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SG Reits dropped slightly today along with DBS & UOB while OCBC seemed to settle down. I expect a tiny rise in the US markets after the drawdown yesterday but shouldn't be any huge surprises heading into the weekend. Trump's claims to not attack Iran during the midterms is one to monitor closely

I personally believe the massacre of SG bank stocks are overdone. A pullback was always on the cards, but this has spilt over to the whole STI index. Moreover, Citi's analyst hasn't always given the right calls as well. And that's the tough part of being an analyst. It is a challenge to analyse and make a projection because when things go the exact opposite, your credibility drops as well.

$JPMorgan Chase(JPM.US)

Context: Chase for Business, JPMorgan Chase's (JPM), is expanding services to eligible Business Banking customers by adding Chase Payroll, powered by Gusto, to banking and payment activities that business customers already manage through Chase, the company said Wednesday. Recent Chase research indicated that 89% of small business owners said they would find it valuable to manage payroll within the same platform they use for business banking and payments. Chase Payroll is the latest addition to the bank's growing line of value-added services, which includes solutions such as Business Credit Journey, Customer Insights, and Invoicing.

My Trade: One of the best traditional bank stocks to hold for compounding and dividends. I will look to add below $300.

Takeaway: The move highlights the importance of small business customers even for the largest bank in the U.S. by assets. @Captain's Treasure

Nvidia has been on the rise lately with strong continued upward momentum which is refreshing for a top leading chip and AI company that I believe is still undervalued and underloved. I will be watching closely to see if this momentum can hold and whether it can finally break past the resistance

$Microsoft(MSFT.US)

Context: Microsoft is advancing its Copilot strategy into a broader AI platform to drive revenue across Azure and Microsoft 365 amid surging demand. Jim Cramer and analysts highlight Microsoft as a top AI leader capable of offsetting rising interest rate pressures through strong product momentum.The company is significantly expanding its data center infrastructure and computing capacity to support its multi-model AI expansion and rising capital expenditures. Oppenheimer analyst Brian Schwartz said Microsoft’s latest Copilot strategy transforms the product from a chatbot into what he views as an AI operating system. The shift could boost engagement, retention and monetization across Azure and Microsoft 365. He raised his Microsoft price forecast to $570 from $515 and named the stock a top pick.

My Trade: Accumulating and holding on to Microsoft - the 6 months dip and wait was worth it in the long run.

Takeaway: Azure is growing in the low-40% range, while Microsoft has guided for growth to accelerate into the mid-40% range this quarter. Gowth approaching 50% at a business already exceeding $100 billion in scale could support a higher valuation. @Captain's Treasure

The reduced board lot size for SGX stocks are now live, and I expect to see increased trading volume for the typical blue chip bank stocks. One thing I'm taking note of is also the upcoming Xtrackers etf that is going to list on SGX in SGD.

Job reports are out, with the labour market faltering in September with a lower increase in jobs by just 29,000, well below the forecast of 84,000. With a lower than expected growth, concerns over inflation eases slightly and rate hike probability hence drops further for October, albeit likely to have 1 more in November/December.

$IREN(IREN.US)

Context: IREN shares have lost about 5% last week even as demand for the company’s AI computing capacity remains strong. The concern is what that growth will cost. IREN plans $25 billion to $30 billion of fiscal 2027 capital spending, raising questions over financing and future returns. Against a planned $25 billion to $30 billion of fiscal 2027 spending, IREN has about $14 billion of cash, committed GPU financing and customer prepayments. It is targeting another $8 billion from GPU financing and prepayments, with the remainder expected from data center financing, operating cash flow and other sources. That does not mean IREN needs to raise $30 billion from shareholders. But it does mean the company still has to secure billions more in funding, build the capacity on time and generate enough revenue from it to justify the cost.

My Trade: Holding on to my current position and looking to add if it drops below $40. Looking for a long term target once the company starts turning profitable.

Takeaway: The funding has become more expensive as borrowing costs have risen. The U.S. 10-year Treasury yield touched 5.34% Thursday, its highest since 2002, increasing the cost of financing a buildout on this scale. This is one of the recent concerns. @Captain's Treasure

Tech stocks are edging slightly higher today ahead of Micron's earnings after market closes. Can good earnings help its share price to consolidate and stay above $1000 or will profit taking outweigh the bullish momentum and falls back to resistance? Let's find out tomorrow morning.

$Microsoft(MSFT.US)

Context: Microsoft had its price target upped by research analysts at Piper Sandler from $550.00 to $610.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an "overweight" rating on the software giant's stock. Piper Sandler's price target points to a potential upside of 19.85% from the company's current price. Some positive news include Microsoft bringing OpenAI’s autonomous “Dots” agents into its enterprise security and governance framework. The move could help Microsoft monetize AI workers across corporate systems while strengthening Azure and Microsoft 365 adoption. Copilot and Azure growth also remain key catalysts: Analysts point to Azure growth above 40%, rapidly expanding paid Copilot seats, a large commercial backlog and new usage-based AI revenue opportunities.

My Trade: More than happy to have Microsoft sitting in my portfolio as one of the compounding stocks over time. The company is finally getting some love after having its share price dropped and stayed relatively lower for a long period of ~8 months while others rallied.

Takeaway: However, heavy infrastructure spending may continue to pressure cash flow and margins, and OpenAI-related risks are also increasing: Microsoft reportedly faces a cap on revenue sharing from OpenAI, while OpenAI is also introducing workplace tools that increasingly overlap with Microsoft Office. That could weaken the economics or strategic value of the partnership. @Captain's Treasure

I think one of the big news this week is Micron's earnings as it affects many other companies that have a customer/seller relationships with Micron like TSM, Nvidia, AMD etc. With the bullish momentum of Micron, I will not be surprised to see a 6 to 10% move either ways post earnings. I have one concern though: Taiwan's workers are still seeking a long term fair system where they get to share 15% of Micron's operating profits. How will this situation pan out? How will Micron settle the situation & what will this signal to shareholders as well?

$Corning(GLW.US)

Context: AT&T and Corning entered into a multi-year agreement to supply the fiber and cable AT&T needs to bring fast, reliable internet to more Americans as demand grows. Fiber is the gold standard for home internet. AT&T Fiber can deliver speeds 3x faster than satellite1 services and the capacity to handle how people stream, work, game, video chat, create and use AI today, with room for whatever comes next. AT&T's powerful combination of fiber and wireless makes connectivity simple for customers at home, at work and on the go. Satellite will complement those networks by helping extend connectivity in roughly 2% of remote areas where fiber and wireless may not be available.

My Trade: This is why I am comfortable with holding Corning in my portfolio. It has been a stable and consistent electronic components company for decades, and with the recent optical communications boom, I believe the growth potential is still intact.

Takeaway: This agreement supports the American economy by building on AT&T's investments in critical connectivity infrastructure and its fully unionized frontline workforce, along with Corning's extensive U.S. advanced manufacturing operations and American-made products. @Captain's Treasure

I think this market weakness will spillover to October. Singapore's inflation is now over the annual 2% target and unemployment period is also getting longer, a potential warning for the foreseeable future.

Muse has taken me by surprise as it leads Meta back up to above $700, with strong signs that this rally could continue. It has accumulated the most downloads on iOS and Google Play stores in an increasingly crowded market for consumer AI assistants. The statistic, while exceptional, only shows the positive side of the coin. There are still data privacy concerns, with users still worried about the mismanagement of sensitive user data

$NVIDIA(NVDA.US)

Context: "At some point demand and supply will be inverted again,” Jensen Huang said on The Ezra Klein Show. “That’s just the nature of markets.” Huang Sees a ‘Period of Digestion’, where markets would slow and enter a “period of digestion,” potentially lasting six months, nine months or a year. However, the distinction matters. Huang isn’t arguing that the AI investment cycle can continue indefinitely. He’s arguing that the industry remains years away from building more capacity than customers need. For now, spending continues to accelerate.

My Trade: Nvidia is one of the stocks I can invest in and just close the app to sleep soundly. The organisational structure is intact, with clear & consistent leadership and progress over the years. I am holding on for now.

Takeaway: Nvidia reported second-quarter revenue of $96.2 billion, up 106% from a year earlier, while Data Center revenue surged 117% to $89 billion. If anything, the AI spending and revenue is far from over. @Captain's Treasure

Cryptocurrencies have been on the surge, along with the tech powerhouses as AMD crosses a new milestone yesterday and Meta rising from the dead as well. It seems like capital is pouring in once more as FED's rate hike settles down.