NEVER FORGET
25 years ago today, the September 11th attacks took nearly 3,000 lives, just blocks from where the opening bell rings. This tragedy is as much a part of Wall Street’s history as every bull run and risk-off. So please join us in taking a moment to honor and remember the victims, their families, and the first responders. Never forget.
🟩 | US stocks rebounded today as oil prices slid, overriding a hot inflation report and surging rate hike odds, while snapping the DJIA’s longest daily losing streak since April.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
GAMESTOP, OKLO, SHOPIFY
📈 | GameStop (GME) climbed after CEO Ryan Cohen bought 1M shares.
📉 | Oklo (OKLO) slid after entering an at-the-market stock sale agreement.
📈 | Shopify (SHOP) popped on a fresh Outperform initiation.
📉 | Qualys (QLYS) fell after Wedbush downgraded it to Neutral.
Tomorrow's Trade Idea, Today
SEMI-BULLISH
Stock Spotlight
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Six-Dollar Sticker Shock
Truckers have a fresh reason to wince at the pump. Diesel topped $6 a gallon for the first time ever, up more than 60% from a year ago, as the Iran and Ukraine wars knock out refining capacity.
Morgan Stanley analyst Andrew Percoco sees a winner in the chaos: Tesla. In his view, $6 diesel is a sales rep for the electric Semi.
Keep On Truckin'
Tesla has started Semi production, and CEO Elon Musk wants self-driving working on the truck early in 2027.
By Morgan Stanley's math, an autonomous electric Semi would cut costs per mile by 20% versus a human-driven diesel rig and more than double annual miles to over 215K.
Annual profit per truck, excluding overhead, would jump more than 400% to about $202K. Add $12K to $18K a month per truck in self-driving software revenue, per Percoco.
Semi-Committed
Don't expect a highway takeover yet. Musk has conceded Semis will remain a small slice of Tesla's fleet through year-end, and shares barely budged on the note.
Still, at $6 diesel, the pitch practically drives itself.
Do you own any shares of Tesla (TSLA)?
OVERHEARD ON THE STREET
🏦 | Odds of a Fed rate hike next week jumped to nearly 90% after today’s hotter-than-expected CPI report, showing consumer prices rose 3.4% year-over-year.
🏥 | President Trump announced $500 Obamacare refunds for nearly 1M people starting in October.
🚢 | Iran-backed Houthis reportedly seized Yemen's Perim Island, tightening their grip on the Bab el-Mandeb oil choke point.
🚜 | Record diesel prices are squeezing US farmers mid-harvest for corn and soybeans.
🤖 | Dozens of lawmakers are pushing new AI regulations after a departing Anthropic researcher's viral doomsday warning.
THURSDAY’S POLL RESULTS
Do you own any shares of Apple Inc. (AAPL)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — “Apple is one of the few mega caps where ‘boring’ is the point, predictable cash flow, excellent capital return discipline, and a balance sheet built for bad weather. That’s why I keep it as a core position rather than a trade.”
