Public Markets 8 Hours

Last updated: July 18, 2026, 11:30 AM ET

Markets React to AI Hype and Tech Volatility

Semiconductor stocks, nearly five times that of the broader market, as traders grapple with the ongoing artificial intelligence narrative. Meanwhile, shares of Elon Musk’s SpaceX for the first time since its initial public offering, suggesting traders are increasingly betting against the rocket and AI company. The markets continue to be dominated by news of artificial intelligence, underscoring the sector's significant influence.

Global Geopolitics and Economic Impacts

Kuwait's energy infrastructure during intense Iranian retaliatory attacks, marking one of the worst nights for the nation since the Middle East conflict escalated, with strikes hitting an oil facility and a power plant. In a separate development, the Trump administration is seeking to scale back sanctions on Russia, a move that could fuel fears over the dollar's supremacy as adversaries develop workarounds.

Corporate Earnings and Sector Trends

ICICI Bank Ltd. posted better-than-expected, driven by surging loan growth across both retail and corporate segments, signaling strength in India’s banking sector. In contrast, large corporate pizza chains by the rise of delivery apps like Door Dash and Uber Eats, which have leveled the playing field for smaller competitors.

Legal and Political Developments

Top law firms are bracing for a second legal battle with the Department of Justice over agreements reached with Trump, as firm leaders are being compelled to sit for depositions. In political news, a lobbying group who voted to eliminate aid to Israel, closing off online donations for several endorsed lawmakers.

Consumer and Industry News

Taylor Farms has expanded its iceberg lettuce recall to 27 states due to a cyclospora outbreak, with implicated products having been shipped as recently as Thursday. Separately, the Major League Soccer commissioner in America, having prepared for this moment for eight years. Passengers are facing a growing risk to air travel from personal electronic devices, as phones, power banks, and vapes on planes.