☕️ [Task Coins Giveaway] Daily Market Talk — DBS Crosses S$6B as SpaceX Bets It All on Nvidia

$DBS(D05.SG) just crossed a milestone: total income above S$6B for the first time, on record quarterly profit. Meanwhile $SpaceX(SPCX.US) delivered its first earnings report as a public company, beat on revenue, and still got crushed 13% as investors balked at ballooning AI capex, even as Elon Musk doubled down by putting SpaceX's AI compute exclusively on Nvidia chips. Add a 4% gold pop, a wobbly Alphabet, and Hong Kong shaking off its rally, and it's a packed one. Let's dig in 👇

💬 Which matters more to you this week: DBS's record income, or SpaceX's AI-capex sticker shock?

📊 Quick Recap — What Moved & Why

🇺🇸 US — AI Capex Fears Ripple as SpaceX Craters

🔑 Key Event: $SpaceX(SPCX.US) posted its first earnings report as a public company on Wednesday, with revenue up 92% to $7.8B and beating estimates, but the stock crashed 13% on capex guidance that ballooned to $18.4B. Elon Musk used the same call to announce SpaceX's AI compute will run exclusively on $NVIDIA(NVDA.US) chips, sending Nvidia to a 5th straight winning day. $Dow Jones Industrial Average(.DJI.US) closed at a record 54,349 (+0.49%), while the $S&P 500(.SPX.US) slipped 0.17% and the $NASDAQ Composite Index(.IXIC.US) fell 0.83%, both snapping win streaks.

"SpaceX popping 9% then reversing 9% on an $18.4B capex quarter is giving 'Tesla 2018' déjà vu — if markets can't absorb one big capex number without panicking, market breadth is dangerously fragile." — @EdmundK

"My SpaceX puts are going brrr." — @Greedisgood99999999

👀 Other to Watch

• Alphabet ($Alphabet(GOOGL.US)) → fell about 3.5-4% after Chief Scientist Jeff Dean announced he's leaving after 27 years to start a new venture, with DeepMind's Demis Hassabis stepping down as CEO to become Alphabet's Chief Scientist.
• SanDisk ($Sandisk(SNDK.US)) and Western Digital ($Western Digital(WDC.US)) → both beat Q4 revenue estimates but guided next quarter below consensus, closing down about 5% and extending losses after hours; SanDisk also unveiled a $14B buyback.
• $AMD(AMD.US) → fell roughly 7-9% as gross margin missed estimates despite a revenue beat.
• AppLovin ($AppLovin(APP.US)) → revenue jumped 53%, but soft next-quarter guidance sent shares down more than 20% after hours.
• Eli Lilly ($Eli Lilly(LLY.US)), Shopify ($Shopify (SHOP.US)) and Disney ($Disney(DIS.US)) → all topped estimates, with gains ranging from about 3% to 17%; Uber ($Uber Tech(UBER.US)) slipped 5.3% on a softer bookings outlook.

🇸🇬 Singapore — DBS Crosses S$6B, STI Bounces Back

🔑 Key Event: $DBS(D05.SG) kicked off the week's local bank earnings before Thursday's open, posting a record S$3.08B net profit (+9% YoY) as total income crossed S$6B for the first time and wealth AUM topped S$500B for the first time. The results landed just as $FTSE Straits Times Index(STI.SG) found its footing, bouncing back to around 5,630 (+0.9%) Thursday morning after sliding to about 5,581 (-0.55%) on bank-led weakness Wednesday.

👀 Other to Watch

• CapitaLand Ascendas REIT → 1H26 distributable income up 8.6% to S$359.4M, DPU of 7.482 cents.
• CapitaLand China Trust → 1H26 DPU of 2.45 cents.
• Singapore Exchange ($SGX(S68.SG)) and Venture Corp ($Venture(V03.SG)) → both due to report results after today's close.

🇭🇰 HK/China — Stock Connect Additions Buck a Profit-Taking Pullback

🔑 Key Event: Hong Kong closed Wednesday's session higher, with $Hang Seng Index(00HSI.HK) up 0.24% to about 25,915 and $Hang Seng China Enterprises Index(HSCEI.HK) up 0.34%, extending a pause after a 6-session rally. Thursday morning turned into profit-taking, with $Hang Seng Index(00HSI.HK) down about 1% to roughly 25,667 as tech names slid. Southbound Stock Connect added MiniMax ($MINIMAX-W(00100.HK)), Luxshare Precision ($LUXSHARE-ICT(002475.SZ)) and Sanhuan Group ($CCTC(06951.HK)) effective Thursday, and MiniMax bucked the weak tape by rallying more than 10% again.

👀 Other to Watch

• Zhongji Innolight → both its A-shares and its newly-listed Hong Kong shares fell 13-15% Wednesday as the global AI-hardware and optical-module sector cooled off, echoing the same capex jitters hitting SpaceX and AMD in the US.
• Nasen Technology ($NASN TECH(02261.HK)) → began grey-market trading Thursday ahead of Friday's HK listing debut.

🌍 Other

• Gold jumped about 4% to the $4,250-4,300 range, and oil fell for a third straight session (Brent below $79, WTI near $75), as Iran and Oman agreed on a Hormuz Strait shipping-route framework, though Iran said the strait's actual reopening still hinges on the US easing its restrictions.
• US copper stockpiles hit their highest in over a decade amid tariff uncertainty, with Comex prices near record highs.
• The US 30-year mortgage rate climbed to 6.81%, a one-year high.
• Fed Governor Lisa Cook said she's "prepared to act" on rates if inflation doesn't cool, warning of entrenchment risk after five years above target.

📅 Key Events Tonight / This Week

• 🇸🇬 Singapore Exchange ($SGX(S68.SG)) & Venture Corp ($Venture(V03.SG)) → FY/half-year results, today after close.
• 🇺🇸 Cloudflare ($CloudFlare(NET.US)) & Airbnb ($Airbnb(ABNB.US)) → Q2 earnings, today after close; Datadog ($Datadog(DDOG.US)) → Q2 earnings, today before open.
• 🇺🇸 US CPI (July) → Aug 12.
• 🇸🇬 CapitaLand Investment ($CapitaLandInvest(9CI.SG)) → 1H26 results, Aug 13.

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🚫 No duplicates · ⏰ Deadline: Aug 6, 2026, 11:59 PM SGT
Not investment advice, just market talk 🙏