Cheap on Earnings: Low Forward P/E Large Caps

The AI trade is narrow, and breadth is weak. Rotation talk favors large caps that trade at low forward earnings multiples and still earn cash. The basket spans banks, pharma, energy, software and hardware, all at mid-teens forward P/E or lower. The Russia sanctions waiver adds volatility to energy, but low multiples cushion any further de-rating. Catalysts: - 2026-10-16 XOM, CVX in focus as Trump waives Russia energy tariffs a week after the diesel deal (https://stocktwits.com/news-articles/markets/equity/trump-waives-russia-energy-tariffs-week-after-diesel-deal/cZxj6rdRBtJ) Launch basket (equal weight): JPM, NU, CRM, AMGN, ABBV, MRK, XOM, HPE Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.