--- title: "SG Morning Brief｜CPI Day: Stocks Slide, Oil Stays Elevated" type: "News" locale: "en" url: "https://longbridge.com/en/news/295592539.md" description: "U.S. stocks fell for a second day as oil held above $83 and traders braced for the July CPI print. STI gained 1% to 5,754.17, led by OCBC. CoreWeave surged 14% after hours on a Q2 beat. Cisco earnings and CPI data dominate today's calendar." datetime: "2026-08-12T00:09:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295592539.md) - [en](https://longbridge.com/en/news/295592539.md) - [zh-HK](https://longbridge.com/zh-HK/news/295592539.md) --- # SG Morning Brief｜CPI Day: Stocks Slide, Oil Stays Elevated ### US Overnight U.S. stocks fell for a second straight session on Tuesday as fading hopes for a U.S.-Iran deal and elevated oil prices kept traders defensive ahead of today's July CPI report. The S&P 500 closed -0.32% at 7,733.53, the Nasdaq Composite -0.34% at 26,605.36, and the Dow -0.34% at 53,791.85. The 10-year Treasury yield eased to 4.68% after touching an intraday high near 4.73%, as crude prices steadied from their earlier surge. Trading volume was among the lowest of the year, with many investors staying sidelined before the inflation data. **Plug Power (PLUG) +5.21%** — The hydrogen fuel-cell firm rallied after Q2 revenue rose 9% sequentially to $178.3 million, gross margin improved nearly 30 percentage points toward breakeven, and management raised full-year 2026 revenue growth guidance to 15–16% while maintaining its Q4 positive EBITDAS target. The stock closed at $2.22, with the margin trajectory resonating after consecutive quarters of deep cash burn. **Intel (INTC) +0.19%** — The chipmaker increased the size of a stock offering to $20 billion, up from $15 billion, with reports indicating approximately $100 billion in demand. Proceeds are earmarked for AI infrastructure investments. Shares closed at $97.71, the modest gain reflecting both the demand signal and ongoing dilution concerns. **After hours, CoreWeave (CRWV) +13.86%** — The AI data-center operator reported Q2 revenue of $2.58 billion, up 112% year-over-year and ahead of the $2.56 billion consensus. Adjusted EPS of -$1.14 beat the -$1.45 consensus estimate. Management raised full-year revenue guidance to $12.4–$13.2 billion and confirmed a positive adjusted operating margin of 5%, marking a profitability inflection despite net losses widening to $626 million. The stock surged past $102 in extended trading. ### SGX Preview The STI closed +1.0% at 5,754.17 on Tuesday, powered by the banking trio. OCBC led with a 3.5% surge to S$31.36, DBS added 0.86% to S$76.99, while UOB bucked the trend, slipping 2.63% to S$42.16. SIA fell 2.19% to S$7.15, and Singtel edged up 0.23% to S$4.31. The overnight US tape — two straight lower closes, elevated oil, and a cautious posture ahead of CPI — points to a measured open for SGX, with the bank rally likely to pause after Tuesday's strong run. The STI's heavy bank weighting means any risk-off seepage from US futures will be felt most acutely in DBS and OCBC, both trading near elevated valuations after their recent earnings beats. ### Asia Pre-Market As of early Wednesday Asia hours, S&P 500 futures are near flat (+0.02%) and Nasdaq 100 futures up 0.11%, while Dow futures are fractionally lower (-0.09%). WTI crude settled at $83.20/bbl (+1.3%) on Tuesday, extending its week-long climb as U.S.-Iran negotiations over the Strait of Hormuz remain deadlocked. Spot gold pulled back to $4,382/oz after touching a two-month high of $4,434 intraday, while Bitcoin traded around $63,700, down roughly 1.4% from Monday's open. The combination of steady oil above $83 and flat futures suggests a cautious open for SGX, with the 8:30 PM SGT CPI print serving as the session's primary macro catalyst. ### Today's US Earnings & Economic Calendar **Earnings (today):** Cisco Systems (CSCO) — post-mkt, consensus EPS $1.17, revenue $16.83B Nebius Group (NBIS) — pre-mkt, consensus EPS -$0.72, revenue $570M **Economic data (today):** US July CPI — 8:30 AM ET / 8:30 PM SGT, headline expected +0.1% m/m (3.4% y/y), core expected +0.2% m/m (2.5% y/y) **Spotlight: Cisco Systems (CSCO)** — Consensus EPS $1.17 on revenue $16.83B, representing roughly 15% year-over-year revenue growth. Cisco has beaten estimates for four consecutive quarters, and Polymarket bettors currently assign a 93% probability of another beat. Key watch items: (1) AI infrastructure order momentum — Cisco raised its FY2026 AI order target to $9 billion after Q3, (2) Silicon One and optical networking demand trends, (3) forward guidance given the macro uncertainty around Fed rate policy. The July CPI print, released roughly four hours before Cisco's earnings, will set the macro backdrop. A hot CPI could pressure tech valuations broadly, including Cisco's rich multiple after its 60% year-to-date rally. ### One More Thing Wednesday's CPI report is the undisputed center of gravity for global markets this week. After last week's shockingly weak July payrolls — a decline of 23,000 versus expectations of 85,000 — the inflation data will either validate or undermine the case for a September Fed rate hike. Markets currently price roughly even odds of a hike, and Cleveland Fed president Beth Hammack has already signaled that multiple hikes may be needed. For SGX investors, the CPI lands at 8:30 PM SGT, meaning Thursday's open will be a direct function of the print and the overnight US response. Position sizing ahead of the data, rather than directional bets, is the prudent course. _This briefing is for informational purposes only and does not constitute investment advice._ ## Related News & Research - [Wednesday’s crucial CPI report will show tamer inflation, according to prediction markets](https://longbridge.com/en/news/295431804.md) - [VEGOILS-Palm oil tracks Dalian rivals lower](https://longbridge.com/en/news/295605565.md) - [How The UAE Has Kept Its Oil Flowing Through Hormuz](https://longbridge.com/en/news/295307018.md) - [Motor oil truths every driver should know](https://longbridge.com/en/news/295668364.md) - [Indonesia to lift investment moratorium for Thailand's PTT after oil spill compensation paid, official says](https://longbridge.com/en/news/295610083.md)