☕️ [Task Coins Giveaway] Daily Market Talk

Midday update: The Dow hit a fresh all-time high overnight as US-Iran talks progressed and Washington dropped a $2B quantum computing package — IBM surged 12%, D-Wave rocketed 33%, Rigetti jumped 31%. On the flip side, Intuit plunged 20%, its worst day since 2003, on AI-driven layoffs. Back home, STI is up 0.44% but SIA shares slipped after net profit fell 57% despite record revenue and a record 42.4 million passengers.

💬 Today's 3 Big Questions

1. Trump's $2B quantum computing package sent D-Wave +33% and Rigetti +31% in a single session — stocks that were near zero just months ago. Is this government money a genuine inflection point for quantum, or is the sector getting swept into policy-driven hype before the technology can actually deliver commercial results?
2. Intuit cratered 20% after announcing AI will replace roles across the company — its worst single day since 2003. Intuit itself sells AI-powered tools to millions of businesses. Does AI disruption now structurally break the earnings model of legacy software companies, or is this a short-term overreaction and a buying opportunity?
3. SIA posted record revenue of SGD 20.5 billion and a record 42.4 million passengers — but net profit fell 57% because Air India is bleeding heavily. For Singapore investors holding C6L: is Air India a multi-year turnaround bet worth staying patient for, or has the damage been severe enough that the investment thesis has broken?

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⏰ Deadline: May 22, 2026, 11:59 PM (SGT)

📊 Quick Market Recap

🌍 Global Macro & Markets

• US-Iran nuclear negotiations made progress overnight, easing geopolitical risk premium and lifting global risk appetite into the weekend.
• WTI crude fell 1.94% to $96.35/bbl; Brent dropped 2.32% to $102.58/bbl as diplomatic progress reduced supply disruption fears.
• OpenAI reported Q1 revenue of $5.7 billion — but user growth has stalled and losses continue; the private company's numbers are setting the benchmark for how markets value the broader AI sector.

🇺🇸 US Markets: Quantum Surge, AI Disruption, ARM Breaks $300B

• 📈 All three major US indices closed higher; Dow Jones hit a fresh all-time high
• IBM — Surged +12% after the Trump administration announced a $2 billion quantum computing support package, directly backing IBM's quantum infrastructure roadmap.
• D-Wave Quantum (QBTS) — Spiked +33.4% on the same quantum policy catalyst; one of the largest single-day moves in its history.
• Rigetti Computing (RGTI) — Rallied +30.6% on the same catalyst.
• Intuit (INTU) — Plunged -20%, its worst single-day decline since 2003, after announcing layoffs driven by AI replacing roles across the business.
• Workday (WDAY) — Rose after Q1 revenue beat expectations, bucking the broader software sector selloff.
• Arm Holdings (ARM) — Climbed +16%, crossing the $300 billion market cap milestone for the first time.

🇸🇬 Singapore Markets

• 📈 STI: 5,067.21, +0.44% (+22.30 pts)
• Singapore Airlines (C6L) — Down -1.02% to S$6.77 after FY2026 results: net profit fell 57.4% to SGD 1.18 billion despite record revenue of SGD 20.5 billion and a record 42.4 million passengers. Total dividend: 37 cents.
• Singapore Exchange (S68) — Up +2.38% to S$22.12, approaching its 52-week high of S$22.39, buoyed by becoming ASEAN's largest exchange by market cap.
• Keppel (BN4) — Announced termination of the proposed M1 divestment to Simba Telecom, after IMDA halted its assessment indefinitely.
• NIO (NIO.SG) — Q1 revenue surged +112% YoY to 25.5 billion yuan; deliveries up +98%; net loss narrowed sharply from 6.8 billion yuan to 332 million yuan.
• Suntec REIT (T82U) Q1 DPU +23.9% | FCT (J69U) 1HFY2026 revenue +20.3% | CICT (C38U) Q1 revenue +8.0% — SG REIT sector posts a solid Q1 reporting season.
• AIMS APAC REIT (O5RU) — Secured a new S$450 million + A$160 million sustainability-linked revolving credit facility.
• EuroSports Global (5G1) — Called an immediate trading halt Friday morning pending a material announcement.
• Singapore is stepping up practical AI adoption for SMEs; Senior Minister Tan Kiat How urged enterprises to move "beyond AI hype" at Asia Tech x Singapore this week.

🇭🇰 Hong Kong & China Markets

• 📈 Hang Seng Index: -1.03%; H-shares (HKEI): -1.51%
• TenNor Therapeutics - B — Made its Hong Kong Exchange debut today.

📅 Key Events This Weekend / Next Week

• 🇺🇸 SpaceX IPO (SPCX) — S-1 filed; watch for roadshow schedule and pricing timeline
• 🇸🇬 Singapore April CPI Data — expected this week or early next week
• 🇺🇸 US Memorial Day — May 25 (Monday), US markets closed
• 🇺🇸 US PCE Inflation Data — expected late May (watch for exact release time, SGT)

Disclaimer: For reference only, not investment advice.