☕️ [Task Coins Giveaway] Daily Market Talk — Iran Shuts Hormuz, Dow Drops 953

Midday update: Brutal overnight tape. Iran closed the Strait of Hormuz after US airstrikes, crude jumped over 2.5% and the Dow fell 953 points (-1.87%). Oracle beat on everything and its AI backlog exploded to USD 638B, yet the stock dropped 7%+ on a USD 70B FY27 capex guide. SMCI crashed about 28% on a dilutive raise, and gold fell about 3% toward USD 4,100. Meanwhile SpaceX prices its ~USD 1.8 trillion IPO tonight, the largest in history.

💬 Today's 3 Big Questions

Iran closed the Strait of Hormuz, the chokepoint for roughly 20% of global oil, and crude is up over 2.5%. With oil rising AND rate cuts now off the table after CPI hit 4.2%, are you trimming rate-sensitive SG REITs and airlines, or is this the overreaction you buy into?
Oracle beat on revenue, EPS and cloud (+47%), and its RPO backlog jumped to USD 638B, yet the stock fell 7% purely on a USD 70B FY27 capex guide. SMCI crashed about 28% the same night on dilution. Has the AI trade structurally flipped from "buy the AI story" to "short the capex cycle"?
SpaceX prices tonight at USD 135, a ~USD 1.8T valuation with demand near USD 250B (about 4x oversubscribed), even as Hormuz is shut and risk appetite collapses. Do you chase SPCX on Friday, or is this peak euphoria right at the top?

👇 Like, drop your take (20+ words), click "Repost" & earn 288 Task Coins ✨
🚫 NO duplicates or similar content
⏰ Deadline: June 11, 2026, 11:59 PM (SGT)

📊 Quick Market Recap

🌍 Global Macro & Markets

Iran closed the Strait of Hormuz after US airstrikes (a US helicopter was downed over the strait); Iran hit US bases in the region and Trump threatened heavier strikes. WTI and Brent jumped over 2.5% as the world's key oil chokepoint went offline.
US CPI hit 4.2% YoY (May), a 3-year high, driven by an energy surge tied to the conflict; but core CPI was a soft +0.2% MoM (below the +0.3% forecast). Hot headline inflation killed rate-cut hopes.
Gold fell about 3% to around USD 4,100, not on safe-haven flight but because higher-for-longer yields make non-yielding gold less attractive.

🇺🇸 US Markets: Hormuz Shock + AI Capex Fear

📈 Dow -1.87% (-953 pts to 49,919), Nasdaq -1.98% (25,170), S&P 500 -1.62% (7,267); Nasdaq-100 futures -2.24%. Industrials -3%, Tech -2%.
Oracle (ORCL) posted a record Q4: revenue USD 19.2B (+21%), cloud +47% to USD 9.9B, IaaS USD 5.8B (+93%), EPS USD 2.11 (beat), and RPO backlog surged to USD 638B (from 553B, +363% YoY). The stock still fell 7%+ as FY26 capex hit USD 55.7B and the FY27 capex guide landed near USD 70B.
Super Micro (SMCI) crashed about -28% (closing near USD 29) on a USD 7B equity raise to fund ~USD 39B of AI server orders; dilution overwhelmed the demand story.
Chips fell a 4th day in 5: Qualcomm -6%, Nvidia -3.7%, Micron -3.9%, Arm -4%; SOXX off more than 3%.
Apple (AAPL) bucked the selloff and closed higher; Morgan Stanley raised its target to USD 360 (bull case 440), betting the Gemini-powered Siri drives a major iPhone upgrade cycle.
SpaceX prices tonight at USD 135, a ~USD 75B raise at a ~USD 1.8T valuation, with demand near USD 250B (about 4x oversubscribed); Nasdaq debut Friday June 12.

🇸🇬 Singapore Markets

📈 STI likely opens lower, tracking the 1.6 to 1.9% US selloff and the Hormuz shock; rate-sensitive REITs and airlines face a dual hit from rising oil and higher-for-longer rates. The STI is still up about 26% over the past year, one of Asia's best.
SG banks look set for a stronger FY2027 (CGS International): elevated US yields, wealth management growth and 8% YoY April loan growth point to stronger net interest income and ROE; the bank-heavy STI is structurally less exposed to the AI-chip repricing hurting Seoul and Taipei.
HDB resale (May): Non-Mature Estates made up 55.1% of transactions (vs Mature 44.9%); prices stayed broadly stable (Mature +0.4% MoM, Non-Mature +0.2%).
Wee Hur (E3B) acquired One Bedford Place, a 26-storey Grade-A building in Kowloon, Hong Kong, to convert into a 500-bed student accommodation (operational H1 2028).
First REIT (AW9U) hedged 95% of the rupiah proceeds from its S$364.9M Indonesia hospital sale, part of a S$471.5M total exit from Indonesia, with a put option on the remaining six hospitals for S$294.8M.
SingPost (S08) opened a S$30M automated parcel sortation hub in Tampines (officially opened June 9 by Minister Josephine Teo).
Ley Choon (Q0X) formed a 51-49 JV with Australia's The Tunnel Company for pipe-jacking and trenchless infrastructure.

🇭🇰 Hong Kong & China Markets

📈 Nasdaq Golden Dragon China Index -0.28%, with individual names diverging sharply.
NetEase (9999.HK) rose about +4%, outperforming a weak session.
GDS Holdings (GDS) fell about -7%, keeping pressure on Chinese data-centre-related tech.

📅 Key Events Tonight / This Week

🇺🇸 SpaceX IPO pricing — Tonight, June 11 after US close (USD 135, ~USD 1.8T, ~4x oversubscribed / ~USD 250B demand)
🇺🇸 US PPI (May) + Weekly Jobless Claims — Tonight, June 11, 20:30 SGT (PPI headline ~+6.4% YoY / core ~+5.4% forecast; claims ~220K)
🇺🇸 SpaceX Nasdaq debut (SPCX) — Friday, June 12
🇺🇸 Univ. of Michigan consumer sentiment (prelim, June) — Friday, June 12
🌍 US-Iran conflict / Strait of Hormuz closure — Active, oil-supply risk

Disclaimer: For reference only, not investment advice.