U.S. stock futures edged higher Thursday night, with Dow futures rising 67 points (0.1%), S&P 500 futures gaining 0.1%, and Nasdaq 100 futures adding 0.3%, as Wall Street aimed to finish another positive week despite volatility. The S&P 500 is up 0.5% this week, marking a potential eighth straight weekly gain, while the Dow has climbed 1.5% and the Nasdaq Composite gained 0.3%. Treasury market volatility intensified after the 30-year Treasury yield briefly surpassed 5.19%, its highest level since before the financial crisis, before easing to 5.09%. Oil prices dropped, with WTI crude falling nearly 2% to $96.35 per barrel and Brent crude declining over 2% to $102.58 amid optimism over easing Middle East tensions. Major indexes remained strong, with the Dow posting a record close and most indexes trading within 1% of 52-week highs. After-hours movers included Estee Lauder (+12%), Workday (+11%), Zoom (+7%), Ross Stores (+7%), and Take-Two Interactive (+7%) following strong earnings and business updates.

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Singtel is exploring opportunities to participate in Singapore’s telecom consolidation after the collapse of the proposed M1-Simba Telecom deal, though it first needs regulatory approval from IMDA. CEO Yuen Kuan Moon said the current four-player telecom market is “definitely not sustainable” and cited consolidation trends in Thailand, India, and Indonesia. However, analysts believe approval for Singtel to acquire M1 would face a “very high” regulatory hurdle and may not align with the company’s strategy to reduce domestic exposure.

Singtel is also considering a potential REIT IPO to create long-term funding pools and improve financial flexibility. Separately, the company is open to bringing in an Australian minority partner for Optus after years of operational issues, despite investing over A$9.3 billion in the unit over five years.

For FY2026, Singtel reported H2 net profit of S$2.2 billion, down 20.9%, while full-year net profit rose 39.5% to S$5.6 billion. Revenue increased 2.7% to S$7.4 billion, and the company declared a record annual dividend of S$0.185 per share.

Singtel is considering bringing in a minority Australian partner for Optus to improve operations and restore confidence after years of outages, regulatory issues, and reputational damage. Singtel said it wants a “like-minded long-term local partner” that can contribute expertise and service improvements while taking a meaningful minority stake. Despite challenges, Optus showed signs of recovery, with second-half revenue rising 2.4% to A$4.3 billion and EBITDA increasing 4.8% to A$1.2 billion. Singtel’s full-year EPS also rose from S$0.2434 to S$0.3398.

Optus has faced several major crises, including a 2022 cyberattack affecting nearly 10 million customers, a 2023 nationwide outage lasting almost 14 hours, and a 2025 outage linked to at least two deaths. The company was also fined A$100 million in 2025 for improperly selling products to over 400 vulnerable customers, and another A$12 million after the 2023 outage. Singtel has invested over A$9 billion into Optus over the past five years and says it remains committed to Australia long term.

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