Public Markets 8 Hours

Last updated: July 13, 2026, 5:30 PM ET

Oil Prices Surge Amid Geopolitical Tensions and Supply Concerns

Brent crude futures climbed to their highest level in a month as tensions between Washington and Tehran escalated, with President Trump vowing to renew a blockade on Iran on shipments through the Strait of Hormuz. Ship traffic in the critical waterway following Iran's attack on a vessel and subsequent U.S. strikes. In response to the escalating conflict and potential disruptions, Dubai on the UAE's east coast to bypass the Strait of Hormuz. Meanwhile, Russia's crude output declined to its lowest in at least two and a half years in June due to Ukrainian attacks on its oil infrastructure. The United Arab Emirates, however, boosted its crude output by 80% in June after exiting OPEC to escape production quotas.

AI Selloff Rattles Tech Stocks, While Fusion Company Debuts

U.S. stocks experienced a decline as a sharp selloff in chip stocks rattled investor confidence in the artificial-intelligence trade. The Nasdaq also slumped as doubts surrounding AI dampened the prospects of SK Hynix's U.S. debut. Concerns about the deepening selloff in artificial intelligence stocks put the dollar's recent gains at risk, according to Apollo Global Management. Financing the AI buildout is becoming trickier for hyperscalers, requiring more creative approaches. In a contrasting development, General Fusion Group Ltd. surged in its first day of trading after merging with a blank-check firm, signaling investor interest in the world's first publicly listed nuclear fusion company. Royal Bank of Canada is also in the U.S. and Europe, anticipating that multibillion-dollar fundraising for AI will fuel hedging demand.

Corporate Dealmaking and Executive Changes

Mexican food chain Chipotle is expanding internationally by taking its offerings to Mexico, as domestic sales growth slows amid high inflation. The CEO of Jack Daniel's maker Brown-Forman, Lawson Whiting, who has led the spirits giant since 2019. In a significant legal challenge, a coalition of a dozen states, including California, has sued to block the Paramount-Warner Bros. merger, alleging the deal would increase prices and lower quality for consumers. Separately, First Hawaiian Bank's parent company has agreed to acquire Tri Co Bancshares in an all-stock transaction valued at $2.01 billion. Shell is for $1.8 billion to Aditya Birla Renewables as the energy major refocuses on oil and gas. Mastercard is reportedly considering a strategic exit from its payments subsidiary Vocalink by.

Federal Reserve Signals Inflation Worries, Potential Rate Hikes

Federal Reserve Governor Christopher Waller if inflation remains elevated, stating he needs to see several months of lower inflation data to feel confident about the economic outlook. Waller also indicated that policymakers in the near term if underlying inflation continues to signal broad price pressures. Meanwhile, Wall Street strategists expect a panel reviewing the Federal Reserve's $6.7 trillion balance sheet to.

Legal and Regulatory Developments

A federal appeals court revived lawsuits linking Tylenol use during pregnancy to autism and ADHD, finding that a trial judge wrongly excluded expert testimony in dismissing the litigation. New Jersey is initiating a process to develop new nuclear power plants to meet rising electricity demand. The Trump administration announced a new attack on the International Criminal Court, with Secretary of State Marco Rubio stating the U.S. would "dismantle" the court. U.S. financial regulators are urging banks to consider the risks of offering loans to undocumented immigrants, as guidance.

Other Market and Economic Notes

Canadian oil sands firms have reached a carbon capture deal with Alberta and federal governments on next steps toward building a carbon capture and storage system as part of a deal. The California Public Employees’ Retirement System reported a 14.8% gain for its latest fiscal year, driven by stocks and private equity. European sovereign-debt dynamics are at risk of "going badly awry" if the region does not, according to the International Monetary Fund. Zurich and Geneva top a survey of the highest disposable incomes globally, despite being among the most expensive cities. U.S. natural gas futures as cooler weather forecasts and reduced exports weighed on prices.