This content was published on
July 16, 2026 - 09:34
4 minutes
(Bloomberg) — Stocks mirrored the cautious moves across most asset classes as traders considered whether earnings justified further advances in the artificial intelligence trade and uncertainty swirled around the Middle East.S&P 500 futures were little changed, while those for the Nasdaq 100 fell 0.2%. A strong earnings beat and raised sales outlook from Taiwan Semiconductor Manufacturing Co. failed to trigger fresh gains for the sector that has fueled most of this year’s stock market gains. Europe’s Stoxx 600 dropped 0.2%.Brent crude wavered near $84.80 a barrel after the US military made its first attack on a vessel in the Persian Gulf since it reimposed its blockade of the country’s shipping. Treasuries edged lower, with the 10-year yield rising two basis point to 4.56%. The dollar was little changed, and gold on track for its first day of losses in three.Chipmakers’ leading role in this year’s equity advances is increasingly coming under strain as traders grapple with lofty stock valuations and whether AI hyperscalers are building more capacity than they will need. Investors are also looking for opportunities to rotate to other sectors within the AI trade that will benefit from the global buildout at more attractive prices.“There’s been a lot of concentration in the market and that means there’s little room for error,” Richard Flynn, managing director at Charles Schwab UK. “Global geopolitical risk is elevated and so there’s a relative tone of caution fundamentally looking at the macro outlook.”An outlier to Thursday’s subdued trading was in Seoul, where sharp volatility in its chipmaking heavyweight drove another steep decline in the Kospi Index.South Korean authorities announced a temporary halt to new listings of single-stock leveraged exchange-traded funds. Many market participants have blamed the products for intensifying swings because of the daily rebalancing flows required to maintain their promised return ratios.Corporate News:ABB Ltd. agreed to buy British industrial components company Rotork Plc for an enterprise value of around $5.5 billion to expand its automation business. Syngenta Group’s planned $5 billion Hong Kong initial public offering is facing delays as the seed and pesticide company waits for better conditions in the agriculture sector, according to people familiar with the matter. Nordea Bank reported second-quarter net fee and commission income that topped analyst estimates, as assets under management hit a record high. Uber Technologies launched a voluntary public takeover offer for Delivery Hero at €41.50 per share in cash. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.2% as of 8:32 a.m. London time S&P 500 futures were little changed Nasdaq 100 futures fell 0.3% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index fell 1.4% The MSCI Emerging Markets Index fell 1.2% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1468 The Japanese yen was little changed at 162.07 per dollar The offshore yuan was little changed at 6.7684 per dollar The British pound was little changed at $1.3533 CryptocurrenciesBitcoin fell 0.8% to $64,412.38 Ether fell 0.4% to $1,914.92 BondsThe yield on 10-year Treasuries advanced two basis points to 4.56% Germany’s 10-year yield advanced one basis point to 3.13% Britain’s 10-year yield advanced three basis points to 4.97% CommoditiesBrent crude fell 0.2% to $84.78 a barrel Spot gold fell 0.9% to $4,024.50 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
