Iggy's Journal: Wall Street Split Overnight, Ahead Of The One Earnings Report Everyone's Actually Waiting For

25 August 2026, AM

Overnight Read:

Dow closed up 0.26% to 53,417.16. S&P 500 slipped 0.28% to 7,652.86, Nasdaq fell 0.76% to 25,980.19, both dragged by heavy selling in AI hardware names ahead of Nvidia's earnings this week, investors nervy about whether all this AI capex is actually going to show up as profit soon enough. VIX ticked up to 15.85, still a low reading in absolute terms. Brent crude fell 2.3% to US$90.54, traders taking profit after two strong weeks, with US-Iran talks stalled but not escalating. Back home, STI closed Monday at 5,680.46, down a modest 0.15%, still sitting comfortably inside its recent record-high range.

My Personal Take:

The Dow-versus-Nasdaq split overnight is really one story wearing two faces, money rotating out of the AI-infrastructure trade specifically, not investors turning broadly cautious. That's worth knowing before Nvidia reports, because a lot of what happens to Wall Street's tone this week depends on whether that one earnings call reads as confirmation or as the moment the AI capex story starts getting genuinely questioned. None of that has touched STI yet, our own market barely moved. I'd rather watch how SGX opens today than guess ahead of it.

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

Cheers, Iggy 🦖