Investing.com -- U.S. nuclear power is poised for significant growth, with two major themes said to be driving the industry's future: expansion of domestic capacity and...
Investing.com -- U.S. nuclear power is poised for significant growth, with two major themes said to be driving the industry's future: expansion of domestic capacity and localization of enriched uranium supply.
According to Daiwa Capital Markets, these developments could unlock billions in new markets while reshaping the energy landscape.
Nuclear equipment
Daiwa explained in its research note to clients that the US Department of Energy (DOE) aims to add 35 gigawatts (GW) of new nuclear capacity by 2035, a 36% increase from 2023 levels. This is said to be part of a broader target to triple capacity by 2050, as announced during COP29.
The firm notes that achieving this milestone would require 15 GW of annual additions from 2040 onward, contributing to net-zero emissions goals. Daiwa estimates that this growth trajectory opens up a $101 billion market for nuclear power equipment manufacturers.
Daiwa believes the “long-term growth narrative [is] reaffirmed with [the] U.S. eyeing 35GW additional capacity by 2035; a USD101bn market to be unlocked.”
They add that companies such as GEV, BWXT, and Fluor (NYSE:FLR) are positioned to benefit, given the estimated capital cost of $6,041 per kilowatt.
Enriched uranium
The firm notes that a recent Russian counter-ban on enriched uranium exports to the US has intensified efforts to localize nuclear fuel supply.
Russia is said to currently account for 44% of global uranium enrichment capacity. The US ban on Russian uranium, enacted in May, leaves a 27% shortfall in enriched uranium demand domestically.
Daiwa expects a $443 million market for domestic enrichers, highlighting companies like Centrus Energy (NYSE:LEU) and Honeywell (NASDAQ:HON) as beneficiaries.
While inventories of uranium oxide (U3O8) remain robust, covering 2.9 years of demand, “Localisation of nuclear fuel is likely now a priority,” Daiwa said. Enrichment growth will likely outpace benefits to miners in the near term.
Daiwa sees the U.S. nuclear revival as part of a global trend, with similar optimism for China’s nuclear ambitions, signaling a robust outlook for the sector.
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Stock market today: Dow closes at record, S&P 500, Nasdaq rise as Wall Street notches strong weekly gains
US stocks closed near session highs on Friday as investors surveyed President-elect Donald Trump's efforts to build his team and bitcoin's (BTC-USD) bid to reach a key milestone.
The S&P 500 (^GSPC) advanced 0.3%, while the Dow Jones Industrial Average (^DJI) gained over 400 points, or almost 1% to close at a record. The tech-heavy Nasdaq Composite (^IXIC) rose 0.2%.
The major gauges closed out the week with wins of over 1%, despite getting it off to a lackluster start as the post-election rally stalled.
Markets regrouped after Nvidia's (NVDA) earnings fell short of definitively settling the question of whether AI would keep boosting stocks. Some of the "Magnificent Seven" tech megacap stocks closed lower on Friday, also dogged by the potential breakup of Alphabet (GOOG, GOOGL).
Wall Street is still waiting to learn who Trump will tap for his Treasury secretary — an announcement that could sway markets, given its importance to the economy. The president-elect tapped former Florida Attorney General Pam Bondi to be the US attorney general after his prior pick, Matt Gaetz, withdrew his name from consideration on Thursday.
Meanwhile, surging bitcoin continued to move near the landmark $100,000 level, buoyed by growing confidence that the Trump administration will support pro-crypto policies. The leading token broke above $99,500 early on Friday before retreating amid hopes for looser regulatory oversight after SEC Chair Gary Gensler said he will step down soon. Smaller cryptocurrencies also got a boost.
LIVE16 updates
Ines Ferré
Dow closes at record, S&P 500, Nasdaq rise as stocks notch weekly win
Stocks rose on Friday with the Dow Jones Industrial Average (^DJI) closing at a record high.
The blue chip index added more than 400 points, or about 1% while the S&P 500 (^GSPC) gained almost 0.4%. The Nasdaq Composite (^IXIC) rose slightly. All three major averages rose more than 1% for the week.
The 'Magnificent 7' stocks were mixed on Friday with Nvidia (NVDA) shares dipping more than 3% while Tesla (TSLA) shares popped almost 4% on Friday, helping lift the Consumer Discretionary (XLY) sector.
Investors also gravitated towards Industrials (XLI), and Financials (XLF) which also led the weekly gains.
Oil moved higher for the week as traders priced the threat of a supply disruption amid an escalating Russia-Ukraine war.
Meanwhile Bitcoin (BTC-USD) hovered around $99,200 as of 4 p.m. ET as investors watched the cryptocurrency climb toward the $100,000 milestone.
Next Thursday the stock market will be closed due to the Thanksgiving holiday.
Ines Ferré
Consumer Discretionary, Industrials, Financials lead weekly gains
The biggest winning sectors this week were the ones leading Friday's gains — Consumer Discretionary (XLY), Industrials (XLI), and Financials (XLF).
Here's a 5-day chart of the sector action.
Consumer Discretionary includes EV giant (TSLA), which is up for the week. Investors have also been rotating into Industrial stocks and bank stocks since Donald Trump's presidencial win earlier this month.
Ines Ferré
Oil surges as Ukraine-Russia war intensifies
Oil moved up more than 1.5% on Friday as the Russia-Ukraine war escalated.
West Texas Intermediate (CL=F) futures climbed to settle at $71.24 per barrel, while Brent (BZ=F), the international benchmark, rose above above $75.
Russian President Vladimir Putin said on Friday he will continue testing a new missile after a recent strike against Ukraine in response to Kyiv’s use of US and British made weaponry this week.
Crude prices were on pace for a weekly gain amid concerns that an escalated war could lead to the interruption of Russian supply.
Ines Ferré
Nvidia near session lows, down 3%
Nvidia (NVDA) shares dipped more than 3% to hit session lows on Friday afternoon despite quarterly results earlier this week that beat analyst expectations.
Enthusiasm over how much higher shares of the chip giant can run seems to have stalled as investors have rotated out of the AI darling and into Consumer Discretionary (XLY), Industrials (XLI), and Financials (XLF).
Ines Ferré
Microsoft begins rolling out Recall feature to developers as AI PC push continues
Yahoo Finance's Dan Howley reports:
Microsoft (MSFT) is preparing to roll out its long-delayed artificial intelligence-powered Recall feature for Windows 11 PCs to developers as part of its Windows Insider program.
The company initially announced Recall back in May when it debuted its Copilot+ PCs, AI PCs that have a specific set of features for running native AI applications. Recall is designed to capture screenshots of the various tasks you perform while using your computer, whether that’s browsing the web or working on a document.
Read more here.
Ines Ferré
Bitcoin rises above $99,000 as token flirts with major milestone
Bitcoin (BTC-USD) rose back above $99,000 as investors watched the cryptocurrency climb toward the $100,000 milestone.
The token has been at the center of the Trump trade over optimism that the incoming administration will implement pro-crypto policies.
Year to date, bitcoin is up more than 120%.
Ines Ferré
Tesla shares pop 4% as stock heads for weekly win
Tesla (TSLA) shares popped 4% on Friday, helping lift the Consumer Discretionary (XLY) sector.
Shares of the EV giant are on track for a weekly win.
The stock is up roughly 40% since the presidential elections earlier this month over optimism that CEO Elon Musk's support for President-elect Donald Trump will result in looser regulations around autonomous driving.
Alexandra Canal
DirecTV, Dish will no longer merge
Satellite TV provider DirecTV (T, TPG) will no longer merge with rival Dish Network (SATS) after bondholders rejected the offer.
The deal, which was contingent on a key debt exchange, would have created one of the nation's largest pay-TV providers. Both companies had discussed a possible combination more than two decades ago.
“While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV’s balance sheet and our operational flexibility,” DirecTV CEO Bill Morrow said in a statement.
Shares in EchoStar, which owns Dish Network, fell by more than 4% on Friday following the news.
The deal would have helped aid EchoStar's heavy debt load while also helping cut costs for the owners of DirecTV. AT&T spun off DirecTV in 2021, moving it into a joint venture with private equity investor TPG. At the time, it was valued at about $16 billion with the telecom giant taking a $15.5 billion impairment charge in 2020 to account for subscriber losses.
DirecTV was dealt yet another blow after it lost its coveted Sunday Ticket package to Alphabet's YouTube TV (GOOGL, GOOG) in late 2022.
Amid those struggles, AT&T recently revealed it would sell its entire 70% stake to TPG for $7.6 billion in a move that allows the telecom operator to fully exit the TV business. That deal is still on.
AT&T previously had agreed to hold on to its stake in DirecTV for a three-year period, which expired on July 31.
Ines Ferré
Nvidia stock down more than 2%, drags on Nasdaq
Nvidia (NVDA) shares dropped more than 2% on Friday, dragging on the Nasdaq Composite (^IXIC).
Shares of the AI chip heavyweight opened in the red after wavering between positive and negative territory on Thursday in reaction to the company's latest quarterly results.
Other 'Magnificent Seven' stocks were also under pressure, with Alphabet (GOOGL, GOOG) down more than 1% after losing more than 4% in the prior session. E-commerce giant (AMZN) was also down less than 1%.
Meanwhile, Tesla (TSLA) stock rose more than 1%.
The Nasdaq was struggling to stay in green territory, down roughly 0.3% by 10:30 a.m. ET.
Josh Schafer
US economic output hits highest level since April 2022
US economic output is roaring as businesses prepare for lower interest rates and a new administration in Washington.
S&P Global's flash US composite PMI, which captures activity in both the services and manufacturing sectors, came in at 55.3 in November, up from 54.1 in October. Economists had expected the index to tick up to 54.1.
The composite PMI reading for November also signaled the fastest expansion of business activity since April 2022.
Chris Williamson, chief business economist at S&P Global Market Intelligence, said the data shows business ramping up activity amid a changing operating environment, headed into 2025.
“The business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high," Williamson said. "The prospect of lower interest rates and a more pro-business approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November."
Laura Bratton
Super Micro on track for over 65% weekly gain
Super Micro Computer (SMCI) — an AI server maker that uses Nvidia's chips and has a major deal with Elon Musk's xAI — continued a sharp ascent Friday.
Shares rose over 9% in early trading, putting the stock on track to record a weekly gain of over 65%.
The stock's rally this week has been driven by the company's announcement that it's hired a new auditor and submitted a compliance plan to avoid delisting by the Nasdaq. Super Micro's prior accountant, Ernst & Young, resigned in late October, saying it was "unwilling to be associated with the financial statements prepared by management," and the server maker has been at risk of delisting.
Super Micro is reportedly being investigated by the Department of Justice over allegations of accounting violations and other questionable business dealings outlined in a scathing report by short seller firm Hindenburg Research in late August.
Laura Bratton
Reddit stock plummets on report of 7.8 million share sale
Reddit (RDDT) stock fell over 8% in early trading on Friday as investors reacted to a Bloomberg report that a company shareholder — Conde Nast parent Advance Magazine Publishers Inc. — is looking to establish a credit facility using its stake in the social media platform.
Citing people familiar with the matter, Bloomberg reported that Advance Magazine Publishers Inc. is offering 7.8 million shares for $145.38 to $148.54 each, which would be valued at as much as $1.2 billion. That price range represented as much as an 8% discount on Reddit's closing price Thursday of $158.
Reddit stock has been on a massive rally over the past month, surging more than 90% since its earnings beat in late October.
The social media company went public in March in one of 2024's few hot IPOs, surging nearly 50% after its debut.
Shares rose 16% on Thursday alone.
Ines Ferré
Dow gains 250 points as S&P 500, Nasdaq also rise
The Dow Jones Industrial Average (^DJI) added 250 points, or 0.6%, shortly after the market open as shares of Home Depot (HD), Honeywell (HON), and Nike (NKE) rose.
The S&P 500 (^GSPC) gained 0.4%, while the Nasdaq Composite (^IXIC) stepped above the flat line.
Ines Ferré
Stocks waver at open, bitcoin eyes $100,000
Stocks wavered at the open on Friday, but the major averages were still on track to end the week with wins. Meanwhile, investors watched the price of bitcoin (BTC-USD), with the leading token trading a stone's throw away from $100,000.
The S&P 500 (^GSPC) rose slightly, while the Dow Jones Industrial Average (^DJI) was little changed. The tech-heavy Nasdaq Composite (^IXIC) fell slightly.
Alphabet (GOOGL, GOOG) shares extended losses after dropping more than 4% on Thursday amid the threat of a forced sale of Google's Chrome browser.
Bitcoin climbed above $99,400 early on Friday before retreating. The cryptocurrency has been on fire since Donald Trump's presidential victory earlier this month, amid optimism that his incoming administration will implement crypto-friendly policies.
By 9:30 a.m. ET, bitcoin was trading at just under $98,000.
Laura Bratton
Bitcoin flirts with $100,000
Bitcoin (BTC-USD) neared the $100,000 level Friday in its latest flirtation with the milestone.
Yahoo Finance's Julie Hyman reports on bitcoin's recent surge, up nearly 50% in the past month:
The most-held cryptocurrency has been surging since the US presidential election as the crypto community expects a more friendly regulatory regime with President-elect Trump as "HODLer-in-chief." That added to an already torrid rally this year, prompted by the introduction of spot bitcoin ETFs.
On the policy front, encouraging signs have been mounting: Coinbase (COIN) CEO Brian Armstrong reportedly met with Trump to discuss his picks for the head of the Securities and Exchange Commission. And SEC boss Gary Gensler and FDIC Chair Martin Gruenberg, seen as crypto foes by the industry, are stepping down around Inauguration Day.
Read the full story here.
Jenny McCall
Good morning. Here's what's happening today.
Economic data: S&P Global US manufacturing & services PMI (November preliminary); University of Michigan consumer sentiment (November final)
Earnings: No notable earnings releases.
Here are some of the biggest stories you may have missed overnight and early this morning:
YF columnist Rick Newman: Musk's DOGE is already overreaching
2025 Medicare premiums will eat into Social Security checks
Bitcoin's surging to $100K — and that's what it needs to do
Boeing CEO tells staff to focus on competition, not complaining
Gold gains, set for biggest weekly jump in 13 months
Honeywell to sell PPE business for $1.33B
Cryptos targeted by SEC rise after Gensler steps away
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Stock market today: Dow, S&P 500, Nasdaq rise as Wall Street notches strong weekly gains
US stocks closed near session highs on Friday as investors surveyed President-elect Donald Trump's efforts to build his team and bitcoin's (BTC-USD) bid to reach a key milestone.
The S&P 500 (^GSPC) advanced 0.3%, while the Dow Jones Industrial Average (^DJI) gained over 400 points, or almost 1%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.2%.
The major gauges closed out the week with wins of over 1%, despite getting it off to a lackluster start as the post-election rally stalled.
Markets regrouped after Nvidia's (NVDA) earnings fell short of definitively settling the question of whether AI would keep boosting stocks. Some of the "Magnificent Seven" tech megacap stocks closed lower on Friday, also dogged by the potential breakup of Alphabet (GOOG, GOOGL).
Wall Street is still waiting to learn who Trump will tap for his Treasury secretary — an announcement that could sway markets, given its importance to the economy. The president-elect tapped former Florida Attorney General Pam Bondi to be the US attorney general after his prior pick, Matt Gaetz, withdrew his name from consideration on Thursday.
Meanwhile, surging bitcoin continued to move near the landmark $100,000 level, buoyed by growing confidence that the Trump administration will support pro-crypto policies. The leading token broke above $99,500 early on Friday before retreating amid hopes for looser regulatory oversight after SEC Chair Gary Gensler said he will step down soon. Smaller cryptocurrencies also got a boost.
LIVE16 updates
Ines Ferré
Dow, S&P 500, Nasdaq notch weekly win
Stocks rose on Friday to end the week with gains.
The Dow Jones Industrial Average (^DJI) added more than 400 points, or about 1% as while the S&P 500 (^GSPC) gained almost 0.4%. The Nasdaq Composite (^IXIC) rose slightly. All three major averages rose more than 1% for the week.
The 'Magnificent 7' stocks were mixed on Friday with Nvidia (NVDA) shares dipping more than 3% while Tesla (TSLA) shares popped almost 4% on Friday, helping lift the Consumer Discretionary (XLY) sector.
Investors also gravitated towards Industrials (XLI), and Financials (XLF), sectors which also led the weekly gains.
Oil moved higher for the week as traders priced the threat of a supply disruption amid an escalating Russia-Ukraine war.
Meanwhile Bitcoin (BTC-USD) hovered around $99,200 as of 4 p.m. ET as investors watched the cryptocurrency climb toward the $100,000 milestone.
Next Thursday the stock market will be closed due to the Thanksgiving holiday.
Ines Ferré
Consumer Discretionary, Industrials, Financials lead weekly gains
The biggest winning sectors this week were the ones leading Friday's gains — Consumer Discretionary (XLY), Industrials (XLI), and Financials (XLF).
Here's a 5-day chart of the sector action.
Consumer Discretionary includes EV giant (TSLA), which is up for the week. Investors have also been rotating into Industrial stocks and bank stocks since Donald Trump's presidencial win earlier this month.
Ines Ferré
Oil surges as Ukraine-Russia war intensifies
Oil moved up more than 1.5% on Friday as the Russia-Ukraine war escalated.
West Texas Intermediate (CL=F) futures climbed to settle at $71.24 per barrel, while Brent (BZ=F), the international benchmark, rose above above $75.
Russian President Vladimir Putin said on Friday he will continue testing a new missile after a recent strike against Ukraine in response to Kyiv’s use of US and British made weaponry this week.
Crude prices were on pace for a weekly gain amid concerns that an escalated war could lead to the interruption of Russian supply.
Ines Ferré
Nvidia near session lows, down 3%
Nvidia (NVDA) shares dipped more than 3% to hit session lows on Friday afternoon despite quarterly results earlier this week that beat analyst expectations.
Enthusiasm over how much higher shares of the chip giant can run seems to have stalled as investors have rotated out of the AI darling and into Consumer Discretionary (XLY), Industrials (XLI), and Financials (XLF).
Ines Ferré
Microsoft begins rolling out Recall feature to developers as AI PC push continues
Yahoo Finance's Dan Howley reports:
Microsoft (MSFT) is preparing to roll out its long-delayed artificial intelligence-powered Recall feature for Windows 11 PCs to developers as part of its Windows Insider program.
The company initially announced Recall back in May when it debuted its Copilot+ PCs, AI PCs that have a specific set of features for running native AI applications. Recall is designed to capture screenshots of the various tasks you perform while using your computer, whether that’s browsing the web or working on a document.
Read more here.
Ines Ferré
Bitcoin rises above $99,000 as token flirts with major milestone
Bitcoin (BTC-USD) rose back above $99,000 as investors watched the cryptocurrency climb toward the $100,000 milestone.
The token has been at the center of the Trump trade over optimism that the incoming administration will implement pro-crypto policies.
Year to date, bitcoin is up more than 120%.
Ines Ferré
Tesla shares pop 4% as stock heads for weekly win
Tesla (TSLA) shares popped 4% on Friday, helping lift the Consumer Discretionary (XLY) sector.
Shares of the EV giant are on track for a weekly win.
The stock is up roughly 40% since the presidential elections earlier this month over optimism that CEO Elon Musk's support for President-elect Donald Trump will result in looser regulations around autonomous driving.
Alexandra Canal
DirecTV, Dish will no longer merge
Satellite TV provider DirecTV (T, TPG) will no longer merge with rival Dish Network (SATS) after bondholders rejected the offer.
The deal, which was contingent on a key debt exchange, would have created one of the nation's largest pay-TV providers. Both companies had discussed a possible combination more than two decades ago.
“While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV’s balance sheet and our operational flexibility,” DirecTV CEO Bill Morrow said in a statement.
Shares in EchoStar, which owns Dish Network, fell by more than 4% on Friday following the news.
The deal would have helped aid EchoStar's heavy debt load while also helping cut costs for the owners of DirecTV. AT&T spun off DirecTV in 2021, moving it into a joint venture with private equity investor TPG. At the time, it was valued at about $16 billion with the telecom giant taking a $15.5 billion impairment charge in 2020 to account for subscriber losses.
DirecTV was dealt yet another blow after it lost its coveted Sunday Ticket package to Alphabet's YouTube TV (GOOGL, GOOG) in late 2022.
Amid those struggles, AT&T recently revealed it would sell its entire 70% stake to TPG for $7.6 billion in a move that allows the telecom operator to fully exit the TV business. That deal is still on.
AT&T previously had agreed to hold on to its stake in DirecTV for a three-year period, which expired on July 31.
Ines Ferré
Nvidia stock down more than 2%, drags on Nasdaq
Nvidia (NVDA) shares dropped more than 2% on Friday, dragging on the Nasdaq Composite (^IXIC).
Shares of the AI chip heavyweight opened in the red after wavering between positive and negative territory on Thursday in reaction to the company's latest quarterly results.
Other 'Magnificent Seven' stocks were also under pressure, with Alphabet (GOOGL, GOOG) down more than 1% after losing more than 4% in the prior session. E-commerce giant (AMZN) was also down less than 1%.
Meanwhile, Tesla (TSLA) stock rose more than 1%.
The Nasdaq was struggling to stay in green territory, down roughly 0.3% by 10:30 a.m. ET.
Josh Schafer
US economic output hits highest level since April 2022
US economic output is roaring as businesses prepare for lower interest rates and a new administration in Washington.
S&P Global's flash US composite PMI, which captures activity in both the services and manufacturing sectors, came in at 55.3 in November, up from 54.1 in October. Economists had expected the index to tick up to 54.1.
The composite PMI reading for November also signaled the fastest expansion of business activity since April 2022.
Chris Williamson, chief business economist at S&P Global Market Intelligence, said the data shows business ramping up activity amid a changing operating environment, headed into 2025.
“The business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high," Williamson said. "The prospect of lower interest rates and a more pro-business approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November."
Laura Bratton
Super Micro on track for over 65% weekly gain
Super Micro Computer (SMCI) — an AI server maker that uses Nvidia's chips and has a major deal with Elon Musk's xAI — continued a sharp ascent Friday.
Shares rose over 9% in early trading, putting the stock on track to record a weekly gain of over 65%.
The stock's rally this week has been driven by the company's announcement that it's hired a new auditor and submitted a compliance plan to avoid delisting by the Nasdaq. Super Micro's prior accountant, Ernst & Young, resigned in late October, saying it was "unwilling to be associated with the financial statements prepared by management," and the server maker has been at risk of delisting.
Super Micro is reportedly being investigated by the Department of Justice over allegations of accounting violations and other questionable business dealings outlined in a scathing report by short seller firm Hindenburg Research in late August.
Laura Bratton
Reddit stock plummets on report of 7.8 million share sale
Reddit (RDDT) stock fell over 8% in early trading on Friday as investors reacted to a Bloomberg report that a company shareholder — Conde Nast parent Advance Magazine Publishers Inc. — is looking to establish a credit facility using its stake in the social media platform.
Citing people familiar with the matter, Bloomberg reported that Advance Magazine Publishers Inc. is offering 7.8 million shares for $145.38 to $148.54 each, which would be valued at as much as $1.2 billion. That price range represented as much as an 8% discount on Reddit's closing price Thursday of $158.
Reddit stock has been on a massive rally over the past month, surging more than 90% since its earnings beat in late October.
The social media company went public in March in one of 2024's few hot IPOs, surging nearly 50% after its debut.
Shares rose 16% on Thursday alone.
Ines Ferré
Dow gains 250 points as S&P 500, Nasdaq also rise
The Dow Jones Industrial Average (^DJI) added 250 points, or 0.6%, shortly after the market open as shares of Home Depot (HD), Honeywell (HON), and Nike (NKE) rose.
The S&P 500 (^GSPC) gained 0.4%, while the Nasdaq Composite (^IXIC) stepped above the flat line.
Ines Ferré
Stocks waver at open, bitcoin eyes $100,000
Stocks wavered at the open on Friday, but the major averages were still on track to end the week with wins. Meanwhile, investors watched the price of bitcoin (BTC-USD), with the leading token trading a stone's throw away from $100,000.
The S&P 500 (^GSPC) rose slightly, while the Dow Jones Industrial Average (^DJI) was little changed. The tech-heavy Nasdaq Composite (^IXIC) fell slightly.
Alphabet (GOOGL, GOOG) shares extended losses after dropping more than 4% on Thursday amid the threat of a forced sale of Google's Chrome browser.
Bitcoin climbed above $99,400 early on Friday before retreating. The cryptocurrency has been on fire since Donald Trump's presidential victory earlier this month, amid optimism that his incoming administration will implement crypto-friendly policies.
By 9:30 a.m. ET, bitcoin was trading at just under $98,000.
Laura Bratton
Bitcoin flirts with $100,000
Bitcoin (BTC-USD) neared the $100,000 level Friday in its latest flirtation with the milestone.
Yahoo Finance's Julie Hyman reports on bitcoin's recent surge, up nearly 50% in the past month:
The most-held cryptocurrency has been surging since the US presidential election as the crypto community expects a more friendly regulatory regime with President-elect Trump as "HODLer-in-chief." That added to an already torrid rally this year, prompted by the introduction of spot bitcoin ETFs.
On the policy front, encouraging signs have been mounting: Coinbase (COIN) CEO Brian Armstrong reportedly met with Trump to discuss his picks for the head of the Securities and Exchange Commission. And SEC boss Gary Gensler and FDIC Chair Martin Gruenberg, seen as crypto foes by the industry, are stepping down around Inauguration Day.
Read the full story here.
Jenny McCall
Good morning. Here's what's happening today.
Economic data: S&P Global US manufacturing & services PMI (November preliminary); University of Michigan consumer sentiment (November final)
Earnings: No notable earnings releases.
Here are some of the biggest stories you may have missed overnight and early this morning:
YF columnist Rick Newman: Musk's DOGE is already overreaching
2025 Medicare premiums will eat into Social Security checks
Bitcoin's surging to $100K — and that's what it needs to do
Boeing CEO tells staff to focus on competition, not complaining
Gold gains, set for biggest weekly jump in 13 months
Honeywell to sell PPE business for $1.33B
Cryptos targeted by SEC rise after Gensler steps away
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Top Midday Stories: Intuit Shares Fall After Q2 Guidance Falls Short of Expectations; Honeywell to Sell PPE Business
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Soaring Stocks to Buy for AI and Nuclear Growth: VST, OKLO, BWXT
Today’s episode of Full Court Finance at Zacks explores why Wall Street views nuclear energy stocks as an investment in the long-term growth of artificial intelligence (AI).
The episode then dives into three soaring nuclear energy stocks—BWX Technologies, Vistra, and Oklo—that investors might want to buy heading into December and hold for long-term growth.
See the Zacks Earnings Calendarto stay ahead of market-making news.
The U.S. wants to be an energy independent, dynamic, power-hungry economy while trying to cut back on fossil fuels. Nuclear is clean, reliable 24/7 baseload power with a proven track record.
Nuclear power plants produce maximum power more than 92% of the time, making nuclear about 2X more reliable than natural gas and roughly 3X times more than wind and solar.
Large data centers can consume nearly the same amount of electricity as a midsize city, and generative AI platforms like ChatGPT can use at least 10x the amount of energy as a Google search.
This backdrop is why technology giants Amazon, Alphabet, and Microsoft have made multi-billion-dollar nuclear power deals in 2024.
The buildout of the nuclear-powered economy will cost trillions of dollars and take decades, even though nuclear energy has supplied around 20% of U.S. electricity for over 30 years running.
The U.S. government has rolled out multiple efforts to support the nuclear energy resurgence, pledging to triple nuclear energy capacity by 2050. Outside of the U.S., China, India, and other key economies are going all in on nuclear.
Three of the top 10 S&P 500 stocks in 2024 are nuclear energy companies, including No. 1 Vistra.
All three of stocks we cover below are held in the Alternative Energy Innovators service at Zacks.
Buy and Hold BWXT for Long-Term Nuclear Energy Growth?
BWX Technologies BWXTis a top supplier of nuclear technologies, components, and fuel to the U.S. government. BWXT owns one of the largest commercial nuclear equipment manufacturing facilities and it’s expanding its reach to benefit from the coming nuclear energy boom.
BWX Technologies is building out its manufacturing capacity to “support ongoing and anticipated customers’ investments in Small Modular Reactors, traditional large-scale nuclear and advanced reactors, in Canada and around the world.”
BWX Technologies has landed deals and partnerships with the U.S. Department of Defense to help build a cutting-edge micro-nuclear reactor. It is also working alongside key commercial nuclear energy companies such as GE Vernova and SMR standout TerraPower.
BWXT posted a beat-and-raise Q3 in early November, benefiting from “tangible investments in nuclear solutions by end-users across our key defense, commercial power, and medical markets.” BWXT is projected to grow its revenue by 8% in 2024 and 6% next year to help boost its adjusted EPS by 7% and 6%, respectively.
BWXT’s upward earnings revisions help it earn a Zacks Rank #2 (Buy). BWXT shares have climbed 350% in the last 10 years to outpace the S&P 500’s 200%, including a 75% YTD run.
BWXT stock could face near-term profit-taking since it trades far above its 21-week moving average. But despite trading at all-time highs in terms of price, BWX Technologies trades at a 42% discount to its highs at a PEG ratio of 4.1.
Buy Skyrocketing Oklo Stock as a Home-Run Nuclear Energy Investment?
Oklo OKLOis a next-generation nuclear fission company that went public in May via a SPAC backed by Sam Altman of OpenAI and ChatGPT fame. Oklo is attempting to push forward old-school, proven nuclear energy technology. Oklo is a fission technology and nuclear fuel recycling firm aiming to build smaller nuclear power plants at scale to drive the AI data center explosion around the U.S.
Oklo plans to sell its nuclear power directly to customers as Amazon AMZN and other tech giants race to tap directly into nuclear plants to fuel their growing energy needs. Oklo obtained a site use permit from the U.S. Department of Energy in 2019. Oklo is growing its customer pipeline and aims to deploy its first nuclear reactor by 2027.
Oklo is a speculative, pre-revenue company that reported an adjusted Q3 loss of -$0.08 a share, matching our Zacks estimate. Thankfully, Oklo’s balance sheet is stellar, closing Q3 with $231 million in cash and equivalents and $294 million in total assets vs. $31 million in total liabilities. On top of that, President-elect Donald Trump recently selected Liberty Energy chief executive Chris Wright as his nominee for Energy Secretary—Wright serves on Oklo’s board.
Oklo stock is heavily shorted, helping fuel its 330% rally since early September as Wall Street dove into nuclear energy stocks.
Oklo soared on Thursday to retake its 21-day moving average after holding the line at its early May peaks. Oklo’s upward earnings revisions earn it a Zacks Ranks #2 (Buy) and it trades for around $25 a share which might intrigue some investors.
Buy the Top-Performing S&P 500 Stock VST for Long-Term Nuclear Growth?
Vistra VSTowns the second-largest competitive nuclear fleet and boasts the second-largest energy storage capacity in the country. The Texas-based firm serves around 5 million residential, commercial, and industrial retail customers across 20 states, including every major competitive wholesale market.
All in, Vistra is the largest competitive power generator in the U.S., with a portfolio spanning nuclear, solar, battery storage, natural gas, and beyond.
Vistra is benefitting directly from the energy-growth efforts in the U.S. Inflation Reduction Act. Vistra is projected to grow its revenue by 33% in FY24 and 13% next year to reach $22.2 billion. The energy powerhouse is expected to grow its adjusted earnings by 38% this year and 24% next year. And its 2024 earnings estimate has climbed recently.
Vistra shares soared roughly 330% in 2024 topping Nvidia NVDA and every other S&P 500 company. VST’s market-crushing performance is part of a 720% run in the last three years.
Vistra pays a dividend and trades at a 23% discount to the Utilities sector Energy in terms of its Price/Earnings-to-Growth (PEG) Ratio. Any pullback to Vistra’s 21-day or 50-day would mark a nice entry point.
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