Stocks rose pre-market despite new US and Israeli strikes on Iranian vessels in the Strait of Hormuz, which killed Iran personnel and disrupted shipping amid mine-laying attempts. Trump had indicated negotiations with Tehran are “proceeding nicely.” Brent crude surged 3.9% to $99/bbl although 10yrTY fell -5.1bp to 4.50%.
I expect equities to reclaim new records as the conflict ends, oil retreats, and S&P 500 2026 EPS ests now at $340 (+22% YoY) on AI and energy gains, implying a 4.5% forward earnings yield, the same as 10yrTY. Several specialty retailers will announce 1Q earnings this week. I remain cautious on $Tesla(TSLA.US) due to declining estimates, rising autonomous competition, and an extended valuation. For more detail see my pre-mkt summary for Subscribers only.The copyright of this article belongs to the original author/organization.
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