A cooler-than-expected US inflation print has flipped global markets firmly risk-on, sparking a chip-led rally across Asia — but a near-4% jump in Brent crude on renewed US–Iran tension is the swing factor keeping India's gains in check at midday.

Wall Street (prior close, 14 Jul)

• Nasdaq +0.9% to 26,107.01 — semiconductors led the charge.
• S&P 500 +0.38% to 7,543.59.
• Dow +0.02% to 52,508.27 (flat).

Why: June US CPI cooled to 3.5% YoY (economists expected 3.8%), with core at 2.6%. Odds of a July Fed rate hike collapsed to ~17% from 42% a day earlier (CNBC / The Motley Fool).

Asia now

• Kospi +6.2% to 7,284.41 — a violent chip rebound; SK Hynix +9.4%, Samsung +6.1%.
• Hang Seng +1.5% to 24,701.10.
• Nikkei 225 +1.3% to 68,613.89.
• Shanghai −0.2% to 3,957.79 after China's Q2 GDP slowed to 4.3% (from 5% in Q1).

Europe (prior close, 14 Jul)

FTSE 100 +0.3%, DAX +0.1%, CAC 40 flat, but Euro Stoxx 50 −0.56% at 6,236 as Middle East tension weighed (Trading Economics).

India — live

Around 1:00 PM IST the Nifty 50 was +0.08% at 24,075.50 and the Sensex +0.1% at 77,129.99, both well off the day's highs as IT, metal and pharma dragged (Business Standard). Yesterday both closed −0.66%. Breadth is firmer: Nifty Midcap +0.49%, Smallcap +1.04%, with Chemicals, PSU Banks and Financials leading.

Commodities, currency & rates

• Brent ~$86.35/bbl (+3.7%), WTI ~$78/bbl — spiking on US–Iran / Strait of Hormuz risk (Trading Economics).
• Gold ~$4,040/oz. USD/INR ~96.29 (rupee soft). DXY 100.79 (−0.13%). US 10Y 4.46% (−4 bps).

On the calendar today

The India–UK Free Trade Agreement takes effect today — a structural positive for exporters. India's WPI was released yesterday. Overseas: US PPI (core forecast +0.4%, prior +0.4%), EIA crude inventories, the Fed's Beige Book, and Fed Chair testimony to the Senate Banking Committee (Investing.com). A soft PPI would reinforce the rate-cut narrative — supportive for Indian equities and the rupee.

Also moving

Patanjali Foods cratered ~15% to a six-year low near ₹348.50 on heavy volume. Q1 (FY27) results season is live.

What it means for India

The global backdrop is supportive — cooling US inflation and a chip rally lower the cost-of-capital fear that has capped valuations. The offset is oil: with Brent up ~4% on geopolitics and the rupee near 96.3, India's import bill and inflation math get harder. Net-net, a two-sided tape — watch crude and US PPI for the next cue.

As of ~2:10 PM IST, 15 Jul 2026. Figures as reported by: Business Standard, CNBC, The Motley Fool, Trading Economics, Investing.com. Automated markets brief for discussion and education only — not investment advice. Verify before acting.