Public Markets 3 Hours

Last updated: July 30, 2026, 5:30 PM ET

Tech and Crypto Stocks See Mixed Fortunes as Earnings Season Continues

Coinbase Global Inc. swung to a loss in the second quarter, reporting revenue that fell 19% to $1.22 billion and missing analyst estimates, while also posting a third consecutive quarterly decline in revenue. The cryptocurrency exchange's performance highlights pressure on even diversified players from a cooling crypto market. Separately, Strategy Inc. reported a loss of $8.22 billion, or $24.45 a share, a significant drop from a profit of $10.02 billion the year prior, as Bitcoin prices declined. Michael Saylor's company as investors await a market rebound. Meanwhile, AI stocks staged a rebound following Microsoft's robust earnings report, which saw U.S. stocks rally, with the Nasdaq jumping 2.8% U.S. Stocks. Apple also with strong iPhone sales, as smartphone revenue rose more than a fifth while rivals struggled. Amazon shares surged higher after its cloud business grew 37%, with capital expenditure climbing to $53 billion in the quarter ending in June. Reddit Inc. posted higher of $253 million on continued user growth boosting advertising revenue, though shares fell after it projected strong current-quarter revenue but failed to announce new AI deals.

Used Car Dealer and Medical Tech Firm Report Divergent Results

Carvana Co. shares sank on Thursday, creating a potential windfall for bearish investors after the online used-car dealer missed profit expectations. In contrast, medical technology company Stryker Corp. logged higher, reporting a profit of $1.28 billion and indicating progress in recovering from a March cyberattack.

Energy Markets React to Geopolitical Tensions and Supply Dynamics

Oil futures after the U.S. retaliated against Iran for an attack on its bases in Jordan, while prices wobbled amid concerns of wider conflict in the Middle East. U.S. natural gas futures rose with September contracts becoming the new front month, supported by storage data. U.S. refiners are seeing billions in profits from a global fuel crunch, running at full capacity to meet tight supplies exacerbated by refinery closures and geopolitical events. Separately, shale pioneer Harold Hamm his footprint in Argentina’s Vaca Muerta oil basin, which is experiencing the world's fastest-growing shale boom.

Treasury Yields and Currency Markets Show Mixed Signals

Treasury yields were mixed as markets received mixed signals from Federal Reserve remarks, coinciding with escalating U.S.-Iran tensions. Bolivia's central bank plans to to stabilize its foreign exchange rate after the currency sank 22% since adopting a flexible FX regime a month ago. Meanwhile, the weak yen is offering Toyota Motor Corp. an earnings respite from tariffs and war, despite creating headaches for Japanese policymakers.

Private Credit Sees Record Defaults Amid Shifting Investment Strategies

The default rate across 1,300 U.S. private debt borrowers tracked by Fitch Ratings in the second quarter. In response, Blue Owl is leaning into real assets to buffer private-credit woes, with its real assets segment eclipsing credit in fundraising during the second quarter, while investor withdrawals from lending vehicles eased.

Consumer IPO Market Remains Cautious

The market appetite for consumer sector IPOs, facing pressures from inflation and cautious investor sentiment, was tested by offerings from Reformation and Jersey Mike's, which failed to excite IPO investors.

Other Notable Developments

Churchill Downs Inc. shares tumbled nearly to a six-year low following announcements of plans to sell nine regional casinos and retain focus on its horseracing properties.