--- title: "SG Morning Brief｜STI, DBS Dip as US Rate-Hike Bets Rise" type: "News" locale: "en" url: "https://longbridge.com/en/news/299954392.md" description: "STI closed at 5,709.91 (-0.24%) Wednesday as OCBC slipped; DBS ended at S$77.69. Wall Street eased after October Fed-hike odds hit 69%, gold tumbled 1.85% and yields neared 5%. Today: Darden, Costco earnings and weekly US jobless claims." datetime: "2026-09-24T00:08:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/299954392.md) - [en](https://longbridge.com/en/news/299954392.md) - [zh-HK](https://longbridge.com/zh-HK/news/299954392.md) generator: "portal-rs" --- # SG Morning Brief｜STI, DBS Dip as US Rate-Hike Bets Rise - **STI** closed at 5,709.91 on Wednesday, down 13.85 points (-0.24%); OCBC and Seatrium were the main drags. - **Banks diverged**: $DBS (D05.SG)$ ended at S$77.69 (-0.14%), $OCBC (O39.SG)$ at S$31.65 (-1.52%) and $UOB (U11.SG)$ at S$42.84 (+0.09%). - **Wall Street** eased overnight after traders lifted October Fed-hike odds to 69%; the 10-year Treasury yield stayed near 5% and gold tumbled 1.85%. - **Thursday queue**: Darden reports pre-market (8.30pm SGT) and Costco after the close; US jobless claims land at 8.30pm SGT. ## Singapore Open The Straits Times Index eased 0.24% on Wednesday to 5,709.91, pulling back modestly from recent record territory as $OCBC (O39.SG)$ and Seatrium weighed. The three local lenders diverged: $DBS (D05.SG)$ slipped 0.14% to S$77.69, $UOB (U11.SG)$ nudged up 0.09% to S$42.84, while OCBC fell 1.52% to S$31.65. Elsewhere on the blue-chip board, $Singapore Airlines (C6L.SG)$ added 0.76% to S$6.62, while $Singtel (Z74.SG)$ eased 0.93% to S$4.28. ## Singapore Macro MAS's July statement remains the cleanest local frame. Singapore's Q2 GDP surprised at 5.7% year-on-year, and core inflation is projected to rise into Q3 and stay elevated into H2 2027. After April's tightening — the first since 2022 — the September MAS Survey of Professional Forecasters shows 45% of respondents now expect another S$NEER slope increase at the October review, up from 30% previously, with 2026 core inflation pegged at 2.0%. The transmission for SGX: the October decision is the next local macro catalyst. A steeper appreciation path is a deliberate shield against imported energy inflation from the Hormuz-related oil shock. The wildcard is crude itself — Brent has retreated below $100 after six straight losing sessions, easing near-term imported-price pressure. If that slide holds, the case for aggressive October tightening softens, supporting bank net-interest margins and REIT financing costs. ## US Overnight The S&P 500 fell 0.72%, the Dow 0.71% and the Nasdaq 100 0.84% as traders repriced a 69% chance of an October Federal Reserve rate hike, per CME FedWatch, while Fed governor Michael Barr pushed for further tightening to control inflation. The 10-year yield hovered near 4.9-5.0%, around one-year highs. Key movers: $Nvidia (NVDA.US)$ lost about 1.4% as its record run paused — a mix of macro pressure and renewed worry that Google's TPUs and other in-house silicon are cutting Big Tech's dependence on its AI chips, even as Anthropic signs large supply deals. $Alphabet (GOOGL.US)$ dropped 3.29% (the Class C line roughly 3.5%) as Meta's Muse AI agent stoked fears of disrupted search-driven ad revenue, despite Google's new Gemini 3.8 text-to-speech launch. $McDonald's (MCD.US)$ fell 4.81% to $238.32 after mapping a 50-55% operating-margin target by 2030 with heavy restaurant investment, while $Meta Platforms (META.US)$ rose 1.71% on Muse hype. ## Asia Pre-Market US equity futures were little changed early Thursday, with S&P 500 futures roughly flat and Nasdaq futures marginally lower; the slide in oil and Washington's read that US-Iran talks were productive helped offset rate-hike anxiety, though Thursday-specific futures data was thin at writing. WTI traded around $89.6-90 a barrel after Wednesday's 0.97% dip, with Brent below $100 near $99. Gold slid 1.85% to about $4,278 an ounce as the dollar firmed — the $SPDR Gold Shares (GLD.US)$ ETF closed at $392.88, down about 1.8%. Bitcoin traded near $85,800, down less than 1%. ## Today's US Earnings and Economic Calendar | Company | Timing | Consensus EPS | | --------------------------- | ---------------------------- | ------------- | | Darden Restaurants (DRI.US) | Pre-mkt Thu, 8.30pm SGT | $2.05 | | Costco Wholesale (COST.US) | Post-mkt Thu, 5.03am SGT Fri | $6.55 | | SGT | ET | Event | Consensus | | ------------------- | ------- | ------------------------------------------- | ------------------- | | Thu Sep 24, 8.30pm | 8.30am | Initial Jobless Claims (wk Sep 19) | Prior 196k | | Thu Sep 24, 10.00pm | 10.00am | New Home Sales (Aug) | n/a | | Fri Sep 25, 8.30pm | 8.30am | Durable Goods Orders MoM (Aug) | -0.4% (prior +1.1%) | | Fri Sep 25, 10.00pm | 10.00am | U. Michigan Consumer Sentiment (Sep, final) | n/a | **Earnings Spotlight:** $Costco (COST.US)$ reports Q4 FY2026 after Thursday's close. Consensus calls for about $6.55 adjusted EPS on $94.85 billion revenue, up 10% year-on-year. Watch membership-fee income and whether tariff-related costs trim margins — Oppenheimer flags a possible miss once government tariff refunds are excluded. The print lands the same day as jobless claims and new-home sales, with August durable goods following on Friday. ## One More Thing Don't outsource the macro call to Wall Street. The overnight selloff is a repricing of the Fed path, not a read on Singapore. The cleaner local question ahead of October's MAS review: does oil keep deflating? Six straight losing sessions for Brent — now below $100 — are quietly reducing the imported-inflation pressure that would otherwise force a steeper S$NEER slope. If crude holds its break lower, the rate-sensitive part of SGX (banks and REITs) gets a tailwind; if Hormuz risk re-escalates, expect MAS to lean hawkish. Separate global Fed noise from Singapore's own currency-led policy path, and the next SGX move becomes easier to read. *Sources: MAS Monetary Policy Statement (July 2026), MAS Survey of Professional Forecasters (September 2026), Trading Economics, TheStreet.* *This briefing is compiled with AI assistance from market data and wire reports, and reviewed by the Longbridge editorial team before publication.* *This briefing is for informational purposes only and does not constitute investment advice.* ### Related Stocks - [COST.US](https://longbridge.com/en/quote/COST.US.md) - [DRI.US](https://longbridge.com/en/quote/DRI.US.md) - [COTG.US](https://longbridge.com/en/quote/COTG.US.md) - [COSW.US](https://longbridge.com/en/quote/COSW.US.md) - [O39.SG](https://longbridge.com/en/quote/O39.SG.md) - [D05.SG](https://longbridge.com/en/quote/D05.SG.md) - [STI.SG](https://longbridge.com/en/quote/STI.SG.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) ## Related News & Research - [What To Expect From Costco’s (COST) Q3 Earnings](https://longbridge.com/en/news/299837264.md) - [Hy-Vee refocuses on food and health amid retail shake-up](https://longbridge.com/en/news/299455347.md) - [Costco Q4 preview: Healthy earnings, margin risks, and anticipations of a ‘Christmas present’](https://longbridge.com/en/news/299921747.md) - [Costco (COST) Reports Q4 Earnings on Sept. 24 — Here's What Analysts Expect](https://longbridge.com/en/news/299341701.md) - [Costco Stock (COST): Evercore Backs Retail Giant Ahead of Q4 Earnings — Here's What It Expects](https://longbridge.com/en/news/299795074.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**