Public Markets 8 Hours

Last updated: July 29, 2026, 11:30 PM ET

Asian Markets Mostly Lower as Fed Holds Rates; Samsung Earnings Disappoint

Asian stocks faced headwinds as the Federal Reserve maintained its interest rate policy, while renewed concerns over artificial intelligence spending and uncertainty surrounding the Fed's future outlook sent longer-dated Treasury yields higher. South Korean stocks declined for a third day following Samsung Electronics Co.'s better-than-expected earnings, which failed to quell market jitters. The government also announced additional measures to curb demand for the company's products. Despite a record slump that has left the benchmark Kospi at its cheapest valuation ever, Korean stocks' record rout has failed to tempt global investors. Elsewhere, India’s Nifty continued to hit technical resistance at its 200-day moving average, indicating the benchmark has yet to convincingly reclaim its long-term momentum. China’s thermal coal prices were rebounding as a mild start to summer gave way to hotter weather, boosting air-conditioner usage and power demand. Hong Kong builder Parkview Group Ltd. missed interest on a $940 million loan backed by a landmark Beijing asset.

US Markets React to Fed Decision and Geopolitical Tensions

U.S. stocks slid sharply after the Federal Reserve held rates steady, with investors also worried about potential rate hikes later this year as the conflict in Iran escalated. Gold advanced following the U.S. Federal Reserve's decision to keep interest rates unchanged, despite rising inflationary risks stemming from the war in the Middle East. Treasury yields lost steam as the Fed held interest rates steady, though three officials dissented, voting for an increase. Government borrowing costs after the Fed's rate decision, suggesting investors doubt the Federal Reserve's ability to contain inflation. Oil futures edged lower on the possibility of a technical correction after strong gains earlier in the week. The dollar may be weighed down by divergence in forward guidance between the Federal Reserve and other central banks, according to DBS Group Research.

Corporate Earnings and Strategic Moves Drive Sector Performance

Samsung Electronics' net profit surged 14-fold in the second quarter, driven by a stellar performance in its semiconductor division, extending its streak of record earnings. Microsoft increased spending as its profit jumped 31%, hoping aggressive investment in artificial intelligence will translate into revenue. The software giant ended its fiscal year with $90 billion in quarterly sales, beating Wall Street expectations. Meta's profit as AI spending continued to rise, with costs growing more steeply than revenue. Social media chief Mark Zuckerberg defended his strategy based on personalized AI "agents" as costs climbed and revenue projections disappointed. Qualcomm posted shrinking as higher chip costs hurt the smartphone market, with net income falling 25%. The semiconductor company also provided a soft outlook for the current quarter and warned of price increases. Bradesco approved $2 capital increase to fund its digital transformation, with top investors supporting the lender's revamp. Johnson & Johnson with Sail Biomedicines, including an initial payment of $785 million and an option to acquire Sail for $2.58 billion.

IPO Market Sees Activity Amidst Broader Economic Trends

Sandwich chain Jersey Mike’s Subs Inc. and its shareholders in an initial public offering that priced at the midpoint of its marketed range. Innolight set for its biggest Hong Kong debut in seven years, raising HK$53.4 billion ($6.8 in its listing. Attovia Therapeutics Inc., an early-stage drug developer, is seeking to raise as much as $212.5 million in a U.S. initial public offering. Chinese companies are preparing to unveil their biggest wave of share buybacks since 2025 to stem a stock selloff and bolster investor confidence. The used-car retailer Carvana, with sales up nearly 40% over last year as new car prices rise. C.H. Robinson reported second-quarter profit of $186.8 million, compared with $152.5 million a year earlier, as higher prices boosted revenue. Sturm Ruger swung to profit, driven by firearms demand and a 10% increase in average selling price to $384. Chipotle Mexican Grill posted higher sales, driven by new restaurant openings, with revenue rising 9.3% to $3.35 billion.

Regulatory and Political Developments Influence Markets

Senators Cornyn and Tillis forced a delay in the Blanche nomination over a deal concerning President Trump's suit against the IRS. A seven-figure settlement was announced hours before senators skeptical about the so-called weaponization fund delayed a crucial vote on Todd Blanche’s nomination for attorney general. The Hollywood Foreign Press Association is over its takeover of the Golden Globes, claiming the purchase was fraudulent. New York City's second-home tax rollout is causing confusion among some residents, with homeowners expressing anxiety over address publication and asserting they only own one home. The New Zealand's financial markets watchdog has appointed an interim chief executive after its CEO went on leave following revelations of "cultural concerns." The Bank of Japan's upcoming interest rate meeting for signs of future policy decisions, as investors warn the central bank faces a test to its inflation-fighting credibility.

Geopolitical Events and Market Responses

Qatar has sent its first liquefied natural gas shipment through the Strait of Hormuz in three weeks, following an attack on one of its tankers. The United States is again exchanging strikes with Iran, days after the president appeared to reject plans to escalate. President Donald Trump vowed fresh strikes in Iran, while U.S. stockpiles fell, leading oil to steady after its biggest daily jump in more than two weeks. Two tankers were in Egypt, causing a fire on two ships, including a U.S. gas storage tanker. Families are facing anxiety as loved ones are deployed to fight in Iran, with the ongoing war bringing back old anxieties for some. China revealed for the first time the launch of the YJ-20 missile from a smaller destroyer, hinting at wider use of its advanced hypersonic weapons.