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The quarterly earnings season has been in full swing over the past week. Despite similar performance, it's a world apart from July.

This week, the focus is on Thursday's FOMC meeting. We've noticed the 10-year US Treasury yield oscillating at high levels and could break out upward at any moment.

This is a risk factor.

Tensions in the Strait of Hormuz continue to escalate, with shipping traffic at a three-month low and conflicting signals from both sides regarding an end to the conflict; oil prices still fell 2.1% to $87.07.

Gold saw slight gains, while the US dollar remained weak.

The situation is not optimistic; hold some cash and keep safe-haven precious metals on hand for emergencies.

The inflation numbers are out and both CPI and PPI are looking favourable. The markets like them and are trending higher as a result.

The overall market is taking the inflation numbers in its stride and liking it. Price action leans bullish and the number of bears still being around and vocal gives it an even more bullish nuance.

With CPI and PPI out of the way, it is back to earnings for the remaining companies. Interesting to see if there will be a pullback from all time highs or we go higher from here.

I still like Yangzijiang Shipbuilding (SGX: BS6) fundamentally, but at today’s ~S$4.66 I would not chase it with a large purchase. The price has moved very quickly after the excellent 1H26 results. As of 10:51am today, it was around S$4.66, already close to its recent high.

Reddit joining the S&P 500 is definitely interesting. I think index inclusion could bring more institutional demand and liquidity, but with RDDT already running strongly, I wouldn’t chase the rally blindly. The meme-stock DNA is still there, so volatility will probably remain high.

In Singapore, I’m paying more attention to the strong earnings from City Developments, CapitaLand Investment and OCBC. CDL’s profit jump is especially impressive, while CLI’s record fee income shows that Singapore’s property and asset-management sectors are still benefiting from a healthier environment. I’m increasingly bullish on selected Singapore blue chips after the STI’s strong run this year.

For US tech, SanDisk’s long-term growth target and the memory-sector momentum caught my attention, especially given my existing interest in the AI infrastructure and memory theme. At the same time, Cisco’s margin pressure is a reminder that AI demand is strong but rising component costs can squeeze profitability. Overall, I’m staying selective rather than chasing every stock that pops after earnings.

US July PPI rose 4.7% year-over-year, falling below market expectations and slowing from June's 5.5%, while Core PPI declined to 4.2%. Combined with softening CPI data, the reports indicate cooling production-side and consumer inflationary pressures, largely driven by dropping energy and food prices. This lower than expected inflation data relieved market concerns regarding reaccelerating inflation and reduced near term Fed rate hike pressures.

The CPI came in as expected and some say milder. So that is a good thing for inflation I guess. The markets had a good lift out of it.

Hahaha My local semiconductor-related stocks are up again. The AI infrastructure story is real but the market is made up of investors who vacillate and those out for quick profits. Long term investors should do thorough research so that they can have the conviction.

AI related stocks having a good time with their earnings and stock prices. Unstoppable currently. But still a downside risk given how volatile they are and whether Fed will hike rate or not..

sg banks stocks are having a little pullback, but nothing major yet. little is going on with the war in the middle east, yet oil prices are moving around from baseless sentiments.

AI infrastructure demand remains strong, and Cisco’s post-earnings pullback shows that strong earnings may not be enough when expectations and valuations are already high. AI trend remains fundamentally bullish, while rising Treasury yields and the need to translate AI spending into sustainable revenue and cash flow make selectivity and risk management increasingly important.Watching AI semiconductor and infrastructure stocks closely, with tonight’s US PPI potentially influencing rate expectations and yields.

AI-infra is running oun fumes and cheap money. 10Y yields at 2007 highs will kill the funding. $Cisco(CSCO.US) beat and dropped, Tencent capex spooked HK — when one crack shows, the whole trade can gap down.

Well inflation turns out benign after all and puts less pressure on the Fed to hike. Honestly don’t care much about the yields and don’t think the US will sacrifice the stock market for that. If need to, they will do yield curve control. IMHO, they are going to devalue the dollar.

Seen to me that the renewed appetite for the US AI trade canibalises the SG stocks that are roped for picking, e.g. the banks stocks.

This is euphoria. 10Y at 2007 highs means funding AI gets expensive fast. $Cisco(CSCO.US) selling on a beat + Tencent capex scaring China shows the theme is crowded and fragile to any disappointment.

The market has been hesitant to break 8000 while it has shown signs of weakness and dipping to pullback mode. Expect big moves soon so take caution when investing. DCA if you really like to get into the stocks long term(5-10 years). Do not go all in when the market is uncertain yet greedy.