Track the evolution of major financial and economic events
Silver prices (XAG/USD) fell toward the $57.00 level on July 16, driven by ongoing geopolitical tensions in the Middle East. By July 20, spot silver rose 1.8% to $56.85 an ounce but faced strong resistance at the $57.50 level. Prices were further influenced by Brent crude climbing above $90 a barrel as the US-Iran conflict neared a broader regional war.
The EUR/USD pair approached the 1.1600 resistance level after surpassing the previous weekly high of 1.1435, driven by a bullish shift in the Relative Strength Index (RSI). By July 20, the pair faced technical hurdles near 1.1500, while a rising channel formed on the 4-hour chart with support at 1.1400. Despite struggling to break higher, the Euro remained supported above the 1.1365 level against the US Dollar.
Ethereum's price pushed back above the $1,800 key resistance level on July 15 as buyer confidence recovered. Market watchers attribute this price action to renewed momentum ahead of the anticipated Ethereum ETF listings. The breakout follows a previous testing of this resistance level, driven primarily by market anticipation of the upcoming exchange-traded fund launches.
President Trump held a positive meeting with lawmakers to discuss crypto legislation ethics, though his stance on his personal crypto wealth initially created uncertainty in Clarity Act negotiations. On July 21, Trump signed new ethics provisions prohibiting federal officials from issuing cryptocurrencies. The U.S. Department of Justice has been designated to enforce these new regulatory ethics rules.
Pentair plc is facing legal investigations by multiple firms, including Hagens Berman and Kirby McInerney LLP, regarding potential securities law violations and fraud. The probes follow the company's announcement of reduced full-year guidance and the unexpected resignation of its CFO, which triggered a 15% drop in stock price. Investigators are focusing on whether unsustainable sales practices were used to artificially inflate past revenue figures.
Wabtec was expected to report double-digit earnings growth for Q2 2026 despite facing higher operating costs and supply-chain pressures. On July 22, the company officially beat analyst expectations for both earnings and revenue, alongside positive results from peers like PulteGroup. Markets remain focused on upcoming reports from Norfolk Southern and Ameriprise Financial to further assess transportation sector performance and growth indicators.
BlackRock CEO Larry Fink expressed bullish sentiment regarding Bitcoin's stability and growth over the next 12 months, noting that the leverage washout which previously crashed markets is now over. The firm aims to offer tokenized long-term investments, including Treasury funds and iShares ETFs. Fink highlighted that Bitcoin is currently exhibiting increased stability at its present price levels.
Options markets are signaling a potential 12% to 15% swing in QuantumScape's share price surrounding its Q2 earnings report on July 22. The company is expected to report wider losses driven by ongoing spending on its pilot production lines. This pricing reflects significant volatility expectations from traders ahead of the upcoming financial results.
Several Nasdaq-listed companies faced regulatory challenges in mid-July. On July 15, JBDI Holdings received a delisting determination after failing to meet the $1 minimum bid price requirement. This was followed by ICZOOM Group receiving a deficiency notice on July 16 for unfiled financial statements, and Huadi International receiving a notice on July 17 for failing to maintain the minimum bid price.
The ECB is expected to keep interest rates unchanged at 2.25% during its July 23 meeting, while maintaining the option for a 25bp hike in September. Recent data shows tighter borrowing conditions in the Euro area, with 42% of firms reporting higher loan rates in Q2. While analysts generally expect rates to remain steady this Thursday, some experts suggest that a surprise rate hike cannot be entirely ruled out.
William Blair expects Coinbase's earnings to bottom in the second half of 2026, with a potential rebound anticipated next year. While Citigroup reduced its price target from $400 to $235, Benchmark reaffirmed its Buy rating for the stock. Meanwhile, the company is expanding its platform into Canada despite a 25% year-to-date decline in stock price and a current market capitalization of $45.54 billion.
U.S. national debt has surpassed 100% of the country's GDP for the first time since the World War II era, reaching a total of $39.4 trillion. The Congressional Budget Office projects that under current fiscal policies, the debt-to-GDP ratio will climb to 175% over the next 30 years. This milestone has triggered economic warnings regarding fiscal sustainability, while concurrent reports highlight concerns over the potential impact of AI on increasing wealth inequality.
Kraken Institutional has partnered with Upshift to develop dedicated vaults designed to earn yield on idle Bitcoin, Ethereum, and stablecoins. In tandem, the exchange introduced a new lineup of options contracts for both BTC and ETH. Subsequently, Kraken launched USD-settled Bitcoin and Ethereum options on its Kraken Pro platform.
Wall Street analysts adjusted their price targets for Microsoft stock ahead of its fiscal Q4 earnings release on July 29, while maintaining bullish ratings. Investor attention is primarily focused on Azure cloud performance and Copilot's revenue contributions. Additionally, BNP Paribas expects the upcoming report to show accelerations in both revenue growth and capital expenditure.
ServiceNow and AT&T are bracing for significant stock volatility ahead of their Q2 earnings reports, with expected price swings of 11% and 4.3% respectively. ServiceNow is projected to report $3.92 billion in revenue, a 22% year-over-year increase driven by strong AI adoption and subscription growth. While analysts maintain optimistic price targets, the outlook remains tempered by rising operational costs, market competition, and valuation risks.
The US IPO market rally is expected to broaden into a more diversified pipeline beyond tech deals during the second half of 2026. Significant activity was noted globally as SBI Funds Management shares jumped 9% in its Indian debut, marking the country's largest IPO of the year so far. Furthermore, Market Technology priced its initial public offering at $200 million on July 23.
Progressive reported Q2 results that exceeded revenue and EPS expectations, despite a decline in overall net income. The stock fell 8% following reports of margin pressure and a 31% drop in June net income. While analysts lowered price targets due to these pressures, fair value estimates remain in the $230–$235 range with a 4.2% investment book yield.
Wall Street is focusing on upcoming tech earnings, with Alphabet expected to show growth and potentially beat market estimates, while the options market prices in a 5.4% share swing. Texas Instruments and TE Connectivity have also been identified as likely candidates to exceed earnings expectations next week. Meanwhile, ServiceNow is projected to see earnings growth but lacks the specific indicators typically associated with an earnings beat.
US regional banks, including Northern Trust and Banc of California, are expected to see earnings growth in their Q2 reports. Northern Trust shows indicators of a likely earnings beat with expectations of double-digit revenue growth reaching $2.35 billion. The bank is projected to report quarterly earnings of $3.45 per share as it heads into its official results.
The USDCAD pair faced significant selling pressure following weaker-than-expected US inflation data, breaking key technical support levels and stabilizing near resistance zones at 1.4068 and 1.4077. Markets are currently awaiting the Bank of Canada's rate decision and US retail sales data to determine the next fundamental direction, amid mixed US Dollar performance and rising Treasury yields. Meanwhile, US equity futures pointed to a weak opening led by a sell-off in tech stocks, and the USDJPY pair fluctuated following Japanese comments on domestic investment.
Johnson & Johnson (JNJ) shares experienced volatility despite a strong Q2 earnings beat and an upward revision of its full-year 2026 guidance. While the stock initially saw modest gains, it later declined as the company's MedTech unit missed market expectations. This price action reflects investor reaction to the contrast between overall financial strength and specific segment underperformance.
NVIDIA CEO Jensen Huang confirmed that the next-generation Vera Rubin platform is currently in production, dismissing reports of development delays. Japan announced plans to acquire 27,500 Rubin chips as part of a $2.4 billion initiative to capture 30% of the global robotics market by 2040. Additionally, X-energy joined NVIDIA and AWS in the $60 million Project Prometheus, a U.S. Department of Energy-backed mission utilizing AI to accelerate the deployment and reduce costs of advanced nuclear reactors.
KeyCorp raised its Q2 2026 EPS estimate for AT&T to $0.62, maintaining an Overweight rating as the company benefits from a stable wireless industry and fiber expansion. While growth is supported by innovative wireless plans and price increases, risks remain regarding spectrum purchases and competition from cable companies. Recently, AT&T shares dipped in premarket trading due to concerns over free cash flow outlooks ahead of its upcoming earnings report.
Goldman Sachs reported strong Q2 earnings driven by the AI investment cycle, featuring a 39.5% revenue increase and a 92% surge in EPS. In response to these results, analysts raised price targets for GS stock as the bank increased dividends by 11.1% and executed $4 billion in share buybacks. While the Platform Solutions segment faced headwinds from Apple Card loan markdowns, the bank also adjusted price targets for other entities like Regeneron Pharmaceuticals following the broader market performance.
