 30, 2026, 2:30 PM ET

Tech and AI Markets Surge Amidst Economic Uncertainty

Microsoft Corp. is on track to record the largest one-day increase in market value for any stock in history, with a $490 billion pop. U.S. stocks leaped higher amid inflation fears, with the Nasdaq composite gaining about 2% as chip stocks rebound. In the AI sector, the hedge fund Situational Awareness was rescued by rival Citadel following steep losses. Separately, finalized deal to buy Situational Awareness's equity holdings after crunch talks with investors.

Corporate Earnings and Dealmaking in Focus

Crocs Inc. raised full-year but provided a dim near-term view, causing shares to fall despite increased sales and profit expectations. Xerox Holdings Corp. sold tariff at a discount to raise cash and reduce its debt load as it faces significant maturities. GE Health Care reported revenue of $5.3 billion and strong demand. Universal Music logged a 13% year-over-year revenue increase to $3.77 billion, driven by subscriptions and streaming growth driven by subscriptions.

Automotive and Defense Sectors Show Strength

Italy's defense contractor Leonardo lifted its guidance to roughly €28.2 billion in expected orders for the year, up from prior guidance of about €25 billion. The auto and transport sector saw movement with insights on Ferrari and Stellantis in the latest market talks.

Energy Markets React to Geopolitical Tensions

A global diesel shortage on Russian refineries and lower Chinese refinery runs, has kept prices rising. U.S. natural gas futures turned higher as inventories increased by less than expected last week. Saudi Arabia's quarterly fiscal deficit, benefiting from a spike in global oil prices.

Monetary Policy and Investor Sentiment

The yield on government bonds remained elevated on concerns about the Federal Reserve’s inflation containment efforts, with investors warning that the Fed's lack of guidance on interest rates erodes its influence. Gold prices ticked higher after the Fed's decision to leave rates unchanged, with analysts suggesting this gives investors confidence to re-embrace the precious metal.

Financing and Investment Activity

Banks are reportedly in talks to lend $15 billion for an Anthropic data center in Texas, with Google's guarantees. Ontario Municipal Employees Retirement System hired a new executive to lead its private equity funds business as it expands its strategy.

Initial Public Offerings and Market Debuts

Jersey Mike’s Subs Inc. shares slumped 8.7% in their trading debut after raising $1 billion in its U.S. initial public offering. Womenswear firm Reformation Inc. opened flat at its IPO price after raising $210.9 million in its listing.

Political and Legal Developments

Elon Musk is planning to spend at least $100 million in midterm elections to aid Republicans. Democrats continue to force votes on President Trump’s war powers regarding Iran. A dormant tribunal for terror cases is hearing its first case.