Oil breaks US$100, Wall Street retreats and bond yields rise, inflation is becoming the market’s biggest risk again Global markets are starting Thursday in a more defensive position. Brent crude has broken above US$100 a barrel , U.S. Treasury yields are pushing higher, and Wall Street fell for a third straight session as investors reassess whether central banks may need to keep tightening rather than easing. For Malaysian investors, the key chain today is increasingly clear: Oil → inflation → interest rates → bond yields → USD/MYR → Bursa valuations. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,636.36, -0.48% 🇺🇸 Dow Jones 52,380.66, -0.77% 🇺🇸 Nasdaq 26,253.34, -0.64% 🇲🇾 FBM KLCI 1,714.34, virtually flat 💵 USD/MYR ~4.06 🇺🇸 U.S. 10Y Treasury ~4.84% 🇺🇸 U.S. 2Y Treasury ~4.42% 🥇 Gold ~US$4,396/oz 🛢️ Brent crude US$101.21/bbl 🛢️ WTI crude US$96.05/bbl ₿ Bitcoin ~US$79,300 🇯🇵 Nikkei ~64,760, -0.6% this morning Brent jumped about 3.4% Wednesda...
Global Market Snapshot
U.S. equities extended their record-breaking run on Monday as optimism surrounding AI, corporate deals, and M&A momentum lifted major indices.
S&P 500 closed at a new all-time high, gaining 0.4%.
Nasdaq Composite rose 0.7%, marking its seventh consecutive day of gains.
Dow Jones Industrial Average slipped marginally by 0.1%.
At 8:00 a.m. ET, E-mini futures were little changed:
S&P 500 Futures (ESmain.US): +0.04% to 6,791.25
Nasdaq 100 Futures (NQmain.US): +0.08%
Dow Futures (YMmain.US): +16 pts (+0.04%)
Top Market Highlights
AMD Gets Rare Upgrade After Historic 24% Surge
Advanced Micro Devices (AMD.US) soared 23.7% after sealing a landmark multi-year AI chip deal with OpenAI, estimated to bring over US$100 billion in revenue.
In a rare reversal, Jefferies upgraded AMD to “Buy”, nearly doubling its price target to US$300, admitting the firm had “underestimated AMD’s AI potential.”
The stock’s market cap jumped by US$63.4 billion — its largest single-day increase on record.
Investor takeaway: AMD is positioning as Nvidia’s closest challenger in the AI data center race.
Tesla Teases “10/7” Launch — Speculation Over Lower-Cost EV
Tesla (TSLA.US) gained 5.5% on Monday after releasing a cryptic nine-second video ending with the date “10/7.”
Markets anticipate a new affordable EV model, potentially replacing the expired U.S. $7,500 tax credit incentive and expanding Tesla’s market base.
The announcement follows record Q3 deliveries, suggesting a strategic pivot to defend market share amid global EV competition.
Focus today: whether Tesla confirms the long-rumored “Model 2” or an AI-integrated vehicle feature.
Trilogy Metals Skyrockets 200% on U.S. Government Stake
Trilogy Metals (TMQ.US) surged over 200% after the White House announced a US$35.6 million investment for a 10% ownership stake.
The partnership aims to develop copper and critical mineral resources in Alaska, reinforcing Washington’s push for domestic supply chain resilience in energy and defense materials.
Long-term view: TMQ joins a growing list of small-cap miners benefiting from U.S. strategic mineral initiatives.
ICE Enters Prediction Market Space
Intercontinental Exchange (ICE.US) gained after acquiring a US$2 billion stake in Polymarket, valuing the prediction platform at US$8 billion.
The move combines ICE’s institutional credibility with Polymarket’s consumer traction, signaling mainstream adoption of prediction-based trading.
Industry forecasts project US$8 billion in market revenue by 2030 as such platforms evolve beyond sports and political outcomes.
Tom Lee: The “Most Hated Rally” Still Has Legs
Despite a prolonged U.S. government shutdown, Fundstrat’s Tom Lee remains bullish, citing AI tailwinds, dovish Fed signals, and persistent liquidity support.
Lee described the current upswing as the “most hated V-shaped rally”, noting widespread skepticism even as markets notch record highs.
His call: sustained risk appetite through Q4 as accommodative policy and earnings momentum support further gains.
Crypto Corner
Bitcoin (BTC.CC): US$124,443 (-0.47%)
Ethereum (ETH.CC): US$4,707 (+0.20%)
Key Trends:
Crypto ETPs recorded an all-time high US$5.95 billion in weekly inflows, pushing total AUM to US$254 billion, according to CoinShares.
Standard Chartered forecasts US$1 trillion could shift from emerging markets into U.S. dollar stablecoins by 2028, as investors seek security amid global monetary volatility.
Investor Takeaway
Markets are showing remarkable resilience, balancing macro uncertainty with optimism over AI-driven growth.
Today’s focus remains on Tesla’s potential new model reveal and continued momentum across semiconductor and tech names.
Volatility may persist, but institutional positioning and liquidity flows suggest risk appetite remains firm heading into Q4.
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