Stocks edged higher pre-mkt after President Trump announced Project Freedom to guide neutral ships safely out of the Persian Gulf amid a fragile Iran ceasefire. Brent crude rose +1.4% to $110. Strong tech earnings, rising 2026 S&P EPS estimates ($325, +17% YoY), and a coming resolution to the Iran conflict support further record highs. $eBay(EBAY.US) surged 10% on $GameStop(GME.US) ‘s 56B buyout proposal. We remain cautious on $Tesla(TSLA.US) due to falling earnings estimates, increased competition in unsupervised autonomy and a stretched valuation relative to future expected growth.
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