The Fed’s latest dot plot suggests policymakers remain cautious on inflation, with a growing minority expecting further tightening in 2026. The risk is that rates stay restrictive just as growth and labour markets soften, but easing too early could reignite price pressures. SpaceX’s pullback looks more like profit-taking after a strong run and lofty expectations; whether it becomes something larger depends on execution and valuation support. In Singapore, AI-driven memory demand benefits semiconductor-linked names such as UMS Holdings, AEM Holdings and Venture Corporation. Sustainability hinges on whether AI infrastructure spending remains robust beyond the current investment cycle.