US stocks slipped as Brent crude neared $100/bbl after Houthi attacks halted some Saudi oil operations; the 10-year yield rose to 4.81%. Chips were mixed-to-higher. A strong August jobs report on Friday lifted odds of a Fed rate hike at next week’s Fed meeting to ~60% with the August CPI print Friday. Tomorrow is $AAPL ‘s annual new product event. I remain skeptical about a pre-midterm election Fed interest rate hike. Rising 2026 S&P EPS estimates imply a 21.1x P/E and a CY2026 earnings yield of 4.7%, below the 10-year treasury yield (normal equity premium +50-100bp). I remain cautious on $TSLA given declining long-term earnings estimates, continued commoditization of unsupervised autonomy, and $TSLA’s extended valuation. For greater detail, please see my daily pre-mkt summary for Subscribers.