Public Markets 8 Hours

Last updated: July 26, 2026, 8:30 PM ET

Oil Prices Ease as Geopolitical Tensions Subside

Oil futures fell sharply in early Asian trade as concerns over Middle East supply disruptions eased. Brent crude opened lower after a period of escalating violence had pushed prices above $100 a barrel. The pause in strikes between the U.S. and Iran for a second consecutive day about a de-escalation of the conflict. The market saw oil tumble at the week’s open following the weekend pause, which eased energy supply risks even as Houthi claims of attacks against Saudi Arabian targets emerged. U.S. equity futures rose as the U.S. refrained from striking Iran for a second straight night.

Federal Reserve on Watch as Inflationary Pressures Persist

Bond traders entered the week on edge with a greater than one-in-three chance of a Federal Reserve interest rate hike this Wednesday. This outlook was fueled by flaring Middle East tensions, which lifted oil prices and subsequently boosted inflation expectations. Meanwhile, central bankers from the Fed, the Bank of England, and the Bank of Japan were set to decide interest rates.

Corporate Dealmaking and Investigations Under Scrutiny

Nvidia was reportedly in talks with OpenAI to guarantee $250 billion in financing for a massive AI computing hub, a project that could involve U.S. government-controlled power. Authorities are also in private-credit deals linked to Mark Walter’s insurance companies, following a whistleblower tip that sparked a federal probe into potential fraud. Separately, Sazerac expressed interest in Brown-Forman, the maker of Jack Daniel's, urging family members to reconsider a previously rejected takeover offer. United Airlines last year about a potential merger, though talks did not progress.

Global Economic Outlook and Emerging Markets

New Zealand's dollar was projected to outperform the euro, reaching its strongest level in over a year due to anticipated interest rate hikes by the Reserve Bank of New Zealand outpacing its European counterpart. In the Philippines, President Ferdinand Marcos Jr.'s annual address to Congress was seen as crucial for reviving the nation's economy, following past revelations of significant corruption.

Legal and Technological Shifts Reshaping Industries

David Fox, who previously helped build Kirkland & Ellis into a top law firm as the future of the legal industry and is planning to disrupt 'Big Law' again. The U.S. market could from the market, as Congress moves to potentially impose such a measure. Meanwhile, European start-up The Exploration Company and is in talks to raise $300 million for reusable space capsules.

Other Notable Developments

Gatwick Airport issued an apology after a water shortage disrupted services, forcing some bars and restaurants to close, though flights continued to operate. The Detroit International Bridge, a project that faced significant trade tensions and nearly had its permit revoked by the Trump administration, was finally set to open on Monday. In Japan, Kioxia Holdings Corp. faces increased as leveraged exchange-traded funds tracking its shares prepare for U.S. listings.