Public Markets 8 Hours

Last updated: July 8, 2026, 11:30 PM ET

Middle East Tensions Drive Oil Prices, Impact Currencies

Oil futures in the Middle East, with Brent crude extending gains after the US struck Iran for a second day. This surge in oil prices as the Reserve Bank of India’s measures proved less effective than in 2013. The Dow Jones Industrial Average fell as global oil prices posted their steepest climb since May. Meanwhile, copper prices and shrugged off fresh US strikes on Iran to focus on optimism for a longer-term demand boost from artificial intelligence. The Singapore dollar in the Asia session amid possible position adjustments. Australia is considering national biofuel mandates to bolster energy security following uncertainty from the Iran war.

Asian Markets React to Chip Demand and Central Bank Stances

Asian shares, as optimism over AI-driven demand rekindled appetite for semiconductor stocks. South Korea’s AI chip boom is separating the haves from the have-mores, with semiconductor workers receiving huge bonuses that leave those in traditionally prestigious jobs feeling worse off. SK Hynix Inc.’s US listing is more than seven times oversubscribed, as the South Korean memory chipmaker prepares to price its offering. In other Asian economic news, New Zealand manufacturing expanded at the fastest pace in almost five years in June, with central bank Governor Anna Breman pointing to a burgeoning economic recovery. Bank of Korea Governor Shin Hyun Song indicated that policy rates will need to rise at an appropriate time, reinforcing the bank’s hawkish stance just a week before a widely expected rate hike.

US Markets Navigate Legal Battles and Corporate Restructuring

Treasury yields, with renewed hostilities in the Middle East driving the advance. In legal news, a judge to E. Jean Carroll, after a jury found he sexually abused and defamed her. Apple Inc. supplier Luxshare Precision Industry Co. trading debut after raising HK$24.3 billion ($3.1 in the city’s biggest listing this year. The owner of a damaged Manhattan tower after an evacuation due to structural concerns. Levi Strauss & Co. raised fiscal-year, expecting revenue growth of 7% to 7.5%, compared with its prior guidance of 5.5% to 6.5%.

Corporate Debt and IPOs on the Horizon

Luxury car maker Aston Martin’s noteholders amid earnings pressure weighing on the company’s debt. S&P Global Ratings, citing the company’s strategy to sell lower-cost motorcycles to boost revenue. DuPont Registry Group, a luxury car marketplace and media company, has tapped banks for a US initial public offering. Accor SA has also lined up investment banks to arrange a potential US initial public offering for Ennismore Lifestyle Group Ltd.. Meanwhile, hyperscaler debt is becoming a rates story amid significant market supply.

Political Developments and Investigations

US authorities are investigating two shootings involving federal task force agents in Memphis. A US judge pressed Gautam Adani for more details on the Justice Department’s move to dismiss a criminal case against the Indian billionaire. In Maine, Democrats are expressing interest in running for the Senate even before Graham Platner suspended his bid, as divisions festered within Iran over talks with the U.S.. The WSJ Dollar Index. Separately, regulators are warning the public about counterfeit air-bag parts in used cars that have been linked to 10 deaths, though tracing them is difficult.

Market Wrap and Economic Outlook

Gold remained flat amid renewed fighting in the Middle East and following the Federal Open Market Committee’s latest minutes. Japanese government bonds in U.S. Treasurys. Global inflows into Indonesian sovereign bonds are poised to extend, with investors seeing value in some of emerging Asia’s highest yields. The European Union has rejected a plea to pause its troubled EES biometrics system at airports ahead of the summer rush, a move that could cause long lines and missed flights for travelers. Inflation fears have retaken center stage, alongside diesel prices and AI politics.