Public Markets 8 Hours

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

Energy Markets Surge Amid Middle East Tensions

Oil prices climbed sharply as escalating hostilities between the U.S. and Iran, coupled with threats from Yemen's Houthis, pushed Brent crude above $91 a barrel. The International Energy Agency warned of increased risks to energy supplies, urging vigilance as. Tanker traffic in the Red Sea saw disruptions, with after Houthi warnings. Kazakhstan announced it would to a Russian Black Sea port following tanker attacks, potentially removing another 1 million barrels a day from the market according to the FT. India's refiners, meanwhile, have due to escalating Hormuz risks, though they continue to take deliveries of Russian crude near record levels as reported by Bloomberg.

US Treasury Yields Rise on Inflation Fears

U.S. Treasury yields as a surge in crude oil prices stoked concerns that inflationary pressures could prompt the Federal Reserve to maintain higher interest rates. The 10-year and 30-year yields in approximately two months. Despite ongoing Middle East tensions, Treasury yields and the dollar remained steady amid lingering hopes for diplomatic solutions.

Corporate Dealmaking and Financial Sector Moves

In the M&A space, Iberdrola SA has agreed to buy an 80% stake in Finland's Caruna Group for €2 billion. Germany's Intersnack Group will for $14.25 per share, a 91% premium. Rolls-Royce is awaiting an Airbus decision on a new A350 version, which could. The UK's National Grid is investing $1.75 billion in a U.S. developer focused on powering data centers. In the UK, the new Chancellor John Healey's appointment boosted shares in defense groups, with investors hoping for increased military spending. The City of London welcomed Healey's appointment, seeking stability from the Treasury's seventh occupant this decade.

Tech and AI Sector Developments

Chip stocks, as investors anticipated earnings from major tech firms. Google released three new Gemini AI models, including its most powerful to date and one fine-tuned for cybersecurity, intensifying competition with rivals. Concerns over artificial intelligence's impact on software companies have led to increased downgrades for Adobe and Salesforce, with more analysts recommending selling their stock as reported by Bloomberg. Core Weave's AI-native cloud faces significant capital demands, with its CEO stating the company is on the "right side" of a generational change according to the WSJ.

Automotive and Retail Sector Performance

General Motors, citing strong demand, and reported second-quarter net income of $1.31 billion on revenue of $48.03 billion. D.R. Horton, however due to flat sales and sluggish buyer demand. Icahn Enterprises is set to to Mavis for $700 million. America's Car-Mart Inc., a subprime auto dealer, is facing near demise after thriving during previous economic downturns by selling and financing older, high-mileage used cars as detailed by Bloomberg. Hasbro, meanwhile, lifted its outlook as consumers continue to purchase trading cards and toys, with "Magic: The Gathering" and Peppa Pig performing well.

Cryptocurrency Markets Show Signs of Activity

Bitcoin rallied after suggested Washington is nearing a clearer regulatory framework for digital assets. The news has stirred crypto markets after months of subdued trading. In a separate development, a proposed merger of three crypto firms has been scrapped, with one leader stepping down and power consolidating within the Tether-backed franchise as reported by Bloomberg.

Other Market and Economic Notes

Kalshi is seeking approval to launch perpetual futures for gold, silver, and platinum, building on its previous CFTC approval for similar products according to the WSJ. The U.S. Treasury Department has expressed concern over "potentially abusive" tax strategies touted by Wall Street, suggesting some may be "too good to be true" as reported by Bloomberg. Shares in U.K. defense groups rose on expectations that the new Chancellor John Healey will increase military spending according to the FT. Pakistan has appointed banks for its global bond and sukuk programs according to Bloomberg. High-yielding emerging-market currencies gained ground, with investors focusing on carry trades and looking past geopolitical tensions in the Middle East.