To The Moon

U.S. stocks posted strong gains for the third straight week, with several major indexes notching record highs amid signs of de-escalating conflict in the Middle East, upbeat earnings results, and a series of generally positive economic data releases. The Nasdaq Composite led indexes higher, gaining 6.84%, followed by the Russell 2000 and S&P 500 Indexes. Large-cap growth stocks outperformed their value counterparts for the third consecutive week, supported in part by ongoing enthusiasm around artificial intelligence-linked stocks.

The core driver remains AI. According to Goldman Sachs: AI-related megacaps are expected to contribute over 60% of S&P 500 Q1 EPS growth NVIDIA alone contributes 3.3 percentage points, and Micron 2.7 points — together accounting for over 50% of total EPS growth The Information Technology sector is expected to deliver 44% EPS growth, contributing 87% of overall S&P 500 EPS growth

Poor. Lost a lot. Sad

DBS is the largest of the three by market capitalization and also the most diversified. It is Goldman’s other clear Buy-rated name. The core investment case for DBS is that its fee income mix is more exposed than UOB and OCBC to wealth management and capital markets, both of which are seeing the strongest seasonal recovery this quarter. Two numbers matter most for DBS this quarter: the growth rate of wealth management AUM & management’s updated guidance for full-year NIM

Now, that wealth barrier has been shattered. The SEC no longer looks at how much money is in your pocket, but at how much risk you are taking. The new rule introduces a real-time risk-based margin system: whether you have $500 or $50,000, as long as your risk controls pass, intraday trading is no longer restricted.

Top 10 bearish stocks: Galiano Gold Inc., Apellis Pharmaceuticals Inc., Chegg, Vizsla Silver Corp, Strive, iPath Series B S&P 500 VIX Short-Term Futures ETN, Devon, Novo-Nordisk A/S, Option Care Health Inc, Pinterest, Inc.

As of Tuesday’s close, the S&P 500 stood at 6,967.38, less than 0.2% away from its record closing high of 6,978 on January 27. The Nasdaq has risen for 10 straight sessions, matching its longest streak since November 2021.

Singapore stocks opened higher on Tuesday. STI up 0.5%; Capital World up 100%; Mapletree Log up 3%; YZJ Shipbldg and YZJ Fin up 2%; SGX up 1%; Koh Eco down 9%; Koh Brothers down 8%; Oiltek down 3%.

Goldman didn't just beat; they obliterated expectations: Equity Trading Rev: $5.33B (All-time Wall Street record). M&A Advisory: Up 89% YoY. The Catch: The stock dropped 1.87% after the print. In this macro environment, a record-breaking past isn't enough. The market only cares about one thing: Guidance.

Data centers have the same problem. Millions of AI calculations are happening every second — and all that data needs to travel between chips, between servers, and between buildings at insane speeds.