Gary Black(@garyblack00):US stocks rose pre-market Friday in front of Sept non-farm payrolls as brent crude fell below $100/bbl and the 10-year treasury yield eased after Fed officials signaled no urgency to hike short-term rates again. Bitcoin, gold, and silver all gained. $NKE dropped 10% after offering dismal FY’27 guidance and rev deterioration that mgmt indicated would continue into FY’28. Chip stocks were firm after $MU ‘s strong results and guidance; $GOOG advanced on its Gemini 4 Argon AI rollout. $TSLA edged up ahead of 3Q deliveries. S&P 2026 EPS estimates imply a 20.9x P/E and an earnings yield below Treasuries, a setup last seen near the 2000 dotcom peak. $TSLA valuation looks extended at a 2026 P/E of 225x amid declining 2027-2030 earnings estimates and rising autonomy competition. For greater detail, please see our daily pre-mkt summary for Subscribers.

2026.10.02 11:34

US stocks rose pre-market Friday in front of Sept non-farm payrolls as brent crude fell below $100/bbl and the 10-year treasury yield eased after Fed officials signaled no urgency to hike short-term rates again. Bitcoin, gold, and silver all gained. $NKE dropped 10% after offering dismal FY’27 guidance and rev deterioration that mgmt indicated would continue into FY’28. Chip stocks were firm after $MU ‘s strong results and guidance; $GOOG advanced on its Gemini 4 Argon AI rollout. $TSLA edged up ahead of 3Q deliveries. S&P 2026 EPS estimates imply a 20.9x P/E and an earnings yield below Treasuries, a setup last seen near the 2000 dotcom peak. $TSLA valuation looks extended at a 2026 P/E of 225x amid declining 2027-2030 earnings estimates and rising autonomy competition. For greater detail, please see our daily pre-mkt summary for Subscribers.