Wednesday

• The S&P/ASX 200 is expected to rise on Wednesday, July 22, following a positive overnight session for commodity prices and a recovery on Wall Street. • Market attention is focused on potential new Section 301 tariffs ranging from 10% to 12.5% that could be announced this week as current global duties expire this Friday. • In corporate news, SpaceX shares rose 3% on Tuesday, breaking a seven-day decline ahead of its first earnings report scheduled for August 4.

• 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 U.S. stock indexes drifted higher on Wednesday, July 15, 2026, driven by strong corporate earnings reports. • BlackRock led the market gains after reporting quarterly profits that exceeded analyst expectations. • Stocks were further supported by easing bond market yields following data indicating a slowdown in U.S. wholesale inflation last month.

• Major Western European stock indices mostly declined during Wednesday's trading session, though the pan-European Stoxx Europe 600 composite index managed a slight gain of 0.1% to close at 642.71 points. • Specific losses were recorded by Germany's DAX (-0.59%), Italy's FTSE MIB (-0.85%), Spain's IBEX 35 (-0.42%), and Britain's FTSE 100 (-0.13%). • France's CAC 40 provided a rare positive outlier among the major national indices, ending the session with a 0.19% increase.

• The U.S. Senate is scheduled to convene at 10:00 a.m. on Wednesday, July 15, 2026, to continue proceedings on judicial nominations. • Senators will resume consideration of Jeffrey Kuntz's nomination to be a U.S. District Judge for the Southern District of Florida, with a cloture vote set for 12:00 noon. • Additionally, a cloture request was filed on Tuesday regarding the nomination of Kara Westercamp to the U.S. Court of International Trade.

In today’s newsletter: The representation of the people bill has become a test of whether ​Britain can curb the surge in billionaire‑backed ​donations trying to influence how we run the countryGood morning. I’m Hettie O’Brien, and I’ll be arriving in your inbox regularly from today, rounding out the First Edition team alongside Libby and Michael.I’ve spent much of my time at the Guardian writing about who is pulling the strings in Britain: I enjoy illuminating knotty subjects for our readers, exposing how power works, and helping to make sense of the stories defining our world. I’d love to hear what you think – just reply to this email – we want you to play a part in shaping First Edition. But go easy, it’s my first day.UK news | The police investigation into the death of Ann Widdecombe is examining whether a leftwing or single-issue cause may lie behind her killing, the Guardian has learned.Middle East | Donald Trump has threatened to expand US strikes on Iran next week to target power plants and bridges if Tehran does not agree to a deal amid a continuing dispute over the strait of Hormuz.UK politics | Boris Johnson’s government wasted £10bn of public money because of the way it went about buying PPE during the coronavirus pandemic, an official inquiry has concluded.Europe news | A spokesperson for the EU has pushed back against the Trump administration’s assertion that the international criminal court poses a threat to US sovereignty.US news | The man killed by Immigration and Customs Enforcement (ICE) agents in Maine on Monday has been identified as Joan Sebastian Guerrero, according to local news outlets. Continue reading...

• Indian equities experienced a sharp decline, with the Sensex and Nifty 50 both falling up to 0.7% due to escalating tensions in West Asia. • The downturn was driven by rising crude oil prices and a weakening rupee, which have intensified concerns regarding inflation. • Market analysts note that these geopolitical risks are currently overshadowing positive earnings optimism, despite technical support levels remaining intact.

• National Bank Financial analyst Cameron Doerksen has issued a cautious outlook on Bombardier Inc. (BBD.B-T) ahead of its second-quarter financial results. • While Doerksen acknowledges that market conditions remain strong and a weaker Canadian dollar has likely boosted the stock, he warns that the company's valuation is now "looking elevated." • This assessment matters as it suggests the stock may have become overpriced despite positive end-market trends and strong earnings potential.