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Sectors

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index decreasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%.The Philadelphia Oil Service Sector Index was falling 1.2%, and the Dow Jones US Utilities Index was down 0.4%.Front-month West Texas Intermediate crude oil rose 0.1% to $91.40 a barrel, and the global benchmark Brent crude contract added 0.7% to $96.17 a barrel. Henry Hub natural gas futures advanced 1.1% to $2.95 per 1 million BTU.In corporate news, Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported. Separately, Morgan Stanley upgraded Shell to overweight from equalweight and lifted its price target to $101.30 from $81.60. Shell shares were up 0.8%, while Equinor was shedding 1.2%.TotalEnergies (TTE) shares were down 0.5% after Morgan Stanley downgraded the stock to equalweight from overweight.BP's (BP) "turnaround" is gaining momentum as stronger commodity conditions, asset sales and cost cutting are expected to accelerate debt reduction and improve the company's balance sheet, RBC Capital Markets said in a note, after hosting a session with BP CFO Kate Thomson. BP shares were up 0.6%.Dominion Energy (D) shareholders have given consent to the company to proceed with the planned merger with NextEra Energy (NEE), according to regulatory filings Thursday. Dominion shares were shedding 0.6%, and NextEra was down 0.9%.

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Sectors

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks declined Friday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.8%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index was 0.4% lower.Front-month West Texas Intermediate crude oil shed 0.4% to $90.97 a barrel, and the global benchmark Brent crude contract rose 0.2% to $95.74 a barrel. Henry Hub natural gas futures added 1.6% to $2.96 per 1 million BTU.In corporate news, Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported Friday. Separately, Morgan Stanley upgraded Shell to overweight from equalweight and lifted its price target to $101.30 from $81.60. Shell shares were up 1%, while Equinor was shedding 1.2%.TotalEnergies (TTE) shares were down 0.8% after Morgan Stanley downgraded the stock to equalweight from overweight.Dominion Energy (D) shareholders have given consent to the company to proceed with the planned merger with NextEra Energy (NEE), according to regulatory filings Thursday. Dominion shares were shedding 0.5%, and NextEra was down 0.8%.

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Commodities

NextEra Shareholders Almost Unanimously Back Merger With Dominion

NextEra Energy (NEE) shareholders have backed a merger with industry peer Dominion (D), according to a message from NextEra Chief John W. Ketchum to staff on Thursday, adding that Dominion shareholders have also given their support to the deal.A NextEra filing to the US Securities and Exchange Commission showed that 99.47% of shareholder votes were cast in favor of the merger.Ketchum said there were a number of state and federal regulatory clearances yet to obtain, likely placing the deal's closure in H2, 2027, until which time the two companies would remain separate and independent.Both companies reported strong power demand growth in their recent earnings reports, including from data center projects.Price: $84.02, Change: $-0.05, Percent Change: -0.07%

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Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday After August Jobs Report Tops Estimates

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.03%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.5% in Friday's premarket activity, as the August jobs report topped estimates.US stock futures were mixed, with S&P 500 Index futures down 0.24%, Dow Jones Industrial Average futures slipping 0.34%, and Nasdaq futures gaining 0.5% before the start of regular trading.Nonfarm payrolls jumped by 162,000, well above the 55,000 jobs increase expected in a survey compiled by Bloomberg as of 7:15 am ET.The unemployment rate remained at 4.1%, as expected, while the labor force participation rate rose to 61.6% from 61.4% in July and the size of the labor force surged.In premarket action, bitcoin was up by 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.8% lower, Ether ETF (EETH) was down 2.91%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.38, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.07, and the iShares US Consumer Staples ETF (IYK) was up 0.8%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.64%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was inactive.Tesla (TSLA) shares were down 3.2% pre-bell after Future Fund Managing Director Gary Black Gary Black on X called the Cybercab event "largely a bust" because of its limited deployment details and the lack of a livestream.The autonomous cab service also came under investigation by the US National Highway Traffic Safety Administration over the process used to claim compliance with federal vehicle safety standards.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.7%, the iShares US Technology ETF (IYW) was roughly 0.5% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.02%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) rose by more than 1.3%, while the iShares Semiconductor ETF (SOXX) rose by 1.9%.Nvidia (NVDA) shares were up almost 1% in premarket activity after the company said its RTX platform is gaining new tools to simplify local AI agent deployment and also increased its equity investments to $99 billion, CNBC reported Friday.The company is also reportedly expected to invest billions of dollars in AI developer Thinking Machines Lab, The Information reported Thursday, citing the firm's existing investor, Andreessen Horowitz.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) dropped 0.2%, the Vanguard Health Care Index Fund (VHT) was down 1.2%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) gained 0.03%.Novo Nordisk (NVO) stock was down 2.2% premarket after the company said its charitable foundation and its Quantum Foundry Copenhagen company are planning to set up a new 5,300-square-meter quantum chip production facility in Copenhagen.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was down 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up nearly 1%, while its counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was over 1.1% higher.Robinhood Markets (HOOD) shares traded down 3.7% in early-hours activity after AMC Entertainment (AMC) CEO Adam Aron criticized Robinhood Markets (HOOD) on the recently launched tokenized version of AMC shares, referring to the practice as "contemptible" and "outrageous".IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced almost 0.1%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.GE Vernova (GEV) stock was up 0.6% before the opening bell after the company reported a deal with the Venezuelan government that is expected to help stabilize the country's power grid within a year by adding 1 gigawatt of new power, several media outlets reported Thursday, citing US Energy Secretary Chris Wright.EnergyThe iShares US Energy ETF (IYE) retreated by around 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.6%.NextEra Energy (NEE) stock was down 0.4% before the market open after Dominion Energy (D) and NextEra said shareholders have given consent to proceed with a planned merger between the companies, according to regulatory filings Thursday.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.7% to $90.93 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% to $2.92 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for November retreated by 0.5% to $4,515.20 an ounce on the Comex. Silver futures lost 0.3% to $67.49 an ounce. SPDR Gold Shares (GLD) was down by almost 0.1%, and the iShares Silver Trust (SLV) dropped by 0.04%.

Dow JonesNasdaq CompositeS&P 500$AMC$BETH$BITO$D$EEM$EETH$EXI$FAS$FAZ$GEV$GLD$HOOD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NEE$NVDA$NVO$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Energy Stocks Fall Pre-Bell Friday

Energy stocks were falling pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.7%.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 1.1% lower at $90.31 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1% to $94.54 per barrel, and natural gas futures were up 1.2% at $2.95 per 1 million British Thermal Units.Baker Hughes (BKR) said it won a contract from BP (BP) to provide offshore stimulation services across BP's UK North Sea operations. Baker Hughes shares were 0.4% higher premarket.Dorian LPG (LPG) has agreed to build three 90,000 cubic meter Panamax very large gas carriers, or VLGCs, with Hanhwa Ocean for about 4345 million, the company said. Dorian LPG shares were 0.5% higher pre-bell.Dominion Energy Inc (D) shareholders have given consent to the company to proceed with a planned merger with NextEra Energy (NEE), according to regulatory filings. NextEra Energy stock was down 0.4% premarket.

$BKR$BP$D$LPG$NEE$UNG$USO$XLE
Equities

Dominion Energy, NextEra Energy's Shareholders Approve Planned Merger

Dominion Energy Inc (D) shareholders have given consent to the company to proceed with a planned merger with NextEra Energy (NEE), according to regulatory filings Thursday.NextEra shareholders approved the issuance of NextEra common stock to Dominion shareholders under the merger agreement, with 99.47% of votes cast supporting the proposal, the filing said.The filing showed that NextEra shareholders also approved an increase in the company's authorized common shares to 5 billion from 3.2 billion, with 99.02% of votes cast in favor.NextEra Energy's shareholders also voted to approve the steps required to close the deal, but the deal still awaits final regulatory approvals before officially closing, according to the regulatory filing.

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Commodities

Maine Governor Opposes NextEra's Proposed Dominion Acquisition Over Competition Concerns

Maine Governor Janet Mills on Wednesday joined other New England officials in raising concerns about NextEra Energy's (NEE) proposed acquisition of Dominion Energy (D), saying the deal would concentrate too many power generation and transmission assets under one company and could limit competition.Mills said the transaction would give NextEra control of several critical energy-generating assets in New England and make it more difficult to reduce electricity costs."NextEra's proposal to acquire Dominion Energy would concentrate too many energy generation and transmission assets in a company that has worked aggressively to suppress competition in Maine and block state priorities that would reduce energy costs," Mills said."This ill-advised proposal would give one company sole control of several critical energy generating assets in New England, further limit competition, and make it harder to bring energy costs down. This deal may be good for NextEra's shareholders, but it's a bad deal for Maine people," she said.Mills' statement followed a joint statement issued Wednesday by the New England States Committee on Electricity, or NESCOE, urging the Federal Energy Regulatory Commission, the US Department of Justice and other regulators reviewing the proposed merger to apply "the highest level of scrutiny."If approved, the transaction would create the largest electric utility in the US.NESCOE is a regional state committee recognized by FERC and governed by a board appointed by the governors of Maine, Connecticut, Massachusetts, New Hampshire, Rhode Island and Vermont.The proposed deal has drawn scrutiny from officials outside New England as well. Virginia Governor Abigail Spanberger said in August that she would intervene in the regulatory review to seek commitments from the companies on electric-bill affordability, job protections and clean-energy investments.The $66.8 billion deal, announced in May, would create the third-largest US energy company, behind oil majors Exxon and Chevron, with an enterprise value greater than the combined enterprise value of the next two-largest US power companies, Reuters said.

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Research

TD Cowen Upgrades Dominion Energy to Buy From Hold, Adjusts Price Target to $80 From $69

Dominion Energy (D) has an average rating of hold and mean price target of $72, according to analysts polled by FactSet.

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Commodities

NWS Warns of Thunderstorms, Heavy Rainfall in Plains; Hazardous Heat in South, Southeast

The US National Weather Service said the northern/central Plains are likely to experience severe thunderstorms through Tuesday afternoon, with similar conditions expected in the region stretching from the central Plains to the Mid-Mississippi Valley from Tuesday evening through Wednesday morning.The storms could result in large hail, damaging wind gusts, with heavy rainfall also causing potential scattered flash flooding, the agency said.Meanwhile, the South and Southeast US continues to face hazardous heat.The NWS issued an extreme heat warning early Tuesday for Oklahoma's Bartlesville, Ponca City, Enid, Stillwater, Tulsa, Chandler, Muskogee, Oklahoma City, Oklahoma City, Chickasha, Ada, MAcAlester, Hugo, Duncan, Atoka, Ardmore, and Durant.OGE Energy (OGE) unit Oklahoma Gas & Electric and AEP subsidiary Public Service Co. of Oklahoma are the major service providers in Oklahoma.In Texas, a similar warning was raised for Gainesville, Bowie, Decatur, Jacksboro, Graham, Fort Worth, Granbury, Dallas, Cleburne, Stephenville, Waxahachie, Denton, Canton, Emory, Sulphur Springs, Sherman, Paris, and Greenville. These places are primarily served by Sempra Energy (SRE) unit Oncor.Affected areas in Arkansas include Fort Smith, Russellville, Conway, and Little Rock. These places are primarily served by American Electric Power's (AEP) Southwestern Electric Power Company, and Entergy's (ETR) Arkansas unit.Extreme heat warnings were also raised for Louisiana's Hammond and New Orleans, served by Entergy Louisiana and Entergy New Orleans; Gulfport in Mississippi, where Southern Company (SO) unit Mississippi Power is the major service provider; Mobile in Alabama, served by Southern Company's Alabama Power; and Bainbridge, Valdosta, Hinesville, and Savannah in Georgia, which mostly falls under the service area of Southern Company subsidiary Georgia Power.In Florida, an extreme heat warning was issued for Pensacola, De Funiak Springs, Panama City, Apalachicola, Tallahassee, Marianna, Lake City, Perry, Cross City, Ocala, Lake City, and Jacksonville. Nextera Energy's (NEE) Florida Power & Light, Duke Energy (DUK), and Chesapeake Utilities' (CPK) Florida Public Utilities are the major service providers in these places.South Carolina's Hilton Head Island, Beaufort, Charleston, Summerville, Moncks Corner, Kingstree, Georgetown, Conway and Myrtle Beach; and North Carolina's Whiteville, Southport, Wilmington, Burgaw, Kenansville, New Bern, Jacksonville, Morehead City and Swan Quarter were also placed under an extreme heat warning watch. The Carolinas primarily fall under the service areas of Dukes Energy and Dominion Energy (D).The NWS issued an extreme heat warning for Arizona's Kingman, Bullhead City, Lake Havasu City, Parker, Yuma, Gila Bend, Dateland, Ajo, Wickenburg, Phoenix, Casa Grande, Globe, Tucson, Nogales, Sells, Green Valley, Oro Valley, Oracle, San Carlos, Safford, Oracle, Oro Valley, Green Valley, and Grand Canyon Village. Arizona is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.Nevada's Las Vegas and Beatty, which fall under the service area of Berkshire Hathaway Energy unit NV Energy, were also placed under a similar warning.Affected areas in California include Blythe, El Centro Imperial, Twentynine Palms, Baker, Death Valley, and Barstow, primarily served by Edison International (EIX) unit Southern California Edison.Meanwhile, the NWS issued a red flag warning for Oregon's The Dalles, Maupin, Condon, Fossil, Hermiston, Pendleton, and Hood River; and Washington's Walla Walla. These places are primarily service by PacifiCorp's Pacific Power.In Arizona, an extreme heat warning was raised for Parker, Yuma, Gila Bend, Dateland, Ajo, Wickenburg, Phoenix, Casa Grande, Globe, Tucson, Nogales, Sells, Green Valley, Oro Valley, Oracle, San Carlos, and Safford. Arizona is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.A severe thunderstorm warning was issued in Nebraska's Lincoln, Nebraska City and Beatrice. The state mostly falls under the service area of regional transmission organization Southwest Power Pool, with Midcontinent ISO also serving some areas.The NWS issued a flood warning for Illinois' Peru, Canton, Havana, Macomb, Pekin, Danville, Champaign, Ottawa, and areas near Kankakee. Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.Indiana's Seymour, Terre Haute, Vincennes, Indianapolis, Marion, Muncie, Lafayette, Gary, and Fort Wayne were also covered under a flood warning watch. NiSource (NI) unit Northern Indiana Public Service Company, Duke Energy, and the Indiana unit of AES (AES), AEP unit Indiana Michigan Power, and CenterPoint Energy (CNP) Indiana unit are among the major service providers in the state.Flood warnings were also issued for New Lexington and Zanesville in Iowa; Zanesville in Ohio; and Clarksburg in West Virginia.Meanwhile, around 77,775 homes and businesses were without power in Hawaii due to the impact of Tropical Storm Lala, according to data from PowerOutage.us early Tuesday.The NWS had previously warned that Tropical Storm Lala will bring gusty winds, heavy rains, flash flooding, and high surfs even as it moves away from the islands.

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Commodities

NWS Warns of Tropical Storm Lala Impact in Hawaii, Record Heat in Central/Southern Plains

The US National Weather Service on Monday said it expects Tropical Storm Lala to bring continues gusty winds, heavy rains, flash flooding, and high surfs even as it moves away from the islands.The region stretching from the Midwest to the Mid-Atlantic and across the central High Plains is expected to experience persistent severe thunderstorms, heavy rainfall, and flash flooding threats.Meanwhile, areas falling in central/southern Plains and into the Southeast are likely to encounter record heat.The NWS early Monday issued an extreme heat warning for the entirety of Mississippi, except for parts of Hattiesburg. Southern Company (SO) subsidiary Mississippi Power and Entergy's (ETR) Mississippi unit are the major service providers in the state.A similar warning was raised for Alabama's Hamilton, Jasper, Gadsden, Birmingham, Anniston, Sylacauga, Tuscaloosa, Clanton, Alexander City, Demopolis, Troy, Montgomery, and Columbus. Alabama is primarily served by Southern Company's Alabama Power.Affected areas in Arkansas include Russellville, Little Rock, Conway, Brinkley, Searcy, Jonesboro and Pine Bluff, which primarily fall under the service area of Entergy's Arkansas subsidiary.In Louisiana, an extreme heat warning was issued for Baton Rouge, Hammond, Houma and New Orleans, served by Entergy Louisiana and Entergy New Orleans units.Also covered under an extreme heat warning watch were Florida's Panama City, Apalachicola, Tallahassee and parts of De Funiak Springs. Nextera Energy's (NEE) Florida Power & Light and Duke Energy (DUK) are the major service providers in these places.Extreme heat warnings were also issued for Georgia's Hinesville and Savannah, where Southern Company's Georgia Power is the primary service provider; and Memphis and areas near Jackson and Dyersville in Tennessee, where Tennessee Valley Authority is the primary service provider.South Carolina's Hilton Head Island, Beaufort, Charleston, Summerville, Moncks Corner, Florence, Kingstree, Georgetown, Conway and Myrtle Beach; and North Carolina's Whiteville, Southport, Wilmington, Burgaw, Kenansville, New Bern, Jacksonville, and Morehead City were also placed under an extreme heat warning watch. The Carolinas primarily fall under the service areas of Dukes Energy and Dominion Energy (D).In Arizona, an extreme heat warning was raised for Parker, Yuma, Gila Bend, Dateland, Ajo, Wickenburg, Phoenix, Casa Grande, Globe, Tucson, Nogales, Sells, Green Valley, Oro Valley, Oracle, San Carlos, and Safford. Arizona is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.A similar warning was also raised for California's Blythe and El Centro Imperial, served by Edison International's (EIX) Southern California Edison.The NWS issued a flood warning for Illinois' Peru, Princeton, Canton, Havana, Macomb, Galesburg, Champaign, Danville, and Ottawa. Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.Indiana's Seymour, Terre Haute, Vincennes, Indianapolis, Muncie, and Fort Wayne were also covered under a flood warning watch. NiSource (NI) unit Northern Indiana Public Service Company, Duke Energy, and the Indiana unit of AES (AES), AEP unit Indiana Michigan Power, and CenterPoint Energy (CNP) are among the major service providers in the state.Flood warnings were also issued for Burlington in Iowa; Zanesville in Ohio; Elkins, Charleston, and areas near Fairmont and Clarksburg in West Virginia.Meanwhile, a flash flood warning was raised for areas near Philadelphia in Pennsylvania.In a statement issued on Saturday, ComEd said power had been restored to almost 99% of the its customers who were impacted by severe storms in northern Illinois on Aug. 11-12.Destructive winds, tornadoes, and severe storms damaged power infrastructure and disrupted service for nearly 410,000 of the company's customers, the statement added.

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Commodities

NWS Warns of Heavy Rainfall, Flooding in Midwest, Ohio Valley; Record Heat in Plains, Southeast US

The US National Weather Service on Thursday forecast persistent heavy to excessive rainfall and flash flooding risks in the Midwest and Ohio Valley for a couple of days due to the presence of an active pattern.Meanwhile, continued dangerous heat is expected in the central/southern Plains and Southeast US into next week with the potential for record-tying/breaking temperatures. Several places could likely record their hottest temperatures for the year thus far, the agency said.The NWS early Friday issued a red flag warning for Washington's Ellensburg and Yakima, primarily served by Puget Sound Energy and PacifiCorp's Pacific Power.A similar warning was issued for Oregon's Burns, Ontario, John Day, Jordan Valley, Monument, Fossil, La Grande, Ontario, Baker City, Enterprise, primarily served by Pacific Power and Idacorp's (IDA) Idaho Power.In Idaho, affected areas include McCall, Boise, Mountain Home, Jerome, Twin Falls, Caldwell, and Shoshone, which mostly fall under the service area of Idaho Power.The NWS issued an extreme heat warning for most of Missouri, except for Macon, Chillicothe, Kirksville, Trenton, St. Joseph, Bethany, Maryville, Grant City, and Rock Port. Evergy (EVRG), Ameren's (AEE) Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in the state.In Kansas, where Evergy is among the major service providers, affected areas include Russell, Lincoln, Ellsworth, Salina, Great Bend, McPherson, Hutchinson, Newton, Kingman, Anthony, Leavenworth, Atchison, Olathe, Ottawa, Topeka, Wellington, Arkansas City, Wichita, Manhattan, El Dorado, Emporia, Eureka, Howard, Sedan, Fredonia, Iola, Concordia, Lawrence, and Paola.Also placed under an extreme heat warning watch were Oklahoma's Bartlesville, Grove, Tulsa, Muskogee, and Ponca City. OGE Energy (OGE) unit Oklahoma Gas & Electric and American Electric Power (AEP) subsidiary Public Service Co. of Oklahoma are the major service providers in Oklahoma.In Arkansas, extreme heat warnings were issued for Mountain Home, Little Rock, Conway, Brinkley, Searcy, Batesville, and Jonesboro, which primarily fall under the service area of Entergy's (ETR) Arkansas unit.The NWS also issued heat warnings for Mississippi's Clarksdale, served by Entergy's Mississippi unit; Florida's Panama City, Apalachicola, and Tallahassee, served by Duke Energy (DUK) and NextEra Energy (NEE) unit Florida Power & Light Company; Georgia's Hinesville, Savannah, where Southern Company's (SO) Georgia Power is the primary service provider; and South Carolina's Hilton Head Island, Beaufort, Charleston, Summerville, and Moncks Corner.South Carolina primarily falls under the service areas of Dukes Energy and Dominion Energy (D).In Illinois, a similar warning was raised for Carbondale, Carmi, Mount Vernon, and Chester. A flash flood warning was issued for Galesburg, Peoria, Bloomington, while Champaign and Danville were placed under a severe thunderstorm warning watch. Ameren's Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.A flash flood warning was also issued for Indiana's Muncie, Kokomo, and Crawfordsville, while a flood warning was raised for Terre Haute, Marion, Greensburg, Seymour, parts of Muncie, and the areas bordering Illinois. Evansville and Petersburg were placed under an extreme heat warning watch. NiSource (NI) unit Northern Indiana Public Service Company, Duke Energy, and the Indiana unit of AES (AES) are among the major service providers in Indiana.Also covered under an extreme heat warning watch were Kentucky's Mayfield, Paducah, Hopkinsville, Madisonville, and Owensboro. Meanwhile, a flood warning was raised for areas near Jackson and Pikeville. Kentucky is primarily served by PPL (PPL) subsidiary Louisville Gas and Electric & Kentucky Utilities, AEP unit Kentucky Power, and Duke Energy among others.

$AEE$AEP$AES$AQN$D$DUK$ETR$EVRG$EXC$IDA$NEE$NI$OGE$PPL$SO
Commodities

Market Chatter: Fuel Costs Jump 88% for Dominion Energy Utility

Dominion Energy Inc.'s (D) Virginia utility expects fuel costs to rise sharply as rapid data center growth increases its reliance on wholesale electricity purchases, according to regulatory filings cited by Reuters.Virginia Electric and Power, a subsidiary of Dominion, forecasts fuel expenses of $4.35 billion through the end of June 2027, averaging 3.95 cents per kilowatt-hour, 88% above the $2.31 billion recorded in 2021, when system fuel expenses averaged 2.59 cents per kilowatt-hour.The utility expects to purchase 23% of its energy supply from the wholesale market operated by PJM Interconnection, up from 14% in 2021.Dominion estimates wholesale electricity purchases will cost about 6.28 cents per kilowatt-hour.The company attributed this to the significant load growth from data centers, which it said was exposing it to wholesale power prices that can surge to several thousand dollars per megawatt-hour during heatwaves and prolonged cold spells.This is set to push up average monthly consumer bills by 13%, to $195 from $173, largely due to the higher prevailing fuel prices.According to Scott Gaskill, the company's vice president of regulatory affairs, its best hedge against PJM market prices is its owned generation capabilities. "Every megawatt-hour generated by company-owned resources reduces the need to purchase energy from the PJM market," Gaskill said in a statement to Virginia regulators late last month.Dominion expects its proposed $66.8 billion merger with NextEra Energy to accelerate the development of power plants and renewable energy, reducing its dependence on wholesale purchases.Dominion Energy did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Sectors

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.8% lower.The United States Oil Fund (USO) was down 1% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 0.7% lower at $76.76 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.8% to $81.82 per barrel, and natural gas futures were up 0.9% at $2.66 per 1 million British Thermal Units.Plains All American Pipeline (PAA) stock was down 0.1% even after the company posted higher Q2 adjusted net income and revenue.NextEra Energy (NEE) and Dominion Energy's (D) proposed $67 billion merger will face intervention from Virginia Gov. Abigail Spanberger, marking the first time a governor has taken such action before the state's regulatory commission, multiple outlets reported. NextEra Energy stock was 0.2% lower and Dominion Energy shares were up 0.4% premarket.

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Commodities

Virginia Governor Spanberger to Intervene in $67 Billion NextEra-Dominion Energy Merger

Virginia Governor Abigail Spanberger intends to intervene in Florida-based NextEra Energy's (NEE) proposed $67 billion acquisition of Virginia-based utility company Dominion Energy (D) amid the regulatory review by the State Corporation Commission.In an op-ed piece published by the Washington Post on Thursday, Spanberger said she would take the legal step of intervening in the proposed merger, which would involve formally requesting to become a party to the case in official capacity."As a Virginian, I am deeply skeptical about whether selling our primary, state-regulated utility to an out-of-state company is good for the commonwealth. I have serious questions about what this deal would mean for us. And as governor, I intend to get answers and be a voice for Virginians in the process," Spanberger wrote.Spanberger said her involvement in the SCC review will primarily prioritize affordable energy costs for families and small businesses, protecting utility workers, and speeding up the development of affordable, reliable, local, and clean energy."By formally intervening in the SCC case, my administration can build on the progress we have already made. To be clear: Taking this action does not mean I intend to make the SCC's decision for it. Instead, I am seeking to make sure Virginians have a voice in the process," the Governor wrote.In May this year, the two companies said they have agreed to combine in an all-stock deal that would create the world's largest regulated electric utility by market capitalization and one of North America's largest energy infrastructure companies.The combined company would serve about 10 million customer accounts, with over 80% of operations expected to be regulated, they said in a statement issued then.The merger remains subject to approval by federal and state regulators, as well as shareholders of both companies. The companies expect the transaction to close in H2 2027.

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Commodities

Commonwealth Fusion Systems Secures $1 Billion in Equity Funding Round

Commonwealth Fusion Systems said Thursday it has raised $1 billion in fresh equity financing to accelerate commercialization, specifically supporting the final assembly of its Sparc fusion demonstration machine in Devens, Massachusetts.The new funding brings its total capital raised to $4 billion.The company already submitted an interconnection application to PJM Interconnection. CFS remains on track to deliver commercial fusion power to the grid in the early 2030, it added.This timeline is further underpinned by strategic partnerships and power purchase agreements with major buyers, including Dominion Energy (D), Google (GOOG), and Eni (E).

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Commodities

NWS Warns of Extreme Heat Across Southern US This Week

The US National Weather Service on Wednesday said it expected parts of the southern US to continue experiencing dangerous and extreme heat this week.Parts of the Mid-Atlantic and Northeast are likely to face significant flash flooding through the night due to heavy rains, while additional flash flooding concerns remain for New England on Wednesday, the agency said.Flash flood risks were also forecast for the Four Corners region, especially its burn scar areas.The NWS issued an extreme heat warning early Wednesday for Arizona's Yuma, Parker, Lake Havasu City, Bullhead City, Kingman, Ajo, Gila Bend, Phoenix, Wickenburg, Dateland, Prescott, Payson, Globe, Casa Grande, Tucson, Globe, San Carlos, Oracle, Oro Valley, Green Valley, Nogales, Sierra Vista, Bisbee, Sells, Willcox, Benson, Safford, Bisbee, Page, Chinle, and Grand Canyon Village.Arizona is The state is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.In Nevada, a similar warning was raised for Tonopah, Beatty, Las Vegas, and Caliente, primarily served by Berkshire Hathaway Energy unit NV Energy.Affected areas in California include Blythe, El Centro Imperial, Palm Springs, Twentynine Palms, Campo, El Cajon, Mount Laguna, Julian, Borrego Springs, Indio, Escondido, Temecula, San Clemente, San Bernardino, Hemet, Beaumont, Victorville, Barstow, Baker, Death Valley, Tehachapi, Bishop, Anaheim, Ontario, Chino, Los Angeles, Anaheim, Santa Ana, Burbank, Palmdale, Santa Clarita, Long Beach, Oxnard, Malibu, San Luis Obispo, Ridgecrest, Santa Maria, Paso Robles, Edwards AFB, and Riverside.PG&E (PCG) subsidiary Pacific Gas and Electric, Edison International's (EIX) Southern California Edison, and Sempra Energy (SRE) unit San Diego Gas & Electric are the major electricity service providers in these places.Also placed under a similar watch were Oklahoma's Bartlesville, Tulsa, Muskogee, Hugo, McAlester, and Oklahoma City. OGE Energy (OGE) subsidiary Oklahoma Gas & Electric and American Electric Power's (AEP) Public Service Co. of Oklahoma are the major service providers in Oklahoma.The NWS issued an extreme heat warning for Mississippi's Cleveland, Greenville, Grenada, Greenwood, Vicksburg, Jackson, Brookhaven, Clarksdale, and parts of Gulfport. Southern Co (SO) unit Mississippi Power and Entergy's (ETR) Mississippi subsidiary are among the major power suppliers in the state.In Florida, a similar warning was issued for Marianna, Apalachicola, Panama City, Tallahassee, Perry, Lake City, Cross City, Jacksonville, Gainesville, and parts of Pensacola and De Funiak Springs. NextEra Energy (NEE) subsidiary Florida Power & Light and Duke Energy (DUK) are among the major suppliers in these places.Also placed under an extreme heat warning watch were Louisiana's Hammond and New Orleans, served by Entergy's local subsidiaries; Hilton Head Island and Beaufort in South Carolina, where Dominion Energy (D) is the primary service provider, Mobile in Alabama, served by Southern Company's Alabama Power; and Bainbridge, Valdosta, Waycross, Savannah, and Hinesville in Georgia, which primarily falls under the service area of Southern Company's Georgia Power.The NWS issued flash flood warnings for areas near Dalton and Blairsville in Georgia, parts of New Jersey, New York, and small pockets in Pennsylvania. A flood warning was raised for Cotulla and George West in Texas, and small pockets of New York.

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Commodities

NextEra Energy Posts Higher Segment Revenues in Q2

Electric power and energy infrastructure company NextEra Energy (NEE) on Friday reported an increase in Q2 revenue across all segments, mainly the energy resources unit and Florida Power & Light.The energy resources segment generated $2.53 billion in revenue during the quarter, up from $1.91 billion a year earlier.Its backlog expanded to 35.1 gigawatts after adding 3.6 GW of renewables and storage projects during the quarter, according to the report.New battery projects account for about 2 GW, while solar projects account for 900 megawatts, and wind projects 700 megawatts.Meanwhile, FPL generated $4.90 billion in revenue, an increase from $4.71 billion in the year-ago period, results showed.The utility unit added over 90,000 customers over the year, the company said. Its large load interests expanded to 21 GW, driven by strong demand from hyper-scalers and other large customers.Of the total volume, 12 GW is already in advanced discussions, the company said, with potential delivery as early as 2028.NextEra Energy said it has advanced the proposed merger with Dominion Energy (D) and is now awaiting regulatory approvals. The transaction is expected to close in H2 of 2027.Price: $88.94, Change: $-0.85, Percent Change: -0.95%

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Commodities

NextEra, Dominion File for Approval to Combine Operations

NextEra Energy (NEE) and Dominion Energy (D) have filed for approval to merge their operations to create a larger energy provider capable of meeting surging electricity demand across the US, the companies said on Wednesday.The combined entity, which they hope to form by 2027, aims to leverage shared best practices in grid modernization, storm restoration, and data analytics to improve overall reliability, they said in a joint press statement.The proposed combination will unite Dominion's regional expertise in Virginia and the Carolinas with NextEra's massive financial scale, supply chain network, and experience in building and operating renewable energy infrastructure.The new organization will serve roughly 10 million customers, utilizing a diverse generation mix that includes nuclear, natural gas, solar, and battery storage, it said.The companies also said that merger-related expenses will not be charged to customers.Operationally, Dominion's utilities will remain locally led and separately regulated, ensuring that state commissions maintain oversight of rates and service quality.The transaction remains subject to approval from various state and federal regulators, including the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission.

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Commodities

NWS Warns of Severe Thunderstorms in Central & Southern High Plains, Kansas, Missouri

The US National Weather Service said central and southern High Plains and the region stretching from eastern Kansas into Missouri could experience severe thunderstorms, with risks of large hail and damaging wind gusts.Meanwhile, the Mid-Mississippi, Ohio and Tennessee Valleys, and the Appalachians are likely to encounter heavy rainfall and potential scattered flash flooding due to a slow moving frontal boundary and a round of storms on Friday.The NWS issued a red flag warning for Oregon's Chemult, Crater Lake, Chiloquin, Bly, Klamath Falls, Lakeview, and Silver Lake, primarily served by PacifiCorp's Pacific Power.A red flag warning was also raised for Gerlach, Reno, Carson City in Nevada, where Berkshire Hathaway Energy's NV Energy is a major service provider.A similar warning was also issued for California's Cedarville, Bieber, Susanville, Canby, Alturas, and Likely. Meanwhile, an extreme heat warning was raised for Palm Springs, Blythe, and El Centro Imperial. These places are primarily served by Pacific Power, Edison International's (EIX) Southern California Edison, and PG&E (PCG) subsidiary Pacific Gas and Electric Company.In Utah, a red flag warning was raised for Cedar City, St. George, Zion National Park, and parts of Milford. Milford and Zion National Park were also covered under an extreme heat warning along with Bluff, Blanding, Escalante, Moab, Capitol Reef National Park, Price, Manti, Delta, Nephi, Provo, Vernal, Green River, Duchesne, Wendover, Logan, Brigham City, Provo, Tooele, Park City, Ogden, and Salt Lake City. The state primarily falls under the service area of PacifiCorp's Rocky Mountain Power.In Arizona, an extreme heat warning was issued for Parker, Yuma, Phoenix, Wickenburg, Grand Canyon Village and Page. The state is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.Affected areas in Idaho included Pocatello, Malad City, Preston, Twin Falls, Burley, and Blackfoot, served by Idacorp's (IDA) Idaho Power and Rocky Mountain Power.Colorado's Craig, Rangely, Meeker, Rifle, and Grand Junction, served by Xcel Energy (XEL) and Black Hills (BKH) unit Black Hills Power; and Wyoming's Sheridan, served by Rocky Mountain Power, were also covered under an extreme heat warning watch.In Montana, an extreme heat warning was raised for Glasgow, Glendive, Miles City, Billings, Red Lodge, Livingstone, Broadus, Bozeman, Plentywood, Malta, Harlowtown, Terry, Jordan, Winnett, Circle, and Sidney. Northwestern Energy (NWE) and MDU Resources (MDU) unit Montana-Dakota Utilities are among the primary service providers in these places.Also covered under an extreme heat warning watch were North Dakota's Crosby, Williston, Bowman, Elgin, Beulah, Ashley, Bismarck, Jamestown, Harvey, Bottineau, Rugby, and Minot. Xcel Energy, Montana-Dakota Utilities and Otter Tail's (OTTR) Otter Tail Power are among the major electric service providers in the state.The NWS also issued extreme heat warnings for Charleston, Summerville, Moncks Corner, Georgetown, Conway, and Myrtle Bridge; and North Carolina's South Port, Burgaw, and Wilmington. Duke Energy (DUK) and Dominion Energy (D) are the primary service providers in the Carolinas.In Illinois, the NWS issued a flood warning for Peoria, Canton, Havana, and Pekin, while a flash flood warning was raised for Carbondale and Chester. Ameren's (AEE) Illinois unit and Exelon subsidiary ComEd are among the major service providers in Illinois.The NWS issued a flash flood warning for Missouri's Cape Girardeau, Centerville, and Rolla; a flood warning for Farmington; and a severe thunderstorm warning for Sikeston. Evergy (EVRG), Ameren's Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in Missouri.A flood warning was also issued for Iowa's Decorah, Clinton, and Charles City. Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy are primary service providers in the state.Meanwhile, Paducah in Kentucky was covered under a flash flood warning watch, while a flood warning was raised for Petersburg in Indiana.Electric output in the US touched an all-time peak, exceeding the 100,000 gigawatt-hours levels, for the first time during the week ended July 4, the Edison Electric Institute said Thursday.US electricity generation hit a record 100,996 GWh for the week, surpassing the previous high of of 99,445 GWh set in July 2022, while total output over the past 12 months rose 2.3% to 4.35 million GWh.

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Commodities

NWS Warns of Thunderstorms in Northern, Central Plains, Lower Missouri, Lower Ohio Valleys, Mid-Atlantic

The US National Weather Service said parts of northern and central Plains, the region stretching from Lower Missouri to Lower Ohio Valleys, and the Mid-Atlantic are expected to experience severe thunderstorms, with risks of strong gusts and/or large hail on Thursday.Mid-Mississippi and Ohio Valleys, and Mid-Atlantic are likely to face flash and urban flooding due to excessive rainfall.The NWS issued a red flag warning early Friday for Utah's Milford, Cedar City, Escalante, Bryce Canyon National Park, Zion National Park, parts of Bluff and Capitol Reef National Park. PacifiCorp unit Rocky Mountain Power is the main electricity provider in the state.An extreme heat warning was issued for Arizona's Parker, Yuma, Phoenix, Gila Bend, Dateland, Ajo, Globe, Casa Grande, Tucson, Page, Grand Canyon Village, Wickenburg, and Safford. The state is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.A similar warning was raised for California's Blythe, El Centro Imperial, Palm Springs, Beaumont, Palm Springs, Indio, Borrego Springs, Julian, Mount Laguna, and areas near Campo. These places are primarily served by Sempra (SRE) unit San Diego Gas & Electric and Edison International's (EIX) Southern California Edison.Also placed under an extreme heat warning were Savannah and areas near Hinesville in Georgia, which primarily falls under the service area of Southern Company (SO) unit Georgia Power.The NWS also issued extreme heat warnings for South Carolina's Hilton Head Island, Beaufort, Charleston, Summerville, Moncks Corner, Georgetown, Conway, and Myrtle Bridge; and North Carolina's South Port, Burgaw, and Wilmington. Duke Energy (DUK) and Dominion Energy (D) are the primary service providers in the Carolinas.In Illinois, the NWS issued a flood warning for Peoria, Canton, Havana, and Pekin. Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.A similar warning was raised for Iowa's Cedar Rapids, Clinton, and Charles City. Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy (LNT) are primary service providers in the state.The NWS also issued flood warnings for small pockets of Minnesota and Indiana.

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