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Microsoft's strong Azure growth and disciplined capex demonstrate exactly that, while Meta's weaker free cash flow highlights the risks of aggressive AI spending without meaningful near term returns. This earnings season, the market is rewarding AI investments that deliver real growth, earnings and cash flow not just higher spending.

Singapore stocks continue to show resilience despite global market volatility. Strong performance from DBS and OCBC has supported the STI, while SIA's results highlight the impact of rising oil prices on airlines.With DBS earnings next week, the focus is on whether strong bank results can keep the STI's momentum going. Staying selective and focusing on quality companies with strong cash flow remains the key strategy

$Keppel(BN4.SG)Keppel continues to strengthen its bullish momentum, reclaiming the S$12.00 level as investors respond positively to its latest asset monetisation strategy. The trend remains constructive with higher highs and higher lows, supported by improving market sentiment. It’s plan to monetise up to 10 legacy oil rigs through the newly established Keppel Offshore Fund. The first phase involves selling six operational rigs for around S$1.2 billion, with Apollo committing US$1.5 billion to the fund. Expected to add approximately S$3.9 billion to Keppel’s funds under management while unlocking capital for future growth and strengthening its asset-light business model.

Fundamentally, Keppel continues its transformation from a traditional conglomerate into a global asset manager focused on infrastructure, real estate, connectivity and energy transition. Capital recycling, growing recurring fee income and disciplined monetisation provide greater earnings visibility and improve long term shareholder value.

📊 With Singapore equities remaining resilient and Keppel’s strategic execution gaining traction, the medium term outlook remains positive.Watching upcoming earnings for further updates on asset monetisation progress, funds under management growth and management’s outlook. A sustained break above S$12.20 could open the door for another leg higher

Big Tech remains resilient while semiconductor stocks consolidate after strong AI gains. This week's tech earnings and the Fed decision will determine whether the AI rally resumes or volatility persists.

Apple's bullish momentum remains intact after briefly touching a $5 trillion market cap, with upcoming earnings and AI strategy expected to determine whether the rally can continue.

STI remains near record highs, supported by strong banks and steady inflows. Bank earnings, the Fed decision, and U.S. tech results are key catalysts, with oil prices posing a volatility risk.SIA posted its first quarterly loss in nearly four years as higher fuel costs offset record revenue. Oil prices and travel demand remain the key factors to watch.

With STI performance increasingly driven by domestic fundamentals, the upcoming DBS, OCBC and UOB earnings will be closely watched for signs of continued resilience and strength

Well established blue chip names such as Singtel, Keppel and the local banks remain on investors watchlists, with potential opportunities emerging when valuations become more attractive.

Meanwhile, lower oil prices could provide further support by easing inflation pressures, while the Fed’s policy outlook and upcoming U.S. economic data will remain key drivers of global market sentiment.

$NU Holdings(NU.US)NU continues to strengthen its position as one of the fastest-growing digital banks in Latin America. Despite recent market volatility, the company’s fundamentals remain solid, supported by rapid customer growth, expanding profitability, and continued investment in AI-driven banking services.

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- Q2 earnings expected to show continued customer and revenue growth.

- 130M+ customers with rising monetization per active user.

- Filed for a U.S. banking license, opening a potential new growth market.

- Heavy investments in AI, infrastructure, and new financial products.

- ESG initiatives and stronger cybersecurity enhance long-term competitiveness.

The combination of strong revenue growth, expanding ecosystem, AI investments, and U.S. expansion provides a compelling long term story. If earnings confirm continued execution, current weakness could present another opportunity to accumulate rather than chase higher prices. Patience and disciplined position sizing remain important

The market is focused on the Fed's upcoming decision and guidance, which will shape interest rate expectations and investor sentiment.

Lower oil prices could ease inflation concerns and provide support for broader equities, despite pressuring energy stocks.

Nvidia's continued expansion into AI infrastructure reinforces confidence in the long-term AI growth story.

These developments are creating a more positive risk-on environment across global markets.Whether the rally continues will depend on the Fed's message and upcoming Big Tech earnings meeting market expectations.

$Daiwa Hse Log Tr(DHLU.SG)Defensive Income Play While Markets Stay Volatile - With AI stocks under pressure and bond yields rising, keeping an eye on quality dividend REITs like DHLU REIT.

Despite near term market volatility, DHLU continues to offer an attractive distribution yield backed by long term logistics assets. While higher interest rates may weigh on REIT sentiment, resilient logistics demand and stable occupancy provide support for long term income investors.

* Stable rental reversions and occupancy

* Distribution sustainability

* Interest rate outlook after the upcoming Fed meeting

* Continued growth in logistics and e-commerce demand

📊Short term consolidation but the long term income story remains intact. Patience and dividend compounding continue to be my strategy

$Singtel(Z74.SG)Singtel continues to show resilience despite broader market volatility. While profit-taking has emerged after its recent rally, the stock remains supported by its defensive earnings, healthy dividend yield and growing contribution from regional associates and digital infrastructure assets.

With oil prices above US$100 and global markets turning more cautious, defensive names like Singtel could continue to attract investors seeking stability. The next key catalyst will be upcoming earnings, where the market will focus on guidance, dividend sustainability and business growth.

📊 Singtel holds above the S$4.35 support area, recent pullback as consolidation rather than a trend reversal. Watching for opportunities to accumulate on weakness while collecting dividends

With oil elevated and yields climbing, volatility continues to shape market sentiment as market participants recalibrate risk exposure.

STI remains supported by resilient bank earnings and a defensive sector mix. If banks deliver MAS stays supportive and oil prices ease, the index could resume its uptrend after this consolidation.

Staying selective favoring fundamentally strong names, monitoring key support levels and maintaining some energy exposure while waiting for clearer signals from the next round of Big Tech earnings.

$Keppel(BN4.SG)Keppel is showing resilience despite weaker global market sentiment. While US technology stocks came under pressure after Alphabet and Tesla’s earnings, Keppel held relatively steady around support suggesting investors continue to favor quality Singapore blue chips with stable earnings and infrastructure exposure.

The longer-term investment story remains intact. Growth in infrastructure, data centres, energy transition, and asset management continues to support earnings, while analysts generally maintain positive views with target prices above current levels.

📊 Keppel holds above the support zone the broader uptrend remains constructive. A breakout above S$11.50 could open the way toward the next resistance, while any weakness toward support may provide opportunities for investors accumulating quality SGX names rather than chasing momentum

AI demand remains strong, but the market is becoming more selective. Investors are no longer rewarding companies simply for higher AI spending they want clear evidence that these investments will drive stronger earnings and cash flow. Alphabet's increased AI capex may weigh on near-term cash flow, but it also reflects management's confidence in the long-term AI opportunity. With earnings season, central bank decisions, and geopolitical risks likely to keep markets volatile, pullbacks in fundamentally strong AI and semiconductor companies could present attractive opportunities for long-term investors.

$Frencken(E28.SG)Frencken (E28) remains under pressure after the recent semiconductor sector correction, despite strong long-term demand for AI and advanced chip manufacturing.

Recent weakness reflects cautious sentiment toward semiconductor equipment stocks rather than a major change in fundamentals.Waiting for clearer confirmation that buying momentum has returned before adding to my position

A sustained rebound above key resistance with stronger volume would increase confidence that the uptrend is resuming.

📈 For now, patience may be the better strategy while waiting for clearer confirmation.

AI and semiconductor stocks have staged an impressive rebound, but waiting for earnings to confirm that the recovery is backed by fundamentals. Tonight's Tesla and Alphabet results could set the tone for the market's next move. Forward guidance and AI demand will matter more than the headline numbers. If management remains confident about AI-driven growth, accumulating quality companies on healthy pullbacks may offer a better opportunity than chasing the current rally

$SoFi Tech(SOFI.US)SoFi Technologies is trading around US$17.30 recovering alongside broader growth stocks as investors regain confidence in the AI and fintech sectors. While the stock remains below its recent highs, improving market sentiment and expectations for lower interest rate pressure are helping support a rebound ahead of earnings.

Attention now turns to SoFi’s Q2 earnings on July 29, where investors will be watching member growth, deposit growth, lending performance, financial services revenue, and management’s outlook. With options markets pricing in a significant post-earnings move, volatility is likely to remain elevated over the coming sessions.

📈 Cautiously Bullish – Long-term growth story remains intact, but near-term price action will likely be driven by earnings expectations and management guidance

AMD's Azure win and Google's custom AI chip efforts reinforce that AI demand remains strong beyond Nvidia.Current weakness as sector rotation rather than the end of the AI cycle. If chip stocks pull back while fundamentals remain intact, sentiment-driven weakness could present attractive opportunities to add quality AI names. At the same time, maintaining some energy exposure provides a useful hedge against higher oil prices and geopolitical risks.

$UMS(558.SG)UMS Integration continues to benefit from long-term AI and semiconductor equipment demand, but recent weakness across global chip stocks has weighed on sentiment. With the stock trading near a key support zone, investors will be watching for signs of stabilization as the market digests semiconductor earnings.

📊 A sustained move above S$2.60 could signal renewed bullish momentum and pave the way toward S$2.80–2.90. However, if semiconductor selling persists, expect the stock to consolidate around current levels before the next move.

UMS offers a compelling combination of AI exposure, solid earnings potential, and lower volatility than many semiconductor peers. For long-term investors, the current pullback could present an attractive accumulation opportunity while keeping an eye on the broader chip