Public Markets 8 Hours

Last updated: July 23, 2026, 2:30 AM ET

Global Markets and Geopolitics Weigh on Equities and Commodities

European stocks are set to open lower as oil prices marched higher amid deepening conflict with Iran. Brent crude futures surged again after Houthi rebels claimed to have attacked two ships in the Red Sea and Iran reported a tanker fire near the Strait of Hormuz. US oil refineries are running at breakneck speeds to meet demand, while Russia from India as Ukrainian strikes damage its own refineries. The closure of the Strait of Hormuz, putting poor farmers globally at risk.

Corporate Earnings and Strategic Shifts Drive Sector Performance

Nokia continues ride of AI and data-center spending, with supply constraints prompting longer-term orders. Chipmaker STMicroelectronics again, raising its revenue target following a previous upgrade. Kuehne + Nagel for a second time, driven by a 20% jump in air logistics revenue. Roche backed full-year as first-half sales rose 6%, though its blockbuster eye drug Vabysmo showed a slower-than-expected recovery in second-quarter results. Nestle agreed to in a joint venture with Platinum Equity. Dassault Systemes agreed to buy Aris Global for up to $2 billion to bolster its AI offerings.

Asian Markets and Economic Indicators Show Mixed Signals

Asian semiconductor stocks climbed higher as Alphabet Inc. plans to spend up to $200 billion on AI computing power. Chinese carmakers logged a surge in European monthly sales in June, strengthening their competitive position. Semight Instruments Co. is considering a second listing in Hong Kong after its shares surged roughly 2,200%. Hong Kong and Malaysia cross-market access to attract more international investment. Meanwhile, China is from using a popular offshore loan structure. Chinese sovereign bonds amid economic weakness and sliding stocks. Indonesia's benchmark index after rising 20% from its June low.

Automotive Sector Faces Challenges and Shifting Dynamics

Hyundai Motor as vehicle sales declined amid cooling global demand. Tesla’s shares as capital expenditures more than doubled, turning its cash flow negative despite a revenue surge. The electric automaker’s earnings missed estimates, with CEO Elon Musk citing discounts used to boost sales. Chinese carmakers on Europe's auto market, with companies like Xiaomi and Xpeng expanding their overseas ambitions.

Financial Sector Performance and Strategic Investments

BNP Paribas for the second quarter, with its stock traders significantly exceeding analyst estimates. The bank’s profits surged by a third following a trading boom, with revenues up 12% and its asset management division posting strong gains. SBI Funds Management is planning its first technology-focused fund for private firms, joining rivals in expanding into the sector. Francisco Partners, a private equity firm for software investments, with co-founder Dipanjan Deb stating AI will not kill the sector. Travis Kalanick, Uber's founder for a new startup.

Commodity Prices and Inflationary Pressures

Crop prices as heat waves and escalating attacks in the Black Sea threaten global grain trade and revive food inflation risks. The Australian dollar’s bullish momentum is clearly building against the U.S. dollar. Gold held its gains from dip-buying, even as Middle East hostilities pushed oil prices higher and rekindled inflation concerns. India's swap market is pricing in at least a 25-basis-point rate hike at its October meeting, as pricey crude.

Technology and AI Spending Fuels Growth and Investment

Alphabet Inc.’s plans to spend up to $200 billion on AI computing power refueled optimism for trickle-down benefits in Asian chip stocks. Google burning through in cash amid an AI infrastructure splurge. IBM CEO Arvind Krishna noted the company's culture, with sales of data-center mainframes sinking 42%. Some high-profile Chinese funds are pivoting to AI stocks, moving away from consumer names.

Regulatory and Dealmaking Activity

Nasdaq Inc. will change to make it easier to delist struggling companies, following SEC approval. Union Pacific reached a deal with Canadian National Railway to in exchange for ending its opposition to Union Pacific's merger. Macquarie named banking to succeed Nicholas Wikramanayake as CEO. The Clarity Act, a bill pushed by the crypto industry, is mired in debate over whether to bar the President from selling crypto.

Other Notable Developments

Zimbabwe's state-owned lithium miner, Mutapa Energy Resources to develop its facilities. Australian employment surged in June, bolstering bets on another interest-rate increase. Fund managers in Taiwan have to lock away their mobile phones before the stock and bond markets open. Silver imports into India have slowed sharply due to a new licensing regime.