Public Markets 8 Hours

Last updated: July 29, 2026, 2:30 AM ET

European Equities and Corporate Earnings

The FTSE 100 in early trading as investors awaited a wave of corporate earnings reports. Porsche AG after reporting increased profitability in the first half, driven by sales of pricier vehicles. Danone SA also in its second quarter, benefiting from strong demand for its high-protein yogurts and medical nutrition products. Deutsche Bank following an 11% rise in pretax profit, surpassing analyst expectations. Similarly, UBS after its net profit increased, buoyed by its investment banking and wealth management divisions. Standard Chartered and is set to launch a $1 billion share buyback as the Asia-focused lender embraces AI and cost-cutting measures, including job reductions.

Asian Markets and Financial Sector Performance

Philippine banks have to their highest level since 2008, anticipating defaults amidst surging inflation and economic headwinds from regional conflicts. In Hong Kong, financial stocks are on track for their best month in nearly two years, with investors shifting towards banks and insurers as enthusiasm for technology shares wanes. Gold inflows into Hong Kong in June, in preparation for the city’s new clearing system and robust demand from mainland China. Singapore stocks are heading for their best month since 2020, primarily driven by a rally in banking shares. Meanwhile, Japanese Government Bond (JGB) futures edged higher amidst mixed market signals, while Japan’s Government Pension Investment Fund has hired active domestic bond funds for the first time in five years to enhance its expertise.

Global Commodity Markets and Energy Sector

Wheat futures rose for a second session as escalating tensions between Russia and Ukraine threaten export prospects from key global suppliers. Oil prices, fueled by renewed anxieties stemming from Iran's missile attack. Abu Dhabi National Oil Co. proceeding LNG from its Persian Gulf plant despite heightened regional hostilities. Woodside Energy Group Ltd., Australia’s largest natural gas exporter, reported a more than 25% slump in output for the quarter due to cyclone impacts and planned maintenance. Rio Tinto, citing increased commodity prices, production, and productivity gains, and anticipates growing demand for metals driven by AI infrastructure.

Technology, AI, and Market Valuations

The semiconductor sector experienced a downturn with SK Hynix shares tumbling for a second day, triggering trading suspensions in South Korea. SK Hynix, despite reporting a sixfold profit surge but maintained that the risk of memory oversupply remains limited. This downturn in chip stocks has, with one SK Hynix trade reportedly causing $60 million in crypto bets to evaporate. Meanwhile, Indian IT stocks are staging a comeback, with the Nifty IT Index showing its lowest correlation to the Philadelphia Semiconductor Index since 2018. PwC published reports, marking it as the latest firm to produce flawed work while promoting its AI expertise. AI risks are also dragging on a $5 billion software refinancing, with cybersecurity firm Proofpoint facing higher borrowing costs. Google Deep Mind has dismantled its Nobel-winning AlphaFold team as it shifts strategy towards building broader AI systems for scientific discovery. Meta CEO Mark Zuckerberg criticized the centralization of AI power, advocating for more openness in AI development.