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Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.3%.The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index rose 1.2%.Brent crude futures rose close to the $100 mark on Tuesday after attacks on Saudi Arabian energy facilities prompted temporary production shutdowns. Oil prices are up so far in September following two consecutive monthly gains as tensions between the US and Iran escalated. Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The attacks sparked fires at several energy facilities, prompting a temporary halt to operations, the Saudi Energy Ministry. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg reported, citing the group's military spokesperson.Front-month West Texas Intermediate crude oil rose 2.2% to $93.52 a barrel, and the global benchmark Brent crude contract added 1.6% to $98.59 a barrel. Henry Hub natural gas futures fell 2% to $2.92 per 1 million BTU.In corporate news, Cenovus Energy (CVE) shares rose 2.8% after JPMorgan upgraded the stock to overweight from neutral.NextEra Energy (NEE) and the US Department of Energy, through its Office of Energy Dominance Financing, have agreed to a combined conditional commitment of up to $1.9 billion to restart the Duane Arnold Energy Center in Iowa, the company said Tuesday. NextEra shares added 0.9%.Equinor (EQNR) and Standard Lithium's (SLI) Smackover Lithium partnership said Tuesday that a preliminary economic assessment of the Franklin project in northeast Texas estimates annual production of up to 70,000 tonnes of battery-quality lithium carbonate. Equinor shares rose 2.9%.Solaris Energy Infrastructure (SEI) shares jumped past 15% after the firm said Tuesday that it now expects Q3 adjusted Ebitda of $110 million to $130 million, up from its previous guidance of $90 million to $105 million.

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Commodities

US Closes $1.9 Billion Loan for Restart of Iowa Nuclear Plant

The US has closed a loan of up to $1.9 billion to NextEra Energy (NEE) to help restart the Duane Arnold Energy Center in Iowa, the Department of Energy said on Tuesday, advancing the Trump administration's push to revive the country's nuclear fleet.The DoE said the financing will support returning the 615-megawatt plant in Linn County to service. Duane Arnold, Iowa's only nuclear power plant, shut down in 2020.The restart would add enough electricity to supply almost 500,000 homes, and help meet rising power demand across Iowa and the broader Midwest. The plant's return remains subject to required approvals from the US Nuclear Regulatory Commission.The Department said its Office of Energy Dominance Financing has now financed three nuclear plant restarts under the Trump administration and completed four concurrent conditional commitments and financial closings.The Duane Arnold project is part of a broader administration effort to expand nuclear generation as US power demand accelerates, particularly from data centers, manufacturing, and other energy-intensive industries.NextEra is seeking to bring the facility back online after its closure in 2020, joining a broader US industry push to preserve and revive existing nuclear capacity rather than relying solely on new reactor construction.Price: $84.25, Change: $+0.82, Percent Change: +0.98%

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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.

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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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Wire

DBS Bank Adjusts Price Target on NextEra Energy to $90 From $85

NextEra Energy (NEE) has an average rating of overweight and mean price target of $102.67, according to analysts polled by FactSet.Price: $85.07, Change: $-0.84, Percent Change: -0.98%

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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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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.

$AEE$AEP$AES$CNP$D$DUK$EIX$ETR$EXC$NEE$NI$OGE$PNW$SO$SRE
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
Sectors

Sector Update: Energy Stocks Edge Lower Late Afternoon

Energy stocks were slightly lower late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.1%.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index rose 0.3%.Front-month West Texas Intermediate crude oil fell 2.6% to $81.08 a barrel, and the global benchmark Brent crude contract shed 2.4% to $86.89 a barrel. Henry Hub natural gas futures declined 2.8% to $2.73 per 1 million BTU.In geopolitical news, the Strait of Hormuz is "under Iran's control and management," the recently appointed head of Iran's Basij paramilitary unit said Thursday, a day after President Donald Trump said the US had "total control" of the waterway, Reuters reported.US natural gas stocks rose by 36 billion cubic feet in the week ended Aug. 7, higher than the 31 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 33 billion cubic feet in the previous week.In corporate news, Exelon's (EXC) ComEd unit has restored power to more than 80% of customers affected by severe storms that swept through northern Illinois on Aug. 11 and 12, the company said Thursday. Exelon shares were up 0.7%.Delek Logistics Partners (DKL) shares fell past 11% after the company said it priced an underwritten public offering of 4 million units at $50 each for gross proceeds of $200 million.Kodiak Gas Services (KGS) has visibility into multiyear EBITDA growth amid rising demand across power and natural gas, RBC Capital Markets said in a note Wednesday. RBC kept an outperform rating on the stock and increased its price target to $88 from $84. Kodiak shares rose 1%.NextEra Energy (NEE) shares added 0.4%. The company said late Wednesday it signed an agreement with the US Department of Commerce and the Japanese government to fund the development and operation of up to 10 gigawatts of natural gas-powered generation in Texas and Pennsylvania.

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Sectors

Sector Update: Energy

Energy stocks were slightly lower late Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index rose 0.3%.Front-month West Texas Intermediate crude oil fell 2.6% to $81.08 a barrel, and the global benchmark Brent crude contract shed 2.4% to $86.89 a barrel. Henry Hub natural gas futures declined 2.8% to $2.73 per 1 million BTU.In corporate news, NextEra Energy (NEE) shares added 0.2%. The company said late Wednesday it signed an agreement with the US Department of Commerce and the Japanese government to fund the development and operation of up to 10 gigawatts of natural gas-powered generation in Texas and Pennsylvania.

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Commodities

NextEra Energy, US, Japan Agree to Funding Terms for up to 10 GW of Gas Generation

NextEra Energy (NEE) signed definitive agreements with the US Department of Commerce and the government of Japan to fund the development and operation of up to 10 gigawatts of natural gas-fired power generation in Texas and Pennsylvania, the company said in a statement on Thursday.The agreements mark a funding milestone for two projects selected as part of Japan's $550 billion investment commitment to the US under a US-Japan trade agreement announced in March.The agreements release the first tranche of funding for the projects, which NextEra said will support development activities including down payments for long-lead equipment such as turbines and the selection of engineering, procurement and construction contractors. Further details of the agreements were not disclosed.NextEra said the funding, provided in partnership with the US and the Japanese government, is intended to help accelerate construction of large-scale power infrastructure.The company said initial generation from the projects could come online as early as the end of 2028, with the developments expected to be completed by 2032.NextEra will continue development in coordination with federal, state and local authorities, the company said. The projects remain subject to permitting and other regulatory requirements, as well as development, construction and commissioning activities.Price: $85.95, Change: $+0.16, Percent Change: +0.19%

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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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Sectors

Sector Update: Energy Stocks Gain Wednesday Afternoon

Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 2.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.9%.The Philadelphia Oil Service Sector Index was decreasing 1.1%, and the Dow Jones US Utilities Index shed 0.8%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.Front-month West Texas Intermediate crude oil jumped 6.6% to $84.46 a barrel, and the global benchmark Brent crude contract surged 7.4% to $90.33 a barrel. Henry Hub natural gas futures rose 1.1% to $2.69 per 1 million BTU.In corporate news, Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4%.Eni (E) shares gained 7.2% after it reported higher Q2 net profit and sales.Woodside Energy (WDS) shares rose 4.8% after it reported higher Q2 operating revenue.NextEra Energy (NEE) and Brookfield (BN) are part of a group that will develop a data center campus at the Energy Department's Paducah Site in Kentucky for $100 billion, according to a joint statement. NextEra shares were down 0.3%.

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Wire

Top Midday Stories: Stocks Down, Oil Up as Trump Vows Strong Response to Iran Attacks; Vertiv Q2 Revenue Misses Estimates

All three major US stock indexes were down in late-morning trading Wednesday after President Trump vowed to hit Iran hard in response to recent attacks on US forces in Jordan and ahead of the Federal Reserve's decision on interest rates to be announced in the afternoon.In company news, Vertiv Holdings (VRT) reported Q2 adjusted earnings Wednesday of $1.52 per diluted share, up from $0.95 a year earlier and above the FactSet consensus analyst estimate of $1.42. Second-quarter revenue was $3.27 billion, up from $2.64 billion a year ago but below the FactSet consensus of $3.38 billion. For full-year 2026, the company expects adjusted diluted EPS of $6.65 to $6.75, above the FactSet consensus of $6.49. Vertiv said it expects Q3 adjusted diluted EPS of $1.77 to $1.83, in line with the FactSet consensus of $1.79. Vertiv shares were down 12.8% around midday.CBIZ (CBZ) agreed to be acquired by Grant Thornton Advisors in an all-cash deal with an enterprise value of $5 billion, the companies said Wednesday. Under the deal terms, CBIZ shareholders will receive $55 in cash per share, the companies said. CBIZ shares were up 16.8% around midday.The UK's Competition and Markets Authority said Wednesday it is investigating whether Microsoft (MSFT) provided pertinent information on changes to Microsoft 365 personal and family subscription plans. Microsoft shares were up 0.3%.NextEra Energy (NEE) and Brookfield (BN) are part of a strategic partnership group that will develop a data center campus at the Energy Department's Paducah Site in Kentucky for $100 billion, according to a joint statement. Big Rivers Electric Power, Jackson Purchase Energy Cooperative and Paducah Power System are also in the partnership. NextEra shares were down 0.1%, while Brookfield shares were down 2.2%.Morgan Stanley's (MS) mortgage bankers have allegedly been pressured to approve mortgages for wealthy clients despite underwriting concerns, The Wall Street Journal reported Wednesday, citing current and former employees, emails and internal documents. Morgan Stanley shares were down 3.3%.Price: $54.55, Change: $+7.85, Percent Change: +16.81%

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