Public Markets 8 Hours

Last updated: July 9, 2026, 2:30 PM ET

Middle East Tensions and Energy Markets

Global oil markets are navigating renewed volatility as tensions between the US and Iran escalate, with Iran rushing to export approximately 11 million barrels of crude in the past 24 hours. US natural gas futures due to ample supply and above-average storage levels. Meanwhile, German bond yields as traders monitored potential oil market disruptions. Insurers in London are reporting fewer inquiries for journeys through the Strait of Hormuz and increased cover costs, signaling growing caution among shipowners. Qatar has paused efforts to increase liquefied natural gas production following a tanker attack in the Strait of Hormuz. US crude inventories are flirting with dangerous levels, while gasoline and diesel exports hover near records inventories are flirting.

Corporate Dealmaking and AI Investment

Global deal-making this year has reached $3.2 trillion, marking the busiest six-month period in a decade, fueled by the AI economy. Microsoft's early lead in artificial intelligence has become a test of faith, with capital spending on the technology. Franklin Templeton sees a durable bull case for AI infrastructure spending through 2027. Investors are increasingly distinguishing between AI's potential risks and rewards, a lesson for Wall Street. European defense startup Helsing has overhauled its staff stock plan ahead of a significant funding round. Separately, a $35 billion financing package for Broadcom and Anthropic's AI chip credit deal is set to begin trading.

European Economy and Markets

UBS strategists have become the biggest bulls on European stocks, forecasting 8% upside driven by stronger earnings and a broadening rally. Spain's proposal for increased joint EU debt issuance has met skepticism from major economies within the bloc. Germany's oil industry retained between €100 million and €200 million from a fuel tax reduction earlier this year. The UK's creative sector received a boost as Banijay picked London as its new headquarters following an $8 billion merger. Computacenter shares rose as the FTSE 100 entrant capitalizes on demand for data center infrastructure.

US Markets and Economic Indicators

US stocks rose as investors downplayed risks from the Iran conflict, piling into technology stocks after recent declines. The dominant tech trade of buying chip stocks and selling software is showing signs of unraveling. An auction of 30-year Treasury bonds is poised to yield the highest rate since at least 2006, reflecting increasing bond supply. PGIM's Gregory Peters suggests the repricing of 30-year US Treasury yields has just begun. US jobless claims, signaling limited layoffs. Grocery stores are lowering prices on some items, though overall grocery bills are unlikely to fall. Seven & i Holdings, owner of 7-Eleven, raised its annual guidance after a surge in gasoline prices boosted earnings at its North American unit.

UK and European Deal Activity

Suspicious trading before takeovers hit a new annual record in the UK, amid a frenzy for British companies. UK fintech Lendable is raising £500 million by selling securities backed by personal loans. Elsewhere, European molecular testing company Qiagen NV is attracting early takeover interest from firms including EQT AB and Advent. Versant Media hopes to re-enter the market with its purchase of simulator maker Full Swing.

Commodities and Agriculture

Corn and soybean futures eased ahead of the WASDE report, influenced by an improving US weather outlook. Ukraine drone strikes have hammered Russia's refineries, contributing to a growing diesel supply crunch as Russia cuts off exports. India's efforts to secure cooking gas supplies have resulted in a surplus for state-run fuel retailers.

Corporate Finance and Listings

Mini Max Group Inc. is seeking to raise as much as HK$14.54 billion ($1.9 through share sales and convertible bonds. Canada's Well Health Technologies Corp. is looking to sell C$150 million ($106 of high-yield bonds. SK Hynix Inc. is planning to price its US listing at $149 per American depositary receipt, potentially offering a significant payday for Wall Street. Tera Wulf Inc. is preparing to raise about $3.5 billion in debt to construct a data center campus. Mavik Capital Management is aiming to raise $1 billion to acquire distressed commercial real estate assets.

Regulatory and Political Developments

The US Federal Regulator has warned that robotaxis pose a "danger" to the public, requiring better interaction with first responders. The Commodity Futures Trading Commission has blocked CME Group's bid to offer round-the-clock oil futures trading. Citigroup Inc. stated that Senegal's political rupture has increased the likelihood of a debt reprofiling rather than a restructuring. The European Commission has launched an investigation into alleged dumping of subsidized Peking duck by China, heightening trade tensions.