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Last updated: July 9, 2026, 11:30 PM ET

Markets Calm as Iran Tensions Ease, Chip Stocks Surge

U.S. stocks rose broadly as fears about a wider war in Iran subsided, with on signs of de-escalation. The WSJ Dollar Index declined 0.1%, snapping a three-day winning streak. Chipmakers drove a significant rebound on Wall Street, helping to. The chip trade overshadowed flare-ups in the Middle East, as investors showed renewed enthusiasm for memory stocks. Oil prices on prospects that U.S.-Iran tensions may be contained, and later steadied as traders assessed the risk to supply flows. Gold remained steady amid Middle East tensions, with traders weighing the geopolitical fallout against the outlook for interest rates.

Emerging Markets Face Currency Weakness, Russian Oil Flows

The Indonesian rupiah’s balance of risks, according to MUFG Bank, amid concerns that President Prabowo may enact more forceful measures to extract funds from tycoons, fueling capital flight. Meanwhile, at least $1.6 billion worth of Russian diesel and fuel oil has flowed from Indonesia’s Karimun island into regional markets. India’s IT firms face a challenging earnings outlook, with of traditional services in the age of artificial intelligence, alongside geopolitical risks from Iran. The Reserve Bank of India may find its bearish dollar bets tested as short dollar forward positions in May. China’s central bank set the yuan’s daily reference rate stronger than 6.80 per dollar for the first time since 2023, signaling comfort with the currency’s strengthening trend.

Corporate Activity and Tech Trends Shape Markets

SK Hynix Inc. raised $26.5 in its American depositary receipt offering, marking the largest U.S. first-time share sale by a foreign company. China’s AI star Zhipu may continue to experience volatile trading due to a thin pool of publicly available shares following its $4 billion fundraising effort. In the U.S., OpenAI’s second-in-command is stepping down as the AI giant prepares for a potential public offering. JPMorgan Chase & Co. is developing AI agents that have outperformed the traditional 60/40 portfolio in backtests. Activist investor Donerail Group is urging Beazer Homes USA Inc.’s board to engage with potential buyers after a rival homebuilder.

Global Brands and Industry Developments

Nike and Adidas are betting heavily on the World Cup to capture market share. Volkswagen is cutting production as sales in China plunge, struggling to compete with local EV makers. Canadian fashion retailer Aritzia reported a surge in profit, with particular strength seen in its digital business and continued gains in the U.S. market. Fubo TV appointed Disney executive Alisa Bowen as its new CEO, bringing nearly three decades of media industry experience to the role. Boeing’s smallest 737 MAX jet is nearing a Federal Aviation Administration milestone after years of delays, with regulators expected to certify the aircraft this month. Netflix is exploring live TV and bundles as it seeks to retain viewers amid fierce competition.