$TSLA - MORGAN STANLEY TURNS MORE POSITIVE ON TESLA AHEAD OF Q3 EARNINGS Morgan Stanley analyst Andrew Percoco is becoming more constructive on Tesla, citing improving execution in Robotaxi and the core automotive business. Following Tesla's Roadster unveiling, Percoco described the vehicle as a showcase of engineering prowess, highlighting its technological crossover with SpaceX. However, he cautioned that the commercial potential of a flying Roadster remains uncertain. 🔸 Rating: Equal Weight 🔸 Price target: $400 The key takeaway: Morgan Stanley sees the Roadster primarily as a demonstration of Tesla's technological capabilities, rather than a near-term sales driver.

$TSLA - MORGAN STANLEY TURNS MORE POSITIVE ON TESLA AHEAD OF Q3 EARNINGS Morgan Stanley analyst Andrew Percoco is becoming more constructive on Tesla, citing improving execution in Robotaxi and the core automotive business. Following Tesla's Roadster unveiling, Percoco described the vehicle as a showcase of engineering prowess, highlighting its technological crossover with SpaceX. However, he cautioned that the commercial potential of a flying Roadster remains uncertain. 🔸 Rating: Equal Weight 🔸 Price target: $400 The key takeaway: Morgan Stanley sees the Roadster primarily as a demonstration of Tesla's technological capabilities, rather than a near-term sales driver.

BREAKING: Brent crude oil surges to nearly $110, its highest level since September 15, as Iran places its armed forces on the highest alert for 72 hours and mobile bomb shelters being rapidly deployed in Tel Aviv. US oil is now at $100.

BREAKING: Brent crude oil surges to nearly $110, its highest level since September 15, as Iran places its armed forces on the highest alert for 72 hours and mobile bomb shelters being rapidly deployed in Tel Aviv. US oil is now at $100.

U.S. IMPORT AND EXPORT PRICES SURGE ABOVE EXPECTATIONS U.S. September trade inflation came in hotter than expected, signaling persistent price pressures. 🔸 Import prices: +1.1% (forecast +0.8%) 🔸 Export prices: +2.2% (forecast +1.0%) 🔸 Import prices YoY: +8.1% 🔸 Export prices YoY: +11.6% 🔸 Petroleum import prices: +4.6% The key takeaway: Rising energy costs and stronger-than-expected trade prices reinforce inflation concerns ahead of the Fed's October meeting. Source: U.S. Bureau of Labor Statistics

U.S. IMPORT AND EXPORT PRICES SURGE ABOVE EXPECTATIONS U.S. September trade inflation came in hotter than expected, signaling persistent price pressures. 🔸 Import prices: +1.1% (forecast +0.8%) 🔸 Export prices: +2.2% (forecast +1.0%) 🔸 Import prices YoY: +8.1% 🔸 Export prices YoY: +11.6% 🔸 Petroleum import prices: +4.6% The key takeaway: Rising energy costs and stronger-than-expected trade prices reinforce inflation concerns ahead of the Fed's October meeting. Source: U.S. Bureau of Labor Statistics

*US SEPT. PRODUCER PRICES RISE 6.3% Y/Y; EST. +5.4% *US SEPT. PRODUCER PRICES RISE 1.3% M/M; EST. +0.6% *US SEPT. RETAIL SALES RISE 0.8% M/M; EST. +0.3%

Rates getting decimated today. 10yr yield went from 5.34% to 5.08%. That’s massive. Not really helping equities though… hmm

Rates getting decimated today. 10yr yield went from 5.34% to 5.08%. That’s massive. Not really helping equities though… hmm

U.S. INFLATION SURGES TO 3.7%, BEATING EXPECTATIONS September CPI rose 0.6% MoM, matching forecasts, while annual inflation hit 3.7% vs. 3.6% expected. Core CPI climbed 0.3% vs. 0.2% expected, with annual core inflation reaching 2.6% vs. 2.5% forecast. Gasoline prices surged 9.1%, energy jumped 5.2%, and real earnings fell 0.5%, highlighting renewed pressure on consumers.

U.S. INFLATION SURGES TO 3.7%, BEATING EXPECTATIONS September CPI rose 0.6% MoM, matching forecasts, while annual inflation hit 3.7% vs. 3.6% expected. Core CPI climbed 0.3% vs. 0.2% expected, with annual core inflation reaching 2.6% vs. 2.5% forecast. Gasoline prices surged 9.1%, energy jumped 5.2%, and real earnings fell 0.5%, highlighting renewed pressure on consumers.

BLOOMBERG EXPECTS U.S. INFLATION TO SURGE TO 3.7% Bloomberg Economics forecasts headline CPI rising 0.6% MoM, pushing annual inflation to 3.7%, up from 3.4%. Core CPI is expected to rise just 0.23% MoM, with annual core inflation edging up to 2.46%. Core goods inflation is set to accelerate, while services inflation is expected to cool.

BLOOMBERG EXPECTS U.S. INFLATION TO SURGE TO 3.7% Bloomberg Economics forecasts headline CPI rising 0.6% MoM, pushing annual inflation to 3.7%, up from 3.4%. Core CPI is expected to rise just 0.23% MoM, with annual core inflation edging up to 2.46%. Core goods inflation is set to accelerate, while services inflation is expected to cool.

This Week: 1. Monday bond market is closed but market is open. Bank holiday 2. Tuesday, ADP Weekly Employment Change 3. Wednesday, CPI Inflation: Core inflation hit its lowest level in 5 years last month. The next reading will show whether inflation is cooling or picking up again. 4. Thursday: PPI Inflation and Initial Jobless Claims 5. Friday, Kevin Warsh Speech Earnings this week mainly give us a pulse on banks/$XLF and a couple important semis.

This Week: 1. Monday bond market is closed but market is open. Bank holiday 2. Tuesday, ADP Weekly Employment Change 3. Wednesday, CPI Inflation: Core inflation hit its lowest level in 5 years last month. The next reading will show whether inflation is cooling or picking up again. 4. Thursday: PPI Inflation and Initial Jobless Claims 5. Friday, Kevin Warsh Speech Earnings this week mainly give us a pulse on banks/$XLF and a couple important semis.

BREAKING: The S&P 500 is now worth a record $71.3 trillion, up +24% from its March 30th low. This pushes the total market cap of the US stock market above $82 trillion. That's ~7.5 TIMES larger than China, the world's 2nd largest stock market, and 28 times larger than Germany. Asset owners are winning.

BREAKING: The S&P 500 is now worth a record $71.3 trillion, up +24% from its March 30th low. This pushes the total market cap of the US stock market above $82 trillion. That's ~7.5 TIMES larger than China, the world's 2nd largest stock market, and 28 times larger than Germany. Asset owners are winning.

U.S. GASOLINE AND DIESEL PRICES EASE, BUT REMAIN SHARPLY HIGHER U.S. regular gasoline fell slightly to $4.354 per gallon, but remains $1.23 higher than a year ago. Diesel saw a much larger weekly decline, falling 18.3 cents to $6.199 per gallon, yet remains $2.49 above year-ago levels. The Lower Atlantic recorded the largest declines, with gasoline falling 23.6 cents and diesel dropping 25.4 cents.

U.S. GASOLINE AND DIESEL PRICES EASE, BUT REMAIN SHARPLY HIGHER U.S. regular gasoline fell slightly to $4.354 per gallon, but remains $1.23 higher than a year ago. Diesel saw a much larger weekly decline, falling 18.3 cents to $6.199 per gallon, yet remains $2.49 above year-ago levels. The Lower Atlantic recorded the largest declines, with gasoline falling 23.6 cents and diesel dropping 25.4 cents.

JUST IN: Elon Musk's SpaceX $SPCX surges to $175, surpassing a $2.38 trillion market cap.