- Barry Adams
- 14 Jul, 2026
- New York City
Wall Street indexes lacked direction in early trading on Tuesday, and investors reviewed the latest batch of earnings.
The S&P 500 Index decreased 0.1%, and the tech-focused Nasdaq Composite edged up 0.1% as investors shifted their focus to the start of earnings season.
JPMorgan Chase and Wells Fargo were in focus after the two leading banks reported better-than-expected results in the second quarter.
Market sentiment was subdued amid escalating tensions in the Middle East, and the U.S. and Iran continued to exchange military strikes over the Strait of Hormuz.
The West Texas Intermediate crude oil price rose 3.5% to $80.94 a barrel, and the Brent crude oil price increased 4.7% to $87.25 a barrel as commercial shipping remained disrupted for the second consecutive week.
The dual blockade of the narrow passageway is forcing many shipping companies to avoid the shipping channel and seek alternative passage after the U.S. president proposed a flat fee of 20% for shipments passing through the Strait of Hormuz.
U.S. Movers
JPMorgan Chase decreased 2.6% to $326.0 despite the New York-based bank reporting better-than-expected second quarter results.
Revenue increased 15% to $57.4 billion from $44.9 billion, net income advanced 28% to $21.2 billion from $15.0 billion, and diluted earnings per share rose to $7.70 from $5.24 a year ago.
“Performance was strong across the firm, and revenue in each line of business hit a new record," said Chairman and CEO Jamie Dimon in a statement released to investors.
Average deposits increased 7%, average loans rose 10%, and debit and credit card sales volume advanced 10% from a year ago, respectively.
In the quarter, the bank booked $4.6 billion of net gains related to Visa shares, or $1.27 per share, and $1.0 billion of gains on certain equity investments, or 29 cents per share.
Bank of America edged down 0.5% to $59.20 after the company reported better-than-expected second quarter results.
Total revenue increased 15.3% to $31.6 billion from $27.4 billion, net income advanced 26.4% to $9.1 billion from $7.2 billion, and diluted earnings per share rose to $1.21 from 90 cents a year ago.
Higher interest rates supported the 9% jump in net interest income to $16.0 billion, and provision for credit losses decreased to $1.4 billion from $1.6 billion in the period a year ago.
The company returned $8.0 billion to shareholders, including $2.0 billion in dividends and $6.0 billion in common stock repurchases.
Wells Fargo decreased 1.6% to $86.27 despite the bank reporting strong results in the second quarter.
Total revenue increased 9% to $22.6 billion from $20.8 billion, net income advanced 16% to $6.4 billion from $5.5 billion, and diluted earnings per share rose to $2.0 from $1.60 a year ago.
Net interest income rose 5% and non-interest income advanced 13%, driving the total revenue higher by 9%.
Average loans increased to $1.03 trillion from $916.7 billion, average deposits advanced to $1.46 trillion from $1.33 trillion, and return on equity jumped to 15.0% from 12.8% a year ago.
Goldman Sachs Group jumped 1.4% to $1,060.0 after the financial service provider reported better-than-expected results in the second quarter.
Total net revenue increased 39% to $20.4 billion from $14.6 billion, net income advanced 84% to $6.4 billion from $3.5 billion, and diluted earnings per share soared 92% to $20.98 from $10.91 a year ago.
The annualized return on average common shareholders' equity was 23.5% for the second quarter of 2026 and 21.7% for the first half of 2026.
Book value per common share increased by 1.8% during the second quarter of 2026 and by 2.8% during the first half of 2026 to $367.67.
- Akira Ito
- 14 Jul, 2026
- Tokyo
Japan's stocks came under pressure amid escalating tensions in the Middle East and renewed skepticism over the AI trade.
The Nikkei 225 Stock Average decreased 0.5%, and the broader TOPIX edged higher by 0.3% as investors feared prolonged supply chain disruptions in the Strait of Hormuz.
The Brent crude oil price rose 1.8% to $84.59 a barrel as the U.S. and Iran reimposed their dual blockade in the narrow passageway used by several oil-producing Gulf nations.
The sharp sell-off in advanced chipmakers in overnight trading in New York also weighed on the market sentiment amid renewed worries that the current level of AI infrastructure investment is likely to end faster than previously expected.
Moreover, investors are worried that the latest run in AI-related stocks is way ahead of market fundamentals, and future corporate earnings are likely to level off or fall off sharply as hyperscalers cut their investment spending.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.5% to 66,919.40, and the broader TOPIX advanced 0.3% to 4,018.51.
Kioxia Holdings declined 3.3% to ¥64,870.0, Taiyo Yuden dropped 4.6% to ¥11,350.0, Murata Manufacturing decreased 4.4% to ¥8,665.0, and Fujikura Ltd. fell 6.4% to ¥4,695.0.
- Akira Ito
- 14 Jul, 2026
- Tokyo
Japan's stocks came under pressure amid escalating tensions in the Middle East and renewed skepticism over the AI trade.
The Nikkei 225 Stock Average decreased 0.5%, and the broader TOPIX edged higher by 0.3% as investors feared prolonged supply chain disruptions in the Strait of Hormuz.
The Brent crude oil price rose 1.8% to $84.59 a barrel as the U.S. and Iran reimposed their dual blockade in the narrow passageway used by several oil-producing Gulf nations.
The sharp sell-off in advanced chipmakers in overnight trading in New York also weighed on the market sentiment amid renewed worries that the current level of AI infrastructure investment is likely to end faster than previously expected.
Moreover, investors are worried that the latest run in AI-related stocks is way ahead of market fundamentals, and future corporate earnings are likely to level off or fall off sharply as hyperscalers cut their investment spending.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.5% to 66,919.40, and the broader TOPIX advanced 0.3% to 4,018.51.
Kioxia Holdings declined 3.3% to ¥64,870.0, Taiyo Yuden dropped 4.6% to ¥11,350.0, Murata Manufacturing decreased 4.4% to ¥8,665.0, and Fujikura Ltd. fell 6.4% to ¥4,695.0.
- Li Chen
- 14 Jul, 2026
- Hong Kong
Stocks in China traded mixed amid rising geopolitical uncertainty and ahead of the release of the second-quarter economic growth estimate.
The Hang Seng Index declined 0.8%, and the mainland-focused CSI 300 Index declined 0.5% as investors reviewed another down day in global AI-related stocks.
Memory chipmakers and other advanced semiconductor-related stocks faced selling pressure amid worries that prices are ahead of near-term fundamentals, and they could search for lower lows.
Brent crude oil prices rose 1.8% to $84.72 a barrel after the U.S. and Iran stepped up military exchanges over the Strait of Hormuz.
Commercial shipping traffic has come to a near standstill as the U.S. and Iran sent conflicting signals, and the U.S. imposed a 20% fee for safe passage through the narrow passageway.
China's Exports Surge, Overcoming Global Tensions In June
China's exports and imports soared in June as foreign and domestic customers ramped up purchases amid heightened geopolitical uncertainty.
China's exports advanced 27% to $412.4 billion, and imports expanded 36% to $286.8 billion, resulting in an increase in the trade surplus to $125.6 billion from $105.4 billion in the previous month.
In the first half, exports increased 17.6% to $2.1 trillion and imports advanced 26.6% from a year ago, respectively, according to the latest data released by the General Administration of Customs on Tuesday.
Direct exports to the U.S. increased by 13.9%, exports to ASEAN advanced by 34.6%, and exports to the European Union expanded by 18.5%.
The stable supplies to the Middle East, the AI boom, and the rush ahead of potential new U.S. tariffs all contributed to the sharp rise in shipments, while higher commodity prices increased the total import bill.
Shipments of automobiles soared 53%, integrated circuits increased 7%, and LCD flat-panel modules jumped 10.7%; however, exports of rare earth decreased by 6.4%, refined products by 13.2%, and steel by 5.6%.
China Indexes and Stocks
The Hang Seng Index fell 0.8% to 24,019.92, and the mainland-focused CSI 300 Index decreased 0.5% to 4,672.26.
China Construction Bank decreased 0.1%, China CITIC Bank increased 0.9%, Bank of China declined 0.6%, and ICBC fell 0.3%.
SMIC fell 4.4%, Tencent Holdings decreased 1.3%, and Alibaba Group Holding declined 2.2%.
- Li Chen
- 14 Jul, 2026
- Hong Kong
Stocks in China traded mixed amid rising geopolitical uncertainty and ahead of the release of the second-quarter economic growth estimate.
The Hang Seng Index declined 0.8%, and the mainland-focused CSI 300 Index declined 0.5% as investors reviewed another down day in global AI-related stocks.
Memory chipmakers and other advanced semiconductor-related stocks faced selling pressure amid worries that prices are ahead of near-term fundamentals, and they could search for lower lows.
Brent crude oil prices rose 1.8% to $84.72 a barrel after the U.S. and Iran stepped up military exchanges over the Strait of Hormuz.
Commercial shipping traffic has come to a near standstill as the U.S. and Iran sent conflicting signals, and the U.S. imposed a 20% fee for safe passage through the narrow passageway.
China's Exports Surge, Overcoming Global Tensions In June
China's exports and imports soared in June as foreign and domestic customers ramped up purchases amid heightened geopolitical uncertainty.
China's exports advanced 27% to $412.4 billion, and imports expanded 36% to $286.8 billion, resulting in an increase in the trade surplus to $125.6 billion from $105.4 billion in the previous month.
In the first half, exports increased 17.6% to $2.1 trillion and imports advanced 26.6% from a year ago, respectively, according to the latest data released by the General Administration of Customs on Tuesday.
Direct exports to the U.S. increased by 13.9%, exports to ASEAN advanced by 34.6%, and exports to the European Union expanded by 18.5%.
The stable supplies to the Middle East, the AI boom, and the rush ahead of potential new U.S. tariffs all contributed to the sharp rise in shipments, while higher commodity prices increased the total import bill.
Shipments of automobiles soared 53%, integrated circuits increased 7%, and LCD flat-panel modules jumped 10.7%; however, exports of rare earth decreased by 6.4%, refined products by 13.2%, and steel by 5.6%.
China Indexes and Stocks
The Hang Seng Index fell 0.8% to 24,019.92, and the mainland-focused CSI 300 Index decreased 0.5% to 4,672.26.
China Construction Bank decreased 0.1%, China CITIC Bank increased 0.9%, Bank of China declined 0.6%, and ICBC fell 0.3%.
SMIC fell 4.4%, Tencent Holdings decreased 1.3%, and Alibaba Group Holding declined 2.2%.
- Barry Adams
- 13 Jul, 2026
- New York City
Stocks on Wall Street traded down on Monday amid growing uncertainty in the Middle East and lingering concern about the stretched valuations of the AI-related stocks.
The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.9% following another day of sell-off in memory stocks.
SK Hynix dropped as much as 9% in early trading following South Korean chipmakers' U.S. debut on Friday, when it soared 13%.
Investors are increasingly questioning the recent run in stock prices of AI-linked stocks and whether the demand boom for memory modules justifies the current rally.
While AI spending by hyperscalers remains enormous, questions on the scale of investment, lagging returns, and financing costs have begun to weigh on the entire sector.
Memory makers are certainly hoping that the latest business cycle is likely to extend several more years by locking customers into longer-term contracts.
However, the circular financing is likely to weigh on chipmakers' earnings in 2027 and beyond, and investors are wondering if all of the future growth is already reflected in current valuations.
Crude oil prices increased 3.5% to $73.65 a barrel as the U.S. and Iran exchanged fire over the Strait of Hormuz. The sharp escalation in fighting over the weekend supported the worry that energy-product supply disruption is likely to last longer than previously estimated.
Later in the week, investors are awaiting the release of earnings from major banks and brokerage houses—including JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Morgan Stanley, and Goldman Sachs.
Johnson & Johnson, Netflix, and UnitedHealth are scheduled to release their quarterly updates.
About 27 S&P 500 companies are scheduled to release their quarterly results later this week.
On the economic front this week, investors are awaiting the release of inflation and consumer sentiment and comments from Fed Chair Kevin Warsh.
- Barry Adams
- 13 Jul, 2026
- New York City
Stocks on Wall Street traded down on Monday amid growing uncertainty in the Middle East and lingering concern about the stretched valuations of the AI-related stocks.
The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.9% following another day of sell-off in memory stocks.
SK Hynix dropped as much as 9% in early trading following South Korean chipmakers' U.S. debut on Friday, when it soared 13%.
Investors are increasingly questioning the recent run in stock prices of AI-linked stocks and whether the demand boom for memory modules justifies the current rally.
While AI spending by hyperscalers remains enormous, questions on the scale of investment, lagging returns, and financing costs have begun to weigh on the entire sector.
Memory makers are certainly hoping that the latest business cycle is likely to extend several more years by locking customers into longer-term contracts.
However, the circular financing is likely to weigh on chipmakers' earnings in 2027 and beyond, and investors are wondering if all of the future growth is already reflected in current valuations.
Crude oil prices increased 3.5% to $73.65 a barrel as the U.S. and Iran exchanged fire over the Strait of Hormuz. The sharp escalation in fighting over the weekend supported the worry that energy-product supply disruption is likely to last longer than previously estimated.
Later in the week, investors are awaiting the release of earnings from major banks and brokerage houses—including JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Morgan Stanley, and Goldman Sachs.
Johnson & Johnson, Netflix, and UnitedHealth are scheduled to release their quarterly updates.
About 27 S&P 500 companies are scheduled to release their quarterly results later this week.
On the economic front this week, investors are awaiting the release of inflation and consumer sentiment and comments from Fed Chair Kevin Warsh.
- Akira Ito
- 10 Jul, 2026
- Tokyo
Japan's indexes rebounded on Friday and trimmed weekly losses, driven by buoyant investor sentiment towards technology- and semiconductor-related stocks.
The Nikkei 225 Stock Average gained nearly 2%, the broader TOPIX advanced 0.8%, and the yen strengthened to 161.63 against the U.S. dollar.
The easing of crude oil prices also supported the market rally, helping curb inflation concerns and lowering pressure on Japan's energy import-dependent economy.
The yield on Japan's benchmark 10-year government bond edged lower to 2.79%, after briefly surpassing 2.9%
Japan's Producer Price Inflation Accelerated to 3-Year High In June
However, Japan's producer prices accelerated to their fastest pace in more than three years, confirming persistent cost pressures linked to the Middle East conflict and disruptions of supply chains in the Strait of Hormuz.
Japan's producer price inflation accelerated to an annual pace of 7.1% in June from the upwardly revised 6.6% in the previous month, according to the Bank of Japan.
The wholesale inflation measure rose at the fastest pace since March 2023, driven by persistent higher fuel prices linked to the conflict in the Middle East and lingering supply chain disruptions.
The persistent increase in oil and derivative products is seeping into wider sectors of the economy as the imported-oil-dependent Japan scrambles to seek alternative sources amid higher shipping costs.
The price increases initially visible among products directly linked to crude oil are starting to spread to consumer goods, a Bank of Japan official said.
Inflation for petroleum and coal accelerated to 22.8% from 13.7%, chemicals advanced to 14.4% from 14.3%, and information and communications advanced to 14.5% from 13.7% in the previous month, respectively.
Overall, import prices jumped 29.7% from a year ago, the largest pace of annual increase since the gain of 42.3% in October 2022, supported by a weaker yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1.9% to 69,056.76, and the broader TOPIX advanced 0.8% to 4,051.27.
Technology stocks led gainers in Friday's trading in Tokyo.
Kioxia Holdings jumped 2.1% to ¥79,510.0, Murata Manufacturing advanced 4% to ¥9,848.0, Tokyo Electron added 3.1% to ¥73,250.0, and Advantest Corp. increased 3.2% to ¥30,120.0.
- Akira Ito
- 10 Jul, 2026
- Tokyo
Japan's indexes rebounded on Friday and trimmed weekly losses, driven by buoyant investor sentiment towards technology- and semiconductor-related stocks.
The Nikkei 225 Stock Average gained nearly 2%, the broader TOPIX advanced 0.8%, and the yen strengthened to 161.63 against the U.S. dollar.
The easing of crude oil prices also supported the market rally, helping curb inflation concerns and lowering pressure on Japan's energy import-dependent economy.
The yield on Japan's benchmark 10-year government bond edged lower to 2.79%, after briefly surpassing 2.9%
Japan's Producer Price Inflation Accelerated to 3-Year High In June
However, Japan's producer prices accelerated to their fastest pace in more than three years, confirming persistent cost pressures linked to the Middle East conflict and disruptions of supply chains in the Strait of Hormuz.
Japan's producer price inflation accelerated to an annual pace of 7.1% in June from the upwardly revised 6.6% in the previous month, according to the Bank of Japan.
The wholesale inflation measure rose at the fastest pace since March 2023, driven by persistent higher fuel prices linked to the conflict in the Middle East and lingering supply chain disruptions.
The persistent increase in oil and derivative products is seeping into wider sectors of the economy as the imported-oil-dependent Japan scrambles to seek alternative sources amid higher shipping costs.
The price increases initially visible among products directly linked to crude oil are starting to spread to consumer goods, a Bank of Japan official said.
Inflation for petroleum and coal accelerated to 22.8% from 13.7%, chemicals advanced to 14.4% from 14.3%, and information and communications advanced to 14.5% from 13.7% in the previous month, respectively.
Overall, import prices jumped 29.7% from a year ago, the largest pace of annual increase since the gain of 42.3% in October 2022, supported by a weaker yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1.9% to 69,056.76, and the broader TOPIX advanced 0.8% to 4,051.27.
Technology stocks led gainers in Friday's trading in Tokyo.
Kioxia Holdings jumped 2.1% to ¥79,510.0, Murata Manufacturing advanced 4% to ¥9,848.0, Tokyo Electron added 3.1% to ¥73,250.0, and Advantest Corp. increased 3.2% to ¥30,120.0.
- Li Chen
- 10 Jul, 2026
- Hong Kong
China's indexes advanced on Friday as investors searched for bargains in the recently beaten-down semiconductor- and AI-linked stocks.
The Hang Seng Index increased 1.8%, and the mainland-focused CSI 300 Index gained 0.5% as investors awaited the release of a barrage of key economic data next week.
China's statistical bureau is set to release monthly updates on international trade, retail sales, industrial production, second-quarter GDP growth, and the urban jobless rate.
Market sentiment recovered towards the semiconductor-related stocks following the strong demand for the U.S. public offering of South Korea's SK Hynix, one of the three leading memory companies in the world.
ChangXin Memory Technologies, or CXMT, set July 16 as its subscription date for the listing of its share on the Shanghai Stock Exchange.
The Anhui-based DRAM maker is set to raise as much as 29.5 billion yuan, or $4.3 billion, and the company plans to sell 6.7 billion new shares, representing 10% of its enlarged share capital.
The global DRAM market remains highly concentrated, and Micron Technology, Samsung Electronics, and SK Hynix account for 90% of the global market in 2025.
CXMT holds 7.7% of the global market in the final quarter of 2025, according to the company's prospectus quoting Omdia data.
China Indexes and Stocks
The Hang Seng Index increased 1.8% to 24,455.57, and the mainland-focused CSI 300 Index advanced 0.5% to 4,900.20.
For the week, the Hang Seng Index soared 4.5%, and the mainland-focused CSI 300 Index advanced 0.7%.
Hygon International gained 3.3%, NAURA Technology decreased 0.9%, Eoptolink Technology advanced 1.3%, and SMIC jumped 3.9%.
- Li Chen
- 10 Jul, 2026
- Hong Kong
China's indexes advanced on Friday as investors searched for bargains in the recently beaten-down semiconductor- and AI-linked stocks.
The Hang Seng Index increased 1.8%, and the mainland-focused CSI 300 Index gained 0.5% as investors awaited the release of a barrage of key economic data next week.
China's statistical bureau is set to release monthly updates on international trade, retail sales, industrial production, second-quarter GDP growth, and the urban jobless rate.
Market sentiment recovered towards the semiconductor-related stocks following the strong demand for the U.S. public offering of South Korea's SK Hynix, one of the three leading memory companies in the world.
ChangXin Memory Technologies, or CXMT, set July 16 as its subscription date for the listing of its share on the Shanghai Stock Exchange.
The Anhui-based DRAM maker is set to raise as much as 29.5 billion yuan, or $4.3 billion, and the company plans to sell 6.7 billion new shares, representing 10% of its enlarged share capital.
The global DRAM market remains highly concentrated, and Micron Technology, Samsung Electronics, and SK Hynix account for 90% of the global market in 2025.
CXMT holds 7.7% of the global market in the final quarter of 2025, according to the company's prospectus quoting Omdia data.
China Indexes and Stocks
The Hang Seng Index increased 1.8% to 24,455.57, and the mainland-focused CSI 300 Index advanced 0.5% to 4,900.20.
For the week, the Hang Seng Index soared 4.5%, and the mainland-focused CSI 300 Index advanced 0.7%.
Hygon International gained 3.3%, NAURA Technology decreased 0.9%, Eoptolink Technology advanced 1.3%, and SMIC jumped 3.9%.