Public Markets 8 Hours

Last updated: July 21, 2026, 2:30 AM ET

Middle East Tensions Drive Oil and Gold Markets

Oil prices edged lower amid hopes of a new U.S.-Iran ceasefire, though Goldman Sachs warned Brent crude could top $120 if disruptions persist in the Strait of Hormuz. Palm oil also as weakness in the crude complex dented biofuel appeal. Meanwhile, gold rose on dip-buying as traders monitored Middle East developments for inflation impacts. Asian equities broadly advanced on hopes for a ceasefire, while the Singapore dollar remained steady against the U.S. dollar.

Corporate Earnings and Sector Performance

Julius Baer reported its net profit to a record high, driven by a 26% jump in operating income. Novartis returned to growth, with second-quarter net sales rising 1% at constant currency due to strong performance from key drugs. Law firm Linklaters saw its partners payday, citing a boom in its Asia business. In the drinks sector, Diageo's chair is to join the board as the company restructures.

Geopolitical and Economic Uncertainty

The UK’s new Chancellor, Rachel Reeves, faces a formidable in-tray following her appointment as markets watched for policy direction. In Germany, Chancellor Friedrich Merz has a window to on policymaking after a key ally resigned. China is reportedly weighing tighter export controls on AI models and chips to stem outflows of advanced technology. Meanwhile, the Czech central bank chief warned against joining the Eurozone too early and.

Market Trends and Investor Sentiment

Australian pension funds delivered a strong 9.5% annual gain, bolstered by a rally in global equities, though concerns. Japan's insurance firms bought the most super-long government bonds in three years in June. South Korean investors have to the lowest level since April, as memory-chip losses halted the market's rally. China is stepping up efforts to stabilize its stock market, with record inflows into a tech ETF.

Industry Developments and Regulatory Scrutiny

Adnoc plans to invest $6.2bn in natural gas schemes as the UAE seeks self-sufficiency. US authorities are probing Mark Walter’s insurance empire, focusing on the nexus between insurance and private capital as risks rise. The London Stock Exchange plans to launch round-the-clock trading next year, initially offering access to exchange-traded products. SBI Funds Management Ltd. shares rose 8.5% in their Mumbai debut after a heavily subscribed $1 billion IPO.

Emerging Technologies and Sector Disruptions

Psychedelic drugs are with commercial success looking less theoretical for treatments based on mushrooms and LSD. Investors are betting on AI drug discovery, with a specialist venture firm raising an $800 million fund to back AI-designed medicines. Oracle could face a $7 billion collateral bill for a Wisconsin data center, with increased power costs adding to challenges. Google's AI search features are as users spend more time on the platform.

US Economic and Trade Landscape

Trump's tariffs have hit America's farming powerhouse, potentially costing the US its status as the world's leading agricultural exporter. US authorities are also looking to on a wide range of goods, accusing its neighbor of unfair practices. Regulators and prosecutors are scrutinizing the insurance-private capital nexus, with US authorities probing Mark Walter’s insurance empire for potential risks.

Financial Services and Legal Professions

UBS's 'Project Chocolate' probe shows he was targeted from the outset, according to trader Tom Hayes. Gary Stevenson may have been Citi’s most profitable trader in developed market foreign exchange according to reports. UK fintech Revolut plans to challenge Australia’s Big Four banks after winning a full banking license, targeting credit and savings customers with new services. JPMorgan boss Jamie Dimon warned of consequences if Andy Burnham taxes banks, stating any raid would threaten the bank’s planned £3 billion London office investment plans.