Public Markets 3 Hours

Last updated: July 31, 2026, 5:30 AM ET

Tech Stocks Rally on AI Optimism and Citadel Support

U.S. stock futures climbed higher as optimism surrounding artificial intelligence continued, also propelling the Kospi to its largest daily gain on record in Korea. European technology stocks similarly rallied, with Nasdaq futures showing gains even as Apple faced a selloff. Amazon surged 10% in premarket trading, contributing to the broader rebound. A significant deal by Citadel’s Ken Griffin with embattled hedge fund Situational Awareness in global AI stocks, leading to debate among traders about whether the market turbulence has subsided.

UK Retail and Banking Sectors Show Mixed Fortunes

Nat West reported strong of £2.3bn, exceeding analyst forecasts, buoyed by its retail and wealth management divisions. The lender also raised its guidance and accelerated share-buyback plans, posting a 29% increase in pretax profit following its acquisition of Evelyn Partners. In the retail sector, J Sainsbury Plc for at least £120 million to Swift Partners, a new entity backed by retailers including former Co-op boss Richard Pennycook. This marks Sainsbury's second attempt to offload the general merchandise chain as it refocuses on its core food business. Puma, however on weak demand, with currency-adjusted sales dropping 9.4%, though the sportswear group reiterated its full-year guidance as it pursues its turnaround strategy.

Airlines Navigate Geopolitical Tensions and Capacity Adjustments

British Airways seeking to avoid the Middle East, but its owner, International Airlines Group (IAG), citing soaring fuel prices and the conflict in Iran. IAG has amid these challenges, forcing the airline group to reduce capacity. Meanwhile, BP its U.K. North Sea business, potentially ending its oil production in the country after six decades.

Private Credit and Insurance Sectors Deepen Entanglement

Private equity has significantly reshaped the life insurance industry, with insurers quietly becoming a major force behind the private credit boom. Numerous private equity firms are striking deals with insurance companies or acquiring them outright, creating a complex entanglement that is being closely watched by market participants. The article notes that the "dark arts of securitisation" are not actually magic, hinting at the intricate financial engineering involved.