Business & Markets — July 21, 2026

Dimon warns on market risk. JPMorgan Chase CEO Jamie Dimon said markets underestimate geopolitical and economic risks. And he would not buy stocks or long-term Treasurys at current prices.

Per CNBC, the JPMorgan chief's caution stands in sharp contrast to the optimism investors have displayed recently. His reluctance covers both equities and long-dated government debt, suggesting his concerns are broad-based rather than tied to a single asset class, and puts one of Wall Street's most prominent voices at odds with prevailing market sentiment.

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TSMC plans chip price increases. Taiwan Semiconductor Manufacturing plans to raise chipmaking prices by up to 10% in 2027, Nikkei Asia reports, potentially raising smartphone and AI chip costs.

Yahoo Finance, citing Nikkei Asia, said the planned increase could ripple beyond smartphone and AI chip costs into consumer electronics pricing more broadly. Because the change would not take effect until 2027, its impact on device makers and their customers would unfold over the coming years rather than immediately.

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General Motors reports Q2 results Tuesday. Analysts expect adjusted earnings of $3.20 per share on revenue of $47.01 billion, a key test for the automaker as tariff uncertainty lingers.

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Gas tops $4 per gallon again. The national average crossed $4 for the second time this month as Strait of Hormuz disruptions persist; Goldman Sachs warns oil could exceed $120 per barrel.

Axios reports the price surge comes as President Trump appears poised to escalate the war with Iran, with tanker traffic through the strait severely disrupted. Goldman Sachs' warning is conditional: crude would need the waterway to remain blocked to push past the $120 threshold, a scenario that would translate into further increases at the pump beyond current levels.

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