U.S. stocks declined Tuesday (SPX -0.2%, NDX -1.0%) after Samsung’s strong earnings left investors unimpressed, triggering sharp drops in AI chip stocks (Samsung -8%, SK Hynix -7%, MU -6%). Brent crude rose 1.3% to $73/bbl following an Iranian strike on a Qatari LNG tanker near the Strait of Hormuz. 10-year yields climbed to 4.50%, while Bitcoin, gold, and silver fell. S&P 500 2026 EPS estimates have risen +25% YoY to $345 amid AI and energy gains. I remain cautious on $TSLA despite strong 2Q EV deliveries, given the likely commoditization of unsupervised autonomy and an elevated valuation.
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