Market

• The Nasdaq and S&P 500 rose on July 21, 2026, driven by strong corporate earnings reports that lifted overall market sentiment. • Key corporate drivers included General Motors beating second-quarter expectations and Nvidia disclosing a strategic stake in Nebius. • Investors are balancing these gains against geopolitical instability as traders monitor new U.S. military strikes against Iran.

• European shares saw a slight increase on Tuesday, with the pan-European STOXX 600 index rising 0.1% to reach 640.61 points. • Market sentiment was bolstered by falling oil prices, which were driven by reports of mediation efforts between the United States and Iran. • This recovery follows a weak start to the week as investors shift their focus toward a new cycle of corporate earnings reports.

• US stock markets climbed, led by the Nasdaq, as optimism surrounding artificial intelligence fueled a rally in technology and semiconductor shares. • Chipmakers like Micron, AMD, and Intel surged following strong export data from Taiwan and South Korea, signaling continued high demand for AI chips. • While General Motors rose on better-than-expected earnings, other major companies including Amazon, Walmart, and IBM experienced crashes.

• Beijing-based startup Moonshot AI has developed the Kimi K3 AI model, which reportedly delivers performance levels that rival top industry offerings from OpenAI and Anthropic. • The model's high capabilities are causing significant ripples in the global AI market as China seeks to close the gap with U.S. technology leaders. • This development is critical because it demonstrates that Chinese firms can produce competitive large language models despite ongoing international trade restrictions on high-end chips.

• Gabriel India has appointed Mahendra K Goyal as group CEO and managing director for a five-year term and approved a Rs. 2,231 crore acquisition of a 28.99% stake in HL Mando Anand. • Hind Rectifiers is expanding its capital by allotting 10.8 lakh shares at Rs. 920.50 per share as part of a larger Rs. 1,000 crore preferential issue. • Centum Electronics faces a setback as the Lyon Economic Activities Court ordered the conversion of its entities' judicial reorganization into liquidation proceedings, effective July 2.

• Chinese AI model developers, including ZpuAI and Minimax, are experiencing extreme stock volatility despite entering the market before U.S. rivals like OpenAI and Anthropic. • Minimax saw a dramatic price swing, surging from an offering price of HK$165 to a peak of HK$1,330 in March, before crashing to HK$193.1 and recently rebounding to HK$222.4. • These companies focus on developing Large Language Models (LLMs) with a high "cost-to-cost ratio," prioritizing the balance between performance and price.

• Investor sentiment improved during the Asia session on July 21, 2026, following reports of proposed international mediation for a temporary ceasefire in the Middle East. • The news eased immediate market concerns regarding potential energy supply disruptions, causing crude oil prices to retreat from their recent highs. • Asian equity markets saw a recovery as a result of the geopolitical optimism, with notable gains recorded in Japan’s Nikkei and South Korea’s KOSPI.

• Wall Street indexes, including the Dow Jones, S&P 500, and Nasdaq, closed higher following a strong rebound in semiconductor stocks. • The market gains were driven by continued optimism surrounding artificial intelligence, which helped offset risks related to Middle East instability and tariff tensions. • Investors are currently positioning their portfolios in anticipation of upcoming key technology earnings reports.

• A new Harris Poll conducted exclusively for the Guardian reveals that 40% of Americans believe the stock market is designed only to benefit the top 1% of earners. • The survey focused on the investing habits and economic knowledge of U.S. citizens, highlighting a significant gap in perceived accessibility to financial markets. • These findings underscore a deep-seated belief among a large portion of the population that the broader economy is rigged against average investors.

• Scotiabank increased its price target for ATCO from C$70.00 to C$79.00 on July 21, 2026, maintaining a “sector perform” rating. • ATCO's shares were last traded at C$77.97, reflecting a market capitalization of C$7.87 billion and recent quarterly revenue of C$1.43 billion. • SoFi (NASDAQ:SOFI) shares rose 1.6% to $17.29 following new 2026 guidance projecting an adjusted net income margin near 21% for the second half of the year.

• Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan, has released top stock recommendations for July 21, 2026. • The recommended list includes Bank of India, Computer Age Management Services (CAMS), Bharti Airtel, and PFC. • Specifically for Bank of India, Mehta suggests buying in the Rs 146–147 range with a target of Rs 154 and a stop loss at Rs 141.30.

• China has released Kimi K3, a new AI model that is creating significant market volatility and challenging the global dominance of U.S.-based AI systems. • The model's emergence highlights the rapid advancement of Chinese AI capabilities and their potential to disrupt existing technological hierarchies. • For Canadian businesses and executives, K3 serves as a critical catalyst to evaluate whether their current systems can integrate and leverage breakthroughs regardless of their country of origin.

• Chinese entrepreneur Yang and colleagues from Tsinghua University developed Kimi, a "Chinese-first" large language model designed as an unlocked alternative to ChatGPT. • The introduction of Yang's "Moonshot" technology has caused significant market volatility, wiping billions in value from the world's most prominent AI companies. • Yang previously faced legal challenges and was brought before the Hong Kong International Arbitration Centre, where a settlement was eventually reached.

• Indian stock markets recently extended losses as weakness in large-cap stocks outweighed gains in broader indices, despite a decline in crude oil prices. • Market analysts expect sentiment to be driven by upcoming corporate earnings, geopolitical developments, and fluctuations in oil prices. • The Nifty 50 is projected to consolidate within a range of 23,800 to 24,350, while midcap stocks are expected to continue outperforming large caps.

• Major stock indexes rebounded on Tuesday, ending a three-session losing streak driven primarily by strong performance in chip stocks. • WTI oil prices rose significantly during the session, reaching their highest trading levels in more than five weeks. • The market shift indicates a recovery in investor confidence following a period of volatility and consecutive declines.

• Major US stock indexes, including the Dow Jones, NASDAQ, and S&P 500, traded higher on Tuesday, July 21, 2026. • The rebound follows a multi-day losing streak, with the market recovering after three consecutive sessions of losses. • Growth was primarily driven by a strong revival in semiconductor and technology shares, which helped offset ongoing geopolitical tensions.

• DeepSeek experienced the most significant growth among U.S. generative AI chatbots in July 2026 relative to its size. • This surge was driven by the April 24 launch of DeepSeek V4, an open-source frontier model featuring highly competitive pricing at $0.14 per million tokens. • The model's cost-efficiency is attracting developers and organizations that were previously priced out of more expensive proprietary AI alternatives.