Public Markets 8 Hours

Last updated: July 28, 2026, 8:30 PM ET

Energy Markets Brace for Volatility Amid Middle East Tensions

Crude oil jumped sharply following renewed fighting in the Middle East, reigniting concerns over energy supply disruptions and pushing US equity-index futures lower. Oil prices as fresh clashes erupted in the region, with continued threats to vital energy flows. The Houthi group in Yemen of Saudi shipping in the Red Sea, with their ally Iran reportedly considering a retaliatory strike on a Ukrainian seaport. Treasury yields edged lower as hopes for a diplomatic solution to the US-Iran conflict emerged, pushing oil prices down. US natural gas futures, however for a fourth consecutive session as solid production and inventories weighed against weather-driven demand.

Tech Sector Sees Mixed Performance as AI Demand Continues

The world’s second-largest memory-chip maker, SK Hynix in second-quarter net profit, driven by sustained demand for AI-related memory chips. Bloom Energy Corp. jumped after that more than doubled expectations and raising full-year guidance for the second consecutive quarter. NXP Semiconductors posted a profit of $767 million, fueled by growth across all end markets and regions, with particular strength in software-defined vehicles and physical AI customers. Teradyne’s profit, as the artificial intelligence boom boosted its business providing testing equipment for chips. Seagate Technology reported a significant rise in net income to $1.29 billion, or $5.58 a share, up from $488 million, or $2.24 a share, as AI boom drives data storage demand.

Conversely, chip stocks, with the Nasdaq 100 briefly falling into correction territory ahead of major tech earnings. Investors rotated out as the rout deepened, leading to a mixed performance for US equities where the Dow industrials surged while chip stocks declined. The shift saw investors ditching AI darlings in favor of sectors that had previously lagged.

Automakers Navigate Shifting Sales Landscape

Ford Motor Co. lifted full-year to between $10 billion and $11 billion, anticipating a roughly 0.5% increase in automobile prices. The automaker’s second-quarter performance was bolstered by sales of high-margin off-road vehicles, despite overall sales and revenue declines. JetBlue Airways of $247 million in the second quarter, and is eyeing more aircraft financing if high fuel costs persist. Ray-Ban maker EssilorLuxottica in the three months through June, a slight slowdown from the previous quarter.

Financial Sector and Dealmaking Activity

BlackRock Private Credit plans to ramp up its operations in a bid to challenge established players like Blackstone and Apollo, with the acquisition of direct lending powerhouse HPS. BXP Inc. secured $1.2 to construct a 46-story office tower adjacent to New York City’s Grand Central Terminal. In a potential significant deal, Paramount Skydance Corp.’s agreement to purchase Warner Bros. Discovery Inc. could result in a $9.8 billion liability for Larry Ellison and his family if it collapses.

Corporate Earnings and Outlooks

Mondelez International lifted its outlook following higher quarterly sales, driven by strength in the Latin America market, and now expects at least 2% growth in organic net revenue. Cheesecake Factory reported higher profit in its second quarter, with increased customer traffic from menu innovation and marketing efforts boosting revenue. Hilton Hotels posted a second-quarter profit of $482 million, or $2.10 a share, as renewed demand for mid-range hotels. Visa’s third-quarter revenue, with profit reaching $5.63 billion.

Regulatory and Legal Developments

Canada will U.S. streamers to make mandatory financial contributions to its domestic entertainment industry, according to a court filing. A former Goldman Sachs banker went on trial for allegedly paying government officials in Ghana a substantial amount of bribes to secure a power plant deal. President Trump is an $83.3 million award in the E. Jean Carroll defamation case, having already paid her over $5 million from a prior lawsuit. Shein has disclosed an FTC investigation into its U.S. operations, though the company.

Political and Geopolitical Landscape

Jay Clayton was confirmed by the Senate to lead the U.S. Intelligence Community, following controversy over his refusal to clearly state Joe Biden won the 2020 election. Millions of older Americans for their prescription drug coverage next year as the Trump administration plans to end subsidies for Medicare drug premiums after 2026. Senator Lindsey Graham's farewell in Trump’s Washington, reflecting the changing political order. The Democratic Party has approved a new primary calendar for 2028, placing South Carolina at the forefront and increasing clout for Black and Latino voters.

Other Notable Business and Market News

The Writers Guild has the Urbanworld film festival over its addition of a section for movies made with AI tools. Koch Inc. is reportedly exploring a sale of Edged, its data center development firm, for an estimated $15 billion. TD Securities warned that the US dollar is set to drop if the market continues to misprice the Federal Reserve's rate risk, suggesting weakness if rates are held steady.