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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
Commodities

Market Chatter: GE Vernova, Venezuela Deal to Stabilize Power Grid in 6-12 Months

The recently signed deal between Venezuela and US energy equipment company GE Vernova (GEV) aims to stabilize the nation's deteriorating electrical grid within six to 12 months, Reuters reported Friday, citing US Energy Secretary Chris Wright.The agreement focuses on restoring existing infrastructure to strengthen the grid and prolong service hours, Wright reportedly said. This includes the rehabilitation of the Guri Dam, which was built in the 1960s and has been 50% underutilized due to old equipment.GE Vernova, on Sep. 2, signed a deal to "modernize and expand Venezuela's electric grid," beginning with 1 gigawatt of power targeted to be brought online within one year, according to a fact sheet by the US Department of Energy. A further 5 GW of electricity will be added over the next four years.The company did not immediately respond to' request for comment.(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.)

$GEV
Commodities

Chevron, Eni Ink Venezuela Deals to Expand Oil Production, Investment

Executives from Chevron (CVE) and Eni (E) joined US Energy Secretary Chris Wright and acting Venezuelan President Delcy Rodriguez to unveil energy deals aimed at boosting oil output, the companies said in separate statements on Wednesday.Chevron agreed to updated terms for its Venezuelan joint ventures, supporting over $7 billion of investment over five years and higher production. Eni and Venezuela's state oil company, PDVSA, signed a separate 25-year contract for the Junin 5 field, with Eni taking exclusive operatorship of the heavy-oil project.Chevron's new agreements offer improved fiscal, commercial and legal terms to support long-term investment, project development and higher Venezuelan output, it said.The company also received additional acreage in the Orinoco Belt, expanding its existing operations and providing further opportunities to grow its Venezuelan oil business.Chevron's investment plans could more than double production from 2026 levels to about 600,000 barrels per day, while total costs remain below $20 per barrel."With improved terms and additional acreage, we are strengthening a portfolio that we believe can deliver attractive low-cost oil growth, support energy supply and create differentiated long-term value," said Mike Wirth, Chevron Chairman and Chief Executive Officer.Under the deals, the Petroindependencia joint venture, in which Chevron's subsidiary holds a 49% interest, will develop the Carabobo-1 and Carabobo-2-South-A areas in the Orinoco Belt.The new greenfield areas sit within the Orinoco Belt and will expand Petroindependencia's operating footprint as Chevron increases extra-heavy oil production.Chevron raised its interest in the Petroindependencia JV to 49% in April and also secured rights to the adjacent Ayacucho 8 area, next to its Petropiar joint venture.Across its three Venezuelan joint ventures, Chevron has increased production by 15% year-to-date, reinforcing its position in the country's oil sector."Continued engagement between government and industry is essential to advancing projects that support energy security, economic growth and continued investment," Wirth said.Eni's new Contrato de Participacion Productiva de Hidrocarburos, or the Hydrocarbons Production Participation Contract, completes a process that began with the April 28, 2026 Head of Terms and replaces the existing Petrojunin joint venture model.The previous Petrojunin structure gave Eni a 40% stake and PDVSA 60%, while the new 25-year arrangement gives Eni exclusive operatorship and full technical, financial and commercial responsibility.Junin 5 holds 35 billion barrels of certified oil in place and currently produces about 12,000 b/d, with Eni now leading development of the heavy oil field."The operatorship of an important area such as Junin 5 is recognition of our ability to deliver complex projects quickly and efficiently, and it reinforces our long-standing presence in the country...," said Eni Chief Executive Officer Claudio Descalzi.Eni operates the Perla offshore gas field through Cardon IV, a 50-50 venture with Repsol, under a new agreement that supports production, domestic supply, and future exports.Eni owns 26% of PetroSucre alongside PDVSA's 74% stake and also holds an interest in Supermetanol.Eni holds six mining licenses in Venezuela and produced 64,000 barrels of oil equivalent per day in 2025, mainly from Perla, which supplied about 35% of the country's gas consumption."Venezuela can now embark on a path of energy development and economic growth that can bring significant benefits to the local population and to global energy availability," Descalzi said.GE Vernova (GEV) has partnered with Venezuela's PDVSA and state power company Corpoelec to restore and strengthen the country's electricity and energy infrastructure, according to multiple media reports.GE Vernova did not immediately reply to' request for comments.

$CVX$E$GEV
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks rose late Wednesday afternoon, with the NYSE Energy Sector Index climbing up 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.9%.The Philadelphia Oil Service Sector Index jumped 2.7%, and the Dow Jones US Utilities Index advanced 0.1%.West Texas Intermediate crude oil rose 0.7% to $90.81 a barrel, and global benchmark Brent gained 0.9% to $95.45 a barrel. Henry Hub natural gas futures added 2.8% to $2.99 per 1 million BTU.In geopolitical news, additional US strikes on Iran Tuesday led to Tehran attacking Jordan, Bahrain and Kuwait. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social Tuesday.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.6 million barrels in the week ended Aug. 28 following a decrease of 3.6 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 4.5 million barrels after a 100,000-barrel gain in the previous week, compared to the 60,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, Chevron (CVX) outlined a plan to invest more than $7 billion in Venezuela and double its oil production capacity in the South American country over the next five years. Shares rose 0.6%.GE Vernova (GEV) has agreed to restore large sections of Venezuela's electrical network under a US government initiative to boost the nation's energy generation, Bloomberg reported. GE Vernova shares gained 3%.Venture Global (VG) told customers of its Plaquemines Phase 2 LNG export plant in Louisiana that deliveries remain on schedule at previously agreed prices, Reuters reported. Venture Global shares fell 2.2%.Calumet (CLMT) said Wednesday that the US Environmental Protection Agency granted full small refinery exemptions for two of its petitions covering the 2025 compliance year. The company said the exemptions will reduce its balance-sheet liability by 71 million renewable identification numbers, valued at about $170 million as of last June. Calumet shares rose 3%.

$CLMT$CVX$GEV$VG
Commodities

Market Chatter: GE Vernova Signs Deal to Help Rebuild Venezuela's Ailing Power Grid

GE Vernova (GEV) has agreed to help repair and rebuild large parts of Venezuela's electricity grid as part of a series of energy deals being promoted by the Trump administration to revive the country's oil, gas and power sectors, Bloomberg reported on Wednesday, citing sources.The agreement, expected to be formally announced on Wednesday, includes plans to restore several gigawatts of generating capacity.Venezuela's power system has deteriorated sharply over the past two decades, with frequent blackouts and aging infrastructure limiting electricity supply. Energy experts estimate that at least $25 billion in investment is required to overhaul Venezuela's electricity sector.Ben Dietderich, a spokesperson for the US Department of Energy, said Energy Secretary Chris Wright is currently in Caracas overseeing the signing of several multibillion-dollar oil, gas and electricity agreements aimed at expanding Venezuela's energy production and modernizing its power infrastructure.The deals are expected to more than double Venezuela's oil production within five years while supporting upgrades to its electricity grid, Dietderich said. GE Vernova did not immediately respond to a request for comment from.(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.)Price: $914.95, Change: $+16.42, Percent Change: +1.83%

$GEV
Sectors

Sector Update: Energy Stocks Higher in Afternoon Trading

Energy stocks were slightly higher Wednesday afternoon, with the NYSE Energy Sector Index increasing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.4%.The Philadelphia Oil Service Sector Index was climbing 1.8%, and the Dow Jones US Utilities Index was rising 0.1%.In geopolitical news, Iranians and their Arab neighbors feared a return of war on Wednesday after the biggest exchange of fire between Tehran and Washington since July, with US forces striking Iran's southern coast and Iran firing at American bases across the region, Reuters reported. The Iran Revolutionary Guards Corps said that two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported.Front-month West Texas Intermediate crude oil rose 0.8% to $90.93 a barrel, and the global benchmark Brent crude contract advanced 1.2% to $95.78 a barrel. Henry Hub natural gas futures added 2.1% to $2.96 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.6 million barrels in the week ended Aug. 28 following a decrease of 3.6 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 4.5 million barrels after a 100,000-barrel gain in the previous week, compared to the 60,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, Chevron (CVX) outlined a plan to invest more than $7 billion in Venezuela and double its oil production capacity in the South American country over the next five years. The energy giant has entered into deals with Venezuela, setting up updated terms for its joint ventures in the country, including "enhanced" fiscal, commercial and legal terms, the company said Wednesday. Chevron shares rose 0.5%.Eni (E) wants to boost production from its operations in Venezuela to over 1 million barrels per day, including volume from state-owned Petroleos de Venezuela, Bloomberg reported. Eni shares were easing 0.1%.GE Vernova (GEV) has agreed to restore large sections of Venezuela's electrical network under a US government initiative to boost the nation's energy generation, Bloomberg reported. GE Vernova shares added 1.9%.Vertiv (VRT) has agreed to acquire microgrid firm Utility Innovation in a deal worth up to $2.6 billion, as part of the company's efforts to help data center operators accelerate power deployment amid rising grid constraints. Vertiv shares increased 0.3%.

$CVX$E$GEV$VRT
Wire

Market Chatter: GE Vernova Commits to Rebuilding Portions of Venezuela's Power Grid

GE Vernova (GEV) has agreed to restore large sections of Venezuela's electrical network under a US government initiative to boost the nation's energy generation, Bloomberg News reported Wednesday, citing people familiar with the matter.The pending contract includes a plan to rebuild several gigawatts of capacity, the news agency reported.US Energy Secretary Chris Wright, speaking on Bloomberg Television on Wednesday, confirmed that GE Vernova has agreed to a Venezuela deal, but didn't provide details.GE Vernova did not immediately respond to' request for a comment.(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.)Price: $912.93, Change: $+14.40, Percent Change: +1.60%

$GEV
Wire

Street Color: GE Vernova Commits to Repair Venezuela's Power Grid, Bloomberg Reports

Street Color: GE Vernova Commits to Repair Venezuela's Power Grid, Bloomberg Reports

$GEV
Commodities

Venezuela Pacts Expected to Double Crude Production, US Energy Secretary Reportedly Says

US Energy Secretary Chris Wright said on Tuesday during a visit to Caracas that upcoming agreements signed by international oil companies will more than double Venezuela's crude production in the coming years, media outlets reported.Wright noted that incoming investments will exert downward pressure on long-term oil prices, though he noted that domestic retail fuel costs remain constrained by broader US refining capacity bottlenecks.The diplomatic push follows President Donald Trump's unveiling of a separate, high-profile agreement granting the US long-term access to a fifth of Venezuela's proven oil reserves, according to the reports.Under that arrangement, the private US-backed firm North American Blue Energy Partners controlled by Venezuelan businessman Alejandro Betancourt is slated to receive a 100-year lease across 17 oilfields holding approximately 65 billion barrels of reserves.Building on this framework, energy majors are moving to formalize their own operations. US producer Chevron (CVX), Italy's Eni (E), India's ONGC, Colombia's GeoPark, and US-based GE Vernova (GEV) are all on track to sign comprehensive project agreements this week.

$CVX$E$GEV
Commodities

Market Chatter: Global Energy Giants Near Deals in Venezuela

Major international energy companies including US based Chevron (CVX), India's ONGC, Italy's Eni (E), GE Vernova (GEV), and Colombia's GeoPark are close to signing final agreements for energy projects in Venezuela, Reuters reported on Monday.Chevron's agreements are expected to be substantial, with the company looking to add a block in the Orinoco Belt to expand its joint ventures with state-run PDVSA, while targeting the Monagas North area for essential diluents, the report said.Meanwhile, GeoPark has advanced discussions regarding the Bare heavy oilfield, which could unlock up to 1 billion barrels of reserves. Eni is likewise coordinating local efforts to support sector revitalization alongside its existing assets, it stated.None of the parties involved responded immediately torequests for comments.(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.)

$CVX$E$GEV
Commodities

Market Chatter: Global Energy Majors Near Venezuela Energy Agreements

Global oil firms are nearing final energy pacts with Venezuela, most involving a shift to oil contracts under a law giving foreign firms more flexibility to expand and operate oilfields and export barrels and proceeds, while others cover new energy and electricity projects, Reuters reported Monday, citing five sources.Firms involved include Chevron (CVX), GE Vernova (GEV), India's Oil and Natural Gas, Italy-based Eni (E) and Colombia's GeoPark (GPRK). Executives were still closing negotiations, and the list of companies set to sign had not yet been finalized, two of the sources reportedly said. The agreements can be signed as early as this week.Chevron's agreements could be significant, with the company seeking to expand in the Orinoco Belt and to acquire acreage in Monagas North, potentially securing diluent supplies for its extra-heavy oil production, the report said. Eni reportedly said it is working with its Venezuelan partners and relevant authorities to help revive the country's energy sector.Chevron, GE Vernova, ONGC, Eni and Geopark did not immediately reply to' request for comment.(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.)

$CVX$E$GEV$GPRK
Asia Markets

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday Ahead of Fed's Jackson Hole Symposium

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Thursday's premarket activity, ahead of the US Federal Reserve's Jackson Hole Economic Policy Symposium.US stock futures were mixed, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures slipping 0.01%, and Nasdaq futures gaining 1% before the start of regular trading.US initial jobless claims fell to a level of 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 level in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg as of 7:40 am ET.The US advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau.Weekly natural gas stocks will be released at 10:30 am ET, followed by the Kansas City Federal Reserve manufacturing reading for August at 11 am ET.In premarket activity, bitcoin was up by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.4% higher, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 0.4%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.6%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was inactive.Dollar General (DG) shares were up more than 10% pre-bell after the company reported higher fiscal Q2 earnings and revenue.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 2%, the iShares US Technology ETF (IYW) was 0.8% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 2.3%, while the iShares Semiconductor ETF (SOXX) rose by 2.8%.Nvidia (NVDA) stock was 7% higher after the company posted overnight higher fiscal Q2 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, the Vanguard Health Care Index Fund (VHT) was up 0.6%, while the iShares US Healthcare ETF (IYH) slipped 0.01%. The iShares Biotechnology ETF (IBB) was 0.3% lower.Moderna (MRNA) stock was down more than 4% premarket after the company said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.8% higher.Hyperliquid Strategies (PURR) shares were up 4% in early hours activity after the company reported fiscal 2026 net income Thursday of $305.5 million.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) gained 0.1% and the iShares US Industrials ETF (IYJ) was inactive.GE Vernova (GEV) stock was up more than 2% before the opening bell after the company said it will deliver a new 400-kV gas-insulated switchgear substation in Chesterfield, England, for National Grid projects.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $82.37 per barrel on the New York Mercantile Exchange. Natural gas was up 1.9% at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.6%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for November were down by 0.1% at $4,647.60 an ounce on the Comex. Silver futures gained 0.3% to reach $69.02 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 0.2% lower.

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

GE Vernova, LS Electric Form JV to Support South Korea Grid

LS Electric has signed an agreement establishing a joint venture with GE Vernova (GEV) to compete in VSC-HVDC or the Voltage-Sourced Converter-High-Voltage Direct Current business, key to advancing a next-generation power grid in Korea.The two companies held a signing ceremony at the CIGRE 2026 power grid technology event in Paris on Tuesday, according to a press release by LS Electric.The joint venture, named "Grid X Technology," will pursue opportunities in South Korea's VSC-HVDC market and develop joint offerings covering the supply of key equipment and execution of HVDC projects.The companies also plan to establish a framework supporting the development of South Korea's next-generation power grid and potential expansion into the global HVDC market.The partnership combines GE Vernova's VSC-HVDC technology and global experience with LS Electric's domestic manufacturing and project execution capabilities, the companies said."Korea is entering a new phase of electricity infrastructure development, where generation and the grid need to advance together," said Philippe Piron, president and CEO of GE Vernova's Electrification segment.

$GEV
Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index slightly lower and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was up 0.1%, and the Dow Jones US Utilities Index declined 2.2%.Front-month West Texas Intermediate crude oil rose 0.1% to $86.90 a barrel, and the global benchmark Brent crude contract increased 0.4% to $94.13 a barrel. Henry Hub natural gas futures added 0.8% to $2.76 per 1 million BTU.In corporate news, GE Vernova (GEV) said Friday that it was selected by Quinbrook for the third stage of the Supernode battery energy storage project in Queensland, Australia, expanding its role across all three stages of the development. GE Vernova shares were shedding 0.8%.A German regulator found a carbon credits project funded by an Exxon Mobil (XOM) unit to be suspicious, possibly faking or overstating its environmental impact, Bloomberg reported, citing a report from the German Environment Agency. Exxon shares were down 0.7%.Petrobras (PBR) shares added 0.6% after it said Friday that it has entered direct negotiations for exploration contracts covering four offshore blocks in Ghana's Keta Basin after the country's Ministry of Energy and Green Transition approved its application.TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said Friday. TotalEnergies shares were down 0.8%.Brookfield Renewable Partners (BEP) shares were down 0.2%. The company said late Thursday it is planning to issue 750 million Canadian dollars ($545 million) of green bonds.

$BEP$GEV$PBR$TTE$XOM
Commodities

GE Vernova Expands Role in Australia's Quinbrook Supernode Battery Project

Quinbrook has chosen GE Vernova (GEV) to supply power conversion, controls and system integration technology for the third stage of the Supernode Battery Energy Storage System project in Queensland, Australia, GE Vernova said in a statement on Friday.The development expands GE Vernova's role across all three stages of the development.The completed Supernode project is expected to provide 780 megawatts of power capacity and 3,075 megawatt-hours of battery storage at a single site, making it one of Australia's largest battery energy storage developments.Stages 1 and 2, which use GE Vernova technology, are already fully operational and rank among the largest battery storage facilities operating in Australia's National Electricity Market.Stage 3 will add 260 MW of capacity and 1,216 MWh of four-hour storage. GE Vernova will supply the power conversion system, plant controls, system integration and grid-connection support.The project has already secured acceptance of the Generator Performance Standards, a key milestone that sets the technical requirements for its connection to Australia's electricity market.Stage 3 will also be GE Vernova's first grid-forming battery energy storage project in Australia. Grid-forming technology enables battery systems to actively support grid stability, including by providing frequency support and system-strength capabilities traditionally associated with conventional power plants.Quinbrook Senior Director James Allan said the Supernode site was designed to support Queensland's changing power system and could accommodate a further 520 MW of development, potentially including additional battery storage, data centers or a combination of the two.The Supernode development is located at a strategic point in Queensland's transmission network, allowing its batteries to store electricity during periods of high supply and return it to the grid as demand rises or renewable generation fluctuates, GE Vernova said.Price: $959.32, Change: $-6.69, Percent Change: -0.69%

$GEV
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday as Bitcoin Moves Past $77,000

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Friday's premarket activity as Bitcoin moved past $77,000 in one of its best weeks.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.8% before the start of regular trading.The S&P Global flash Composite Purchasing Managers' Index for August will be released at 9:45 am ET.In premarket activity, bitcoin was up by 5.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 6% higher, Ether ETF (EETH) advanced 2.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.02% lower.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) advanced 3.3%. The iShares Biotechnology ETF (IBB) was 0.6% higher.Aveanna Healthcare (AVAH) stock was down more than 3% premarket after the company said Thursday that selling stockholders priced a secondary public offering of 15 million common shares at $11.75 apiece.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.9%, while the Vanguard Industrials Index Fund (VIS) was up 1.4%, and the iShares US Industrials ETF (IYJ) was flat.GE Vernova (GEV) stock was up nearly 2% before the opening bell after the company said it was selected by Quinbrook for the third stage of the Supernode battery energy storage project in Queensland, Australia, expanding its technology role across all three stages of the development.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.2%, and the iShares US Consumer Staples ETF (IYK) advanced 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.9% higher.Tesla (TSLA) shares were up more than 1% pre-bell, following a 1.7% retreat in the previous session. China's State Administration for Market Regulation said the EV-maker is recalling more than 5.7 million vehicles in China over two separate safety issues involving emergency door handles and driver-attention monitoring.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.2% lower.KKR (KKR), alongside Dragoneer Investment Group (DGNR) and insurance distributor Amwins, has agreed to acquire Steadfast Group in a deal worth approximately 7.7 billion Australian dollars ($5.52 billion). Shares of KKR were up more than 1% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.8%, the iShares US Technology ETF (IYW) was 0.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 1.3%, while the iShares Semiconductor ETF (SOXX) rose by 1.6%.Broadcom (AVGO) shares were up more than 1% in premarket activity after Bloomberg News reported late Thursday that the company is in discussions with a group of lenders to raise as much as $100 billion in debt for an artificial intelligence chip financing deal.EnergyThe iShares US Energy ETF (IYE) gained 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.Vistra (VST) stock was up more than 1% before market open after Morgan Stanley lifted its price target to $227 from $212.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $86.99 per barrel on the New York Mercantile Exchange. Natural gas was up 1% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.6%, while the United States Natural Gas Fund (UNG) was 0.6% higher.Gold futures for November advanced by 1.3% to $4,628.70 an ounce on the Comex. Silver futures rose 1.8% to $70.14 an ounce. SPDR Gold Shares (GLD) gained 1.1%, and the iShares Silver Trust (SLV) was 1.7% higher.

Dow JonesNasdaq CompositeS&P 500$AVAH$AVGO$BETH$BITO$DGNR$EEM$EETH$EXI$FAS$FAZ$GEV$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KKR$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$VST$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Commodities

Duke Energy Files 2026 Resource Plan to Regulators

Duke Energy (DUK) has submitted its 2026 Carolinas Resource Plan to the Public Service Commission of South Carolina to address the state's rapid industrial growth and support expanding energy demand, the company said on Monday.Filed on Aug. 14, the roadmap aims to balance reliability, diverse resources, and customer affordability aligning with South Carolina's energy policy goals under the 2025 Energy Security Act, the company said.Key near-term initiatives include advancing natural gas projects underscored by an approved 1,400-megawatt combined cycle facility in Anderson County alongside turbine supply agreements with GE Vernova (GEV) and scaling battery storage, supported by a new request for proposals for 400 MW of standalone storage in the state.Furthermore, the portfolio maintains active solar procurement, maximizes existing nuclear assets via license renewals and uprates while evaluating future sites in Cherokee County, S.C. and Stokes County, N.C., and deploys Grid Edge programs to manage demand, it stated.Duke Energy estimated that combining tax-credit optimization, pending US Department of Energy loan applications, and the approved combination of Duke Energy Carolinas and Duke Energy Progress will deliver more than $5 billion in cost-saving benefits to customers.The regulator is scheduled to hold hearings on the resource plan in April 2027, with a final regulatory order expected by June 2027, according to the statement.

$DUK$GEV
Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.In corporate news, Shell (SHEL) shares gained 2.7% after the company reported Q2 results that beat consensus estimates.Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were up 0.4%, and Chevron added 0.3%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 2.1%.GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger said Thursday. GE Vernova shares rose past 8%.Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal. Emera shares were up 0.2%.

$BP$CVX$EMA$GEV$SHEL$XOM
Wire

GE Vernova Invests $166 Million to Expand its Operations in Western Pennsylvania

GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger announced on Thursday.GE Vernova will expand its current operations in Findlay and Rostraver townships and plans to install new industrial machinery and equipment at both facilities, supporting 714 new jobs, according to the statement.Shares of GE Vernova were up 8.8% in Thursday afternoon trading.Price: $979.29, Change: $+79.01, Percent Change: +8.78%

$GEV
Wire

President Capital Raises GE Vernova Price Target to $1,398 From $1,368, Maintains Buy Rating

GE Vernova (GEV) has an average rating of overweight and mean price target of $1,238.78, according to analysts polled by FactSet.Price: $939.63, Change: $-3.65, Percent Change: -0.39%

$GEV

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