---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000926532.md"
description: "US stocks neared fresh highs pre-market Tuesday (SPX +0.2%, NDX +0.3%) as Brent crude fell 2% to $98/bbl and the 10-year yield dropped to 5.27%, easing inflation concerns. Equity gains are being driven by earnings and AI infrastructure spending, not multiple expansion. Chipmakers continued to rise after last week’s strong Micron strong results with $NVIDIA(NVDA.US) hitting a record high.  $Tesla(TSLA.US) gained +0.7% to $380, extending two days of gains on last week’s strong 3Q deliveries. S&P 2026 EPS estimates of $366 (+32% YoY) imply a 21.2x P/E and 4.7% earnings yield, and remain inverted versus 10year treasuries. I remain cautious on $Tesla(TSLA.US) largely due to a stretched valuation, falling longer-term estimates, and continued commoditization of unsupervised autonomy."
datetime: "2026-10-06T11:35:52.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000926532.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000926532.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000926532.md)
author: "[Gary Black Tracker](https://longbridge.com/en/profiles/17077344.md)"
generator: "portal-rs"
---

# US stocks neared fresh highs pre-market Tuesday (S…


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**