Bloomberg Television·2026-07-13 23:01Market Overview & Macroeconomic Environment - The S&P 500 declined by 0.7% to 0.8% as investors faced a volatile start to the week, with the Nasdaq 100 falling by 1.8% to 1.9% [1][85][105][128] - Crude oil prices surged by approximately 9% to 10%, with Brent and WTI trading above $80 per barrel due to renewed geopolitical tensions in the Strait of Hormuz [1][82][85][130] - The 10-year Treasury yield rose by 5 basis points, while the 2-year Treasury yield reached its highest level since February 2025 [2][7][119] - Market participants are closely monitoring upcoming U.S. inflation data and the first congressional testimony of Fed Chair Kevin Warsh [3][7][86][209] Corporate Earnings & Sector Performance - The Philadelphia Semiconductor Index (SOX) experienced a significant selloff, dropping 25% over three weeks and falling 5% in a single day, reflecting investor deleveraging in the AI trade [6][129] - Major U.S. banks, including JPMorgan, Citigroup, Goldman Sachs, Bank of America, and Wells Fargo, are expected to report strong earnings, with the industry poised for record trading revenues [4][191][192][208] - Russell Investments agreed to be acquired by a group led by B Capital and CalPERS to enhance its AI-driven investment capabilities [11][13] - Chipotle Mexican Grill is expanding internationally into Mexico, with plans to open its first location in Monterrey and eventually expand to Mexico City by 2027 [34][40][42] - Michaels CEO David Boone reported that the company is growing sales and earnings, with a focus on reducing debt leverage following a refinancing earlier this year [71][72] Investment Strategy & Trends - Private equity firm New Mountain Capital noted that U.S. direct lending volume fell 50% quarter-over-quarter, yet fundraising momentum remains positive [160][161] - Analysts suggest that while AI-related capital expenditure remains high, there is evidence of real economic activity, with a $100 billion revenue run rate for major AI-relevant companies [137]