Key Markets & Headlines — Thursday, July 16, 2026

Daily market briefing for 2026-07-16.

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Key Markets & Headlines

Key markets and headlines for today.

The most market-moving story this morning comes from the Middle East, where the United States has struck Iran for a fifth consecutive day, escalating tensions in a region critical to global energy flows. Overnight, the US targeted a sanctioned oil tanker near Iran’s main export terminal, following a series of strikes on military targets including command centers and missile sites. Iran responded by firing upon American bases in Kuwait and Jordan, with the Jordanian government reporting it intercepted eight missiles. Tehran has made it clear it won’t back down, insisting the Strait of Hormuz will remain closed unless the US accepts Iranian legal oversight of the waterway. The closure of the Strait, a vital passage for global oil shipments, has become the focal point of this conflict. US Vice President JD Vance described Washington’s approach as a “delicate diplomatic dance,” combining economic pressure, military action, and negotiations, while ruling out a large-scale ground invasion unless there’s popular support within Iran itself. The situation remains highly fluid, with significant implications for global energy markets and geopolitical stability.

Turning to equities and corporate news, there’s a flurry of activity across the tech, media, and industrial sectors.

Apple is reportedly seeking acquisitions of chip companies to accelerate its efforts to build server chips tailored for artificial intelligence. According to sources cited by The Information, Apple has been in talks with bankers about potential deals and has approached several semiconductor startups to gauge their interest in a sale. This move underscores Apple’s determination to bolster its in-house chip design capabilities, particularly as AI workloads become increasingly central to its strategy.

Amazon is undergoing a leadership change at its cloud unit. Dave Brown, a longtime executive who led Amazon Web Services’ compute and machine learning teams, is leaving the company to pursue a new role outside Amazon. He’ll be succeeded by David Treadwell, a former Microsoft executive who has held senior roles leading engineering teams behind Amazon’s stores operations. This transition comes as Amazon Web Services continues to compete aggressively in the cloud and AI infrastructure space.

Anthropic, the artificial intelligence startup, is in discussions with banks to secure several billion dollars in new credit lines as it prepares for a potential initial public offering later this year. The new loans would expand its existing two point five billion dollar revolving credit facility. Companies often increase their credit capacity ahead of an IPO, and many of the same banks arranging these loans are expected to serve as underwriters. Reports suggest Anthropic could go public as soon as October, with high-stakes meetings already underway with potential investors.

Baidu is planning a dual primary listing in the United States and Hong Kong, aiming to tap into investment flows from mainland China. The company intends to upgrade its Hong Kong listing to primary status, which would allow it to qualify for the Stock Connect program linking Hong Kong with Shanghai and Shenzhen exchanges. This move would broaden Baidu’s investor base and provide a hedge against potential US policy risks, following similar steps by other Chinese tech giants like Alibaba.

Hyundai Motor and its affiliates are moving to acquire SoftBank’s remaining stake in Boston Dynamics, securing full ownership of the robotics pioneer. The transaction, valued at around three hundred twenty-five million dollars for SoftBank’s nine point nine percent stake, values Boston Dynamics at approximately three point three billion dollars. Hyundai’s move comes as it prepares to deploy the Atlas humanoid robot on factory floors, reflecting a broader strategy to enhance its robotics capabilities.

Uber has agreed to acquire Delivery Hero in a deal valuing the German food-delivery company at fourteen point eight billion dollars. Uber will pay a significant premium to acquire Delivery Hero’s operations in fifty markets, expanding its global reach, particularly in Asia, Latin America, and the Middle East. The deal, pending regulatory approval, will boost Uber’s total markets to ninety-nine from seventy-nine. To fund the acquisition, Uber has secured a fourteen billion euro bridge loan. In a related transaction, investment firm SSW Partners will acquire fourteen other markets for about one point six billion dollars, operating them until buyers are found. This structure may help address regulatory concerns.

The Federal Communications Commission is expected to take action against Walt Disney Company in two separate probes as soon as next month. The FCC is likely to determine that ABC’s daytime chat show, The View, is not a “bona fide” news program, which could subject it to stricter entertainment rules and potentially undermine its editorial independence. Separately, the FCC is preparing to send a probe into Disney’s broadcast licenses to an agency hearing, a step toward possible license revocation. These actions could prolong regulatory scrutiny of Disney’s broadcast operations.

Wedbush has assumed coverage of Duolingo with a Neutral rating and a price target of one hundred thirty-nine dollars. The firm notes that artificial intelligence is now the single most impactful swing factor across the internet sector, enabling stronger growth and better products. Wedbush’s top picks in the sector include Alphabet, Uber, Reddit, and Xometry, highlighting companies with the best combination of technology, product, and distribution.

Getty, which reported more than one point nine billion dollars in debt as of March thirty-first, plans to retain an adviser to explore financing alternatives after terminating its agreement to acquire Shutterstock. The company declined to meet a condition required by UK regulators for the merger, and as a result, will repay a six hundred twenty-eight million dollar loan issued to fund the acquisition. Without the expected cash benefit from the Shutterstock deal, Getty could face challenges repaying its debt, with S&P Global Ratings calling its current capital structure “unsustainable.”

Google has told a California federal court it will begin allowing US users to download third-party app stores within the Google Play Store starting next week. This move comes as Google withdraws a bid to alter the final judgment in its antitrust case with Epic Games, effectively bringing the long-running lawsuit to a close. The court had ordered Google to allow rival marketplaces as downloads within the Play Store to help Android users more easily switch to alternatives. Google’s earlier proposal to allow alternate app stores onto Android phones after registration was rejected by the court’s economist, who argued that most users expect to find app downloads within the Play Store itself.

Kalshi has filed to expand its prediction market, allowing traders to bet on or hedge against air travel disruptions. The new product would be based on the percentage of scheduled flights canceled at specific US airports during certain periods, using data from FlightAware and the Bureau of Transportation Statistics.

Eli Lilly is reportedly in talks to acquire AtaiBeckley, a New York-based drugmaker focused on psychedelic medicine. AtaiBeckley shares have more than doubled over the past year, giving the company a market value of almost two billion dollars. Lilly is negotiating a deal at a premium, and the acquisition would deepen its presence in neuroscience drugs, building on its legacy in depression treatment.

The New York Yankees are in advanced talks to raise nearly three billion dollars in financing from Apollo Global Management. The package, comprising mostly debt and some equity, is expected to be used to refinance existing debt and fund growth opportunities. The Yankees, owned by Yankee Global Enterprises, have also invested in European football and Major League Soccer teams.

Microsoft is coaching its sales team to compete more aggressively against Anthropic and OpenAI, emphasizing lower costs, better security, and a more complete suite of products. During an internal meeting, executives highlighted Microsoft’s position as a platform for corporations to fine-tune, deploy, and monitor AI in their businesses. Despite these efforts, Microsoft faces intense competition from large startups and rival cloud platforms, and its stock has dropped twenty percent this year amid concerns about AI’s impact on established software products and rising data center costs.

Buss Sports Capital, launched by Joey and Jesse Buss after the sale of the Los Angeles Lakers, is actively pursuing NBA Europe franchises in multiple markets, including London, Manchester, and Lyon. There’s also speculation about a venture in Italy involving Lakers star Luka Dončić and former Dallas Mavericks general manager Donnie Nelson Junior.

The National Hockey League’s Board of Governors and the NHL Players’ Association have both ratified a new Collective Bargaining Agreement, which will begin in the twenty twenty-six to twenty twenty-seven season and run through twenty twenty-nine to thirty. The new agreement will include an eighty-four game regular season, up from eighty-two, and shortened maximum-term contracts.

Nebius, the Amsterdam-based artificial intelligence data center developer, is shifting to an “asset light approach,” allowing customers to run computing resources on their own servers and equipment. Nebius will provide software designs and services, expecting to strike revenue-sharing agreements and charge licensing fees. The company has secured multibillion dollar deals with firms like Meta and Microsoft and recently adjusted its capital expenditure guidance for the year to between twenty and twenty-five billion dollars.

Japan is planning to buy twenty-seven thousand five hundred next-generation Rubin chips from Nvidia to build a homegrown foundational AI model for robots. The project, overseen by newly established Noetra Corporation, has been allocated nearly two point four billion dollars in government funding through March of next year. The data center is expected to go online in June twenty twenty-eight, with dozens of major Japanese companies participating. While the Rubin order is sizable, it’s still smaller than Microsoft’s plans for hundreds of thousands of Nvidia’s Vera Rubin systems.

The New York Times has refused to let its reporters testify before a federal grand jury after being subpoenaed by the Trump administration over a story about security issues with an Air Force One plane donated by Qatar. The Times filed a motion to quash the subpoenas, calling them “abusive and improper” and arguing they violate constitutional rights. The story in question highlighted security shortcomings in the new Air Force One, including the lack of antimissile capabilities.

Capital One has upgraded Okta to Overweight from Equal Weight, raising its price target to one hundred seventy-one dollars. The analyst sees Okta as a strong neutral and strategic partner in cybersecurity, with a healthy AI agent pipeline and growing demand for agency discovery and governance.

Palantir’s Chief Technology Officer, Shyam Sankar, has warned that China is developing advanced AI models using unauthorized work from Silicon Valley, posing an economic threat to the US. Sankar claims these “distillation attacks” involve training new models using results from American AI systems, allowing Chinese developers to replicate capabilities at lower cost. He also cited growing opposition to data centers in the US as a bigger economic threat, referencing New York’s recent one-year moratorium on new data centers.

Publicis Groupe is expanding beyond traditional advertising, adding data, technology, and AI capabilities to its operations. The company has struck deals valued at three billion dollars in the first half of the year, acquiring LiveRamp Holdings, sports-marketing agency 160over90, and content-measurement specialist Adge.AI. Publicis also hired nearly two thousand four hundred people for its marketing operations, while rivals have been cutting jobs.

Red Cell Partners announced that Glenn Youngkin, former Governor of Virginia and former Co-CEO of The Carlyle Group, has joined as partner, chairman, and board member. Red Cell focuses on launching and scaling companies in national security, cyber, and healthcare technology.

Morgan Stanley has upgraded Rocket Companies to Overweight from Equal Weight, with a price target of nineteen dollars. The analyst notes that Rocket shares have priced in high mortgage rates and downside risks, but sees potential for strong earnings growth as the company continues to gain market share and execute on operating leverage.

SpaceX is set to attempt a major test flight of its Starship rocket today, a critical milestone for Elon Musk’s ambitions in space, satellite, and artificial intelligence. The launch, scheduled for five forty-five p.m. local time from Starbase in South Texas, will carry upgraded Starlink satellites intended to burn up in the atmosphere as part of the test. This is the thirteenth flight for Starship and the first since SpaceX’s blockbuster initial public offering in June, which raised eighty-six billion dollars.

Atlassian has announced new capabilities in Jira aimed at advancing AI-native software development. The launch addresses a productivity gap, as AI usage by engineers has increased by sixty-five percent, but developer velocity gains have plateaued at around ten percent. New features include agents in Jira, Jira for Slack, coding agents, automations, and agentic templates, all available to paid Jira Cloud customers at no additional cost.

Thinking Machines Lab, an AI startup founded by former OpenAI CTO Mira Murati, has released its first in-house AI model, called Inkling. Unlike flagship models from OpenAI, Anthropic, or Google, Inkling is “open-weight,” allowing outside developers to download and modify it directly. The company believes that adaptable AI models will outperform one-size-fits-all solutions, though it concedes that Inkling is not the strongest model available today.

Clear Street has initiated coverage of Block with a Hold rating and an eighty-two dollar price target. The analyst notes that Block’s fundamentals are improving and sees a credible path to margin expansion, but believes the market has already priced in much of the upside.

Turning to macroeconomic and policy developments:

Italy’s Prime Minister Giorgia Meloni has secured lower house approval for a key electoral reform bill, overcoming government infighting. The measure, which passed by a vote of two hundred seventeen to one hundred fifty-two, seeks to transform Italy’s political system into a proportional one with a seat bonus for election winners, aiming to produce more stable governments. The legislation now moves to the senate. The win comes at a delicate time for Meloni, who recently lost a referendum on judicial reform and faces a challenging election next year.

In Ukraine, President Volodymyr Zelenskyy’s dismissal of the popular defense minister, Mykhailo Fedorov, has sparked public criticism, dismay among foreign allies, and protests across the country. Thousands rallied in Kyiv to oppose the decision, with many praising Fedorov’s focus on developing Ukraine’s drone capabilities and his role in recent battlefield successes. European officials view the ouster as damaging for Ukraine, especially as Zelenskyy seeks more air-defense support from allies.

The United Kingdom government has been in talks with private equity firms to understand why British companies they own aren’t listing in London. General Atlantic, Elliott Management, and EQT are among the firms that have met with ministers and aides as the Treasury and Downing Street look for ways to revive listings on the London Stock Exchange. The outreach comes amid a dearth of IPOs, with only one sizable offering in London so far this year.

Taiwan Semiconductor Manufacturing has raised its spending and revenue projections for the year, reflecting confidence that strong demand for chips and data centers will continue into twenty twenty-seven and beyond. The company now expects capital expenditures of sixty to sixty-four billion dollars in twenty twenty-six, at least four billion higher than previously forecast. Revenue growth is projected to be slightly above forty percent, up from earlier guidance of thirty percent. Despite these bullish forecasts, TSMC’s American depository receipts fell about three percent in pre-market trading, as investors digest the implications of higher spending and elevated expectations.

South Korea will temporarily halt new listings of single-stock leveraged exchange traded products to curb market volatility, following a surge in popularity of funds tied to Samsung and SK Hynix. The ban will remain until market conditions stabilize. Authorities will also raise the minimum deposit requirement for leveraged ETF trading to thirty million won, or about twenty thousand three hundred dollars, from ten million won, effective August fifth. These measures are Seoul’s most comprehensive effort yet to cool a retail trading frenzy that has made the Korean equity market both one of the hottest and most turbulent in the world.

In Washington, Treasury Secretary Scott Bessent unveiled designs for a new “gold coin” featuring President Donald Trump’s image, to be released this fall in honor of the country’s two hundred fiftieth birthday. The coin, which will not contain actual gold, is being produced in Philadelphia and was approved by a federal panel earlier this year.

In event-driven news, President Trump has urged military contractors to speed up production, singling out General Dynamics during a defense summit in Pennsylvania. Trump expressed frustration with what he sees as slow delivery of weapons systems and munitions, particularly as US stockpiles are under pressure from support for Ukraine and ongoing conflict with Iran. General Dynamics is investing two point five billion dollars in submarine construction, and Trump emphasized the need to accelerate production.

ABB has agreed to acquire British industrial components company Rotork for an enterprise value of around five point five billion dollars, marking its largest-ever acquisition. Rotork investors will receive five pounds and three pence per share in cash, a premium of about sixty percent on the latest three-month average price. Rotork specializes in equipment for controlling the movement of liquids and gases in pipelines and plants, with significant exposure to energy and water infrastructure. The deal is the latest in a series of foreign acquisitions of UK firms this year.

Looking at key charts and structural market trends:

Retail investors remain the strongest structural buyers of US equities, showing no signs of broad selling, according to Citadel.

Fed futures markets are now pricing in nearly fifty basis points of rate hikes by the end of the year, reflecting expectations for tighter monetary policy.

Prediction markets are indicating a declining probability that the Strait of Hormuz will return to normal operations by the end of twenty twenty-six, highlighting ongoing geopolitical risk in global energy markets.

On the credit side, deposit growth is outpacing the expansion in commercial bank lending, suggesting that banks should have capacity to extend more credit in the months ahead.

That wraps up today’s key markets and headlines. Thanks for listening.