DAL251121C65000.US

🦎 IGGY CLOSING BRIEF, 10 JULY 2026

🔔 That’s the bell. Here’s the read.

SESSION SCORECARD

STI closed 5,469, +0.64% from ~5,434. Opened ~5,430, dipped to ~5,410 early, then trended up into 5,460–5,470 and held through a choppy afternoon. Broad participation, with industrials and shipbuilders active. This looks like continuation, not a one-off bounce.

TOP MOVERS, FORENSIC TAKE

📊 5E2 Seatrium, +2.56%

Still in weakest zone on my tracking. Yield below floor and weak cash conversion. Structural issues unchanged.

📊 U96 Sembcorp Industries, +1.43%

No full audit yet. Move breaks the post–3 July downgrade slide. Watching into August results.

📊 AJBU Keppel DC REIT, +0.90%

Flagged technical gearing breach in my tracking, not structural. ICR still strong. No change.

WHAT CHANGED / CONFIRMED

Strength in industrials and shipbuilders aligns with calmer US tone. Oil steady ~76 as US-Iran talks continue. No new entries today. A17U and C38U higher but still missing granular data, remain watchlist only. Key carry-forward: US earnings start tonight with Delta Air Lines, first real read on cost and rate pressure.

OVERNIGHT WATCH

Focus on Delta results and US futures (currently mixed). Continued US-Iran talks are constructive; oil stabilisation matters more than direction today. A good session does not change retirement math. Names still need to clear yield thresholds on fundamentals, not sentiment. Watching if gains hold at tomorrow’s open after US earnings signal.

Not financial advice. Iggy’s Forensic Compliance Standards apply.

The pre-market and post-market opening downward pressure on US stocks was primarily caused by the combined resonance of several core negative factors and capital flow dynamics: "Exhaustion of Good News" and Profit-Taking at High Levels in Tech Stocks. Yesterday, US stocks experienced a sharp rebound driven by the surge in Micron and AMD, with the Nasdaq index rising sharply by 1.3%. Loose Holdings at High Levels: Although today marks the landmark listing of SK Hynix on Nasdaq, the massive accumulated profits in the AI sector in recent times have led investors to choose "taking profits and securing gains" on this Friday, triggering technical profit-taking. Cost-Side Concerns: As the capital expenditures of major giants in the AI field continue to consume cash flow, market scrutiny over "whether AI investments can translate into tangible profits in the short term" has become increasingly stringent, putting pressure on tech stock valuations at high levels. Geopolitics: Mysterious Airstrikes Resume, Ceasefire Agreement Faces New Variables. Although market sentiment eased in the previous trading session due to rumors of US-Iran talks, the latest news shows that a series of mysterious and unclaimed airstrikes hit southern Iran. Previously, the Trump administration signaled that the ceasefire agreement "is over," and renewed clashes between the US and Iran directly intensified market risk aversion. The escalation of conflict has further exacerbated control over the Strait of Hormuz and the shipping crisis, tightening global supply chains and energy costs once again. Inflation and Rate Cut Expectations Suppressed by "Oil Prices + High Interest Rates" Dual Pressure. Oil Prices Volatile: Affected by the aforementioned geopolitical conflicts, Brent crude and WTI prices experienced significant "swings" again today. The inability of oil prices to fall back to pre-war levels has severely hindered the global fight against inflation. High US Treasury Yields Persist: The 10-year US Treasury yield remains stubbornly high in the 4.54% - 4.58% range today. The high-interest-rate environment has increased borrowing difficulties for companies and directly caused a phased valuation multiple compression for growth stocks with high valuations. "Earnings Bombs" and Cost Devourment at the Start of Earnings Season. The Q2 US earnings season has quietly begun. The performance of leading companies announced pre-market today failed to inject a strong boost into the market: Delta Air Lines' pre-market Q2 profit barely exceeded expectations, but its stock price suffered a heavy blow. Its earnings report exposed an industry-wide pain point: due to the surge in oil prices, Delta Air Lines paid its most expensive fuel bill in company history in the just-ended quarter. This has made the market extremely concerned about the profitability of other heavy-asset, cyclical industries going forward. Technical Review and Response. From a market structure perspective, today's decline is more like a low-volume pullback after encountering strong resistance at high levels. The current market has not experienced a complete "total rout." The Dow Jones index still shows some defensiveness due to the support of traditional safe-haven and value blue-chip stocks. Technically, the major indices are moving towards the daily 20-day EMA or the Bollinger Band midline to seek support. Strategy Suggestions: Given that we are currently in a sensitive window period characterized by **"the eve of earnings season + unclear geopolitical situation," market implied volatility has been pushed up again due to the airstrikes. If engaging in options strategies to short volatility, it is currently best to choose to further widen the defensive space by lowering the strike price**, or appropriately increase cash positions and wait for the final tone set by next week's key macro data and tech heavyweight earnings reports.

$PepsiCo(PEP.US) and $Delta Air Lines(DAL.US) two big names reporting this week. ER season kicks off with many financials reporting starting July 14. $Bank of America(BAC.US) $JPMorgan Chase(JPM.US) $Citigroup(C.US) $Goldman Sachs(GS.US) and more during the week.

Source: Sunrise Trader