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An &#8220;everything rally&#8221; powered Wall Street on Wednesday after the 2024 election results, with Donald Trump emerging as the clear presidential winner. The Republican Party reclaimed control of the Senate, while the House of Representatives leans Republican <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41778433/s-p-500-dow-hit-record-highs-after-trump-win-fear-index-drops-20">but remains undecided.</a>
The major U.S. equity indices – the S&amp;P 500, Dow Jones Industrial Average, and Nasdaq 100 – surged to record highs in early trading, as investor optimism grew on expectations of more favorable tax policies. 
The S&amp;P 500, Nasdaq, and Dow posted gains of 2.3%, 2.4%, and 3.3%, respectively.
However, the real standouts were small caps and bank stocks, with investors turning to domestic businesses and U.S. banks in anticipation of potential tariff protections and further financial deregulation. 
The Russell 2000 jumped 5.5%, marking its largest single-day increase in two years. 
Large-cap bank stocks climbed 6%, while regional banks tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) soared 13%—both seeing their biggest one-day gains since November 2020, when the first COVID-19 vaccine was announced.
Clean energy stocks were among the day's worst performers, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) plunging 11% for its steepest drop since March 2020, as investors braced for potential rollbacks on green initiatives under the Trump administration.
In the foreign exchange market, the U.S. dollar initially rallied nearly 2% before paring gains to 1.4% as traders awaited a Federal Reserve interest rate cut on Thursday.
Treasury yields spiked as expectations rose for larger budget deficits under Republican fiscal policies and higher inflation due to potential tariffs. The 10-year Treasury yield climbed 14 basis points to 4.41%, reaching a four-month high.
Gold prices fell 2.8%, silver dropped over 4%, while natural gas rose 3.8%. Oil prices remained steady.
In the cryptocurrency market, risk appetite thrived, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rising over 8% to reach a record high of $75,000. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) gained 10%, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged 14%, the strongest performance among the top 10 cryptocurrencies.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, Sectors</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,388.20</td>
<td>5.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,739.86</td>
<td>3.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,740.09</td>
<td>2.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,922.98</td>
<td>2.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. ET</figcaption></figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-day % chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials</td>
<td>6.0%</td>
</tr>
<tr>
<td>Energy</td>
<td>4.0%</td>
</tr>
<tr>
<td>Industrials</td>
<td>3.9%</td>
</tr>
<tr>
<td>Cons. Discretionary</td>
<td>2.9%</td>
</tr>
<tr>
<td>Technology</td>
<td>2.7%</td>
</tr>
<tr>
<td>Communications</td>
<td>1.9%</td>
</tr>
<tr>
<td>Materials</td>
<td>1.8%</td>
</tr>
<tr>
<td>Health Care</td>
<td>0.3%</td>
</tr>
<tr>
<td>Utilities</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Cons. Staples</td>
<td>-1.7%</td>
</tr>
<tr>
<td>Real Estate</td>
<td>-3.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 2.4% to $590.30.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rallied 3.5% to $437.05.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 2.5% to $504.69.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) spiked 5.6% to $236.23.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, rising 6%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 3.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports were: 
<ul>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), up 2%, </li>
<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), up 1.8%, </li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), down 22%, </li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), up 12%,</li>
<li>DBA Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>), up 5.8%, </li>
<li>American Electric Power Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>), down 3%, </li>
<li>Cencora Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>), up 5.5%, </li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>), up 10.7%, </li>
</ul>
Major companies moving in reaction to election results were: 
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), up 14.8%, </li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), up 14.4%, </li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 13.1%, </li>
<li>Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), up 13.1%, </li>
<li>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), up 12.9%. </li>
</ul>
The rallies in the stock and crypto markets drove shares of Robinhood Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) up by 18% and 26%, respectively.
Major losers among clean energy stocks included Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), down 16.7% and 10.5%, respectively. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41781115/stock-of-the-day-trump-media-technology-hits-resistance-reverses-and-trends-lower">Stock Of The Day: Trump Media &amp; Technology Hits Resistance, Reverses And Trends Lower</a></li>
</ul>
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Trump's Win Sends Indices To Record Highs; Financials, Small Caps Surge, Bitcoin Tops $75,000: What's Driving Markets Wednesday?

With Donald Trump clinching a second term in the 2024 U.S. presidential election, markets are turning their attention to his potential impact on <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">the economy and markets. </a>
While past performance doesn't guarantee future results, it can still provide valuable insights for investors looking for clues about what to expect from the new administration.
Here's a detailed look at how the 11 S&amp;P 500 sectors fared during Trump's first term.
<h1 class="wp-block-heading">S&amp;P 500 Sector Performance During Trump's First Term (November 2016- November 2020)</h1>
Although Trump wasn't sworn in as president until January 2017, financial markets began reacting to his potential policies immediately after his election.
Trump's first term, which spanned from Nov. 8, 2016 — the day he won against Hillary Clinton — to Nov. 3, 2020 – when he lost versus Joe Biden — brought varied performances across S&amp;P 500 sectors.
Technology and consumer discretionary sectors led the rally, while energy was the clear laggard, with the only negative return among sectors over those four years.
Tech stocks were buoyed by the spectacular rise of Magnificent Seven giants. An equally weighted basket of Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) delivered a remarkable 380% return from November 2016 to November 2020. That return is nearly double the performance of the Magnificent Seven during Biden&#8217;s term.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/11/41756882/magnificent-7-basket-notches-over-200-gain-since-bidens-election-how-did-tech-giants-perform-und">Magnificent 7 Basket Notches Over 200% Gain Since Biden&#8217;s Election: How Did Tech Giants Perform Under Trump?</a>
Regarding the energy sector's poor performance, that wasn't solely a result of the COVID-19 pandemic-driven oil price collapse.
Despite Trump's pro-fossil-fuel policies, energy stocks faced persistent headwinds throughout his term, even before 2020, with the global shift toward renewables putting continuous pressure on traditional oil and gas investments. 
Surprisingly to many, solar stocks — tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) — were among the top-performing industries during Trump's first presidency, soaring by an impressive 267% between November 2016 and November 2020.
Below is a table and chart showing the performance of S&amp;P 500 sectors under Trump&#8217;s first term. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector ETF</th>
<th>Performance Nov. 8, 2016 – Nov. 3, 2020</th>
</tr>
</thead>
<tbody>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>+138.56%</td>
</tr>
<tr>
<td>Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>+86.70%</td>
</tr>
<tr>
<td>Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>+53.58%</td>
</tr>
<tr>
<td>Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>+40.29%</td>
</tr>
<tr>
<td>Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>+37.81%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>+31.52%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>+24.31%</td>
</tr>
<tr>
<td>Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>+21.99%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>+20.20%</td>
</tr>
<tr>
<td>Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>+15.84%</td>
</tr>
<tr>
<td>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>-57.40%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-1024x501.png" alt="" class="wp-image-633249" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Financials Were Early Winners In Trump's First Term</h1>
In the first three months following Trump's 2016 election, financials stocks saw significant gains. 
The Financial Select Sector SPDR Fund (XLF) rose by 17.2% between Nov. 8, 2016, and Jan. 10, 2017, outpacing all other sectors. The rally was driven by anticipation of deregulation and tax cuts, which boosted investor confidence in banks and other financial stocks.
Conversely, consumer staples and utilities — traditionally defensive sectors — were the weakest performers in that initial period, with losses of 2.39% and 2.3%, respectively.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>Return (Nov. 8, 2016 &#8211; Jan. 10, 2017)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials (XLF)</td>
<td>+17.21%</td>
</tr>
<tr>
<td>Industrials (XLI)</td>
<td>+8.07%</td>
</tr>
<tr>
<td>Materials (XLB)</td>
<td>+7.15%</td>
</tr>
<tr>
<td>Energy (XLE)</td>
<td>+6.91%</td>
</tr>
<tr>
<td>Consumer Discretionary (XLY)</td>
<td>+6.00%</td>
</tr>
<tr>
<td>Health Care (XLV)</td>
<td>+4.58%</td>
</tr>
<tr>
<td>Technology (XLK)</td>
<td>+4.20%</td>
</tr>
<tr>
<td>Real Estate (XLRE)</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Utilities (XLU)</td>
<td>-2.30%</td>
</tr>
<tr>
<td>Consumer Staples (XLP)</td>
<td>-2.39%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-1024x501.png" alt="" class="wp-image-633276" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Market Reaction To Trump's 2024 Victory: Financials And Industrials Lead Again</h1>
On November 6, 2024, the day after Trump's re-election was confirmed, market activity showed a familiar pattern with financials and industrials posting the strongest gains. 
Financials climbed by 5.6%, followed by energy and industrial, each more than 3.5%, suggesting renewed optimism for deregulation and potential infrastructure investment as investors previously had in the first three months following his election in 2016. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>S&amp;P 500 Sector ETF</th>
<th>% Change (Nov. 6, 2024)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials (XLF)</td>
<td>+5.7%</td>
</tr>
<tr>
<td>Energy (XLE)</td>
<td>+3.8%</td>
</tr>
<tr>
<td>Industrials (XLI)</td>
<td>+3.6%</td>
</tr>
<tr>
<td>Consumer Discretionary (XLY)</td>
<td>+2.6%</td>
</tr>
<tr>
<td>Technology (XLK)</td>
<td>+2.4%</td>
</tr>
<tr>
<td>Communications (XLC)</td>
<td>+1.9%</td>
</tr>
<tr>
<td>Materials (XLB)</td>
<td>+1.3%</td>
</tr>
<tr>
<td>Health Care (XLV)</td>
<td>+0.0%</td>
</tr>
<tr>
<td>Utilities (XLU)</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Consumer Staples (XLP)</td>
<td>-1.6%</td>
</tr>
<tr>
<td>Real Estate (XLRE)</td>
<td>-3.4%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-1024x501.png" alt="" class="wp-image-633331" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">What Could Be Similar — And What Might Change — in Trump's Second Term?</h1>
Trump's return to the White House could bring back some familiar market dynamics, but the economic and geopolitical landscape in 2024 is notably different from 2016. 
Investors should be prepared for a mix of potential tailwinds and headwinds that may shape sector performance in unique ways.
Trump's expected emphasis on tax cuts, deregulation and support for traditional energy sources could once again boost sectors like financials, industrials and consumer discretionary. Financial stocks, in particular, might benefit from any renewed push to ease regulatory restrictions, while industrials could get a lift from a possible infrastructure spending package.
As in his first term, Trump's focus on "America First" policies could support domestic manufacturing and sectors tied to infrastructure, including industrials and materials.
Trump's pro-fossil-fuel stance could give the energy sector some breathing room. Traditional energy companies may benefit if there's a shift in focus back toward oil and gas, though this will depend on global energy market dynamics.
Global trade dynamics have shifted significantly since Trump's first term, with ongoing tensions between the U.S. and China.
If Trump reintroduces tariffs on Chinese imports, it could impact tech and industrials sectors, which rely on international supply chains and components.
Last but not least, even if Trump policies seem to prioritize fossil fuels, the private sector&#8217;s commitment to renewables could still drive growth in solar and clean energy stocks.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41775079/dollar-index-sees-biggest-1-day-rally-since-brexit-on-trump-victory">Dollar Index Sees Biggest 1-Day Rally Since Brexit On Trump Victory</a></li>
</ul>
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How Did S&P 500 Stock Sectors Perform During Trump's First Term? Could This Time Be Different?

Investors are zeroing in on what <a href="https://www.benzinga.com/general/politics">potential political outcomes</a> in the U.S. elections Tuesday could mean for the markets.
WisdomTree's Global CIO, Jeremy Schwartz and Senior Economist Jeremy Siegel have shared insights on how a Republican or Democratic win could shape sectors across both the equity and bond markets.
Here's what WisdomTree sees on the horizon.
<h2 class="wp-block-heading">Bond Market Volatility: How Policy Could Shape Yields</h2>
Siegel said bond markets are primed for volatility, with each election outcome pointing to different scenarios for interest rates and yields. A Republican sweep, accompanied by tax cuts and heightened fiscal spending, could push bond yields upward by 20 basis points or more, he said. In this scenario, investors might brace for inflationary pressures and potentially tighter monetary policy, which would counterbalance any short-term equity gains.
On the flip side, a Democratic sweep is seen as a stabilizing force for bonds, with expectations for moderated spending and pro-growth fiscal restraint. 
WisdomTree's Kevin Flanagan, head of fixed income strategy, notes that Democratic policies might offer a predictable, low-volatility environment that helps maintain steady rates and tempers inflation concerns.
A divided government could yield the "best case" for bonds, creating stability through gridlock that limits sweeping fiscal changes and curbs deficit growth.
<h2 class="wp-block-heading">Equity Market Winners: Mag 7 In Focus Under GOP, Infrastructure &amp; Clean Energy For Democrats</h2>
For equity markets, each scenario presents distinct opportunities, particularly in the growth-oriented and infrastructure sectors. Under a Republican administration, WisdomTree expects an initial boost in stocks like the Magnificent Seven: (Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 
The Magnificent Seven stocks could be driven by extended tax cuts, reduced regulation, and potential capital gains exemptions.
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) provides exposure to the Magnificent Seven stocks along with other popular tech-heavy ETFs such as the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), the Vanguard Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) and the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).
This favorable backdrop for the tech-heavy sector could stimulate momentum, although Siegel cautions that rising yields might cap equity gains by pressuring valuations.
In contrast, a Democratic sweep would likely favor sectors tied to clean energy and infrastructure. With a focus on the Inflation Reduction Act, the Democratic agenda is expected to channel substantial support into solar, hydrogen and renewable energy projects. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) provides exposure to solar stocks.
Read Also: <a href="https://www.benzinga.com/markets/esg/24/11/41722922/trump-vs-harris-evgo-cleveland-cliffs-plug-power-nucor-brace-for-2024-election-impact">Trump Vs. Harris: EVgo, Cleveland-Cliffs, Plug Power, Nucor Brace For 2024 Election Impact</a>
This shift would likely benefit clean energy stocks while weighing on small-cap stocks with high U.S. revenue exposure, as they would face the most significant earnings impact from higher corporate tax rates. 
Investors in clean energy ETFs such as the iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NYSE">GRID</a>) and those invested in small-cap stocks via ETFs such as the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) or the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) should be wary of their holdings.
According to Wisdom Tree, Democratic leadership could also benefit international markets, as the reduced likelihood of higher tariffs might ease trade concerns and foster demand.
<h2 class="wp-block-heading">Navigating The Election Landscape</h2>
Beyond direct impacts on stocks and bonds, WisdomTree suggests that a blend of strategies, such as private credit, inflation hedges like gold, and international exposure with currency hedging, may help investors manage market uncertainty.
Trade policies, inflation, and the Federal Reserve's trajectory are all likely to play roles in shaping post-election strategies, underscoring the value of a diversified approach.
As the U.S. awaits the election results, WisdomTree's analysis highlights a divided outlook for investors. Whether the election ushers in policies that lift the Magnificent Seven stocks or bolsters the bond market, each scenario brings unique opportunities and risks to watch in the weeks ahead.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41746843/bond-market-fear-gauge-soars-to-1-year-high-ahead-of-us-election-results-bond-vigil">Bond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: &#8216;Bond Vigilantes Have Been Voting Early&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Analyst Color

Long Ideas

Analyst Ratings

First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index Fund

GRID

iShares S&P Global Clean Energy Index Fund

ICLN

MAGS

Republican Win Likely To Lift Magnificent 7 Stocks, Democratic Sweep 'Better For Bonds,' Says WisdomTree

The U.S. stock market struggled to gain momentum on Monday as investors remained cautious ahead of <a href="https://www.benzinga.com/topic/election-day">Election Day on Tuesday</a>. 
Vice President Kamala Harris holds a 1-point lead over ex-President Donald Trump, according to the New York Times national polling average; she has a 4-point lead among likely voters nationally, <a href="https://maristpoll.marist.edu/polls/u-s-presidential-contest-november-2024/">according to the latest PBS News/NPR/Marist poll</a>.
Betting markets, as tracked by the CFTC-regulated Kalshi, favor a Trump win at a 53% chance, <a href="https://www.benzinga.com/general/politics/24/11/41702729/harris-surges-in-prediction-markets-nabs-kalshi-lead-with-just-three-days-to-go">but with diminishing odds</a> compared to previous weeks. Also, the betting odds are susceptible to wild swings from so-called "whale" bettors, including one individual on Polymarket <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41463756/polymarket-to-review-user-base-in-light-of-whales-betting-millions-on-trump-election-win" target="_blank" rel="noreferrer noopener">who spent as much as</a> $43 million on a Trump victory.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41717129/polymarkets-all-time-leading-trader-bets-over-500-000-on-kamala-harris-slams-nate-silver-f">Polymarket&#8217;s All-Time Leading Trader Bets Over $500,000 On Kamala Harris, Slams Nate Silver For Including &#8216;Fake Poll&#8217; Data In Model</a>
&#8220;Neither candidate holds a meaningful edge in enough states to win 270 electoral votes. In the history of modern polling, there's never been a race where the final polls showed such a close contest,&#8221; said Nate Cohn, chief political analyst for the New York Times. 
The S&amp;P 500 slipped 0.2%, while the Dow dropped 0.6%, hitting its lowest intraday level since mid-September. In contrast, small-cap stocks in the Russell 2000 outperformed, rising 1%. The Nasdaq 100 also retreated, dipping below the 20,000 mark.
Treasury yields fell by nearly 10 basis points as investors scaled back positions linked to Trump&#8217;s inflationary policies, such as high tariffs and more expansionary fiscal measures. The dollar also weakened, down 0.5%.
The increasing likelihood of a Harris victory gave a boost to solar and renewable energy stocks, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) climbing 3.6%. 
Oil and gas stocks also gained, as crude prices surged 3% after OPEC+ postponed an anticipated production hike. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) jumped 3%, marking its largest single-day gain since late June.
Gold held steady at $2,740, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 1%, dropping below $68,000.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,230.95</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,715.31</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,978.22</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,807.92</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.1% to $570.22.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.5% to $418.44.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.2% to $486.77.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $221.27.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, rising 1.7%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>), down 3.9%, </li>
<li>Constellation Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NYSE">CEG</a>), down 10.5%, </li>
<li>Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), down 1.8%, </li>
<li>Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), down 0.4%, </li>
<li>Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>), down 5.9%, </li>
<li>TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), down 5.5%. </li>
<li>Fox Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>), up 3.7%, </li>
<li>YUM China Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>), up 7.9%, </li>
<li>Loews Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>), down 4.8%, </li>
</ul>
Stocks slated to report earnings after the close are Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) and Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>).
Now Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41702887/harris-takes-lead-in-red-state-iowa-in-shock-poll">Harris Takes Lead In Red State Iowa In Shock Poll</a></li>
</ul>
Image: Shutterstock

Equities

Macro Economic Events

ALAB

FANG

HOLX

ILMN

NXPI

PLTR

VRTX

YUMC

Wall Street Struggles Ahead Of Election Day, Energy Sector Outperforms, Solar Stocks Rise: What's Driving Markets Monday?

Todd Gordon joined <a href="https://www.benzinga.com/premarket-prep">Benzinga&#8217;s PreMarket Prep </a>on Monday morning to discuss the possible aftermath of Tuesday&#8217;s <a href="https://www.benzinga.com/topic/2024-election">U.S. presidential election</a> between Donald Trump and Kamala Harris.
Main Takeaways: Gordon foresees a possible sell-off in the immediate aftermath of Tuesday&#8217;s election, citing technical factors.
&#8220;I think regardless, the way the market&#8217;s acting, the odds are some kind of pullback, either relief—just profit taking into whatever political combination unfolds—or if there&#8217;s uncertainty and we don&#8217;t have a president&#8230; I think there&#8217;s potentially a sell-off coming,&#8221; Gordon said.
Still, Gordon sees a long-term upside in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
&#8220;Longer-term, I am very bullish on this market. I like where earnings are, I like where rates are, I like where the yield curve is, we&#8217;ve just got to get through this insane political environment.&#8221;
Gordon anticipates that a Trump win could lead to a hawkish Federal Reserve decision on Thursday.
&#8220;Let&#8217;s say Trump comes in, he&#8217;s viewed to be pretty inflationary because he&#8217;s a protectionist, he wants onshoring&#8230; maybe the Fed can&#8217;t be as dovish as they want to be.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Market&#039;s On Edge Before The Big Day &#x7C; PreMarket Prep" width="500" height="281" src="https://www.youtube.com/embed/yP39yUjy9nY?start=2017&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Markets Move Monday: Markets reacted on Monday morning to encouraging polling for Harris over the weekend. 
Pollster Ann Selzer&#8216;s Iowa poll showed Harris <a href="https://www.benzinga.com/news/24/11/41702887/harris-takes-lead-in-red-state-iowa-in-shock-poll" target="_blank" rel="noopener">taking a shock lead</a> in the Hawkeye state. Selzer&#8217;s polls have been an uncanny predictor of electoral success since 2008. The final New York Times-Siena <a href="https://www.nytimes.com/2024/11/03/us/politics/harris-trump-times-siena-poll.html">poll</a> released Sunday also showed positive signs for Harris. The two polls are among the highest <a href="https://projects.fivethirtyeight.com/pollster-ratings/">rated</a> on 538.
Prediction markets moved accordingly—Harris gained 10% back on Trump on Polymarket and also pulled closer on Kalshi.
The solar-focused Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) jumped over 4% midday on Monday. Shares of First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) traded up over 6% at the time of writing.
Also Read:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41715076/oil-prices-spike-by-over-3-as-opec-delays-production-increases-ahead-of-us-electi">Oil Prices Spike By Over 3% As OPEC+ Delays Production Increases Ahead Of US Elections: 5 Energy ETFs To Watch Monday</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Trump, Harris And The Market: Expert Braces For Post-Election Sell-Off, Stays Long-Term Bullish On S&P 500

Solar energy companies have been among the <a href="https://www.benzinga.com/markets/esg/24/10/41450681/enphase-energy-solar-stock-stuck-in-the-dark-hopes-earnings-spark-a-turnaround">market&#8217;s biggest underperformers</a> in recent weeks but traded well in the green on Friday. Have solar&#8217;s woes hit an inflection point?
Solar&#8217;s Performance: Investors have been bearish on solar energy in 2024. The solar-tracking Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) is down over 25% year to date; solar&#8217;s performance in the past month ranks last in the technology industry.
The largest components have fared poorly <a href="https://www.benzinga.com/quote/ENPH/earnings">following lackluster earnings</a>. Rising material costs and political uncertainty aren&#8217;t helping, either.
Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shed over 30% of its market cap from Sept. 24 to Thursday. Canadian Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) is down over 18% while shares of First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) dropped nearly 20% in that timeframe.
Array Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) has performed, comparatively, even in the past month, though is down over 61% in 2024.
What Happened Friday: Solar stocks were among the market&#8217;s top performers on Friday, according to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-10-25/china-solar-stocks-jump-on-optimism-oversupply-will-be-addressed">reported</a> on Friday morning that China could address oversupply concerns by curbing industry production. A new policy could speed up the retirement of less-efficient polysilicon plants; polysilicon is a key component in the solar supply chain.
The market quickly reacted:
<ul>
<li>Shares of Canadian Solar closed the day up 9.83%.</li>
<li>Shares of Enphase Energy closed the day up 3.37%.</li>
<li>Shares of Array Technologies closed the day up 4.38%.</li>
<li>Shares of First Solar closed the day up 1.24%.</li>
</ul>
What&#8217;s Next?: An obvious catalyst (or hindrance) for investors looking to invest in the solar energy industry is the <a href="https://www.benzinga.com/topic/2024-presidential-election">2024 United States presidential election</a> between Vice President Kamala Harris and former President Donald Trump. 
Harris, the Democratic nominee, has supported <a href="https://www.benzinga.com/markets/esg/24/07/39888337/what-a-kamala-harris-presidency-could-mean-for-oil-stocks-chevron-marathon-move-lower">reducing greenhouse gas emissions</a> through the adoption of green energy. Trump, the Republican nominee, has <a href="https://www.benzinga.com/markets/equities/24/07/39846094/exclusive-would-a-trump-victory-help-or-hurt-solar-stocks-benzinga-poll-shows-investors-divided">previously falsely claimed</a> that climate change is a hoax. A Trump presidency <a href="https://www.benzinga.com/markets/equities/24/10/41213583/what-a-trump-win-could-mean-for-financial-energy-stocks-lessons-from-2016">would likely benefit</a> mining, oil and gas companies and present an obvious headwind for solar.
Perhaps much of solar&#8217;s underperformance in recent weeks can be chalked up to <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41455938/donald-trumps-election-odds-surge-to-64-on-polymarket-60-on-kalshi-and-favorite-in-all-swi">growing market confidence</a> that Trump will prevail come November. Solar stocks <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">previously performed well</a> during times of momentum for Harris.
Also Read:
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41552274/tech-stocks-rally-as-investors-await-magnificent-7-earnings-dollar-eyes-fourth-straight-positive-we">Tech Stocks Rally As Investors Await Magnificent 7 Earnings; Dollar Eyes Fourth Straight Positive Week: What&#8217;s Driving Markets Friday?</a></li>
</ul>
Image: Midjourney

Movers & Shakers

Movers

ARRY

CSIQ

Solar Energy Surges: Could Friday's Price Action Mark A Reversal For Solar's Underperformance?

Solar energy industry experts say the development of tandem panels could increase the efficiency of solar power.
What Happened: Tandem solar panels, which stack two solar materials on top of each other to capture more of the sun&#8217;s energy, achieved a record-breaking 33.89% efficiency. 
This is a significant leap from the 20-22% efficiency of commercially available solar panels, <a href="https://www.wired.com/story/tandem-solar-panel-cells-efficiency-energy/">reported</a> Wired, citing a study published in Nature.
The tandem solar cells, developed by a team of researchers at the energy giant LONGi, combine silicon and perovskite materials. This innovation allows the cells to capture an additional 60% of solar energy. It also reduced the number of panels required to produce the same energy. It also cuts installation costs and land requirements for solar farms.
See Also: <a href="https://www.benzinga.com/news/24/09/41059891/elon-musk-says-because-almost-none-of-you-do-your-math-sums-the-world-is-largely-not-using-the-big-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says The World Isn&#8217;t Using The Sun&#8217;s Energy Enough Because Most People Don&#8217;t Do The Math</a>
While the current efficiency of silicon solar cells is limited to about 29%, perovskite materials, discovered less than two decades ago, have emerged as the ideal complement to silicon technology. Their light absorption tunability allows them to capture high-energy blue light more efficiently than silicon, thereby increasing the total tandem efficiency.
Why It Matters: The recent breakthrough in tandem solar panels could have far-reaching implications for the solar energy industry. The increased efficiency of these panels could significantly reduce the number of panels required for solar farms and cut installation costs and land requirements. The development of tandem solar panels comes at a time when solar power is gaining significant traction. Solar companies, like Sunrun Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) and Enphase Energy (NADSAQ:ENPH), could benefit in the long run if technological advancements make residential solar more attractive. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), an ETF that tracks the solar space, traded down more than 2% Tuesday as the overall market declined amid geopolitical tensions in the Middle East.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41083814/mark-cuban-warns-elon-musk-that-when-the-time-comes-he-needs-trump-the-most-he-will-find-out-the-tru?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Warns Elon Musk: When The Time Comes He Needs Trump The Most He Will Find Out The Truth</a></li>
</ul>
Benzinga editors produced and reviewed this content with the help of AI tools.
Image: Pixabay

General

Double The Power, Half The Panels: Scientists Tout Tandem Solar Cells For Capturing Record Energy

Elon Musk is at it again, igniting the solar conversation with a tweet Tuesday.
&#8220;Solar power is growing super fast,&#8221; Musk said on his X platform. &#8220;In the very long-term (Kardashev Scale), solar will be &gt;99% of all power generation.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Solar power is growing super fast. In the very long-term (Kardashev Scale), solar will be &gt;99% of all power generation. <a href="https://t.co/CLFpGoL3OT">https://t.co/CLFpGoL3OT</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1841122348742680715?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
His words couldn't come at a better time for the sector. According to a Reuters <a href="https://www.reuters.com/sustainability/sustainable-finance-reporting/us-unveil-first-two-decisions-more-solar-tariffs-2024-09-30/">report,</a> U.S. trade officials are set to announce potential tariffs on solar panels from four Southeast Asian countries, which could reshape the landscape for solar stocks.
<h1 class="wp-block-heading">Tariff Decisions Loom Over Solar Manufacturers</h1>
This week, the U.S. Department of Commerce will decide on trade cases brought by U.S. manufacturers, including Hanwha Qcells and First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), aiming to counteract what they call unfair subsidies from competitors in Malaysia, Vietnam, Thailand and Cambodia.
The stakes are high: tariffs could either protect American jobs or inflate costs for solar developers already facing a challenging market.
<h1 class="wp-block-heading">Optimism In U.S. Solar Sector</h1>
Despite the tariff uncertainty, optimism is brewing among investors in the U.S. solar sector. Companies such as Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and SolarEdge Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) are eyeing double-digit growth in the solar market by 2025.
Recent insights from JPMorgan analyst Mark Strouse highlight a wave of positivity following the RE+ renewables industry conference, suggesting a resurgence in U.S. solar demand, driven by lower interest rates and stable utility pricing.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816556/enphase-solaredge-sunrun-eye-double-digit-growth-as-solar-market-rebounds-on-kamala">Enphase, SolarEdge, Sunrun Eye Double-Digit Growth As Solar Market Rebounds On Kamala Harris Election Odds</a>
<h1 class="wp-block-heading">Tax Incentives Benefit Enphase, SolarEdge</h1>
Enphase and SolarEdge aren't just riding the wave; they're positioned to benefit significantly from tax incentives, including a 36% domestic content ITC adder that could bolster their profit margins. 
As the U.S. focuses on expanding domestic solar manufacturing, these companies are well-poised to capitalize on the growing appetite for clean energy solutions.
<h1 class="wp-block-heading">Investors Keep A Close Eye On U.S. Solar Stocks</h1>
Meanwhile, the situation across the pond is less rosy. Europe is grappling with dwindling demand, particularly in the Netherlands, where policy uncertainty has caused a staggering 70%-80% drop year-over-year.
This divergence highlights the U.S. solar market as a beacon of hope amid global challenges.
With Musk&#8217;s bold vision for solar power resonating in the investment community, now is the time to keep a close eye on solar stocks like Enphase, SolarEdge and First Solar and solar stocks-tracking ETFs such as the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>).
Will tariffs bolster American manufacturing or inflate project costs? 
One thing's for sure: the solar energy landscape is heating up, and investors need to stay tuned!
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41111038/elon-musk-gets-bold-font-removed-from-xs-main-timeline-because-of-excessive-use-my-eyes-are-bleeding">Elon Musk Gets Bold Font Removed From X&#8217;s Main Timeline Because Of &#8216;Excessive&#8217; Use: &#8216;My Eyes Are Bleed</a><a href="https://www.benzinga.com/news/24/10/41111038/elon-musk-gets-bold-font-removed-from-xs-main-timeline-because-of-excessive-use-my-eyes-are-bleeding">ing&#8217;</a></li>
</ul>
Photo: Courtesy SolarEdge

Government

SEDG

Elon Musk's Solar Vision Sparks Excitement: What's Next For Enphase, SolarEdge, First Solar?

The volatility that dominated markets in the early part of the month sharply reversed in the past week, driven by growing expectations of interest rate cuts that have bolstered investor risk appetite.
The latest batch of inflation statistics for August have given the green light for the Federal Reserve to proceed with an interest rate cut, which is highly likely to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">occur on Sept. 18.</a>
The remaining question concerns the size of the cut — whether it will be 25 basis points or 50 basis points — though market consensus and recent comments from Fed officials suggest the more conservative 25 basis points is the likely scenario.
Risk assets experienced a significant rebound, with the S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), recovering losses from the prior week and notching five straight days of gains. A similar picture emerged for the Nasdaq 100, which marked the best week since October 2023.
Treasury yields fell substantially and the dollar weakened, driving the price of gold to <a href="https://www.benzinga.com/markets/equities/24/09/40833654/gold-reaches-record-high-as-dollar-weakens-on-soft-producer-inflation-data-wall-street-eyes-four">fresh all-time highs.</a>
Additionally, the week saw the first televised debate between Vice President Kamala Harris and former President Donald Trump, with polls indicating Harris outperformed, <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">further widening her lead.</a>
<h1 class="wp-block-heading">You Might Have Missed…</h1>
<h1 class="wp-block-heading">Gold Miners Surge</h1>
Gold mining stocks, as monitored through the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), rallied this week, marking on Thursday their best one-day performance in six months as gold prices hit new record highs. A macro strategist highlighted striking similarities between today&#8217;s economic landscape <a href="https://www.benzinga.com/markets/equities/24/09/40838414/gold-miners-eye-best-1-day-rally-in-6-months-as-gold-hits-fresh-record-highs-todays-environment-">and the turbulent 1970s.</a>
<h1 class="wp-block-heading">VP Harris Boosts Solar</h1>
Solar stocks, tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), surged as Vice President Harris emerged as the clear winner in her debate with Trump, bolstering confidence in clean energy policies. Several leading renewable energy companies saw <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">sharp gains this week.</a>
<h1 class="wp-block-heading">Small Cap Rally</h1>
In an exclusive interview with Benzinga, a Lazard small-cap expert forecasted a 30-50% rally in the Russell 2000, fueled by declining interest rates and strengthening economic conditions. With the Federal Reserve poised to begin a rate-cutting cycle, small-cap stocks are anticipated to outperform, closing the performance gap <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40794070/exclusive-lazard-small-cap-expert-predicts-30-50-russell-2000-rally-on-the-back-of-">with larger-cap counterparts.</a>
<h1 class="wp-block-heading">Autonomous Vehicle Growth</h1>
U.S. autonomous vehicle sales are projected to reach 230,000 units by 2034, following renewed progress at Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo and General Motors Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Cruise. Advancements in technology and regulatory approvals are expected to drive the industry forward, boosting consumer <a href="https://www.benzinga.com/news/24/09/40792410/us-autonomous-vehicle-sales-to-hit-230k-by-2034-after-progress-resumes-at-alphabets-waymo-gms-cruise">adoption and market penetration.</a> Read Next: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40861742/nasdaq-100-posts-biggest-weekly-rally-in-almost-a-year-as-fed-rate-cut-hopes-grow-top-"> • Nasdaq 100 Posts Biggest Weekly Rally In Almost A Year As Fed Rate Cut Hopes Grow: Top 7 Tech Stocks Of The Week</a> 
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference on Oct. 9-10, 2024</a>,&nbsp;at the Chicago Marriott Downtown Magnificent Mile.
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Secure your spot and get your tickets today!</a>
Photo: Shutterstock

Econ #s

Market Vectors ETF Trust Market Vectors Gold Miners

Rate-Cut Prospects Fuel Investor Risk Appetite, Gold Hits Record Highs, Harris Outperforms Trump: This Week In The Markets

Wall Street witnessed a broad sell-off on Wednesday, except for the tech sector, as investor optimism over disinflation progress cooled following a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">mixed August inflation report.</a>
The Consumer Price Index (CPI) rose 2.5% year-over-year, slightly below the 2.6% estimate and down from July&#8217;s 2.9%, marking the slowest pace of inflation since February 2021. The bulk of this decline came from energy-related categories.
However, core inflation — excluding the more volatile components like food and energy — rose 0.3% month-over-month, surpassing expectations of 0.2%. The annual core CPI remained at 3.2%, reflecting persistent inflation in service-related sectors.
A key driver of inflation continues to be shelter costs, which rose 0.5% from the previous month—the sharpest increase since January — and account for nearly a third of the total CPI.
The report dashed hopes for a Federal Reserve rate cut in the upcoming meeting. Market expectations for a 50-basis-point cut plummeted to just 13%, down from 34% the day before, as per CME FedWatch. 
The inflation data gave the U.S. dollar a lift and nudged Treasury yields higher across the board. Sectors most sensitive to interest rates, such as real estate, materials and financials, led the sell-off.
In contrast, tech stocks defied the broader market slump, driven by strong gains in the semiconductor space. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 4.5%, buoyed by the market's reaction to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40817347/donald-trump-lost-debate-to-kamala-harris-will-lose-ground-in-the-polls-polymarket-traders">latest U.S. presidential debate</a> between Vice President Kamala Harris and former President Donald Trump. 
The two candidates engaged in a back-and-forth about <a href="https://www.benzinga.com/general/politics/24/09/40731719/goldman-sachs-kamala-harris-victory-bodes-well-for-us-economy-trump-tariffs-will-drive-up-inflat">tariffs on goods</a>, which would impact inflation and the chipmaking industry.
Solar stocks also rallied, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) jumping over 4%, as the prospect of a Harris administration increased <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">optimism for renewable energy policies.</a> First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) was the top performer within the industry, jumping over 12%. 
Elsewhere, gold remained flat, while oil prices rebounded over 2% after Tuesday&#8217;s sell-off. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped more than 2%.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,865.96</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,476.37</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,092.21</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,436.47</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $547.10.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.7% to $405.59.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $459.93.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $207.30.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) was the laggard, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Lithium-related stocks surged on Wednesday after reports of production disruptions in China sent the price of the commodity climbing. Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), one of the world&#8217;s largest lithium producers, rallied 9.7% on the news.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) surged 8.6% to $93.63 after Bank of America analyst Omar Dessouky reiterated a Buy rating and raised the price target from $100 to $120.</li>
<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rallied 8.1% amid bullish remarks from Bank of America analyst John Murphy, CFA who expects the Gravity SUV to get a large total addressable market.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) tanked 13.8% as revenue missed expectations last quarter. </li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) plummeted 12.8% in reaction to the presidential debate. </li>
</ul>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a></li>
</ul>
Image: Shutterstock

LCID

Stocks Fall As Inflation Data Chills Rate-Cut Excitement, Chipmakers, Solar Sector Soar On Harris-Linked Boost: What's Driving Markets Wednesday?

First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) shares are pushing higher Wednesday as solar stocks climb following Tuesday night's debate between Vice President <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816556/enphase-solaredge-sunrun-eye-double-digit-growth-as-solar-market-rebounds-on-kamala">Kamala Harris and Donald Trump.</a>
The Details:
First Solar shares are climbing Wednesday as investors react to Vice President Harris&#8217;s <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">Tuesday's debate</a> against Republican nominee Donald Trump. 
Read Next: <a href="https://www.benzinga.com/news/24/09/40797656/whats-going-on-with-palantir-stock">What&#8217;s Going On With Palantir Stock?</a>
Harris emphasized her support for alternative energy sources during the debate. Coco Zhang, an ESG research analyst at ING Group, <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">highlighted</a> Harris's track record of promoting clean energy development, including her support for a carbon tax and a ban on fracking.&nbsp;
&#8220;My position is that we have got to invest in diverse sources of energy so we reduce our reliance on foreign oil,&#8221; Harris said during the debate.&nbsp;
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) is climbing higher Wednesday, boosted by gains from SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) and Sunrun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) as investors see a Harris win as more likely following the debate.&nbsp;
<h3 class="wp-block-heading">Will FSLR Stock Go Up?</h3>
When trying to assess whether or not First Solar will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $299.64 on First Solar. The Street high target is currently at $360 and the Street low target is $250. Of all the analysts covering First Solar, 11 have positive ratings, no one has neutral ratings and no one has negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/FSLR/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering First Solar have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. First Solar is 36.26% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about First Solar, visit <a href="https://www.benzinga.com/quote/FSLR">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
FSLR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, First Solar shares are up 11.4% at $232 at the time of publication Wednesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40800988/whats-going-on-with-amd-stock-today">What&#8217;s Going On With AMD Stock Today?</a></li>
</ul>
This image was generated using artificial intelligence via Midjourney.

News

What's Going On With First Solar Stock?

Solar stocks rallied Wednesday, rebounding from recent four-year lows, following Vice President Kamala Harris&#8216;s strong showing against former President Donald Trump at their highly anticipated presidential <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40813068/a-flash-poll-shows-kamala-harris-as-the-clear-winner-of-the-debate-against-donald-trump-bu">debate on ABC. </a>
Investors appeared buoyed by Harris's performance during the debate, which signaled potential stability for clean energy policies under a future administration, sparking renewed interest in the solar sector.
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), a benchmark for the solar industry, surged by 3.7% by 11:05 a.m. ET, even as broader market sentiment remained bearish following a concerning August inflation report.
<h3 class="wp-block-heading">Harris&#8217;s Debate Performance Boosts Clean Energy Optimism</h3>
In a CNN/SSRS poll of 600 registered voters who tuned into the debate, 63% said Harris outperformed Trump, while 37% favored the former president. Prior to the debate, the same group of voters had been evenly split on their expectations of who would deliver a stronger performance.
Coco Zhang, an ESG research analyst at ING Group, noted that Harris is &#8220;likely to preserve the Biden administration's most important climate legacy, emphasizing a more efficient implementation of the Inflation Reduction Act (IRA).&#8221;
Harris has long been a vocal advocate for clean energy. During a 2023 speech at Coppin State University, she reiterated her administration's long-term goals: &#8220;We set an ambitious goal to cut our greenhouse gas emissions in half by 2030 and to reach net-zero emissions by 2050,&#8221; she said.
Also Read: <a href="https://www.benzinga.com/news/24/09/40815343/not-a-slam-dunk-for-harris-but-the-chances-of-a-trump-victory-have-slipped-investors-markets-adjust">&#8216;Not A Slam Dunk For Harris, But The Chances Of A Trump Victory Have Slipped:&#8217; Investors, Markets Adjust Positions After Presidential Debate</a>
<h3 class="wp-block-heading">Harris&#8217;s Climate Legacy</h3>
Zhang emphasized that Harris&#8217;s campaign proposals in 2020 included an aggressive $10 trillion investment in decarbonizing the U.S. economy, the establishment of a carbon tax, and a ban on fracking. &#8220;We expect her to propose expanded clean energy spending, with a greater focus on environmental justice and affordable energy,&#8221; said Zhang.
Furthermore, a Harris-led administration would likely enforce stricter regulations on vehicles, oil, and gas industries, aligning with her vision to advance U.S. climate leadership on the global stage, particularly through continued participation in key climate summits like the United Nations Conference of the Parties.
<h3 class="wp-block-heading">Solar Stocks: Wednesday&#8217;s Top 7 Gainers</h3>
Below are the top gainers in the solar sector on Wednesday:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</td>
<td>7.98%</td>
</tr>
<tr>
<td>Shoals Technologies Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>)</td>
<td>7.80%</td>
</tr>
<tr>
<td>Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>)</td>
<td>6.47%</td>
</tr>
<tr>
<td>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) </td>
<td>6.33%</td>
</tr>
<tr>
<td>Nextracker Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>)</td>
<td>5.80%</td>
</tr>
<tr>
<td>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>)</td>
<td>5.00%</td>
</tr>
<tr>
<td>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>)</td>
<td>4.43%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40810498/bill-ackman-and-elon-musk-blast-kamala-harris-for-her-social-media-posts-during-debate-with-trump-ev">Bill Ackman And Elon Musk Blast Kamala Harris For Her Social Media Posts During Debate With Trump: &#8216;Even Her Tweets Are Not Her Own&#8217;</a></li>
</ul>
Photo created using Shutterstock and Midjourney.

SHLS

Solar Shares Climb As Harris Gains Momentum Post-Debate Against Trump: 7 Top Gainers In Clean Energy

As Vice President Kamala Harris&#8216; odds improve ahead of the 2024 presidential election, observers expect a promising rebound in the U.S. <a href="https://www.benzinga.com/topic/solar-energy">residential solar market</a>.
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), a barometer of the solar energy market, gained over 3% in pre-market trading, following the consensus that <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">Harris won Tuesday&#8217;s debate</a> against Republican nominee Donald Trump.
Roughly 27.67% of the TAN portfolio is comprised of three stocks: Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), SolarEdge Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>), and Sunrun Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>).
Invesco Solar is down 28.94% for the past year, and about 24% year-to-date. But demand is improving, with industry leaders expecting double-digit growth by 2025.
<h2 class="wp-block-heading">Solar Stocks Rise On Kamala Harris&#8217; Winning Odds</h2>
Under the Biden administration, U.S. oil production rose to <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">new all-time highs</a>. Clean energy stocks also thrived, partially due to the Inflation Reduction Act, which provides crucial tax credits for the sector.
With Harris being a strong supporter of clean energy, the current odds are a positive catalyst for the sector.
Moreover, insights from JPMorgan's Mark Strouse, following the RE+ renewables industry conference, point to potential strong growth—though global challenges persist.
<h2 class="wp-block-heading">US Solar Demand Rebounds, Europe Struggles</h2>
The solar giants are optimistic about the U.S. market's recovery, driven by stable utility pricing, lower interest rates, and increased capacity eligible for domestic content tax credits. 
According to Strouse, &#8220;Each company expressed optimism regarding double-digit U.S. market growth in 2025.&#8221; 
However, Europe continues to lag, particularly in the Netherlands, where demand has dropped by 70-80% year-over-year due to uncertainty around net metering policies, he said.
<h2 class="wp-block-heading">Tax Incentives Boost Enphase, SolarEdge</h2>
Strouse also noted that Enphase and SolarEdge received a significant boost as their microinverters and inverters now qualify for a 36% domestic content ITC adder. 
Enphase expects this to improve margins, while SolarEdge anticipates a neutral impact. Both companies, he said, are optimistic about upcoming storage solutions, despite increased competition from Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Powerwall 3.
Read Also: <a href="https://www.benzinga.com/top-stories/24/08/40585808/tesla-energy-highlights-texas-record-breaking-battery-power-milestone-could-powerwall-have-its-momen">Tesla Energy Highlights Texas Battery Power Milestone: Could Powerwall Have Moment In Spotlight?</a>
<h2 class="wp-block-heading">Sunrun, Sunnova Face Financing Shifts</h2>
Meanwhile, Strouse also notes that Sunrun and Sunnova Energy International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) are keeping an eye on financing spreads, which may widen after SunPower Corp&#8216;s (OTCEM: SPWRQ) recent bankruptcy filing.
Nevertheless, with declining base rates, the overall cost of debt for industry leaders is expected to improve over time.
As Europe lags, U.S. solar demand is poised to rise, with Enphase, SolarEdge, and Sunrun leading the charge in a recovering market.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40804481/whats-going-on-with-ftc-solar-stock">What&#8217;s Going On With FTC Solar Stock?</a></li>
</ul>

Specialty ETFs

Markets

NOVA

SPWRQ

Enphase, SolarEdge, Sunrun Eye Double-Digit Growth As Solar Market Rebounds On Kamala Harris Election Odds

Clean energy jobs grew at <a href="https://www.benzinga.com/news/earnings/24/07/40051107/first-solar-reports-strong-q2-results-eps-beat-sales-up-24">twice the rate </a>of overall jobs in the U.S. in 2023, according to a report from the U.S. Department of Energy (DOE) released on Wednesday.
Jobs in that sector grew by 4.2%, or 142,000 positions, last year, compared to a job growth rate of 2.0% in the overall economy, the 2024 U.S. Energy and Employment Report (USEER) showed.
The report also revealed that unionization rates in clean energy reached 12.4% in 2023, surpassing a unionization rate of 11% for the entire energy sector, which added 250,000 jobs last year.
Clean energy sectors that experienced the greatest growth last year were zero-emission vehicle and renewable energy, as well as transmission, distribution and storage, according to the report.
 "Our policies are working. We are now starting to see the job impacts of investments made through the infrastructure and inflation reduction laws &#8211; first in construction and as America builds more of these factories, we'll see hundreds of thousands more," U.S. Secretary of Energy Jennifer M. Granholm said in a statement.
Read Also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/07/39993019/everythings-bigger-in-texas-lone-star-state-will-build-more-clean-energy-than-next-10-states-com">Everything&#8217;s Bigger In Texas: Lone Star State Will Build More Clean Energy Than Next 10 States Combined</a>
"The data clearly show that clean energy means jobs – good jobs, union jobs, and jobs retained – in communities across the country as we race to dominate the global clean energy economy," Granholm added.
Clean energy jobs grew in all 50 states and the District of Columbia in 2023, led by a 7.7% increase in Idaho, followed by Texas at 6.0%, and New Mexico at 5.9%.
The solar and wind sectors reported respective job growth of 5.3% and 4.5% in 2023, the report stated.
 The DOE projects that the Inflation Reduction Act will double the share of electricity generation from clean sources by 2030, driven by growth in solar and wind. 
The report also said that there were 28,000 jobs in the U.S. last year that involved building new battery and solar module factories, ports for offshore wind, and warehouses to store and transport clean energy products.
&#8220;Thanks to the Biden-Harris administration&#8217;s historic investments, clean energy jobs are booming in every single state,&#8221; AFL-CIO President Liz Shuler said in a statement.
Price Action: Solar and wind companies are trending in both directions as of Wednesday&#8217;s early-morning trading.
<ul>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 0.05% to $122.53</li>
<li>Brookfield Renewables L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) gained 0.16% to $25.05</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) slipped 1.40% to $182.96</li>
<li>Vestas Wind Systems A/S (OTCPK: VWDRY) ticked up 0.13% to $7.62I</li>
</ul>
Exchange-traded funds that hold these stocks also saw gains and losses on Wednesday morning.
<ul>
<li>IShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) gained 0.21%</li>
<li>First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) slipped 0.03%</li>
<li>Invesco Solar ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) ticked down 0.42%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/top-stories/24/08/40585808/tesla-energy-highlights-texas-record-breaking-battery-power-milestone-could-powerwall-have-its-momen">Tesla Energy Highlights Texas Battery Power Milestone: Could Powerwall Have Moment In Spotlight?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

VWDRY

Clean Energy Jobs Grow Twice As Fast As Overall Job Market In 2023: 'Our Policies Are Working'

Certain exchange-traded funds, or ETFs, experienced a significant surge following Fed Chair Jerome Powell&#8217;s speech at <a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40529209/jerome-powell-time-has-come-for-interest-rate-cuts-cooling-in-labor-market-unmistakable">the Jackson Hole Symposium</a>.
&#8220;The time has come for policy to adjust,&#8221; Powell said in a speech. 
The reassuring statement regarding upcoming rate cuts sparked a strong rally in the most interest rate-sensitive corners of the stock <a href="https://www.benzinga.com/markets/equities/24/08/40530908/powells-rate-cut-signal-triggers-small-cap-rally-gold-makes-record-highs-dollar-tumbles-7-etfs-o">market during Friday&#8217;s session.</a> Here&#8217;s a look at three of the top-performing industry ETFs on Friday: regional banks, solar, and home builders.
See Also: <a href="https://www.benzinga.com/news/24/08/40532443/strong-economy-doesnt-justify-4-rate-cuts-this-year-how-about-3-what-experts-are-saying">Strong Economy Doesn&#8217;t &#8216;Justify&#8217; 4 Rate Cuts This Year: How About 3? What Experts Are Saying</a>
<h2 class="wp-block-heading">1) Regional Banks</h2>
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) surged 5% by 3:00 p.m. ET, setting up for its strongest session since December 2023. 
Notably, all 141 of its constituents posted gains, underscoring a broad-based rally across the regional banking industry. 
Eagle Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NYSE">EGBN</a>), United Community Banks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) and Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>) were the strongest performers, up 10.6%, 9.6% and 8.7%, respectively.
Regional banks benefit from lower interest rates mainly because borrowing costs go down, resulting in higher loan demand among customers.
Additionally, U.S. regional banks can find a relief from decreased stress on their non-performing exposures, especially in commercial real estate, as reduced borrowing costs can encourage those firms to refinance their debt or invest in their businesses, thereby improving their ability to meet financial obligations.
<h2 class="wp-block-heading">2) Solar </h2>
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) soared 4.6% on Friday, marking its best session since late May 2024. 
Top gainers were Sunnova Energy International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NASDAQ">NOVA</a>) and SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) up 13.7% and 12.5%, respectively. 
Solar companies often require substantial upfront capital to finance the development and installation of solar projects. Lower interest rates reduce the cost of borrowing, making it cheaper for these companies to fund their projects.
<h2 class="wp-block-heading">3) Home Builders</h2>
The iShares Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>) gained 3.8%, on track to close Friday&#8217;s session at fresh record highs. 
Top-performing names within this industry included Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>), Dream Finders Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>) and Arhaus, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARHS#NYSE">ARHS</a>), all screening gains above 7%. 
Increased housing demand due to more affordable mortgage rates and lower financing costs represent tailwinds for the home construction business. 
<h2 class="wp-block-heading">Chart: Regional Banks, Solar Energy, Home Builders Rally</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="459" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23150757/image-234-1024x459.png" alt="" class="wp-image-511618" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23150757/image-234-1024x459.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23150757/image-234-300x135.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23150757/image-234-768x344.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23150757/image-234-1536x689.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/23150757/image-234.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082324&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
The market interpreted Powell&#8217;s remarks as a green light for the first interest rate cut at the imminent September Open Market Committee meeting. However, Powell provided no indications regarding the size of the cut or the future trajectory of interest rates.
Powell paved the way for a turnaround in companies most negatively impacted by the recent surge in interest rates. Markets had already fully priced in a September rate cut and over 85 basis points of cuts by year-end.
&#8220;Fed Chair Jerome Powell was dovish in his Jackson Hole&nbsp;speech&nbsp;today. He didn&#8217;t hedge. He didn&#8217;t push back against market expectations of several rate cuts ahead as we anticipated he might,&#8221; Ed Yardeni, president at Yardeni Research, commented. 
&#8220;Fed Chair Powell took a dovish tone at Jackson Hole, sounding more preemptive on the labor market and locking in a September cut,&#8221; Bank of America economist Aditya Bhave&nbsp;stated. 
Powell &#8220;struck a dovish tone on the labor market and more firmly emphasized that the Fed's tolerance for labor market cooling had reached its limits and any further weakening would be unwelcome," Goldman Sachs economist Jan Hatzius stated. 
Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
Read now: 
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<li><a href="https://www.benzinga.com/government/24/08/40532173/powell-removes-any-uncertainty-around-september-rate-cuts-in-jackson-hole-speech-economists">Powell Removes &#8216;Any Uncertainty&#8217; Around September Rate Cuts In Jackson Hole Speech: Economists</a></li>
</ul>

ARHS

BLDR

EGBN

iShares Dow Jones US Homenstruction Index Fund

Powell's Dovish Stance Ignites Rally In Stocks Craving Lower Borrowing Costs: 3 ETFs Positioned For Fed Rate Cuts

First Trust Global Wind Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAN#NYSE">FAN</a>), which follows the wind energy industry, is up 4% since January and <a href="https://www.benzinga.com/topic/wind">6.6% in the past year</a>.
The coal industry, meanwhile, has been facing setbacks from the investment community for several years. 
The obvious shift to <a href="https://www.benzinga.com/topic/clean-energy">clean energy sources</a> hasn't yet been enough to declare coal's definitive demise, but concerns over climate change from fossil fuel burning have caused many firms and individuals to drop coal-related holdings.
However, continued dependence on coal burning abroad continues to be a lifeline for coal companies in the U.S., pushing the industry into a sharp contrast to the clean energy sector, which has struggled to outperform the market in 2024.
<h3 class="wp-block-heading">Is Coal Dead? Some Don't Think So</h3>
In 2020, the market saw the shutdown of VanEck Vectors Coal ETF, which was at the time the only remaining ETF following the coal industry.
At the time, fund manager BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) said the firm's actively managed funds would no longer hold shares of companies deriving more than 25% of revenues from the thermal coal business, Barrons <a href="https://www.barrons.com/articles/the-only-coal-etf-is-closing-what-it-means-for-investors-51608225200">reported</a>.
In turn, many investors and firms have switched towards environmentally-friendly energy stocks and ETFs.
Yet some in the industry continue to believe there's a case for investing in coal.
In January of this year, Range ETFs, a firm dedicated to running ETFs around niche themes, launched the Range Global Coal Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COAL#NYSE">COAL</a>) which provides exposure to companies involved in the production, exploration, development, transportation, and distribution of coal.
Since its launch, the price of the ETF oscillated between $21 and $26 and is $22.6 at the time of this writing, with year-to-date gains of 0.86%.
In an investment document, Range claims there is still an investment case for coal, in spite of an obvious global trend to detach from it.
Demand for coal actually grew on a global scale between 2021 and 2022, led by China and India, according to the International Energy Agency.
Coal burning represents 16.2% of the total utility-scale electricity generation in the U.S., according to the latest data from the Energy Information Administration and 36% on a global scale.
In the U.S., the firm says, "‘energy security' as one element of national security." This means that the government will continue to guarantee the availability of reliable energy sources to make up for possible gaps in energy supply stemming from green energy production.
Read also: <a href="https://www.benzinga.com/markets/equities/24/08/40333362/teslas-elon-musk-warns-against-vilifying-oil-and-gas-industry-in-trump-interview-cautions-agains">Tesla&#8217;s Elon Musk Warns Against Vilifying Oil And Gas Industry In Trump Interview, Cautions Against Rushing With Sustainable Energy Transition: &#8216;It&#8217;s Not Like The House Is On Fire Immediately&#8217;</a>
In June, the coal industry was affected by election results in India, which gave investors the idea that the country might not continue with a plan to upsize its coal use, though <a href="https://www.benzinga.com/markets/asia/24/06/39173971/coal-stocks-take-a-breather-as-trading-sentiment-sours-in-commodities-markets-was-the-election-in-in">some analysts called it a natural market correction</a> from an "overbought" sector.
The balance between trends running against "dirty" energy sources and short-term tailwinds for the coal industry have resulted in varying performances for some of its largest players over the past year.
<ul>
<li>Shares of Peabody Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>), which is the largest coal producer in the U.S. are down 7.7% since January but up 2.3% in the past year.</li>
<li>The second largest producer, Arch Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) has performed a lot worse in 2024, with shares down over 24% since January. According <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40363492/top-3-energy-stocks-that-may-rocket-higher-this-quarter">to data from Benzinga Pro</a>, the stock appears oversold and its share price could rise this year.</li>
<li>Warrior Met Coal Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>) shares are up 49% in the last year.</li>
</ul>
<h3 class="wp-block-heading">Wind Beats Solar In 2024</h3>
<a href="https://www.benzinga.com//node/40379430">A Benzinga technical analysis from this week</a> showed that EV maker Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could be up for a rebound after losing almost 13% of its value since January.
Other companies in the clean energy sector, however, could be struggling more.
Shares in the iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) are stuck in a pattern that technical analysts call the "death cross," which occurs when the 50-day moving average crosses below its long-term moving average of 200 days. The fund is down 8% since January and 12% in the last year.
 The solar energy sector has been struggling more than wind. Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), which follows the solar sector, has also performed poorly in recent periods. The fund is down 22% since January and 30% in the past year.
Now Read:
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</ul>

ARCH

COAL

Is Coal Dead? Wind Just Ate Its Lunch This Year — 7 Energy ETFs To Watch In 2024

The summer of 2024 <a href="https://www.benzinga.com//node/40112086">keeps on breaking temperature records</a>.
Globally, July 2024 was the second hottest July in history after July 2023, according to a Thursday report by the European Union&#8217;s Copernicus Climate Change Service.
Global averages take into consideration the entire world's temperature, including the Southern Hemisphere, where winter occurs between June and September.
This July was cooler than last year's by just approximately 1 degree Farenheit (0.04 degrees Celsius), yet it was the hottest month on record for some regions, including the Western U.S. and Canada, as well as most of Africa, the Middle East and Asia.
Having a slightly less warm July than last year is no cause for celebration. July 2024 was the first time in 13 months that average temperatures didn't beat the previous historical record for that month and it hosted the two hottest days on record globally.&nbsp;
&#8220;We are not done with temperature records causing heatwaves &#8230; We know this long-term warming trend can be, with a very high level of confidence, related to the human impact on climate,&#8221; said Julien Nicolas, a climate researcher with Copernicus, to Reuters.
 July 2024 was on average 2.7 degrees Fahrenheit (1.48 degrees Celsius) higher than pre-industrial levels on a global basis. 
In California, this July was the hottest month on record, with an average statewide temperature of 81.5 degrees Fahrenheit (27.5 degrees Celsius), beating the previous record of 79.8 degrees Fahrenheit (26.5 degrees Celius) set in July 2021, the San Francisco Chronicle <a href="https://www.sfchronicle.com/weather/article/record-hottest-july-california-19621377.php">reports</a>.
Death Valley, known for holding the record for the hottest place on earth, recorded its hottest month in history during July. The Death Valley National Park registered a 24-hour average of 108.5 degrees Fahrenheit (42.5 degrees Celsius) and a daily peak average of 121.9 degrees Fahrenheit (50 degrees Celsius).
Needles, a small town in California, dethroned Phoenix, Arizona as the hottest urban center in the country, with an average monthly temperature of 103.2 degrees Fahrenheit (39.5 degrees Celsius).
Read Also: <a href="https://www.benzinga.com//node/39804299">Scorching Heat Breaks Records, But 2024 Election Outcome May Hold Worker Protections Hostage</a>
<h1 class="wp-block-heading">Rising Temperatures: Stocks To Watch</h1>
The rising temperatures present an opportunity for investors, who might look at companies and sectors expected to grow in an increasingly warm Earth.
Companies producing air-conditioning units are first in line. Rising temperatures <a href="https://www.benzinga.com//node/39463207">will increase the need for air conditioning</a>. Companies in this sector may also see an increase in sales due to worsening air quality in major urban centers.
Valued at $138 billion in 2022, the air-conditioner market is expected to grow to $253 billion by 2031, according to a report by SkyQuest. This includes an average yearly growth of almost 7% between 2024 and 2031.
In North America, the total market for air-conditioners currently stands at $24.6 billion and is expected to reach $35.6 billion in 2030, as per a GrandView Research report.
<ul>
<li>Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares recovered this week from <a href="https://www.benzinga.com/news/24/08/40169330/nvidia-microsoft-apple-amazon-erase-1-1-trillion-in-monday-sell-off-bubble-burst-or-market-correctio">the recent stock sell-off</a> and are up 17% in the last six months.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) is one of the largest producers of air-conditioners. Its shares have underperformed the market in recent periods although the company leads about 25% of the home appliance market in the U.S. In June, German appliance maker Bosch <a href="https://www.benzinga.com/markets/equities/24/06/39532615/bosch-bid-hype-fades-but-analyst-sees-whirlpools-potential">revealed interest in acquiring Whirlpool</a>, though a bid has not been confirmed. The company is down 10.7% on the month.</li>
<li>Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) is trading at a discount. The company recovered 4.7% on Thursday after experiencing a 10.9% drop since August began.</li>
</ul>
Companies producing weather insulation for residential and commercial buildings also stand to grow from rising temperatures.
Some of the largest public companies in this business include Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), TopBuild Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>) and Beacon Roofing Supply Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>).
An indirect consequence of global warming is a shift in consumer preferences towards non-emitting sources of energy, as greenhouse gas emissions from fossil fuels represent some of the largest contributors to global warming.
There are several ETFs following the green energy sector.
<ul>
<li>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) has performed poorly since January, down over 9% year-to-date.</li>
<li>First Trust NASDAQ Cln Edge Smart Grid Infra Ix Fd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) yielded much better performance and is up 9.5% since January.</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) is down 22.8% since January.</li>
</ul>
Individual companies in the clean energy sector have performed better in recent times than some of its ETFs.
<ul>
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) is up 48.7% in the last six months.</li>
<li>GE Vernova Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), a recent spin-off from General Electric, went public in March and its stock is up 34% since then.</li>
<li>Constellation Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) has been one of the best performers in the clean energy sector, up 61% since January.</li>
</ul>
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This image was created using the artificial intelligence Midjourney.

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Stocks To Buy As World Temperatures Rise: July 2024 Was The Hottest Month Ever For Some Regions

Enphase Energy, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares are trading higher today. The company introduced its new North American Charging Standard (NACS) connectors for<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40249721/enphase-energy-introduces-nacs-connectors-for-iq-ev-chargers-in-the-united-states-and-canada" rel="noreferrer noopener"> its entire IQ EV Charger lineup</a>.
These NACS connectors have recently become the industry standard, gaining acceptance from several major electric vehicle (EV) manufacturers.
Notably, Enphase introduced its IQ EV Chargers last year with J1772 connectors. The new IQ EV Chargers, now featuring NACS connectors, will enhance vehicle compatibility while retaining all existing features.
Enphase IQ EV Chargers with NACS connectors are compatible with NACS-enabled EVs.
John Black, owner of Black Platinum Solar &amp; Electric, an installer of Enphase products in Arizona said, &#8220;The IQ 80 EV Charger is the highest power NACS charger in the market that we&#8217;re aware of, and the reliability and 5-year warranty make it a great long-term investment.&#8221;
&#8220;The fact that homeowners can charge from Enphase solar energy systems is great for customers looking to better manage their electricity bills and reduce charging from fossil fuels. It&#8217;s not just about charging; it&#8217;s about enhancing the entire EV experience.&#8221;
Last month, Enphase Energy missed analyst estimates on the top and bottom lines, with Q2 revenue of&nbsp;$303.46 million vs.&nbsp;estimates of $309.67 million and EPS of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39934603/whats-going-on-with-enphase-energy-stock-wednesday" rel="noreferrer noopener">$0.43 vs. estimates of $0.48</a>.
Investors can gain exposure to the stock via&nbsp;Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and&nbsp;Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Price Action: ENPH shares are up 4.77% at $108.35 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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RAYS

Enphase Boosts EV Charger Game with NACS Connectors For IQ EV Chargers, Says Compatible With Tesla

SolarEdge Technologies, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) shares are trading lower after it reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40232435/solaredge-announces-second-quarter-2024-financial-results" rel="noreferrer noopener">second-quarter&nbsp;FY24 results</a>.
Revenues of&nbsp;$265.4 million, beating the consensus of&nbsp;$262.3 million. Revenues from the solar segment stood at&nbsp;$241.2 million, down&nbsp;75% Y/Y, in the quarter.
Adjusted gross margin&nbsp;was 0.2% versus 32.7%&nbsp;in the prior year quarter. Adjusted operating loss stood at&nbsp;$114.3&nbsp;million versus an adjusted operating income of&nbsp;$191.0 million&nbsp;in the same quarter last year.
Adjusted EPS loss of&nbsp;$1.79&nbsp;missed<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> the consensus loss of&nbsp;$1.58</a>.
Operating cash flow was negative&nbsp;$44.8&nbsp;million in the quarter. As of June 30, 2024, cash, cash equivalents, bank deposits, restricted bank deposits, and marketable securities&nbsp;totaled&nbsp;$165.3&nbsp;million, net of debt.
In the&nbsp;second quarter&nbsp;of 2024, the company bought back 247,468 shares worth around&nbsp;$17 million.
Outlook: For&nbsp;the&nbsp;third quarter, the company sees revenue of&nbsp;$260 million-$290 million (vs.&nbsp;consensus of&nbsp;$359.93 million), revenues from the solar segment of&nbsp;$245 million-$280 million, and adjusted gross margin <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">of&nbsp;negative 3% to positive 1%</a>.
Zvi Lando, Chief Executive Officer of SolarEdge said, &#8220;While we expect undershipping to continue in the third quarter, we believe the momentum in our underlying business and the actions we are taking to gain market share and address new growth segments will enable a return to higher revenue levels once inventories are cleared in the first half of 2025.&#8221;
Last month, SolarEdge Technologies laid off 400 employees, with 200 cuts in Israel, due to a <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39774515/solaredge-cuts-400-more-jobs-in-2024-navigating-market-woes-and-inventory-challenges" rel="noreferrer noopener">market downturn and excess inventory</a>.
Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and&nbsp;Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39485177/solaredge-stock-falls-as-analysts-react-to-300-million-private-offering" rel="noreferrer noopener">SolarEdge Stock Falls As Analysts React To $300 Million Private Offering</a>
Price Action: SEDG shares are down 19.4% at $19.03 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Andreas from Pixabay
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Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a target="_blank" href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!

Guidance

Solar Industry Headwinds Hit SolarEdge Hard: Q2 Results Disappoint

The Biden administration&#8217;s doubling of the U.S. tariff on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39030415/why-first-solar-is-a-must-watch-stock-in-the-ai-era">Chinese solar panels </a>is key to protecting the domestic market from China&#8217;s predatory behavior, says Mark Widmar, CEO of First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>).
First Solar is expected to report second-quarter earnings after Tuesday&#8217;s market close, more than two months after the Biden administration announced that the tariff on Chinese solar panels would increase to 50%.
&#8220;What we&#8217;re trying to do is make sure that we have a level playing field so that all U.S. companies who manufacture here in the U.S. have an opportunity to compete on their own merits,&#8221; Widmar said on Monday during an <a href="https://www.msn.com/en-us/money/markets/first-solar-ceo-mark-widmar-latest-us-tariffs-on-china-creates-level-playing-field/vi-BB1qPATo">interview</a> with CNBC.
&#8220;This is just one of many tools that&#8217;s already part of the overall policy environment that we think is instrumental to ensure that there&#8217;s a level playing field and there&#8217;s opportunities for cycles of innovation to happen here in the U.S. and ultimately support of long term energy independence and security.&#8221;
China is flooding solar panel markets in the U.S. and other countries with less expensive panels because it has an oversupply that is four times the demand in its own country, he said.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40016174/justin-sun-urges-china-to-reconsider-crypto-policies-as-donald-trump-promises-bitcoin-stoc">Justin Sun Urges China To Reconsider Crypto Policies As Donald Trump Promises Bitcoin Stockpile</a>
&#8220;Right now, they&#8217;re dumping that product into international markets and doing that is creating an unfair competitive advantage and devastating others that are trying to compete and create self-sufficiency around this emerging technology that we think we need here in the U.S. and other markets,&#8221; Widmar said.
&#8220;Someone has to step back and reflect upon what China&#8217;s predatory behavior is doing.&#8221;
The U.S. has a bloated inventory of more than 30 gigawatts of solar panels, in great part due to China &#8220;dumping&#8221; solar panels into the U.S. market, Widmar said.
Beijing is trying to correct China&#8217;s oversupply of solar panels, but it should not do that at the expense of other countries, he added.
&#8220;Our view is if China wants to destroy its own industry let it do that on their own accord,&#8221; Widmar said.
&#8220;Let&#8217;s not paint that into the U.S. market.&#8221;
Price Action: Shares of First Solar fell 2.80% to $220.40 on Monday, as did a majority of the exchange-traded funds that hold the stock.
<ul>
<li>Global X CleanTech ETF (NASAQ: CTEC) slipped 2.05%.</li>
<li>Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>) declined 2.91%.</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) dropped 2.41%.</li>
<li>Virtus Duff &amp; Phelps Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCLN#NYSE">VCLN</a>) gained 1.83%.</li>
<li>IShares Global Clean Energy ETF NASDAQ: ICLN) went down 0.85%.</li>
</ul>
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</ul>
Image created using artificial intelligence via Midjourney.

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