Public Markets 8 Hours

Last updated: July 28, 2026, 2:30 PM ET

Stocks and AI Selloff

The Nasdaq 100 Index as semiconductor stocks extend a sharp selloff, with investors questioning substantial spending on artificial intelligence by major tech firms. The Nasdaq 100 ahead of a raft of Big Tech earnings, while the S&P 500 Index steadies with broad gains overshadowing the chip rout. US insurers rallied Tuesday, pushing an industry gauge to a record, as artificial intelligence concerns drove traders toward defensive market segments. Chip stocks tumble as the AI sell-off deepens, and the Dow Jones Industrial Average rallies while chip stocks slide.

Corporate Earnings and Outlooks

Whataburger reported a 10% earnings rise in the first quarter, while Jet Blue Airways' net loss in the second quarter due to higher fuel costs. Hilton Worldwide Holdings posted a second-quarter profit of $482 million, or $2.10 a share, as mid-range hotels see a resurgence. Coca-Cola raises outlook after successfully navigating consumer caution, recording higher profit and sales in the second quarter. UPS lifts outlook, stating that restructuring efforts are paying off, while Centene also as the insurer contains medical costs.

M&A and Financing Activity

Koch Inc. is reportedly exploring a sale of Edged, a data-center firm it cofounded, for an estimated $15 billion. US cybersecurity firm Algo Sec is considering a potential initial public offering on the London Stock Exchange, according to sources. Brady Corp. sold $800 to support its acquisition of Honeywell International Inc.’s productivity solutions and services business. A Connecticut-based private equity firm plans to sell a chain of mental health centers and sober-living homes through a deal financed by municipal bonds.

Global Trade and Economic Concerns

The shipping group CMA CGM has been boosted by customers stockpiling goods to preempt potential tariffs, and the French container shipping company predicts heightened demand will persist. Brazil has seen a surge in chicken shipments to the European Union ahead of a September deadline that could halt meat trade with the bloc. US drivers are feeling the global diesel squeeze, with refining margins near a record and processors prioritizing fuel over gasoline. The UAE is at a record pace, with sales up a third so far in 2026 versus year-ago levels.

Airline and Travel Sector Pressures

Singapore Airlines posted its first quarterly loss since the pandemic due to fuel costs and losses from Air India, despite group revenue increasing 19%. Royal Caribbean Group for the year, as geopolitical uncertainty hurt bookings in the second quarter, though demand for European itineraries is holding up well. Boeing reported a loss of $280 million on its troubled Air Force One program, pushing back delivery of two presidential planes by four years. The FAA has flagged a quality issue affecting seats on hundreds of Boeing MAX jets.

Luxury and Retail Sector Moves

Mike Ashley’s Frasers Group has built a 4% stake in Burberry, aiming to establish itself in the luxury market. Kering sales have returned to growth, driven by strong demand for jewelry and eyewear, as the Gucci slowdown eases. Essilor Luxottica, maker of Ray-Ban and Oakley sunglasses, booked 8.7% year-over-year organic growth in the three months through June, a slight slowdown from the previous quarter. Sherwin-Williams is gaining market share even as paint prices climb, now expecting net sales to be up in the mid- to high-single-digit percent range for the year.

Cybersecurity and Tech Developments

An Anthropic Claude AI model has discovered flaws in tough-to-crack encryption algorithms that protect online financial transactions and private communications. The FT notes that the US should stay open to open-weight AI, suggesting new and cheaper models could benefit the tech sector. Visa is slashing 2,600 jobs, mostly in technology and product teams, as it adapts to the changing payments industry. PayPal has signaled openness to a potential buyout but is focused on a turnaround.

Energy Market Dynamics

Treasury yields have ticked lower alongside oil prices, as hostilities remain suppressed in the Strait of Hormuz. OPEC+ expects to pause oil-production quota hikes after September, continuing to evaluate the supply impact of the Iran war. The energy market is described as being in a "bad equilibrium," with prices bounded while demand and supply are expected to remain off-balance. Ghana has allocated $429 million to finance gold purchases to boost its foreign-exchange reserves.

Data Center and Infrastructure Deals

Koch Inc. is exploring a $15 billion sale of its data-center firm Edged, according to people with knowledge of the matter. Chip-equipment supplier ASM International, citing strong orders and expectations for continued robust bookings, as AI fuels demand. Corning's capacity limits and a smartphone slump are weighing on its outlook, with executives signaling that output is capped by current manufacturing limits.

Financial Services and Regulation

S&P Global Ratings acquired a majority stake in Nigeria-based Agusto & Co. to expand its coverage in Africa. S&P Global Inc. posted quarterly results that fell short of analysts’ estimates, impacted by factors including the US-Iran War making it harder to boost pricing on energy data contracts. UK charities have been hit after specialist bank CAF Bank suspended internet banking services following attempted fraud. Ebay agreed to pay $55.7 million to settle a case over the harassment of company critics.

Cryptocurrency and Prediction Markets

A $140 million crypto real estate empire, Real Token, has fallen apart, leading to the liquidation of its portfolio. Parlay bets are saddling gamblers with $294 million in losses on Kalshi, a prediction-market platform, creating opportunities for sophisticated traders. Prediction markets on Kalshi and Polymarket now allow wagers on drug approvals and clinical trial results, sparking concern about undermining research.

Food Safety and Supply Chain Issues

The FDA official stated the food supply is safe, even as Cyclospora cases climb, and the agency is taking action despite difficulties in finding the root cause of outbreaks. France and Spain are racing to contain fires before some areas reach 104 degrees Fahrenheit, with firefighters using a brief window of opportunity. A fire raging near Bordeaux is bringing more bad news for its vineyards, representing another problem for France's wine industry.

Other Market Developments

FIFA is exploring a stake sale in a new $20 billion entity to capitalize on the World Cup's success, with Joshua Kushner set to lead an investor group. Grub Market Inc. has filed confidentially for a US initial public offering. The European stock markets saw activity as the US-based cybersecurity firm Algo Sec is said to mull a London IPO.