Highlights from today’s pre-mkt summary for Subscribers: Stocks rose Monday pre-market as investors focused on reports of US allies pushing a potential 45-day ceasefire in the Iran war as a bridge to a permanent deal, though odds of success in the next 48 hours remain low. Brent crude fell 0.8% to $108/bbl amid the negotiations, while Trump issued aggressive threats to strike Iranian infrastructure if no deal reopens the Strait of Hormuz by Tuesday's 8 p.m. deadline.
On Friday, March U.S. non-farm payrolls were a surprisingly strong +278K (vs +65K expected), though February was revised sharply lower. We continue to believe equities will hit new highs once the conflict ends, oil retreats, and slower job growth boosts Fed interest rate-cut odds. S&P 500 2026 earnings estimates rose to $323 (+17% YoY), implying a 20.3x P/E = 4.9% earnings yield vs a 10yr treasury yield of 4.4%, in line with historic norms. We remain cautious on TSLA due to declining long-term earnings ests, intense competition in unsupervised autonomy from rivals like Google, Amazon, and Nvidia-enabled OEMs, and an extended valuation.The copyright of this article belongs to the original author/organization.
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