☕️ [Task Coins Giveaway] Daily Market Talk — DBS Misses as Midterms Lift the Dow

Democrats swept Congress and the Dow had its best post-midterm day in 44 years, but chipmakers sank as voters turned on AI data centres. At home, DBS missed forecasts, the second big local bank to stumble this week. Let's dig in 👇

💬 The same election lifted Big Tech and sank chips. Which side of that split are you on?

📊 Quick Recap — What Moved & Why

🇺🇸 US — Midterms Split Wall Street

🔑 Key Event: The $Dow Jones Industrial Average(.DJI.US) jumped +3.03% as Democrats swept Congress, led by $Microsoft(MSFT.US) +6.68% and $Amazon(AMZN.US) +6.12%. Chips sank as voters rejected data centres in 40 of 41 local ballots.

👀 Other to Watch

• $S&P 500(.SPX.US) +1.58%, $NASDAQ Composite Index(.IXIC.US) +1.44%, trailing the Dow as data-centre names weighed.
• $Apple(AAPL.US) → +5.31% to a record close, erasing its post-earnings slide as the election lifted Big Tech.
• Chips → $NVIDIA(NVDA.US) -3.17%, $Micron Tech(MU.US) -7.00% and $Sandisk(SNDK.US) -7.91%, at their lowest since late April.
• Earnings → $Qualcomm(QCOM.US) and $Arm(ARM.US) both slipped after hours, on weak phone sales and a soft outlook.
• $Coherent Corp.(COHR.US) → -5.98% as optical names sank, then rose after hours on strong guidance.

@Gene Munster : Slower capex spend for data centers should ease memory component pricing, which is positive for margins long term.

@dingdongbell : Once the midterm elections are done and dusted, that will remove the uncertainty that makes markets edgy.

🇸🇬 Singapore — DBS Misses Too

🔑 Key Event: $DBS(D05.SG) dips this morning after profit fell 5% to S$2.81 billion, missing forecasts as trading income plunged 65%. Chairman Peter Seah will retire in December, handing over to Anthony Lim.

👀 Other to Watch

• $FTSE Straits Times Index(STI.SG) up about +0.3% near 5,285 this morning after Wednesday's flat 5,268.63 close, as REITs offset banks.
• Banks → $UOB(U11.SG) still slips this morning, while $OCBC Bank(O39.SG) edges up before Friday's results.
• $Grab(GRAB.US) → +7.69% on Wednesday, up about 24% in three sessions after raising its full-year outlook.

@TheInvestingIguana : Two banks have reported in two days, and both missed forecasts. One word, "missed", covers two different lines.

@Fattycat : Headline numbers don't tell the whole story! Quarterly market volatility affected trading income, but DBS's underlying franchise is performing remarkably well.

🇭🇰 HK/China — Tech Rally Gathers Pace

🔑 Key Event: The $Hang Seng Index(00HSI.HK) is up about +3% near 24,700 this morning after Wednesday's +1.67% close at 23,919.50. $MEITUAN(03690.HK) and $XIAOMI-W(01810.HK) jump 8% to 9% as beaten-down tech rebounds.

@Fattycat : My Xiaomi position has crossed into positive territory. My belief in the business has not wavered. Great companies take time.

🌎 Other to Watch

• 🛢️ Oil → Brent settled -8.67% at $94.62, its first close below $100 since 7 October, on Iran peace hopes that Tehran's leader dismissed.
• 🪙 Gold → jumped about 3% on Wednesday, its biggest gain since August, as oil and the dollar fell, and holds above $4,100 this morning.

📅 Upcoming Key Events

👇 Drop your take (20+ words) & click "Repost" to earn 288 Task Coins ✨
🚫 No duplicates · ⏰ Deadline: Nov 5, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏