---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000503599.md"
description: "In today’s pre-mkt summary for Subscribers:  Stocks recovered as President Trump pledged safe passage for oil tankers through the Strait of Hormuz amid the five-day-old Mid East conflict.  Brent crude rose again to $82.70/bbl and is now +19% since fighting erupted over the weekend. 10y yields, precious metals, and #bitcoin were all higher and longer duration equities rose pre-mkt.  $Broadcom(AVGO.US) reports earnings after today’s close, $Costco Wholesale(COST.US) reports tomorrow PM, and Feb non-farm payrolls is Friday (+60K exp). We view the oil price surge as transitory (akin to 2021-22 Russia’s invasion of Ukraine), and expect equities to reclaim highs once the conflict ends, oil retreats, and softer jobs data leads to two Fed rate cuts by year-end. Stocks are not expensive by historic norms:  2026 S&P EPS $310 implies 22.2x P/E and 4.5% earnings yield (~50bp above 10y Treasuries), in line with non-recessionary history. We remain cautious on $Tesla(TSLA.US) given declining 2026-2030 estimates, rapid unsupervised autonomy progress by competitors, and stretched valuation (2026 P/E ~200x vs +40% LT growth, 5x PEG)."
datetime: "2026-03-04T11:37:17.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000503599.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000503599.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000503599.md)
author: "[Gary Black Tracker](https://longbridge.com/en/profiles/17077344.md)"
generator: "portal-rs"
---

# In today’s pre-mkt summary for Subscribers:  Stock…


### Related Stocks

- [COST.US](https://longbridge.com/en/quote/COST.US.md)
- [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md)
- [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md)
- [COST.UK](https://longbridge.com/en/quote/COST.UK.md)

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