Market Summary

July 15 Closing: Chip stocks drove U.S. markets higher, with a rebound fueled by mild inflation data.

Top 20 U.S. stocks by trading volume on July 15: IBM shares plummeted over 25% following an earnings warning.

Popular U.S.-listed Chinese stocks were mixed on July 15, with XPeng up 3.28% and Baidu down 3.23%.

Commodities Overview: Oil prices increased, lead prices declined, and gold prices rebounded.

European equities advanced as U.S. inflation data eased concerns over further interest rate hikes.

Macroeconomic Developments

Former President Trump stated that pressure on Iran will continue.

He reiterated that no one should charge fees for passage through the Strait of Hormuz.

Trump proposed replacing proposed shipping fees for the Strait of Hormuz with trade and investment agreements with Gulf nations.

U.S. June CPI showed a deceleration in price increases, though inflationary pressures persist.

Federal Reserve Chair Warsh downplayed the CPI data's impact, reaffirming a commitment to combating inflation and central bank reform.

Trump announced a potential "massive" oil deal with Iraq.

U.S. officials stated that military forces are launching a new round of airstrikes against Iranian targets.

Trump suggested Iran could be added to a potential sanctions bill against Russia.

The U.S. military announced it has reinstated a maritime blockade against Iran.

U.S. Central Command confirmed a new round of strikes against Iran.

The military indicated that additional attacks on Iran commenced at 3 p.m. ET on Tuesday.

The U.S. House of Representatives passed a bill to make Daylight Saving Time permanent.

Iran's vice president stated that the U.S. breaking its commitments was anticipated.

The Iranian military claimed ongoing strikes against U.S. bases in the region.

Iran asserted that it must control the entire Strait of Hormuz during wartime.

Iran's Revolutionary Guard said it struck U.S. bases in Bahrain and Kuwait.

Foreign holdings of U.S. Treasury debt increased in May, with Canada seeing the largest rise.

The U.S. expressed support for an Iraq-Syria oil pipeline project to diminish Iran's influence.

Corporate News

Warren Buffett plans to dispose of all his Berkshire Hathaway holdings within eight years, with no donation to the Gates Foundation.

SK hynix shares surged on its third trading day in the U.S. market.

IBM stock crashed 25%, marking its largest single-day decline on record, following a second-quarter earnings warning.

The earnings warning from IBM triggered a cascading sell-off in the software sector.

IBM revenue missed expectations, leading to its biggest drop since at least 1968, with the CEO acknowledging "execution shortcomings."

Current and former employees filed a lawsuit against Meta, alleging discriminatory practices in its use of AI for layoffs.

Goldman Sachs aims to raise $10 billion through a high-grade bond issuance.

OpenAI is developing an AI-powered smart speaker, designed as an avatar companion, as its first hardware product.

Disney is scheduled to release its fiscal Q3 2026 earnings after the market closes on August 5.

Franklin Templeton announced distribution plans for its closed-end funds for July through September.

Amazon and Microsoft are leading a data center demand surge, with operators seeking billions in financing.

Uber is in advanced talks to acquire Delivery Hero, a move that could reshape the global food delivery landscape.

Reports suggest TSMC plans to raise prices for mature-node chips, with Wedbush signaling this to investors.

Oracle launched a unified AI Agent development tool, blending no-code and professional development features.

Deutsche Bank's Frankfurt branch was subject to a raid by German authorities.

Apple stock received a rare bearish rating from KeyBanc, citing concerns over demand and valuation.

Electric vehicle maker Lucid's stock hit a record low, plunging 57% after it hired restructuring advisors.

JPMorgan Chase is advising employees to be cautious about using expensive AI for simple tasks, as corporate executives grow concerned about costs.

Analysis and Commentary

Fed Chair Warsh gave his first hints since taking office on how to address inflation.

Warsh stated current core inflation measures are inadequate and expressed being "very interested" in finding new monitoring tools.

July 15 Global Headlines: IBM stock plunges, OpenAI developing AI smart speaker, Warsh reaffirms anti-inflation and reform stance.

U.S. Equities: The S&P 500 rebounded as cooling U.S. inflation eased rate hike fears.

Crude Oil: Prices rose to a one-month high amid escalating Middle East conflict.

U.S. Bond Market: Treasuries rallied on cooling inflation, reducing market bets on Fed rate hikes.

Fed Governor Bowman stated banks should not be "micro-managed" on issues like AI.

Iran's Revolutionary Guard claimed it attacked U.S. assets in Bahrain and Kuwait.

New York Forex: The U.S. dollar index weakened as cooling inflation dampened rate hike expectations.

European Bond Market: German government bond prices rebounded as expectations for rate hikes diminished.