S&P 500 reaches record high thanks to Netflix results and AI investment plan
Wall Street indexes rose Wednesday. The benchmark S&P 500 hit a record during the session as investors cheered the quarterly report from streaming video provider Netflix and technology shares rallied after President Donald Trump's announcement of a private sector artificial intelligence infrastructure plan. The S&P 500 index's 11 main industry sectors were led by the technology sector, which saw a big boost from AI chip leaders Nvidia and Microsoft. The day after Trump's announcement, investors piled up bets on the promise of AI.
S&P 500 reaches record highs on Netflix results and AI investment plans
Wall Street's major indexes rose Wednesday. The benchmark S&P 500 hit a record high as investors cheered the quarterly report from streaming video provider Netflix and technology shares rallied following the announcement of an artificial intelligence infrastructure plan for the private sector. Data pointing to an economy in which inflation is cooling and President Donald Trump's less aggressive approach to tariffs than expected have boosted risk appetites. Netflix, the S&P 500’s largest percentage gainer, posted a 9.8% increase after reporting a record number for holiday quarter subscribers.
Stocks of global industrial and tech companies rally after Trump's AI investment drive
On Wednesday, global industrial and technology shares including Oracle and Schneider Electric rose after U.S. president Donald Trump announced a massive investment push in artificial intelligence. Trump announced on Tuesday that the private sector would invest up to $500 billion in AI infrastructure. This announcement sparked interest in stocks which help to build the architecture of the technology. Oracle, one company involved in this effort, rose more than 9,5% in early U.S. market trading. AI-related firms in the U.S., including chip giant Nvidia, Broadcom, and Arm, gained between 2% to 6.5%.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth. The increased output in Egypt coincides with a decrease in production in Europe of the same commodities.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth. The increased output in Egypt coincides with a decrease in production in Europe of the same commodities.
China's carbon power will rise in 2024, surpassing expectations that coal would peak
Official data released on Friday showed that China's thermal power generation, which is mainly coal-powered, increased by 1.5% between 2024 and 2025. This was contrary to expectations, as coal generation had been expected to peak. However, growth has slowed down, reaching its lowest level in nine years, excluding years during the COVID-19 epidemic. The data revealed the difficulties in eliminating coal-fired energy while still meeting China's growing demand for electricity to power its energy-hungry industry and electrify its economy.
Oil Dips on Larger US Crude Draw, Russia Sanctions
Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest sanctions targeting Russia and a larger than forecast fall in U.S. crude stocks.Brent crude futures were down 12 cents, or 0.15%, to $81.91 per barrel at 1415 GMT, after rising 2.6% in the previous session to their highest since July 26.U.S. West Texas Intermediate crude futures were down 18 cents, or 0.22%, to $79.86 a barrel, after gaining 3.3% on Wednesday to their…
Daphne Technology, Williams win DOE Grant for MERP Efforts
Daphne Technology, in partnership with Williams, announced the award of a grant worth nearly $6M from the U.S. Department of Energy's (DOE) Methane Emissions Reduction Program (MERP).This project, titled the "Daphne and Williams Methane Slip Abatement Plasma-Catalyst Scale-Up", highlights the critical role of innovative technologies in reducing methane emissions.As part of this collaboration, Daphne Technology and Williams will leverage their combined expertise to advance methane abatement technologies that align with MERP's goals.
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Prime Minister of Moldova's pro European central government, said that Russia is determined to bring a Moscow friendly government into power in the country. He said that Moscow was likely to provide only a small amount of gas to guarantee electricity to both the rebel-held and government-held regions. Since January 1, Russia's Gazprom has suspended gas exports into the region.
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Since January 1, when Russia's Gazprom stopped gas exports into the region, Chisinau has refused to recognize the debt Moldova owes Gazprom of $709,000,000 as valid. Moscow has blamed the suspension of gas supply on pro-Western Moldova, and Ukraine. They refused to extend the five-year transit agreement that expired on December 31 because the proceeds were used to fund Russia's invasion.
EIA: US power consumption will reach new highs by 2025 and 26.
The Short Term Energy Outlook, published by the Energy Information Administration on Tuesday, predicted that U.S. electricity consumption would reach record levels in 2025 and in 2026. EIA projects that the demand for electricity will increase to 4,175 billions kWh by 2025, and 4,252 trillions kWh by 2026. This is a significant increase from the 4,089 billions kilowatt hours (kWh) recorded in 2024. EIA predicts that by 2025, residential customers will consume 1,519 billion kWh of electricity. Commercial customers will consume 1,457 trillion kWh and industrial customers 1,056 trillion kWh.
Toronto stock market edge higher as mining shares rise
The main Canadian stock index closed higher on Thursday. Metal mining shares led the way, but gains were limited. Investors awaited the employment data from both sides of border, and prepared for a potentially volatile financial year. The S&P/TSX Composite Index ended the day up 21,68 points or 0.1% at 25,073.36, adding on to yesterday's gains. The trading volume was lower than usual due to the U.S. Stock Market being closed on a day of national mourning in honor of the former President Jimmy Carter. Elvis Picardo is the portfolio manager of Luft Financial, iA Private Wealth.
CME copper reaches two-month highs; focus on US tariffs
The COMEX copper prices rose to two-month-highs on Thursday, as the market tried to discount the possibility of hefty tariffs being imposed on U.S. imported goods after Donald Trump becomes president-elect in the United States later this month. The industrial metal prices on COMEX (part of CME Group) hit $4.285, or $9.446.82 per metric ton. This is the highest price since November 11, when Trump won the U.S. elections and floated import duties. The contract last rose 1.0% to $4.2795. The London Metal Exchange's (LME) copper contract has a premium of around $400 per ton, up from near zero in 2025.
Canadian Natural Resources will increase production and spending by 2025
Canadian Natural Resources announced on Thursday that it expects to see production increase by 12%, and capital expenditures rise by 13.5% in 2025. The company is betting on an increased demand due to tight oil supply. Canadian oil producers are projecting higher production in 2025. They bet on the resilient demand for Canadian crude oil on international markets. According to the U.S. Energy Information Administration, fuel demand in the United States will increase in 2025, as the industrial sector is expected to benefit from a reduction in borrowing rates.
Alaska sues Biden Administration over ANWR Leases
The U.S. state of Alaska has sued the Biden administration for what it calls violations of a Congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge (ANWR).Monday's lawsuit in the U.S. District Court in Alaska challenges the federal government's December 2024 decision to offer oil and gas drilling leases in an area known as the coastal plain with restrictions.The lawsuit said curbs on surface use and occupancy make it "impossible or impracticable to develop" 400,000 acres (162,000 hectares) of land the U.S.
Biden Team wraps up expanded Clean Energy Credit Guidance
The Biden Administration released Tuesday guidance to assist companies in securing clean energy tax credits as part of the 2022 Inflation reduction Act. This program finalized a program that extends subsidies previously available for solar and wind to other low-carbon sources. This move is a part of the actions taken by outgoing president Joe Biden to support his administration's efforts to combat climate change. The move could be vulnerable when President-elect Donald Trump assumes office in the coming weeks on a platform that emphasizes cutting spending and maximising fossil fuel production.
Market uncertainty caused by Indonesian B40 palm oil delays
Indonesia is yet to implement the higher blend of biodiesel that was planned for January 1, as industry participants are awaiting technical details of the regulation. This has caused confusion among palm oil dealers. The government pledged that it would mandate a 40% blend of palm oil in biodiesel starting Jan. 1. This is known as B40. It will replace the current 35% blend. The benchmark March palm oil contract on the Bursa Derivatives Market closed at 4,336 Ringgit ($968.72), down 2.5%, amid uncertainty over B40 implementation.
The industry in the breakaway Moldovan region shuts down due to lack of Russian gas
An official confirmed on Thursday that the cutoff of Russian gas supply to Moldova's Transdniestria region, which is a breakaway region of Moldova, has forced all industrial companies - except for food producers - to close. The Russian gas cutoff to Central and Eastern Europe through Ukraine on Wednesday has caused a severe and immediate impact on the mainly Russian-speaking region of 450,000 people that split off from Moldova during the Soviet Union's collapse in the 1990s. Sergei Obolonik told a local channel that "all industrial enterprises were idle except those involved in food production…
Japan plans to reduce greenhouse gas emissions by 60% compared to 2013 levels by 2035
The Japanese environment and industry ministers finalised on Tuesday a plan that will cut greenhouse gas emissions (GHG) by 60% compared to 2013 levels by the year 2035. This is an increase from their 2030 goal of 46%. Officials said that states could achieve this goal even if Donald Trump, the president-elect, reverses federal policy. In November, Japanese Ministries unveiled a draft Plan aiming to reduce GHG by 60% by fiscal 2035, and 73% by Fiscal 2040. The plan is based on an linear trajectory from Japan's current goal of a reduction of 46% by 2030, and reaching net zero by the year 2050.
DOE-backed report: U.S. data centers' power consumption could triple by 2028
According to a Department of Energy report, the U.S. power consumption for data centers could triple within three years and account for 12% of all electricity consumed in the United States. The Lawrence Berkeley National Laboratory's report is due to be released this Friday. It comes as the U.S. government and power industry are trying to figure out how the sudden increase in data center demand by Big Tech will impact electrical grids, electricity bills, and climate change. According to a Berkeley Lab report…
