Captain's Watch
2026.07.01 03:07

☕️ [Task Coins Giveaway] Daily Market Talk — Burry Shorts Nvidia, Tesla & Caterpillar

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US stocks just wrapped their best quarter since 2020, then Michael Burry crashed the party with fresh shorts on $NVIDIA(NVDA.US) , $Tesla(TSLA.US) and $Caterpillar(CAT.US), calling it an AI bubble. Back home, S-REITs are recycling assets and your power bill just jumped 17%. Let's dig in 👇

📊 Quick Recap — What Moved & Why

🇺🇸 US — Best Quarter Since 2020, Then Burry Hit the Brakes

🔑 Key Event: The quarter went out at record highs. 📈 Dow +0.26% to 52,319 (second straight record), S&P 500 +0.79% to 7,449, Nasdaq +1.52% to 26,214, capping the best quarter for US indices since 2020, with the SOX chip index roughly doubling in the first half and chips now a record 19.7% of the S&P. Then Michael Burry stole the headlines: his latest filing showed a first-ever short on Caterpillar (at ~$1,061, after CAT nearly doubled this year), plus fresh shorts on Nvidia (~$198), Tesla (~$416), Applied Materials (~$729) and the semiconductor ETF (SOXX, ~$643), warning the AI rally has run past reason.

👀 Other to Watch

  • $Sandisk(SNDK.US) → ripped again as the best S&P stock of 2026 (+781% YTD), Bernstein lifting its target to $3,000; AMD +7% to a record and Intel +6% on Korea's roughly $1.3T Samsung and SK chip-AI bet.
  • $Nike(NKE.US) -2.7% after hours → Q4 revenue $10.97B (down slightly but a beat), EPS $0.72; Greater China -12%, though margins got a lift from a ~$986M tariff refund after the Supreme Court struck down many of Trump's global duties.
  • $Circle(CRCL.US) → sank double digits as Visa and Stripe rallied 100+ firms into stablecoins.
  • $Bloom Energy(BE.US) +9% → with Brookfield, upsized AI-datacenter power financing to $25B.
  • $South32 Ltd.(S32.AU) → selling most of its aluminium business to Alcoa for up to $5.6B (cash plus stock), refocusing on copper and zinc.

🇸🇬 Singapore — REITs Recycle, Power Bills Jump

🔑 Key Event: The STI is holding near its June 23 record of 5,241, with Singapore's AI-and-semiconductor export cycle keeping 2026 growth forecasts pinned near the top of the official 2 to 4% range. But households get a jolt: electricity tariffs rise 17% and town gas 7.1% for July to September (a 4-room HDB bill up about S$17/month), as Strait of Hormuz disruption keeps imported LNG costs elevated.

👀 Other to Watch

  • Frasers Centrepoint Trust ($Frasers Cpt Tr(J69U.SG)) → divesting White Sands mall for S$467M, an 8.4% premium to its May valuation; net S$454.1M cuts aggregate leverage from 40% to 36.5%, completing around Sep 30.
  • $SingTel(Z74.SG) → sold a 2.8% stake in Gulf Development for ~S$1.0B under its asset-recycling plan; AGM July 23.
  • $Jumbo(42R.SG) → JV with China's Laoxiangji to bring the Lausanjee quick-service chain to Singapore.
  • Import prices fell 1.6% in May on lower oil; ISOTeam ($ISOTeam(5WF.SG)) won new contracts and ValueMax ($ValueMax(T6I.SG)) priced S$80M of 4% notes.

🇭🇰 HK/China — Closed for the Holiday

🔑 Key Event: Hong Kong markets are closed today for SAR Establishment Day, so no cash trading. The regional tone stays tied to the same AI-chip narrative driving Wall Street, with Korea's mega chip bet the main talking point.

🌍 Other

  • Brutal quarter for havens and crypto → gold fell about 14%, its worst quarter in over a decade and first quarterly loss since 2024; Bitcoin fell to about $58.5k (down roughly a third YTD, the worst major asset); WTI sits around $69-70 after a sharp Q2 slide on Middle East de-escalation.
  • AI policy → the US reportedly eased export curbs on a top Anthropic model, with access set to resume midweek.
  • Fed → under Chair Warsh the tone stays hawkish; markets are eyeing September for the next move.

📅 Key Events Tonight / This Week

  • 🇪🇺 Fed Chair Kevin Warsh speaks at the ECB forum (Sintra) · Wed Jul 1, 21:30 SGT
  • 🌏 Chip "July price-hike wave" effective (Murata, Infineon, TI, MediaTek) · Wed Jul 1
  • 🇸🇬 URA Q2 private residential flash estimates · first week of July
  • 🇺🇸 US June Nonfarm Payrolls (cons. ~110-130k) · Thu Jul 2, 20:30 SGT
  • 🇺🇸 US stock and bond markets closed for Independence Day · Fri Jul 3

💬 US stocks just posted their best quarter since 2020 with chips now a record 19.7% of the S&P, and right on cue Michael Burry revealed fresh shorts against Nvidia, Tesla and Caterpillar calling it an AI bubble. Are you still riding the AI trade into Q3, or trimming into the euphoria?

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🚫 No duplicates · ⏰ Deadline: July 1, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏

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