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@GFXFTs: [转推] LiveSquawk reposted 🚨 GGMA Weekend Headlines: Trump Weighs Iran Options as Lagarde Sees Inflation Staying High 🇮🇷 President Trump's advisers are split between ending the Iran war and resuming strikes, the WSJ reports. Qatar is mediating a deal that would move almost immediately into nuclear talks. ☢️ Iran is handing out iodine tablets near its nuclear sites amid fears of a US strike on Pickaxe Mountain, the Times reports. Tehran is also in talks with Moscow on Russian S-400 air defences, according to the Telegraph. 🇪🇺 ECB President Christine Lagarde says inflation will stay high in the coming quarters. She would not commit to a December rate increase, but said it would take "significant changes" to alter the direction of travel. 🏦 ECB candidate Pablo Hernández de Cos urges vigilance on inflation risks. Euro-area finance ministers discuss him and Klaas Knot on Monday. 🇺🇸 San Francisco Fed President Mary Daly says the Fed will likely need to raise rates further to bring inflation down, and called the tech-stock repricing "painful" but orderly, Reuters reports. 🇨🇳 China's central bank bought gold for a 24th straight month, adding 830,000 ounces in October. 💻 Microsoft is winding down a deal to rent AI cloud capacity from Oracle, Bloomberg reports. 🔍 China's spy agency recruited a businesswoman who targeted Nvidia's Jensen Huang, the New York Times reports. House committees have asked him to brief them. 🇦🇺 Australian auction clearance rates rose to 51.5% from a six-year low, according to Cotality. 📊 Weekend prices on Hyperliquid perpetual futures, Sunday 20:46 CET (change over 24 hours | over two days, since Friday 20:00 CET): S&P 500 7,398 (+0.2% | -0.2%) Nasdaq 100 27,048 (+0.3% | -0.2%) Brent $96.59 (-0.9% | -1.0%) WTI $89.74 (-0.7% | -0.6%) Gold $4,066 (-0.2% | -0.3%) EUR/USD 1.1163 (+0.1% | +0.1%) USD/JPY 158.38 (+0.1% | +0.1%) Bitcoin $75,898 (+0.2% | +0.2%) China publishes October CPI and PPI at 02:30 CET on Monday. US CPI on Tuesday is seen rising 0.3% m/m in a Bloomberg survey, the last reading before the Fed's December meeting. Try GGMA free for 30 days, no credit card needed: [链接预览] Create account | GGMA

BREAKING: House Democratic leader Hakeem Jeffries has backed impeaching Secretary of Defense Pete Hegseth, per Bloomberg

IRNA: BLASTS HEARD ON IRAN’S QESHM ISLAND; NO OFFICIAL CONFIRMATION FROM TEHRAN

IRNA SAYS EXPLOSIONS HEARD IN IRAN'S QESHM ISLAND; NO OFFICIAL IRANIAN CONFIRMATION

IRNA: blasts heard on Iran’s Qeshm Island; no official confirmation from Tehran

Out Of 45 Data Center Votes Across America, Exactly One Went The Industry's Way [链接预览] zerohedge.com Out Of 45 Data Center Votes Across America, Exactly One Went The Industry's Way Long term, there's some really serious implications that I don't think have been fully fleshed-out...

WASHINGTON NOW WANTS PROGRESS REGARDLESS OF WHO FORMS ISRAEL’S NEXT GOVERNMENT AND IS PRESSING FOR ISRAEL’S FULL COOPERATION - AXIOS

TRUMP URGED NETANYAHU TO MOVE FORWARD WITH HIS GAZA PEACE PLAN FOLLOWING ISRAEL’S ELECTIONS, A PLAN THAT INCLUDES DISARMING HAMAS, DEMILITARIZING GAZA AND TRANSFERRING GOVERNANCE TO A PALESTINIAN TECHNOCRATIC ADMINISTRATION, WITH IMPLEMENTATION STALLED FOR MONTHS LARGELY DUE TO ISRAELI POLITICAL OPPOSITION - AXIOS

U.S. SECRETARY OF STATE RUBIO OVERSAW THE DRAFTING OF A MEMO THIS SPRING THAT WARNED OF THE NVIDIA HEAD’S ENTANGLEMENT WITH A CHINA SPY, WITH THE MEMO CIRCULATED BEFORE TRUMP’S TRIP TO CHINA IN MAY - NYT

IRAQ HAS REACHED UNDERSTANDINGS WITH US TO ALLOW OIL EXPORTS THROUGH STRAIT OF HORMUZ VIA SHIPPING LANE CLOSE TO OMAN, EXPORT OPERATIONS REMAIN ONGOING - REPORT CITING IRAQI FOREIGN MINISTER

"I Personally Paid Laura Loomer": Second Insider Says Cash Bought Access To Trump - And She Still Talks To Him Daily [链接预览] "I Personally Paid Laura Loomer": Second Insider Says Cash Bought Access To Trump - And She Still...

IAEA: POWER RESTORED TO ZAPORIZHZHYA NUCLEAR PLANT

Bloomington, Indiana, has banned artificial superintelligence. The city council voted 7–0 to bar superintelligent AI within city limits, including through apps and browsers. Violators face fines and possible prosecution. Lifting the ban would take approval from more than 95% of registered voters.

IAEA: power restored to Zaporizhzhya nuclear plant

Inflation Data, Constellation Energy, Skydance, Applied Materials, and More to Watch This Week — Barrons.com. By Dan Lam Last Thursday, equities suffered their worst single-day drop since the tariff turmoil in April 2025 on their way to posting a fourth consecutive weekly decline. The Nasdaq Composite index sank 5.5% on Thursday, and 3.4% for the week, while the S&P 500 fell 4.4% and 2.7%, over the same respective periods. A Democratic landslide in Tuesday's midterm elections led investors to flee chip stocks on fears that the data-center buildout will be slowed by increased scrutiny from the newly-elected Democratic Congress and governors, especially in Georgia and Texas. Both states have outgoing governors who were seen as more receptive to data centers. The VanEck Semiconductor exchange-traded-fund fell 11.2% last week and has plummeted 31% from its late-June peak; the ETF, however, is still up 29% this year. Inflation data is the focus this week, with two reports from the Bureau of Labor Statistics on tap. With the labor market in solid shape, it will be inflation that determines that path of interest rates in the near term. The BLS will release the consumer price index on Tuesday and the producer price index on Friday. Nearly 90% of S&P 500 companies have reported third-quarter results, and year-over-year earnings growth is about 29% so far. That's a slight deceleration from the second quarter's 33% jump, and apparently not enough for investors, as the S&P 500 is down 3.6% since the beginning of October. Eleven more S&P 500 companies are slated to report this week, including Constellation Energy and Skydance on Monday, and Applied Materials and Cisco Systems on Thursday. Monday 11/9 Constellation Energy, Ferguson Enterprises, KKR, NRG Energy, Occidental Petroleum, Rocket Lab, Skydance, and Take-Two Interactive Software announce earnings. Tuesday 11/10 Alcon, CoreWeave, On Holding, TransDigm Group, and Venture Global report quarterly results. The National Federation of Independent Business releases its Small Business Optimism Index for October. Consensus estimate is for a 97.7 reading, roughly even with the September figure. The Bureau of Labor Statistics releases the consumer price index for October. Economists forecast a 0.3% month-over-month increase, following a 0.6% jump in September. The core CPI, which strips out volatile food and energy prices, is expected to rise 0.2%, one-tenth of a percentage point less than in September. The BLS won't release year-over-year statistics because the government shutdown between October 1st and November 12th of last year precluded October 2025 data from being collected. Wednesday 11/11 Corteva, Franco-Nevada, and Vylor release earnings. Fixed-income markets are closed in observance of Veterans Day. Thursday 11/12 Applied Materials, Brookfield, Cerebras Systems, Cisco Systems, Nebius Group, and Nu Holdings announce quarterly results. The National Association of Realtors reports existing-home sales for October. Consensus estimate is for a seasonally adjusted annual rate of 3.85 million homes sold, about 3% less than in September. Friday 11/13 The BLS releases the producer price index for October. The consensus call is for a 6.6% year-over-year jump, three-tenths of a percentage point more than in September. The core PPI is expected to rise 5%, matching the September data. Write to Dan Lam at dan.lam@dowjones.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

IRAN'S FOREIGN MINISTER ARAQCHI: US ELECTIONS' RESULTS BROUGHT PAUSE TO MEDIATORS WORK

IRAN’S FOREIGN MINISTER ARAGHCHI SAYS THE U.S. ELECTION RESULTS BROUGHT A PAUSE TO THE MEDIATORS’ WORK, AND THAT IRAN HAS TO WAIT A BIT FOR THE MEDIATORS TO RESUME THE DIPLOMATIC PATH

Iran's Araqchi: must wait for mediators to restart diplomatic process

Iran's Foreign Minister Aragchi: US election outcomes pause mediators' efforts

TRUMP ON IRAN: ‘HIGHLY IMPROBABLE’ US WILL RETURN TO WAR IF NEGOTIATIONS PROCEED – CNN

IRAN NAVY: OIL TANKER IGNITES AFTER HITTING NAVAL MINE EAST OF STRAIT OF HORMUZ - IRANIAN MEDIA

U.S. TREASURY REQUESTED IRAQ CLOSE MOST BORDER CROSSINGS WITH IRAN AND KEEP ONLY TWO OPEN, THE IRAQI FOREIGN MINISTER TELLS AL JAZEERA

Operation Highway Shield Removes Nearly 400 Truckers, Vehicles From US Roads

US Treasury asked Iraq to shut most border crossings with Iran, keep just two open: Iraqi foreign minister tells Al Jazeera

BREAKING: House Republican leaders are bracing for enough GOP defections to impeach Defense Secretary Pete Hegseth when the measure comes to a vote this week, per Axios

【最新内容：zerohedge @zerohedge · 2026-11-08T18:24:34.000Z】 You halt credit, the entire AI supercycle collapses, end of story. Read this for the definitive snapshot of the AI credit market 【引用内容：zerohedge @zerohedge · 2026-11-07T17:58:27.000Z】 Credit Crunch Imminent: Hyperscalers Blow Past Full-Year Debt Forecast As AI Bond Concessions Soar https://zerohedge.com/markets/credit-crunch-imminent-hyperscalers-blow-past-full-year-debt-forecast-ai-bond-concessions…

Saudi-led coalition: Yemen's Houthis utilized platform in failed assault on eastern region

Saudi-led coalition: ballistic missile launch platform destroyed in Yemen's Sanaa

The Senate could vote as soon as this week on a bipartisan bill to speed up energy projects and make AI data centers pay their own way on the power grid. The Bipartisan American Affordability and Jobs Act would: Shorten environmental reviews for energy infrastructure, and the window to challenge projects in court Require data centers to pay for the electricity and grid upgrades they need, instead of passing costs on to other customers Make large data center developers put up money upfront in case a facility closes before new power projects are paid off It’s led by Sens. Shelley Moore Capito (R-WV), Sheldon Whitehouse (D-RI), Mike Lee (R-UT) and Martin Heinrich (D-NM).

Russian Defense Ministry: 50 Ukrainian drones shot down over four Russian regions and the Crimean Peninsula

Trump: The Iranians really want to reach an agreement.

Trump: Tehran now has only 10% of its missile capabilities and 15% of its drone capabilities left.

Trump: We destroyed all of Iran’s air defenses.

Trump: We have 38 bridges in our target bank in Iran, and we can destroy them all in just one hour.

Trump: The United States has identified infrastructure targets inside Iran in the event military operations resume.

Trump: U.S. forces are stationed in the region and are ready to carry out strikes against Iran if necessary.

Trump to CNN: I am unlikely to order a return to war with Iran if progress continues in the talks.

Who Wins When The Robots Sell And The CFOs Buy?

Israeli military: Operations room and dozens of weapons found near a UN site in southern Lebanon

Palestinian media: Israeli shelling targets the eastern part of al-Maghazi camp in central Gaza Strip

TRUMP ON IRAN: 'HIGHLY UNLIKELY' WILL ORDER US BACK TO WAR WITH IRAN IF TALKS CONTINUE TO PROGRESS

SEMICONDUCTORS vs THE S&P 500 This is how both the S&P 500 $VOO and the Semiconductor ETF $SMH have performed so far in 2026 +28.8% - Semiconductors +8.7% - S&P 500 Just a couple weeks ago SMH was up by more than 60% on the year SMH is still outperforming the S&P 500 by more than 3x so far this year If ETFs are interesting for you, you should check out http://TheETFTracker.com That is where this visual is from 🫡

Chamath: “I got it totally wrong. This election was a complete and total repudiation about the state of the economy. The economy is broken.” “What I don't think I understood clearly enough, and I think that this election has made it extremely clear, is that since COVID, we have moved past political ideology. And I want to say this again, I do not think Democrats or Republicans matter. That is my real takeaway after this election. There is a central bloc of people that vote on the prescient issues of our time. What are these people voting for? I think what they are shouting now, they were trying to signal, and now they are shouting, is a broad-based belief that the economy has completely decoupled from reality and is broken. The economic reality in America is broken.

SpaceX Schedules Starship Test 15. This Is the Cool Part. — Barrons.com. By Al Root SpaceX isn't superstitious. The company has scheduled the 15th test flight of its huge, fully reusable rocket, Starship, for Friday the 13th. That's this coming Friday, according to the company's website. The landing site listed is, notably, "Mechazilla." Mechazilla is essentially the launch tower that can catch the rocket on its return to Earth with mechanical arms, which SpaceX sometimes calls chopsticks. Catching the rocket is an incredible engineering feat. It will also aid in rapid reusability. SpaceX plans to launch Starship thousands of times a year. Right now, SpaceX launches its Falcon 9 partially reusable rocket hundreds of times a year. That's still impressive. SpaceX carries a majority of the world's cargo into orbit. Starship is much larger than a Falcon 9, designed to carry more than five times the mass to orbit, some 100 metric tons, with each launch. SpaceX needs Starship to deploy its AI data center satellites and its next-generation Starlink satellites. SpaceX plans to build Starmind, an AI data center in orbit. Starlink is SpaceX's space-based broadband product serving more than 13 million customers in more than 170 countries. Eventually, SpaceX plans to offer mobile wireless service using a combination of space and terrestrial wireless infrastructure. Starship is the technology that unlocks those space-based applications, which is why the test is key for investors. Catching the rocket will be another milestone in its development. SpaceX is planning to catch the upper and lower stages for the first time. SpaceX plans to deploy more third-generation Starlink satellites during the 15th test. The company hopes to have Starship fully operational by late 2027. Investors will watch that date closely. If it slips, it means slower progress on space-based AI and Starlink. Through Friday's trading, SpaceX stock was just below its June $135 IPO price after falling 9.1% over the past two weeks as investors became more worried that a Democratic midterm sweep would slow AI growth. SpaceX won't have to worry much about Blue or Red state AI policies if it can rapidly build a low-cost AI data center above the clouds. Write to Al Root at allen.root@dowjones.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

"Too Big To Rig", Too Divided To Agree: Democrats' Post-Landslide Agenda Fight Begins

Trump on Iran: ‘highly improbable’ US will return to war if negotiations proceed – CNN

Diwali Stock Picks 2026: Tata Steel, BEL, HDFC Bank - 25 brokerages reveal 187 shares to buy in Samvat 2083 | Full List. Stocks to buy, Nov. 8 -- Investors looking for stock ideas ahead of Samvat 2083 have a wide range of companies to track, with 25 brokerages collectively identifying 187 distinct companies across their Diwali and Samvat stock-pick lists. The combined research list features large-cap leaders, mid-cap companies and emerging businesses spanning sectors such as banking, financial services, automobiles, metals, technology, pharmaceuticals, infrastructure, power and consumer businesses. The compilation brings together visible stock recommendations from brokerages including Axis Securities, Motilal Oswal, HDFC Securities, Nirmal Bang, ICICI Securities, Religare Broking, Kotak Neo, JM Financial, InCred Equities, Ventura Securities, SBI Securities and Angel One, among others. The lists contain several stocks that appear across multiple brokerage recommendations, suggesting that these companies have attracted attention from more than one research house. Banks, industrial companies, technology businesses, power and infrastructure players, and consumer-facing companies feature prominently in the recommendations. Axis Securities' Diwali list includes Eternal, Larsen & Toubro, Axis Bank, Bharat Electronics, BEL, Bharti Airtel, Blue Star and CUMI. The recommendations cover financial services, engineering, defence, telecommunications and industrial businesses. Nirmal Bang's selections comprise Adani Ports, HDFC Securities, HDFC Bank, Nirmal Bang, ICICI Bank, Kotak Bank, Titan Company and UltraTech Cement. The list features banking and financial services alongside ports, consumer and cement businesses. Arihant Capital has identified Sheela Foam, GMM Pfaudler, CE Info Systems, Raymond Lifestyles, Nuvoco Vistas, HEG Advanced, Exide Industries and Navin Fluorine. Its recommendations span consumer products, industrial equipment, mapping technology, cement, graphite electrodes, batteries and specialty chemicals. Motilal Oswal's list includes Kotak Bank, Adani Ports, Titan Company, Eternal, BSE, SPR Auto, Shaily and Arvind. The selections cover financial services, ports, consumer businesses, exchanges, automobiles and textiles. Mirae Asset Sharekhan has recommended Mirae Asset Sharekhan, Radico Khaitan, Dee Development, Karnataka Bank, Lumax Auto Tech, Sagility and VA Tech Wabag. PL Capital's stock picks include One 97 Communications, Prince Pipes, Rentomojo, 5G Finserve, HBL Engineering, Jindal Steel, Marine Electricals and TARIL. The list includes companies from digital payments, pipes, financial services, engineering, steel and electrical equipment. KC Securities has identified HDFC Bank, ICICI Bank, Sansera Engineering, Jio Platforms, Grasim Industries, LIC Housing Finance, SBI and PowerGrid. HDFC Securities' recommendations comprise Ambuja Cements, Adani Power, Coal India, Maruti Suzuki, Can Fin Homes, KPR Mill, Tata Steel and Emcure Pharma. These picks provide exposure to cement, power, coal, automobiles, housing finance, textiles, steel and pharmaceuticals. Religare Broking's list includes Bajaj Finance, L&T, Kotak Bank, ICICI Bank, HCL Technologies, Tata Power, Glenmark Pharma and Symbiotec. Financial services, engineering, technology, power and pharmaceuticals feature in its selections. Kotak Neo has included APL Apollo Tubes, Eternal, HAL, Jubilant Ingrevia, Persistent Systems, Titan Company, Ujjivan Small Finance Bank and Cyient. Monarch's selections comprise Aster DM Healthcare, BEL, Bharti Airtel, Blue Star, CUMI, CCL Products, HDFC AMC and Indegene. The list features healthcare, defence, telecommunications, consumer products, industrial materials and asset management. JM Financial has identified ICICI Bank, BEL, PowerGrid, Sterlite Technologies, Gravita, Emcure Pharma, Eternal and Bharti Airtel. Geojit's stock picks include ICICI Bank, L&T, Kotak Bank, Eternal, Tech Mahindra, Samvardhana Motherson, Indian Hotels and PVR Inox. Its recommendations cover banking, engineering, technology, automobiles, hospitality and entertainment. SMIFS has identified ITC, L&T, Mazagon Dock, Olectra Greentech, Bharat Electronics, Coforge, Unimech Aerospace and Nimtech Aero. Eureka Securities' list comprises DLF, Deepak Nitrite, LTTS, CG Power, Kotak Bank, South Indian Bank, Aditya Infotech and Leela Palaces. Bajaj Broking has recommended M&M, Varun Beverages, CG Power Industries, GE Vernova, Tata Steel, Indian Hotels, Time Technoplast and Centrum Electronics. InCred Equities' selections include RHI Magnesita, HCL Technologies, Britannia, M&M, Indian Hotels, Tata Power, Blue Star and CESC. Jainam has identified Indian Hotels, HDFC Bank, Kotak Bank, Tech Mahindra, Bharti Hexa, L&T, Rolex Rings and Lemon Tree Hotels. Shriram, Choice International and Anand Rathi Shriram's stock picks comprise Aeroflex Industries, Radico Khaitan, Karur Vysya Bank, Navin Fluorine, Dr Lal PathLabs, ICICI Bank, Titan Company and Sona BLW. Choice International has recommended Aptus Value Housing Finance, Bajaj Consumer, CPCL, Coforge, Fractal Analytics, ITC Hotels, Granules and JK Cement. Anand Rathi's list includes SBI, Indo-MIM, Cemindia Projects, Shilpa Medicare, HDFC AMC, Tech Mahindra, Sudarshan Chemical and Kirloskar Pneumatic. Ventura Securities has identified Park Medi, HDFC Bank, One97 Communications, Meesho, LG Electronics, Ather Energy, Voltas and Lloyds Engineering. SBI Securities' recommendations include Tata Steel, Indian Hotels, MCX, Jyoti CNC, Sky Gold, Genus Power, Power Mech and Antelopus Selan. Equirus has selected HDFC Bank, M&M, Canara Bank, Hero MotoCorp, Time Technoplast, Technocraft, Regaal Resources and Frontier Springs. Angel One's stock picks comprise ICICI Bank, Northern Arc, Aarti Pharma, Shanti Gold, Ratnaveer, Precision Engineers India and AGI Infra. As the new Samvat begins, the focus is expected to shift towards companies with sustainable earnings, strong balance sheets and consistent cash-flow generation. Avinash Agarwal, Senior Vice President and Head of Equity at Bandhan Life, said the market outlook remained constructive, but returns were likely to be moderate and selective. "Earnings growth, rather than valuation expansion, is likely to be the primary driver of market performance going forward. Given the underperformance of large caps driven by FII outflows and the strong growth in midcaps, we expect the large- and midcap segments to do well," Agarwal said. He expects large- and midcap stocks to benefit when FIIs return, given the wider choice of industries and the investment scale available in these segments. Banking and financial services, healthcare, select industrials, infrastructure and consumption-oriented businesses remain among the key sectors to watch, subject to valuations and earnings prospects. Agarwal also highlighted the importance of disciplined asset allocation, staggered investments and a long-term investment horizon. He advised investors to view market corrections as opportunities to accumulate quality businesses rather than react to short-term sentiment. India's long-term growth prospects, he said, remained intact, with quality and earnings resilience central to wealth creation.

Could Nvidia's Spy Scandal Force Jensen Huang To Resign?

Tesla Isn't a Mag-Y Stock. This Is. — Barrons.com. By Al Root Tesla has always been a Magnificent Seven outlier. Investors should boot it from the list. And what should replace it? SpaceX, naturally. The Magnificent Seven was coined by BofA strategist Michael Hartnett in 2023, pointing out that they could keep investors safe, referencing the seven cowboys from the famous Western (which referenced the famous Japanese film, Seven Samurai). Strong balance sheets and cash flow from businesses such as Google Search were better than six-shooters. Like Chico in the famous Western, Tesla never felt like it belonged in the group. Tesla has built impressive EV and energy storage businesses, but the cash flow potential never matched the rest of the group. Tesla generated record free cash flow in 2022 of about $8 billion. Google owner Alphabet generated $60 billion that year. Apple's free cash flow topped $100 billion. Then there is valuation. Tesla stock trades at about 180 times earnings estimated over the next 12 months. The rest of the Mag-7 trades at an average of 22 times. And there are margins. Tesla's operating profit margin in the third quarter was a paltry 2.6%. That was worse than General Motors' 8.2% margin. Nvidia's projected third-quarter operating profit margin is 66%. SpaceX fits the group better. It isn't generating free cash now, but neither is Alphabet. Both are spending heavily on AI. But SpaceX has its cash cow: its space-based broadband business, Starlink, that serves more than 13 million customers in more than 170 countries using more than 11,000 satellites. Starlink's third-quarter operating profit margin was 45%. SpaceX stock also trades at about 40 times estimated earnings expected over the coming 12 months, a small premium to Apple. (SpaceX trades at a discount to Apple based on calendar year 2027 earnings, according to FactSet.) AI, low-valuation, and cash-generating business segment — SpaceX fits the bill. There is, of course, no official criteria for being a Magnificent Seven stock. Someone, eventually, will coin the Great Eight. Tesla might not be in that one, either. Not because of problems with the Tesla business, but because Tesla and SpaceX are likely to merge. Analysts and investors have speculated about a deal for months, and CEO (of both companies) Elon Musk said in October that both boards were evaluating a combination. Conventional wisdom says that SpaceX is the acquirer paying some premium in an all-stock deal. Depending on the day, three shares of SpaceX for one share of Tesla would mean Tesla shareholders end up owning roughly 49% of the combined company (on a fully diluted basis). In that scenario, SpaceX-Tesla would be valued at about $4 trillion (on a fully diluted basis) and trade for about 65 times 2027 earnings, with roughly 85% of earnings coming from SpaceX. Time will tell if Tesla and SpaceX investors will agree to that, or another, ratio. Congress shouldn't get in the way, despite the Democratic sweep. Deutsche Bank analyst Edison Yu wrote recently that he doesn't see Congress interfering with the job of the Federal Trade Commission and Justice Department. Those two entities approve mergers. "With Elon Musk having provided significant financial support to the Republicans, we think there is a perception of potential political retribution," added Yu. "While there are ways for Congress to interfere, nearly all dealings are conducted with executive-branch agencies." Tesla's days in the ranks of the Mag-7 tech giants might be numbered. Like Chico from the Western, Tesla will survive. It will likely be part of a much larger entity after combining with SpaceX. Write to Al Root at allen.root@barrons.com. This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.