Public Markets 8 Hours

Last updated: July 29, 2026, 8:30 AM ET

Energy Markets Surge Amid Middle East Tensions and Supply Concerns

Oil prices climbed sharply with WTI futures jumping more than 3% as renewed fighting in the Middle East threatened to undermine diplomatic efforts to quell a protracted conflict. Saudi Aramco is considering a new pricing strategy for oil destined for Asia, as Iran-backed Houthi militants continue to pose risks to Red Sea shipping lanes. Ukraine also claimed to have hit a major Rosneft refinery in Russia’s Ryazan, marking its first strike on a significant oil-processing facility in nearly two weeks and adding to supply disruption fears. The UAE, meanwhile, is pressing ahead with liquefied natural gas exports from its Persian Gulf plant despite heightened regional tensions. Global oil prices jumped again following a resurgence in U.S.-Iran hostilities, which left investors concerned about the continued flow of energy from the region.

Corporate Earnings Drive Mixed Market Performance

Eye health company Bausch + Lomb on strong quarterly results, bumping its revenue target by $20 million to a new range of $5.44 billion to $5.54 billion. German defense contractor Rheinmetall after preliminary figures showed revenue jumped around 69% year-on-year amid robust demand for its products. Italian lender Intesa Sanpaolo, now expecting this year’s net profit to exceed €10 billion ($11.39 . Apparel company VF Corp., owner of Vans after its quarterly loss narrowed, now expecting full-year revenue to grow by at least 2% on a constant-currency basis. Luxury goods maker Hermès, with revenue up 6.7% excluding currency movements, as demand in Europe, the U.S., and Japan helped offset a slowdown in the Middle East and the impact of the US-Iran war. French spirits maker Remy Cointreau remains upbeat on its rebound plan after robust cognac sales, with high-end brands seeing a 7.7% organic increase in the fiscal first quarter. Food producer Danone, boosted by demand for its high-protein yogurts and medical nutrition products, with Japan driving growth for its Oikos and Activia brands. BASF posted soaring in the first six months of the year, benefiting from a multi-billion euro disposal gain from its coatings division sale.

Tech Sector Faces Headwinds Amid AI Hype and Earnings Disappointment

The Nasdaq 100 is as investors brace for earnings reports from major tech companies. South Korea’s SK Hynix shares despite record quarterly results driven by the AI boom, as overall metrics disappointed investors. The chip giant’s second-quarter net profit surged 13-fold, but its results fell short of high market expectations, leading to a tech rout that roiled markets. Emerging-market stocks plunged further as a slide in Asian tech stocks deepened, with the benchmark gauge hitting a three-and-a-half-month low. ASM International shares after its guidance for next year, while boosted, fell short of forecasts. Meanwhile, AI companies are actively recruiting electricians and carpenters, highlighting the need for skilled human labor in the burgeoning artificial intelligence sector.

Financial Sector Navigates Restructuring and Market Volatility

Banks are rushing to embrace tokenized systems, blurring the lines between traditional finance and the digital asset ecosystem. UBS and Deutsche Bank in the second quarter, driven by their investment banking and wealth management units. Deutsche Bank plans a fresh $569 million buyback after its pretax profit increased 11% from a year ago and it completed a 1 billion-euro buyback. UBS is planning buybacks of at least $1 billion over the next three months as part of a larger $3 billion stock-repurchase program aimed to conclude by mid-2027. Standard Chartered and announced a $1 billion buyback, with the Asia-focused lender also embarking on a cost-cutting plan to reduce back-office jobs and embracing AI. Ares Management Corp.’s $29 billion private credit fund reported an increase in troubled investments during the second quarter, as the industry grapples with exposure to vulnerable businesses. Philippine banks have for potential loan losses since at least 2008, bracing for defaults as the Middle East conflict weighs on the economy.

Retail and Consumer Goods Companies Adjust Strategies Amid Economic Pressures

Procter & Gamble’s fourth-quarter profit, driven by higher operating costs that offset a slight sales increase, leading the consumer-products giant to give a soft fiscal-year outlook. The company is working “harder than we’ve had to in a long time” to win over shoppers. Lysol maker Reckitt after reporting 4.7% like-for-like net revenue growth, bolstered by emerging market performance, with Dettol demand soaring in China. Baker Greggs despite a heatwave and growth worries, continuing its expansion in the UK.

Global Economic and Political Developments Shape Market Sentiment

The UK prime minister has opened the door to tax rises to fund a social care overhaul, aiming to prevent people from having to sell their homes. Pakistan and Bangladesh are for LNG as the Strait of Hormuz remains closed, forcing a switch to more expensive spot cargoes. The Turkish government has lifted its milling wheat export ban as it anticipates a record harvest. Russia has charged Telegram’s founder Pavel Durov with facilitating terrorism, escalating its fight with the popular messaging app and placing him on an international wanted list. Wildfires in France and Spain are slowing, but high winds and rising temperatures pose ongoing risks, with the Spanish prime minister calling the next 12 hours "decisive." Europe is experiencing some of its biggest fires and highest temperatures ever, prompting a reckoning on climate change risks. New Mexico, the second-largest oil-producing state over how to utilize its $75 billion in oil revenue. India intends to push a tax bill for global bond funds through Parliament to formalize tax cuts for foreign investors.

Automotive Sector Undergoes Job Cuts and Strategic Shifts

BMW is aiming to cut several thousand jobs in Germany through a voluntary severance program, as the automaker seeks to become leaner and compete more effectively with Chinese rivals. Porsche AG confirmed its guidance as turnaround efforts begin to pay off, with plans to invest in new gas-powered and hybrid models and reduce variants to target profitability over volume. The luxury sports-car maker also reported climbing earnings.