2025-09-29 21:35
Sept 29 (Reuters) - NextEra Energy (NEE.N) , opens new tab said on Monday that the U.S. nuclear regulator has approved the license renewal for two units of its Point Beach plant in Wisconsin for another 20 years. The Nuclear Regulatory Commission's approval extends operations at Units 1 and 2 through 2050 and 2053, respectively. Sign up here. Nuclear power supply is gaining traction in the U.S. after years of stagnation, fueled by surging electricity demand from energy-hungry data centers and the electrification of transportation and manufacturing industries. President Donald Trump on his first day back in office in January issued an order declaring an energy emergency, and in late May, signed executive orders directing the NRC to ease regulations and expedite licensing processes for reactors and power plants. NextEra said that the two units, which began operations in the early 1970s, supply about 14% of Wisconsin's total electricity, enough to power nearly one million homes and businesses. It operates on a 1,200-acre site along Lake Michigan. The Turkey Point nuclear power plant in Florida operated by NextEra's sister company Florida Power & Light Company (FPL) secured license renewal approval late last year, while FPL's St. Lucie Nuclear Power Plant is undergoing the renewal process. https://www.reuters.com/business/energy/nexteras-wisconsin-nuclear-plant-units-get-license-extension-20-years-2025-09-29/
2025-09-29 21:30
TSX ends up 0.7%, at 29,971.91 Eclipses last Monday's record closing high Materials group rises 1.1% as gold hits record high Technology gains 2.8%, with Shopify up 6.2% TORONTO, Sept 29 (Reuters) - Canada's main stock index rose to another record high on Monday, as technology shares climbed and investors who are upbeat on prospects for the global economy cheered the index's heavy weighting in cyclical stocks. The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 210.63 points, or 0.7%, at 29,971.91, eclipsing last Monday's record closing high. Sign up here. "It's rinse and repeat almost every day for Canada lately," said Mike Archibald, a portfolio manager at AGF Investments. " It's one of the best performing global markets. It's got all the stuff you want if you're constructive on coordinated global growth into 2026. Sectors, such as financials, energy, materials and industrials tend to benefit particularly from stronger economic activity. They account for 77% of the TSX's weighting. "It looks like GDP growth is going to be better next year than this year in many parts of the world, so in a backdrop like that having exposure to financials and commodities and industrials ... is a thing of beauty," Archibald said. The materials sector (.GSPTTMT) , opens new tab, which includes fertilizer companies and metal mining shares, rose 1.1% as gold notched another all-time high and despite a decline of 4% for the shares of Barrick Mining (ABX.TO) , opens new tab. The company appointed veteran executive Mark Hill as interim president and CEO following the sudden resignation of Mark Bristow. Technology (.SPTTTK) , opens new tab was up 2.8%, with e-commerce company Shopify Inc (SHOP.TO) , opens new tab adding 6.2%. OpenAI introduced a feature that would allow users to make purchases through ChatGPT, in partnership with Etsy (ETSY.O) , opens new tab and Shopify. Shares of cannabis producers climbed after U.S. President Donald Trump advocated the potential benefits from the use of cannabidiol in senior healthcare in a social media post. Curaleaf Holdings Inc (CURA.TO) , opens new tab jumped nearly 35%. Energy was the only one of 10 major sectors to end lower, losing 1.5%. The price of oil settled down 3.45% at $63.45 a barrel on expectations that OPEC+ will approve another increase to crude oil production at its meeting on Sunday. https://www.reuters.com/markets/europe/tsx-futures-rise-gold-gains-us-government-shutdown-fears-loom-2025-09-29/
2025-09-29 21:03
Sept 29 (Reuters) - Jamie is enjoying some well-deserved time off, but the Reuters markets team will still keep you up to date on what's happening in markets. The spectre of a U.S. government shutdown loomed large across asset classes, with the Tuesday midnight deadline for an agreement little more than 24 hours away. Sign up here. I'd love to hear from you, so please reach out to me with comments at [email protected] , opens new tab Today's Key Reads Today's Key Market Moves Today's Key Talking Points * Shutdown bearing down Investors were girding for a U.S. federal government shutdown that could disrupt a wide range of services as soon as Wednesday. Trump was meeting with congressional leaders on Monday in a last-ditch effort to reach an agreement. Markets have largely shrugged off past shutdowns, but there were reasons to think this time could be different, with stocks trading at record highs and pricey valuations. One issue is the delay of economic data in the event of a shutdown, starting with the U.S. employment report due on Friday, and whether such delays might muddy the ability for the Federal Reserve to make monetary policy decisions. * Nearly three-quarters done Are we here already? Tomorrow marks the last day of the third quarter, which has been a bang-up period for U.S. stocks. The S&P 500 is up over 7% in the quarter, on track for its best third-quarter performance since 2020, while the tech-heavy Nasdaq Composite has gained nearly 11% in this quarter alone. The benchmark S&P 500 is well on its way to a third straight year of solid double-digit percentage gains. * L-B-Oh! In a jolt to the M&A landscape, video game developer Electronic Arts has agreed to sell itself to a group of private investors in a deal that valued it at $55 billion. That would be the largest leveraged buyout in history, if completed. The buyers of the videogame maker, whose titles include "Battlefield" and "Madden NFL," are Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners and private equity firm Silver Lake. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. https://www.reuters.com/business/global-markets-trading-day-2025-09-29/
2025-09-29 21:02
WASHINGTON, Sept 29 (Reuters) - Vice President JD Vance after a White House meeting with congressional leadership on Monday said he thought the US government would shutdown due to lack of agreement between Republicans and Democrats. "I think we're headed to a shutdown because the Democrats won't do the right thing. I hope they change their mind, but we're going to see," Vance told reporters outside of the White House. Sign up here. Senate Minority Leader Chuck Schumer told reporters that Democratic lawmakers laid out healthcare issues to President Donald Trump in the meeting. https://www.reuters.com/world/us/vance-says-us-heading-towards-government-shutdown-after-lawmaker-meeting-2025-09-29/
2025-09-29 21:01
Sept 29 (Reuters) - CenterPoint Energy (CNP.N) , opens new tab on Monday announced it was planning $65 billion in capital spending from 2026 through 2035, as U.S. utilities rush to capitalize on surging power demand. Data centers dedicated to artificial intelligence and cryptocurrency, as well as the electrification of industries such as transportation, are driving up U.S. power consumption. Sign up here. CenterPoint also raised its annual adjusted earnings per share forecast to between $1.75 and $1.77 per share, from $1.74 to $1.76 per share earlier. The new range is 9% higher at the midpoint than last year. Analysts estimate $1.76 per share, according to data compiled by LSEG. The U.S. electric and gas utility also expects 2026 adjusted EPS targeting at least the midpoint of the range of $1.89 to $1.91 per share. Power demand from U.S. data centers is expected to nearly triple in the next three years and consume as much as 12% of the total electricity produced, according to a study by Lawrence Berkeley National Laboratory. CenterPoint reiterated that electric peak load demand will increase about 50% to nearly 31 gigawatts (GWs) by 2031 and forecast peak power demand to double by the middle of the next decade. "Continued economic development is anticipated to drive significant growth in electric demand over the next decade, especially in Texas," the company said in a statement. CenterPoint in May said it intends to spend $4 billion in new projects to support its growth in Texas. Texas is one of the quickest-growing data center markets, with the business-friendly state also attracting other forms of energy-intensive industries such as computer chip manufacturing. CenterPoint delivers electricity and natural gas to more than 7 million customers across Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. https://www.reuters.com/business/energy/centerpoint-unveils-65-billion-capital-spending-plan-over-next-10-years-2025-09-29/
2025-09-29 20:42
Indexes close up: Dow 0.15%, S&P 500 0.26%, Nasdaq 0.48% Cannabis stocks surge after Trump endorses cannabidiol Electronic Arts up after $55 billion take-private deal Lam Research, AppLovin rally after bullish analyst notes Sept 29 (Reuters) - Wall Street indexes closed up on Monday with the Nasdaq leading gains as investors bought heavyweight technology stocks and shrugged off the uncertainty of a potential U.S. government shutdown and hawkish remarks from Federal Reserve officials. Technology provided the benchmark S&P's biggest boost as investors bet on growth from artificial intelligence and expectations that the Fed will keep cutting interest rates as it grapples with persistent inflation concerns and labor market uncertainties. Sign up here. A major focus for Wall Street this week is a standoff between Republicans and Democrats over funding that has raised the prospect of a government shutdown beginning Wednesday, the first day of the U.S. government's new fiscal year. Even as the Labor Department prepared for a potential delay of its September jobs report in the event of a shutdown, this did not seem to be the key market driver, said Lindsey Bell, chief strategist at 248 Ventures in Charlotte, North Carolina. "Investors are clinging to the positives," Bell said, pointing to rate easing hopes and signs of economic resilience from recent releases including housing market and consumer spending data. "The market is not going to shoot to the moon, because this is a risk. But investors can look through the potential for a shutdown, because if it does occur it will likely be resolved quickly and the market can resume focusing on the things that do matter, like earnings, monetary policy and AI investments." While shutdowns have not tended to impact corporate results historically, the imminent threat may have limited gains and kept trading volume light on Monday, according to Burns McKinney, portfolio manager and NFJ Investment Group in Dallas, Texas. "The only reason it would truly move markets is if it affects the bottom line. Historically speaking, government shutdowns are brief and they don't have an impact on profitability so investors tend to be forward-looking," said McKinney. "It's just like smoke on a racetrack. They just keep the wheels straight, manage through the stress and move forward through the smoke." The Dow Jones Industrial Average (.DJI) , opens new tab rose 68.78 points, or 0.15%, to 46,316.07, the S&P 500 (.SPX) , opens new tab gained 17.51 points, or 0.26%, to 6,661.21 and the Nasdaq Composite (.IXIC) , opens new tab gained 107.09 points, or 0.48%, to 22,591.15. Investors were also monitoring Fed policymakers' commentary for any signs of concern over the potential loss of economic visibility should a shutdown materialize. Cleveland Fed President Beth Hammack, among the most hawkish Fed officials and not a voter on policy this year, said on Monday the central bank needed to maintain restrictive monetary policy to cool inflation. St. Louis Federal Reserve President Alberto Musalem, a voter on rates this year, said he was open to further interest rate cuts but that the Fed must be cautious and keep rates high enough to continue to lean against inflation, which remains roughly a percentage point above the central bank's 2% target. Traders, however, are pricing in a roughly 89% chance of a 25-basis-point rate cut at the next Fed meeting, according to CME Group's FedWatch , opens new tab tool. Among the S&P 500's 11 major industry sectors, nine advanced. With oil prices falling more than 3%, the energy sector (.SPNY) , opens new tab was the biggest laggard, ending down 1.9%. Consumer discretionary (.SPLRCD) , opens new tab was the biggest percentage gainer, adding 0.6%. But for index point boosts, technology (.SPLRCT) , opens new tab was the clear leader with big pushes from AI chip leader Nvidia (NVDA.O) , opens new tab, up 2%, and Microsoft (MSFT.O) , opens new tab, which added 0.6%. Electronic Arts (EA.O) , opens new tab shares rallied 4.5% after the game publisher agreed to be taken private in a $55 billion deal, fueling hopes for broader deal prospects, said Bell of 248 Ventures, who saw the transaction as "confirmation that the M&A market is open." Lam Research (LRCX.O) , opens new tab shares advanced 2% after Deutsche Bank upgraded the rating on the chip-making equipment firm to "buy" from "hold." AppLovin (APP.O) , opens new tab set a fresh record high before closing up 6.3% at $712.36, also providing one of the biggest lifts for the S&P 500. Morgan Stanley raised the target price on the stock to $750 from $480. After U.S. President Donald Trump shared a video on Sunday promoting the health benefits of hemp-derived cannabidiol, U.S.-listed shares of cannabis-related companies rose. Canopy Growth rallied 17% to $1.57 while Cronos Group rose almost 13% to $2.97 and Tilray Brands (TLRY.O) , opens new tab jumped 60.9% to $1.85. Advancing issues outnumbered decliners by a 1.38-to-1 ratio on the NYSE where there were 337 new highs and 80 new lows. The S&P 500 posted 38 new 52-week highs and six new lows while the Nasdaq Composite recorded 116 new highs and 74 new lows. On the Nasdaq, 2,525 stocks rose and 2,118 fell as advancing issues outnumbered decliners by a 1.19-to-1 ratio. On U.S. exchanges about 17.91 billion shares changed hands compared with the 18.25 billion average from the last 20 sessions. https://www.reuters.com/business/wall-street-futures-stronger-footing-government-shutdown-concerns-take-center-2025-09-29/
