Micron printed a record $54.2B quarter, guided to $61.5B, and the stock closed flat. A cooler PCE pushed October hike odds below a coin flip, but the 10-year still climbed above 5.2%. Let's dig in 👇

💬 Micron beat by $3B and didn't move: is the AI memory trade fully priced, or is this a pause before the next leg?

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📊 Quick Recap — What Moved & Why

🇺🇸 US — Soft PCE, Flat Micron

🔑 Key Event: Core PCE came in at 3.0% vs 3.3% expected, cutting October hike odds below a coin flip. The 10-year still rose for a seventh straight day. Dow -0.86%, S&P 500 -0.25%, Nasdaq +0.24%.

@Mel : The market does have a terrible habit of selling the news.

👀 Other to Watch

• $Micron Tech(MU.US) → flat at $1,065 after revenue beat by about $3B and next-quarter guidance topped estimates.
• $Liquidia Tech(LQDA.US) → -57.2% after a court ruled its Yutrepia inhaler infringes United Therapeutics patents; United Therapeutics (UTHR)+12.5%.
• $Jabil(JBL.US) → -10.0% despite raising FY27 revenue guidance to $44.5B; next quarter's EPS guide came in light.
• $Cerebras(CBRS.US) → -8.9%, below its $185 IPO price, as 19.4M shares came out of lockup.
• $Synopsys(SNPS.US) → +4.8% on an OpenAI chip-design AI deal and a $1B+ licensing deal with AWS.

🇸🇬 Singapore — Suburbs Lift Home Prices

🔑 Key Event: STI eased -0.7% Wednesday to 5,675.88 ahead of PCE. This morning's URA flash showed private home prices +1.4% in Q3, led by suburban OCR +2.2%, while transactions fell about 30%.

@JPJP : Asian REIT funds have faced persistent headwinds due to inflation and the Fed's rate hikes.

👀 Other to Watch

• $DBS(D05.SG) → Blackstone Singapore chairman Gautam Banerjee joins the board with immediate effect.
• $DFIRG USD(D01.SG) → takes full control of 1,100+ Starbucks stores in seven Asian markets plus about US$340M cash, giving up its 50% Maxim's stake.
• $UMS(558.SG) → -3% on a placement to raise up to RM450M for expansion.
• $ESR-REIT(J91U.SG) → selling its Pioneer Road warehouse for S$32M, in line with valuation.

🇭🇰 HK/China — Golden Week Pause

🔑 Key Event: Hang Seng +0.37% Wednesday to 24,613.27. Hong Kong is closed today for National Day, and mainland markets stay shut through 7 October.

🌍 Other to Watch

• 🇰🇷 Korea's September exports jumped 83.5% to a monthly record as chip shipments hit new highs.
• 🛢️ Brent rose about $1 to around $98, up 14% in September. Trump denied reports he would offer Iran sanctions relief.

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Not investment advice, just market talk 🙏