To The Moon

Last Week' Recap

1.Market Digest: NASDAQ Enters Correction, Mag 7 Loses Crown, Jobs Roar Back, Yields Retreat (Week Ended November 6, 2026)

• Zigzag market — A one-sided midterm election outcome, fresh AI concerns, and a strong jobs report fueled volatility. Stocks rallied Wednesday, tumbled Thursday, partially recovered Friday. $NASDAQ(.IXIC)$ -3.4%, $S&P 500(.SPX)$ -2.7%, $Dow Jones(.DJI)$ -0.9%.

• NASDAQ correction — Thursday's 5.5% drop was the biggest daily decline in 19 months, sending the index into correction territory (more than 10% below its October 6 record). The Magnificent Seven lost more than $1 trillion in market cap on Thursday alone.

• Jobs comeback — October nonfarm payrolls surged 165,000, blowing past consensus and far above the 12-month average of 48,000. August/September revised up by 84,000 combined; unemployment slipped to 4.1% from 4.2%.

• Still magnificent? — For the first time since late 2022, Mag 7 earnings expectations (22.6% growth) fell below the rest of the S&P 500 (32.6%), per FactSet, after mixed Q3 reports.

• Yield retreat — 10-year Treasury fell for a fifth straight week to 4.86% (from above 5.30% in early October). 2-year at 4.52%, 30-year at 5.26%.

• Oil pullback — U.S. crude fell to ~$88 Wednesday (lowest in 2+ months) before creeping back to ~$90.50 Friday. Overall, crude ended the week down ~12% as investors assessed the midterm election's potential impact on the Middle East conflict.

• Volatility spikes — VIX surged to 28.4 on Thursday (highest in 7+ months) before pulling back to 25.6 Friday, up 32% for the week. It had fallen to 16.6 following Tuesday's midterm election.

• CPI & PPI ahead — October CPI due Tuesday, PPI Friday. September CPI was 3.7% (up from 3.4%), with inflation persistently elevated.

2.US Market – SPX tumbles 2.68% as semiconductor carnage and energy collapse

The S&P 500 Index (SPX) plunged 2.68% and closed at 7,376.86, as a brutal selloff across semiconductor names, the index broke below the 7,400 level amid broad-based risk-off sentiment.

Industry laggards: Oil & Gas Drilling (-21.17%) led the declines on crude price collapse. Marine Ports & Services (-21.10%) tumbled on global trade slowdown fears. Lidar Concept (-20.17%) faced autonomous-driving execution risks. SPACs (-17.45%) and NVIDIA Portfolio (-14.68%) tracked high-beta tech and AI hardware profit-taking.

10 Popular Stocks:

• $Amazon.com(AMZN)$ +7.88% — The e-commerce and cloud leader surged on AWS revenue stability and Prime Day momentum, bucking the broader tech weakness.

• $Berkshire Hathaway(BRK.B)$ +5.24% — The conglomerate gained on flight-to-safety flows as investors sought refuge from tech volatility.

• $Costco(COST)$ +4.08% — The warehouse retailer advanced on defensive positioning and resilient consumer staples demand.

• $Eli Lilly(LLY)$ -4.48% — The pharmaceutical heavyweight retreated on GLP-1 pricing pressure fears.

• $NVIDIA(NVDA)$ -8.8% — The AI chip leader collapsed on profit-taking and rotation out of high-beta AI names.

• $Broadcom(AVGO)$ -9.93% — The custom-AI-chip giant plunged on valuation concerns and OpenAI deal execution risks.

• $Tesla Motors(TSLA)$ -10.4% — The EV maker tumbled on delivery-margin concerns and robotaxi timeline skepticism.

• $Advanced Micro Devices(AMD)$ -11.05% — The chip designer collapsed on AI accelerator competition fears.

• $Exxon Mobil(XOM)$ -11.42% — The energy major was crushed alongside Brent crude weakness and OPEC+ supply increase concerns.

• $Micron Technology(MU)$ -22.01% — The memory-chip maker was the week's worst large-cap performer, imploding on oversupply fears in consumer DRAM and NAND, and concerns that HBM pricing power may be peaking.

3.Hong Kong Market – HSI surges 5.1% as tech and financials ignite broad-based rally

$HSI(HSI)$ jumped 5.1% and closed at 24,481.66, as a powerful rally in internet giants, EV names, and Chinese banks drove the index back above the 24,000 level. The breadth of the advance was notable, with nearly every major sector participating.

The $HSTECH(HSTECH)$ soared 8.61% and closed at 4,078.23, as investors chased high-beta tech exposure across the EV supply chain, gaming, and fintech.

Industry leaders: ByteDance Concept Stocks (+24.16%) led on TikTok/AI content-generation tailwinds and enterprise software demand. Oil & Gas Refining & Marketing (+13.20%) advanced on refining margin expansion. Interactive Home Entertainment (+13.11%) surged on gaming and streaming momentum. Wuhan Based Concept (+13.05%) and Leisure Facilities (+12.61%) tracked regional reopening and consumer travel demand.

10 Popular Stocks:

• $XIAOMI-W(01810)$ +14.73% — The consumer electronics and EV player was the week's standout, surging on SU7 delivery momentum, AIoT ecosystem traction, and speculation around its next-gen EV lineup.

• $CATL(03750)$ +12.16% — The battery giant bounced back sharply from recent lows on resilient global EV battery orders and energy-storage contract wins, with investors looking past near-term lithium weakness.

• $TENCENT(00700)$ +9.44% — The internet giant rallied on gaming sentiment recovery, fintech optimism, and share buyback support, leading the HSTECH charge.

• $BANK OF CHINA(03988)$ +8.09% — The state-owned lender surged on defensive dividend-yield positioning and rotation into deeply discounted financials.

• $PING AN(02318)$ +6.86% — The mainland insurer advanced on investment-yield stabilization and attractive dividend policy.

• $FAST RETAIL-DRS(06288)$ +6.08% — The UNIQLO operator gained on China same-store sales stabilization and Southeast Asia expansion.

• $AIA(01299)$ +4.05% — The pan-Asian insurer rose on new-business-value stabilization in Hong Kong and China.

• $CCB(00939)$ +2.63% — Tracked the banking-sector rally on state-owned lender rotation.

• $CNOOC(00883)$ -4.94% — The offshore oil specialist declined alongside Brent crude weakness and profit-taking in the energy complex.

• $PETROCHINA(00857)$ -4.07% — The upstream energy major was the only other large-cap decliner, tracking oil lower despite the broad market euphoria.

4.Singapore Market – STI tumbles 3.67% as banking-sector rout drags the index below 5,200

$Straits Times Index(STI.SI)$ plunged 3.67% and closed at 5179.71, as a brutal selloff across all three local banks and the S&P 500 ETF overwhelmed sharp gains in Greater China tech SDRs.

Declining sectors: Forest Products (-28.13%) led the declines on profit-taking in packaging and timber plays. Distributors (-20.11%) tumbled on supply-chain margin compression. Internet & Direct Marketing Retail (-16.67%) faced e-commerce demand concerns.

10 Popular Stocks:

• $Xiaomi HK SDR 2to1(HXXD.SI)$ +13.36% — The consumer electronics and EV player's SDR surged on EV delivery momentum and AIoT ecosystem traction, bucking the broader market rout.

• $Tencent HK SDR 10to1(HTCD.SI)$ +9.78% — The internet giant's SDR rallied on gaming sentiment recovery and share buyback optimism.

• $Alibaba HK SDR 5to1(HBBD.SI)$ +7.59% — The Chinese tech conglomerate's SDR advanced on e-commerce stabilization hopes and platform-economy sentiment recovery.

• $Ping An Ins HK SDR2to1(HPAD.SI)$ +7.13% — The insurer's SDR gained on high-dividend-yield attraction and defensive rotation into financials.

• $SS SPDR S&P500 USD(S27.SI)$ -3.37% — Tracked Wall Street lower amid global equity weakness.

• $DBS(D05.SI)$ -4.66% — Singapore's largest bank tumbled on profit-taking after its recent run to record highs, with NIM normalization fears resurfacing.

• $OCBC Bank(O39.SI)$ -5.33% — The banking heavyweight collapsed on record non-interest income profit-taking and regional credit growth deceleration concerns.

• $Delta TH SDR 1to1(TDED.SI)$ -11.04% — The Thai power-electronics SDR plunged as its Bangkok-listed parent continued to fall on AI data-center profit-taking.

• $UOB(U11.SI)$ -10.85% — The third-largest local bank was hammered on ASEAN commercial-banking margin concerns and deposit competition.

• $SpaceX US SDR 100to1(UXSD.SI)$ -12.22% — The space and AI conglomerate's SDR was the week's worst performer, extending its post-IPO decline on thin float volatility and concerns over the xAI merger integration.

5.Australian Market – XJO gains 1.27% as retail and miners lift the index above 9,000

The $S&P/ASX 200(XJO.AU)$ gained 1.27% to 9,020.8 over the week, as strength in consumer staples, iron ore miners, and industrial property offset a sharp decline in Woodside Energy and weakness in NAB. The index reclaimed the 9,000 level as investors rotated into domestic-facing names.

Industry leaders: Motorcycle Manufacturers (+50.00%) led on thin-volume speculative momentum and export optimism. Internet Services & Infrastructure (+32.63%) surged on AI data-centre and cloud demand. Home Furnishings (+32.53%) advanced on residential market stabilization, while Consumer Electronics (+25.73%) and Department Stores (+25.00%) tracked holiday shopping and consumer reopening tailwinds.

10 Popular Stocks:

• $FORTESCUE LTD(FMG.AU)$ +6.38% — The pure-play iron ore miner bounced back from recent lows on oversold technicals and steady 62% Fe prices.

• $WESFARMERS LTD(WES.AU)$ +6.05% — The diversified retail conglomerate surged on Bunnings and Kmart trading strength, with investors favoring consumer discretionary exposure.

• $WOOLWORTHS GROUP LTD(WOW.AU)$ +5.54% — The supermarket giant advanced on defensive positioning and resilient grocery demand.

• $COLES GROUP LTD(COL.AU)$ +4.34% — The supermarket rival tracked WOW higher on sector-wide consumer staples rotation.

• $GOODMAN GROUP(GMG.AU)$ +3.11% — The industrial and data-centre property giant rose on AI-driven logistics demand and new development starts.

• $TELSTRA GROUP LTD(TLS.AU)$ +3.03% — The telecom incumbent edged up on defensive yield positioning and mobile subscriber growth.

• $WESTPAC BANKING CORPORATION(WBC.AU)$ +2.71% — The Sydney-based lender rebounded on deposit stability and mortgage-pricing recovery hopes.

• $NATIONAL AUSTRALIA BANK LTD(NAB.AU)$ -3.64% — The business-focused lender slumped on SME credit tightening concerns and commercial-property exposure worries.

• $WOODSIDE ENERGY GROUP LTD(WDS.AU)$ -7.77% — The oil & gas producer was the week's worst large-cap performer, collapsing alongside Brent crude weakness and LNG spot pricing concerns.

The Week Ahead:

1.Macro Events in Focus

Tuesday, Nov 11

• October CPI (Consumer Price Index) — The Bureau of Labor Statistics releases the headline inflation print. Following the Fed's recent policy deliberations and post-midterm fiscal uncertainty, markets will fixate on core CPI's month-over-month trajectory. Shelter and services inflation remain the key swing factors for rate expectations heading into the December FOMC meeting.

Friday, Nov 14

• October PPI (Producer Price Index) — The BLS releases producer-side inflation data, offering an early signal on pipeline cost pressures. With manufacturing activity and commodity prices in flux, this print will inform whether downstream consumer inflation faces renewed headwinds or continued disinflation.

2.Earnings in Focus

Monday, Nov 10

Pre-market:

• $Monday.com Ltd.(MNDY)$ — Work OS platform growth, enterprise customer expansion, and AI automation monetization.

• $Constellation Energy Corp(CEG)$ — Nuclear power demand (datacenter / AI contracts), capacity pricing, and clean energy transition.

After-hours:

• $Rocket Lab USA, Inc.(RKLB)$ — Electron launch cadence, Neutron development progress, and space systems revenue. A key New Space infrastructure tell.

• $AST SpaceMobile, Inc.(ASTS)$ — Satellite-to-cell service milestones, carrier partnership updates, and regulatory progress.

• $Lucid Group Inc(LCID)$ — Air production and delivery numbers, margin trajectory, and liquidity runway.

• $Hims & Hers Health Inc.(HIMS)$ — Telehealth subscriber growth, GLP-1 compound demand, and brand expansion.

• $Plug Power(PLUG)$ — Hydrogen electrolyzer deployments, green hydrogen production, and path to profitability.

Also reporting: $Occidental(OXY)$ $Take-Two(TTWO)$ $SharpLink Gaming(SBET)$ $Barrick Mining Corporation(B)$

Tuesday, Nov 11

Pre-market:

• $Sea Ltd(SE)$ — E-commerce (Shopee) GMV growth, gaming (Garena) revenue stabilization, and fintech (SeaMoney) profitability.

• $On Holding AG(ONON)$ — Premium running shoe demand, wholesale and DTC channel mix, and international expansion.

• $Honda(HMC)$ — Hybrid and EV transition progress, North American market share, and motorcycle segment resilience.

• $D-Wave Quantum Inc.(QBTS)$ — Quantum computing commercial adoption, annealing vs. gate-based progress, and government contract flow.

After-hours:

• $CoreWeave, Inc.(CRWV)$ — AI cloud infrastructure demand, GPU cluster deployments, and enterprise customer ramp. A critical read on AI compute capacity expansion.

• $Rigetti Computing(RGTI)$ — Quantum processing unit (QPU) development, government and commercial partnerships.

• $Sonos Inc(SONO)$ — Audio hardware demand, new product cycle traction, and margin recovery.

• $Firefly Aerospace Inc.(FLY)$ — Cross-border payment volumes, education and healthcare client growth.

Also reporting: $Ambiq Micro(AMBQ)$

Wednesday, Nov 12

Pre-market:

• $Rum Group Inc(RUM)$ — Video platform monetization, cloud services growth, and user engagement trends.

• $Corteva, Inc.(CTVA)$ — Seed and crop protection demand, agricultural commodity pricing, and farmer economics.

• $Franco-Nevada(FNV)$ — Royalty and streaming portfolio performance, gold price sensitivity.

After-hours:

• $EnerSys(ENS)$ — Industrial battery and energy storage demand, motive power trends.

Also reporting: Vylor

Thursday, Nov 13 — Semiconductor & Infrastructure Heavyweight Day

Pre-market:

• $NEBIUS(NBIS)$ — AI cloud infrastructure buildout, GPU cluster expansion, and strategic positioning as a pure-play AI datacenter operator.

• $Intuitive Machines(LUNR)$ — Lunar payload services, NASA contract execution, and space economy infrastructure.

• $Ondas Holdings Inc.(ONDS)$ — Autonomous drone systems (American Robotics) and railroad IoT network progress.

• $Fermi Inc.(FRMI)$ $Figure Technology Solutions(FIGR)$ — Emerging growth names.

After-hours:

• $Applied Materials(AMAT)$ — The semiconductor equipment bellwether. WFE spending outlook, AI-driven advanced packaging demand, China export restriction impact, and service revenue growth.

• $Cisco(CSCO)$ — Networking and security demand, Splunk integration progress, AI infrastructure (Silicon One) traction, and enterprise IT spending.

• $Nu Holdings Ltd.(NU)$ — Latin American digital banking growth (Nubank), customer acquisition cost, credit portfolio quality, and profitability in Brazil/Mexico/Colombia.

• $Cerebras Systems(CBRS)$ — AI wafer-scale chip demand, cloud and on-premise deployments, and competitive positioning vs. NVIDIA.

• $DLocal Limited(DLO)$ — Emerging markets payment processing volumes and merchant growth.

Also reporting: $Brookfield Corp(BN)$

Friday, Nov 14

Pre-market:

• $Lithium Americas Corp.(LAC)$ — Thacker Pass lithium project development, offtake agreements, and battery metals demand outlook.

After-hours:

• $Hawaiian(HE)$ — Utility operations, wildfire liability developments, and regulatory rate case status.