Public Markets 3 Hours

Last updated: August 5, 2026, 8:32 PM ET

Global Markets and Economic Outlook

Asian stocks are poised to ease Thursday as investors digested gains in technology shares while watching for fresh signs of progress toward a deal to reopen the Strait of Hormuz. Oil declined in early Asian trade amid growing optimism over the reopening of the Strait of Hormuz. Global bond and currency investors are debating if it’s time to dust off last year’s ‘Sell America’ trade after a flurry of economic-policy decisions out of Washington over the past two weeks. The Treasury Secretary made the case that the K-shaped economy no longer exists, despite data to the contrary.

Corporate Earnings and Performance

App Lovin said its profit and revenue growth continued in the latest quarter, but the advertising company noted the results weren’t quite up to par with its standards. DBS Group Ltd. reported second-quarter profit that beat expectations, powered by a surge in wealth-led fee income, and raised its 2026 guidance. News Corp reported revenue rises across all its segments, with digital-only subscriptions to The Wall Street Journal averaging nearly 4.5 million in the quarter, compared to 4.33 million in the prior quarter. Etsy announced it will cut 12% of its workforce as the CEO focuses on the core marketplace, with the cuts not driven by cost-cutting initiatives or artificial intelligence.

Financial Industry Developments

A former executive alleged JPMorgan improperly denied reimbursements of more than $100 million to customers who were victims of financial scams, prompting prosecutors to probe whistleblower claims. Liechtenstein’s LGT a private bank owned by the Princely House of Liechtenstein, is looking to expand in Japan, betting it can capture a share of the rising wealth in a market that has historically proved difficult for foreign institutions. A spate of well-known hedge funds reported steep losses in July as AI shares tumbled, most notably forcing the highly leveraged Situational Awareness to sell most of its stock portfolio at a deep discount. The technology trade may be poised to become even more dependent on retail investors and more volatile after a rough July, according to an assessment of preliminary data on technology, media and telecommunications.

Political and Geopolitical Factors

Dr. Anthony Fauci invoked his Constitutional right under the Fifth Amendment in refusing to answer questions from a Senate committee, though Republicans contend he is ineligible for that protection. The pro-Israel organization AIPAC spent $32 million in an unsuccessful effort to defeat Abdul El-Sayed in Michigan’s Democratic Senate primary and is weighing a second effort in the general election. Mayor Zohran Mamdani of New York stated that Dr. Abdul El-Sayed’s close victory in the Michigan Senate primary put “working-class Americans back at the heart of our politics.” The C.I.A. has established a secret Cuba task force as the Trump administration pressures Havana, which will allow the spy agency to quickly direct more financial, human and technical resources at the island. Marine One, the helicopter that transports the president, came within less than a mile of an Envoy Air flight on Tuesday, raising new concerns about air traffic control in the congested Washington airspace. A White House official stated that no final decision has been made regarding which plane will be displayed at the Trump presidential library, leaving the fate of a Qatari jet unclear.

Emerging Trends and Market Dynamics

China’s rapid progress in low-cost artificial intelligence is strengthening the investment case for the country’s internet giants after years in the shadow of chipmakers, market participants say. WSJ Dollar Index fell 0.2%, marking the sixth decline in the past seven trading days. Jason Arday, who was hired by the University of Cambridge in 2023 as the youngest Black professor in its history, has resigned amid doubts cast on his academic qualifications and personal claims. In a 23-minute appearance with CNN’s Jake Tapper, Ohio Republican Max Miller made an unusual effort to rebut multiple allegations that have threatened his re-election bid.