iShares Global Clean Energy ETF (NASDAQ: ICLN)

最新ニュース iShares Global Clean Energy ETF (NASDAQ:ICLN)

iShares Global Clean Energy ETF

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The Fund seeks to track the investment results of the S&P Global Clean Energy Index. which is designed to track the performance of approximately 100 clean energy-related companies. The Underlying Index is a subset of the S&P Global Broad Market Index and includes stocks traded on developed and emerging market exchanges which meet or exceed, at the time of inclusion, dollar 300 million in total market capitalization, dollar 100 million in float- adjusted market capitalization, and Dollar 3 million median daily value traded over a six‘month period (or dollar 2 million for existing constituents)

Enphase Energy Inc Common Stock

First Solar Inc

Consolidated Edison Inc.

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Vestas Wind Systems A/S

China Yangtze Power Co Ltd

Edp - Energias De Portugal Sa

Chubu Electric Power Co Inc

Suzlon Energy Ltd

The COP29 climate summit in Baku, Azerbaijan, concluded yesterday with an agreement to provide $300 billion annually to developing nations by 2035, helping to mitigate and adapt to the impacts of <a href="https://www.benzinga.com/topic/climate-change">climate change</a>. While hailed as progress to the <a href="https://www.benzinga.com/news/global/24/11/41925800/urgency-debate-mark-cop29-as-leaders-push-for-carbon-market-rules-worry-about-trump">previous $100 billion commitment</a>, the sum fell short of the $1.3 trillion initially identified as necessary to address the crisis.
&#8220;Without more substantial financing, many vulnerable countries will remain underprepared for escalating climate challenges,&#8221;<a href="https://www.wri.org/news/statement-cop29-finance-deal-downpayment-safer-more-equitable-future"> said</a> Ani Dasgupta, CEO of the World Resources Institute.
The agreement has drawn mixed reactions. Per BBC, India<a href="https://www.bbc.com/news/articles/cd0gx4przejo"> criticized</a> the deal as a "paltry sum," while Nigeria labeled it a "joke." Delegates from the Marshall Islands expressed disappointment, describing the funding as woefully inadequate, yet acknowledged it as a starting point.
Meanwhile, wildlife conservation organization WWF expressed concern, calling the deal far below the ambition needed.
"The world has been let down by this weak climate finance deal. This is a serious blow to climate action, but it must not stall the solutions that are desperately needed around the world,"<a href="https://wwf.panda.org/wwf_news/press_releases/?12844466/COP29-outcome"> said</a> WWF Global Climate and Energy Lead and COP20 President Manuel Pulgar-Vidal.
The world remains on track for a temperature rise of 3.1°C by the century&#8217;s end. That&#8217;s far above the Paris Agreement&#8217;s goal of limiting warming to 1.5°C, according to<a href="https://news.un.org/en/story/2024/10/1156071"> recent</a> UN reports.
Under the 1992 UN Framework Convention on Climate Change, 23 developed nations and the European Union must contribute to climate finance. The agreement also encourages private investment and contributions from institutions like the World Bank to meet the funding targets. The funds will support adaptation efforts. That includes building flood-resistant infrastructure and sustainable agriculture and facilitating a transition to renewable energy in developing nations.
Additionally, the summit finalized rules for a global carbon market. This system will allow companies to offset emissions by purchasing credits linked to reforestation and renewable energy initiatives. These efforts aim to accelerate the implementation of Nationally Determined Contributions (NDCs), with countries required to update their climate action plans by February 2025.
President Joe Biden<a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/23/statement-from-president-joe-biden-on-conclusion-of-cop29-conference-in-baku-azerbaijan/"> called</a> the agreement "an essential step toward mobilizing funds to combat the climate crisis" while acknowledging the work ahead. However, President-elect Donald Trump's return raises doubt over the future of U.S. involvement, particularly given his previous withdrawal from the Paris Agreement.
The Brazilian city of Belém will host the next summit, COP30, in November 2025. Brazilian officials have promised a high-stakes event they call the "COP of COPs," focusing on limiting global warming to 1.5°C.
iShares Global  Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) rose following the news. At 12:45 pm EST, it was trading 1.83% higher at $12.34.
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iShares S&P Global Clean Energy Index Fund

ICLN

$300 Billion 'Joke': COP29 Reps Scoff At 'Paltry Sum' For Climate Change

The Conference of the Parties (COP) 29 summit brought global leaders to Baku, Azerbaijan, for an 11-day session to address climate change, carbon market mechanisms and <a href="https://www.benzinga.com/topic/green-energy">climate finance</a>.
Hosted in a country heavily reliant on fossil fuels, the event is a mix of urgency and controversy, particularly after BBC<a href="https://www.bbc.com/news/articles/crmzvdn9e18o"> reported</a> local representatives engaging in oil and gas deals.
Still, the primary focus of its first days is establishing the rules for a global carbon market — a move aimed at helping countries meet emissions targets by trading carbon credits.
This mechanism, intended to fund projects that reduce emissions globally, allows wealthy countries to purchase credits from those with lower emissions, thus offsetting their carbon output.
The stakes are high at COP29, particularly with pressing issues such as funding for climate-vulnerable countries and updating climate targets. The attendees will discuss the succession of the annual $100 billion pledged by developing nations, as the sum may need to be raised significantly to account for the <a href="https://www.benzinga.com/markets/esg/24/10/41621596/net-zero-by-2050-might-cost-the-world-78-trillion-wood-mackenzie-estimates">increasing impact of climate change</a>. This finance component is critical for maintaining trust between rich and poor nations, especially as commitments still need to be met.
"I'm as frustrated as anyone that one single COP can't deliver the full transformation that every nation needs… [but] it is here that parties need to agree a way out of this mess. That's why here in Baku, we must agree on a new global climate finance goal,"<a href="https://unsdg.un.org/latest/stories/ambitious-new-climate-finance-goal-entirely-self-interest-every-single-nation-un"> said</a> the U.N. climate chief Simon Stiell.
The upcoming inauguration of U.S. President-elect Donald Trump in January 2025 gives participants a dose of doubt. During his previous term, Trump withdrew the U.S. from the Paris Agreement and rolled back numerous environmental regulations.
Analysts anticipate a similar approach, potentially hindering U.S. contributions to global climate finance. Trump's return could <a href="https://www.benzinga.com/news/24/11/41883635/trump-looks-to-undo-biden-climate-progress-with-burgum-as-energy-czar-report">exacerbate tensions</a>, mainly as he has been vocal about downplaying climate initiatives.
Still, greenlighting the carbon credit quality standards on the first day provides an opportunity for a U.N.-backed global carbon market that would fund critical projects.
Juan Carlos Arredondo Brun, a former climate negotiator for Mexico and now a director at a carbon market data company Abatable, noted this development &#8220;will bring us closer to operationalizing the carbon market before any single party may decide to move away from the Paris Agreement,"<a href="https://www.reuters.com/markets/commodities/cop29-countries-endorse-global-carbon-market-framework-2024-11-11/"> per</a> Reuter's report.
The carbon market, increasingly popular among corporations seeking to offset their emissions, has some of the largest buyers in the energy and automotive sectors. Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), Volkswagen (OTCPK: VWAGY), and Takeda (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) were the top three companies retiring carbon credits in 2023.
Shell led with 16 million credits, primarily from forestry projects, while Volkswagen retired eight million credits linked to renewable energy and reforestation. Pharmaceutical giant Takeda contributed nearly three million credits to reduce non-CO2 greenhouse gases.
A standardized carbon market could be a lifeline for U.S. companies committed to carbon-emission goals. Notable examples include Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), which is delaying the launch of a next-generation all-electric pickup truck and has <a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand">scrapped the development</a> of a new three-row electric SUV. Yet, the management has confirmed it will seek to comply with emissions targets, including purchasing carbon credits as needed.
The COP29 conference will run until Nov. 22. Setting a new annual budget could significantly impact clean energy investments. Investors should watch iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) and sub-sector ETFs like the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and First Trust Global Wind Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAN#NYSE">FAN</a>).
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</ul>
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SHEL

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Urgency, Debate Mark COP29 As Leaders Push For Carbon Market Rules, Worry About Trump

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.
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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.
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</ul>
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Republican Win Likely To Lift Magnificent 7 Stocks, Democratic Sweep 'Better For Bonds,' Says WisdomTree

The world might be late to achieve its climate goals by 2030, but meeting the 2050 net-zero emissions deadline might come with a hefty price tag. According to the latest Wood Mackenzie Energy Transition Outlook, a <a target="_blank" href="https://www.benzinga.com/topic/green-energy" rel="noreferrer noopener">green energy transition</a> might cost as much as $3.5 trillion annually or $78 trillion in total.
The <a target="_blank" href="https://www.woodmac.com/press-releases/2024-press-releases/decisive-action-needed-to-achieve-net-zero-by-2050-as-world-is-currently-on-path-for-2.5-c-to-3-c-global-warming/" rel="noreferrer noopener">report</a> presents four pathways for transitioning the energy and natural resources sector toward a low-carbon future: the base case (2.5°C warming), country pledges (2°C), a net-zero 2050 scenario (1.5°C), and a delayed transition (3°C).
The firm sees global energy demand rising, driven by rising income, population growth, and new power demands, such as data centers and electric vehicles.
These developments require substantial investments in power supply, grid infrastructure, and critical minerals—each integral to sustaining renewable energy sources and supporting the energy transition.
To stay on track with the 1.5°C pathway, renewable capacity must more than triple by 2030, an ambitious goal given the current pace of renewables expansion.
"Despite strong growth in renewables, the transition has been slower than expected in certain areas because many low-carbon technologies are not yet mature, scalable, or affordable," said Wood Mackenzie's VP Prakash Sharma.
Renewables play a critical role in all scenarios. Solar, wind, and other clean energy sources are projected to rise from 41% of the power supply today to 90% by 2050.
However, they face supply chain challenges, regulatory hurdles, and the need for vast amounts of metals like lithium, nickel, and cobalt. Meeting the commodity needs adds additional complexity owing to geopolitical issues and slow mining development.
iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>), which tracks around 100 clean energy-related companies, is down 16.12% year-to-date.
Oil and gas are expected to remain in the global energy mix until 2050, though the scale of reliance varies across pathways.
In a delayed transition, where low-carbon technology costs fall slowly, oil and gas demand stays high, peaking at around 106 million barrels per day by 2030 and remaining substantial until 2047. However, in a net-zero pathway, oil demand would rapidly decline to about 32 million barrels daily by 2050.
To achieve the net-zero pathway, governments must enact strong policies, such as carbon pricing, regulatory streamlining, and incentives for technologies like carbon capture and hydrogen. Furthermore, reassessing the nationally determined contributions (NDCs) in 2025 will be discussed at the COP29 meeting in Azerbaijan next month.
"Strengthened NDCs and global cooperation will be crucial to mobilize US$3.5 trillion annual investment into low-carbon energy supply and infrastructure, including critical minerals. If these challenges can't be overcome, the goal of net zero emissions by 2050 will not be achieved," Sharma warned.
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Net Zero By 2050 Might Cost The World $78 Trillion, Wood Mackenzie Estimates

In a recent study, researchers have suggested that Arkansas could potentially hold a significant amount of lithium, a crucial component for electric car batteries and other high-tech products.
What Happened: The researchers, in a study published in the journal Science Advances, have estimated that there could be between 5.1 to 19 million tons of lithium in the Smackover Formation brines in southern Arkansas, <a href="https://thehill.com/policy/energy-environment/4945872-arkansas-19-million-tons-lithium-battery-power/">reported</a> The Hill. This amount could potentially make up 35 to 136% of the current U.S. lithium resource estimate.
The researchers used a machine-learning model trained on published and newly collected brine lithium concentration data to create a map of predicted lithium concentrations in Smackover Formation brines across southern Arkansas.
Lithium ETFs offer a way to diversify your investments across multiple companies poised to benefit from the growing demand for lithium. 
Some of the top lithium ETFs to consider include the Global X Lithium &amp; Battery Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIT#NYSE">LIT</a>), Amplify Lithium and Battery Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATT#NYSE">BATT</a>), First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQGM:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQGM">QCLN</a>), iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>), and the VanEck Vectors Rare Earth/Strategic Metals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REMX#NYSE">REMX</a>).
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41422633/investors-lost-over-95-of-their-wealth-in-this-nvidia-linked-etf-while-jensen-huang-led-chip-gia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Lost Over 95% Of Their Wealth In This Nvidia-Linked ETF While Jensen Huang-Led Chip Giant Gained 220% In The Past Year: Here&#8217;s More</a>
Why It Matters: Automakers and tech companies are scrambling to <a href="https://www.benzinga.com/markets/equities/24/10/41360023/lithium-americas-shares-surge-as-gm-commits-625m-to-thacker-pass-project">secure their lithium supplies</a>, with some even investing in mining projects, such as General Motors&#8216; joint venture with Lithium Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) for the Thacker Pass lithium project in Nevada.
Meanwhile, in Europe, the Serbian parliament&#8217;s decision <a href="https://www.benzinga.com/government/24/10/41289306/serbian-parliament-doesnt-pass-lithium-ban-keeps-rio-tintos-major-project-alive">not to ban lithium exploration and exploitation</a> has kept Rio Tinto&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) major Jadar project alive. 
In January, Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) revealed its <a href="https://www.benzinga.com/top-stories/24/02/37188987/interesting-elon-musk-captivated-by-microsofts-70-lithium-reduced-battery-innovation">collaboration with a U.S. national laboratory</a> to create an innovative battery material that decreases lithium consumption by 70%, attracting interest from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk.
Moreover, in July 2022 Musk tweeted that &#8220;lithium batteries are the new oil,&#8221; responding to Craft Ventures co-founder David Sacks&#8216; comments about the importance of <a href="https://www.benzinga.com/trading-ideas/movers/22/07/28056987/elon-musk-says-this-battery-metal-is-the-new-oil-but-should-the-vehicle-connoisseur-take-his">energy independence amid oil challenges</a> from Russia&#8217;s invasion of Ukraine. 
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Arkansas May Be Sitting On 19M Tons Of Lithium Amid Rising Demand For EV Batteries: How To Invest In What Elon Musk Calls 'The New Oil'

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: 
<ul>
<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.

Government

ENPH

VWDRY

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

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:
<ul>
<li><a href="https://www.benzinga.com//node/40359364">Bill Gates, Jeff Bezos, And Jack Ma-Backed Breakthrough Energy Ventures Nears $1B Goal For Climate-Focused Fund</a></li>
</ul>

ARCH

COAL

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

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been riding a wave of mixed fortunes in 2024. The electric vehicle giant is down more than 19% year-to-date, but recent gains of about 3% over the last month <a href="https://www.benzinga.com/electric-vehicles">have offered some respite</a>.
The company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">second-quarter earnings report</a> on July 23 brought a glimmer of hope. Revenue hovered at around $25.5 billion — a modest 2% increase year-over-year — beating Wall Street&#8217;s expectations of $24.73 billion, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1">Benzinga Pro</a>.
However, Tesla&#8217;s earnings per share (EPS) told a different story, falling 43% year-over-year to 52 cents. They missed the Street&#8217;s consensus estimate of 62 cents. Despite the earnings miss, the stock found a technical lifeline, forming a Golden Cross on July 29.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140251/Screenshot-2024-08-14-at-11.15.22-PM.png" alt="" class="wp-image-495388" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140251/Screenshot-2024-08-14-at-11.15.22-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140251/Screenshot-2024-08-14-at-11.15.22-PM-300x218.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
A Golden Cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a potential bullish trend. This pattern has sparked optimism among investors, suggesting Tesla could be poised for a rebound.
While Tesla is basking in the glow of its Golden Cross, the broader clean energy sector isn&#8217;t faring as well.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40372401/tesla-fsd-test-drive-terrifies-analysts-son-third-time-not-the-charm">Tesla FSD Test Drive Terrifies Analyst&#8217;s Son: &#8216;Third Time Not The Charm&#8217;</a>
Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), a leader in energy management technology, is down 15.69% YTD and teetering on the brink of a Death Cross.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140330/Screenshot-2024-08-14-at-11.16.39-PM.png" alt="" class="wp-image-495389" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140330/Screenshot-2024-08-14-at-11.16.39-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140330/Screenshot-2024-08-14-at-11.16.39-PM-300x218.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
This bearish signal, where the 50-day moving average falls below the 200-day moving average, indicates potential further declines.
Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>), another key player in the EV space, is also struggling. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140359/Screenshot-2024-08-14-at-11.17.05-PM.png" alt="" class="wp-image-495392" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140359/Screenshot-2024-08-14-at-11.17.05-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140359/Screenshot-2024-08-14-at-11.17.05-PM-300x218.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
With its stock down 35.49% YTD, Blink is rapidly approaching a Death Cross, casting a shadow over its short-term prospects.
The iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>), which tracks the performance of clean energy companies worldwide, has already succumbed to a Death Cross, reflecting the sector&#8217;s broader struggles.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140426/Screenshot-2024-08-14-at-11.17.18-PM.png" alt="" class="wp-image-495393" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140426/Screenshot-2024-08-14-at-11.17.18-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/14140426/Screenshot-2024-08-14-at-11.17.18-PM-300x218.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The ETF is down 8.54% YTD, signaling that clean energy stocks face an uphill battle despite Tesla&#8217;s technical rebound.
As Tesla powers up with its Golden Cross, clean energy stocks remain stuck in a Death Cross rut, highlighting the sector&#8217;s contrasting fortunes.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39930522/clean-tech-titans-can-enovix-chargepoint-archer-joby-defy-the-doubters">Clean Tech Titans: Can Enovix, ChargePoint, Archer, Joby Defy The Doubters?</a></li>
</ul>

Technicals

BLNK

Tesla Powers Up, But Clean Energy Stocks Are Stuck In Death Cross Rut

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>
Now Read:&nbsp;
<ul>
<li><a href="https://www.benzinga.com//node/40095631">Researchers Identify &#8216;Trump Dump&#8217; Effect: Ex-President Is Already Causing Deep Stock Losses In Companies And Industries He Targets</a></li>
</ul>
This image was created using the artificial intelligence Midjourney.

General

BECN

CARR

FSLR

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

The stock market is experiencing a significant downturn, which researchers attribute to the actions and statements of former President Donald Trump. The phenomenon dubbed as the <a href="https://www.benzinga.com/podcasts/pmp-id821/the-trump-dump">&#8220;Trump Dump&#8221;</a> effect, has been linked to the former president&#8217;s public criticisms of specific companies and sectors.
What Happened: In an <a href="https://fortune.com/2024/07/30/trump-dump-stocks-targets-crashing-markets-finance-politics">op-ed</a> for Fortune, a group of researchers, including Jeffrey Sonnenfeld, Whitney Tilson, and Steven Tian, have identified a pattern of stock market declines following Trump&#8217;s public criticisms.
&#8220;Former President Donald Trump has long regarded the stock market as a barometer for his success, constantly touting record highs during his time in office and still bragging constantly about the &#8216;beautiful&#8217; stock market on his watch,&#8221; the researchers wrote.
&#8220;However, what many commentators miss is not just the 40 record highs the stock market has hit under the Biden-Harris administration—but also that while Trump does hold significant sway over pockets of the stock market, much of his impact is profoundly negative, particularly for individual companies and industries that draw his ire.&#8221;
The ex-president recently triggered a sharp sell-off in the chip sector after he accused Taiwan of usurping the US&#8217;s chip business and proposed they should finance U.S. military protection.
Following Trump&#8217;s remarks, Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) <a href="https://www.benzinga.com/news/24/07/39807774/trump-says-taiwan-should-pay-us-for-defense-ex-presidents-remark-triggers-fall-in-tsmc-shares">witnessed a 17% plunge</a> from mid-July levels. The tech sector also saw a wider sell-off, with the Nasdaq Composite declining around 10% in the days succeeding the interview.
This is not the first time Trump&#8217;s comments have impacted the market. During his first term, Trump&#8217;s remarks led to a drop in Harley-Davidson shares and Delta Airlines stock. The S&amp;P 500 also showed a tendency to decline on days when Trump mentioned &#8220;tariff,&#8221; &#8220;Fed,&#8221; or &#8220;Powell.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/40057554/lindsey-graham-says-jd-vance-will-support-trump-unequivocally-they-will-work-together-to-right-the-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lindsey Graham Says JD Vance Will Support Trump &#8216;Unequivocally&#8217;</a>
The researchers also suggested that Trump&#8217;s criticisms of renewable energy companies could be adversely affecting their performance. The iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) has declined 10% since the beginning of the year.
Why It Matters: The &#8220;Trump Dump&#8221; phenomenon has been a recurring theme in the stock market. Trump&#8217;s influence on specific sectors and companies has been consistently negative, according to the researchers. They also warned that a potential second term for Trump could further destabilize the stock market, citing the potential consequences of his economic policies.
Despite the &#8220;Trump Dump,&#8221; some argue for the existence of the &#8220;Trump trade,&#8221; which suggests that Trump&#8217;s victory in the upcoming election could lead to gains in sectors like real estate, traditional energy, financials, and industrials. However, the researchers noted that gains in these areas have been mostly temporary, often reversing themselves several weeks after the first presidential debate.
Meanwhile, Goldman Sachs analysts suggested that a Trump victory in the 2024 election could <a href="https://www.benzinga.com/markets/equities/24/07/39726239/trump-win-in-november-will-boost-the-stock-market-says-goldman-sachs-but-not-all-sectors-will-be">boost the stock market</a>, particularly in sectors like real estate, traditional energy, financials, and industrials. However, they also noted that not all sectors would benefit equally from a Trump win.
There are also concerns about the potential impact of Trump&#8217;s economic policies on the global economy. Analysts have warned that a second term for Trump could <a href="https://www.benzinga.com/news/24/07/39810934/trumps-second-term-could-trigger-global-inflation-warn-analysts-2024-2025-is-going-to-be-very-differ">trigger global inflation</a>, particularly due to his &#8220;America-first&#8221; policies. Additionally, there are concerns that Trump&#8217;s fiscal policies could <a href="https://www.benzinga.com/news/24/07/39760206/as-trump-promises-to-hold-dollar-steady-expert-warns-his-second-term-could-lead-to-severe-deteriorat">weaken the dollar&#8217;s dominance</a> as the world&#8217;s primary reserve currency.
Trump, at the National Association of Black Journalists conference in Chicago, said &#8220;Elon Musk endorsed me and he is a friend of mine, &#8230; but I am against everybody having an electric car.&#8221; 
Top analyst Dan Ives has also predicted that "a Trump presidency would be an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39727992/tesla-bull-says-trump-win-is-negative-for-ev-industry-but-potential-positive-for-el">overall negative for the EV industry</a> as likely the EV rebates/tax incentives get pulled, however for Tesla we see this as a potential positive.&#8221;
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades?utm_source=BZprocontent080124" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Economics

Researchers Identify 'Trump Dump' Effect: Ex-President Is Already Causing Deep Stock Losses In Companies And Industries He Targets

The Federal Reserve and Federal Open Market Committee are scheduled to announce <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40042583/will-powell-hint-at-september-rate-cut-what-major-us-investment-banks-expect-from">July's interest rate decision</a> at 2 p.m. ET Wednesday. Although the <a href="https://www.benzinga.com/federal-reserve/24/07/40071662/fed-shouldnt-wait-until-september-poll-finds-nearly-half-want-rate-cuts-today">expectations are for the Fed to keep rates unchanged</a>, one analyst is projecting that stock prices will surge following the announcement. CME Group's FedWatch tool, which tracks the probability of Fed decisions on interest rates, shows only a 3% chance the Fed does end up cutting rates by 25 basis points Wednesday afternoon. But <a href="https://www.benzinga.com/topic/tom-lee">Fundstrat's Tom Lee</a> said that he still expects stocks to surge higher following the announcement. The Call: Lee says that while market participants expect interest rates to come down in September, equity traders will not begin pricing that dynamic until the decision is made final. And if Fed Chair Jerome Powell, who will speak at 2:30 p.m. ET Wednesday, confirms the Fed is planning on cutting rates in September, stocks could get a boost. &#8220;The key premise is the Fed is likely to commit to a September rate cut of at least 25bp. A possibility of more than that is not necessary," Lee said in a<a href="https://markets.businessinsider.com/news/stocks/stock-market-prediction-big-rally-sp500-this-week-dovish-fed-2024-7"> note</a> released Wednesday, according to Business Insider. 
"And while bond markets have priced in 100% probability of this, equity investors likely will not be convinced until the Fed affirms this as such.&#8221;
Read Also: <a href="https://www.benzinga.com/federal-reserve/24/07/40071662/fed-shouldnt-wait-until-september-poll-finds-nearly-half-want-rate-cuts-today">Fed Shouldn&#8217;t Wait Until September: Poll Finds Nearly Half Want Rate Cuts Today</a>
What Are The Odds? The FedWatch tool shows a 100% chance the Fed will lower rates at its September meeting, with a .2% chance that rates are reduced by 75 basis points, a 10.1% chance that rates are reduced by 50 basis points and about a 90% chance rates are reduced by 25 basis points. 
Why It Matters: Big tech companies like Microsoft, Apple and others have held up well despite higher interest rates. Other sectors like clean energy, tracked by the iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>), have struggled in a high-interest rate environment, with the ETF trading down more than 8% year-to-date against the S&amp;P 500 tracking ETF&#8217;s gain of more than 16%. 
Read Next: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/07/39846454/exclusive-market-strategist-jay-woods-says-rotation-in-small-caps-is-just-starting-rus">Market Strategist Jay Woods Says &#8216;Rotation In Small Caps Is Just Starting&#8217;: Russell 2000 Within 8% Of All Times, &#8216;Easy Upside Target&#8217;</a>
Illustration created using artificial intelligence via MidJourney.

Federal Reserve

One Analyst Expects Stocks To Soar After The Fed's Interest Rate Decision Wednesday

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>
Read Now: 
<ul>
<li><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></li>
</ul>
Image created using artificial intelligence via Midjourney.

Asia

CTEC

RAYS

VCLN

US Tariff On Chinese Solar Panels Creates 'Level Playing Field,' Says First Solar CEO

Texas has emerged as the United States&#8217; <a href="https://www.benzinga.com/topic/clean-energy">clean-energy powerhouse</a> as future green energy capacity in the Lone Star State far surpasses other states. 
The Data: A <a href="https://x.com/curious_founder/status/1816488340155248653">post</a> on X by Michael Thomas relayed data from the Energy Information Administration.
<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">Over the next 18 months, Texas is expected to build more clean energy than any other state. The state will build twice as much clean energy capacity as the next two states—California and Arizona—combined.<a href="https://t.co/rbMvmsigbt">https://t.co/rbMvmsigbt</a> &#x1f9f5; <a href="https://t.co/i41QEERefm">pic.twitter.com/i41QEERefm</a>
&mdash; Michael Thomas (@curious_founder) <a href="https://twitter.com/curious_founder/status/1816488340155248653?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Texas plans to build 35.6 gigawatts of clean energy capacity in the near future, more than half of which is solar. This is more than the next 10 states combined and double the capacity of the second and third largest: California and Arizona.</figcaption></figure>
The data includes projects that have permits and plans to reach commercial operation in the next 18 months.
Why it Matters: Texas&#8217; <a href="https://www.benzinga.com/markets/esg/24/05/39012502/california-loses-the-solar-crown-whos-americas-new-energy-star">green energy champion status</a> may surprise many observers; its high clean energy capacity is belied by the fact that it is generally defined as a Republican state. Conservative lawmakers have historically criticized green energy in favor of fossil fuels.
The data is unsurprising, though, given Texas&#8217; geography and climate. It is the second-largest <a href="https://www.census.gov/geographies/reference-files/2010/geo/state-area.html">state</a> by area and enjoys high sunlight coverage relative to other states, given its southern location. It is also relatively flat, its topology is favorable for building cheaply. Finally, Northern Texas is an especially windy region of the U.S.
The green energy capacity increase is necessitated by the fact that the state is rapidly growing in population. In addition, many energy-intensive Bitcoin miners <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34368164/bitcoin-miners-hit-pause-in-texas-as-energy-crisis-stalls-operations">operate in the state</a>.
For investors interested in the green energy sector, here are three ETFs to consider:
<ul>
<li>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>)</li>
<li>First Trust NASDAQ Cln Edge Smart Grid Infra Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>)</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>)</li>
</ul>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/07/39985451/tesla-stock-approaches-golden-cross-is-ev-stock-ready-to-accelerate">Tesla Stock Approaches Golden Cross: Is EV Stock Ready To Accelerate?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Everything's Bigger In Texas: Lone Star State Will Build More Clean Energy Than Next 10 States Combined

As the Q2 earnings season approaches, clean tech stocks like Enovix Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) and ChargePoint Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) are catching the spotlight, navigating a landscape fraught with both <a href="https://www.benzinga.com/topic/clean-energy">opportunities and challenges</a>. 
According to JPMorgan analyst Bill Peterson, the sentiment among institutional investors is notably cautious, with &#8220;elevated short interest pervasive across our coverage universe.&#8221; This ambivalence is driven by concerns about company execution and balance sheets, keeping investors on the sidelines until clearer signals emerge.
<h2 class="wp-block-heading">Clean Tech&#8217;s Recent Rally: A Temporary Surge?</h2>
Despite the overall uncertainty, Clean Tech stocks have experienced a notable upswing over the past month, with the sector up 9%. 
However, these stocks remain down 10% year-to-date, highlighting ongoing volatility. The iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) is down 10.61% and the First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) is down 11.44% YTD.
Leading the recent rally, however, are EV charging and advanced batteries, where Enovix and ChargePoint are making significant strides.
<h3 class="wp-block-heading">Enovix</h3>
Peterson states, &#8220;Since 1Q, Overweight-rated ENVX has announced several commercial agreements in the smartphone and mixed reality spaces, providing investors with more evidence of technology validation in consumer electronics.&#8221;
The company&#8217;s strategic moves are bolstered by its plans to scale up production at Fab-2, further appeasing investor concerns. This positive momentum prompted Peterson to raise Enovix&#8217;s price target from $12 to $18.
<h3 class="wp-block-heading">ChargePoint</h3>
ChargePoint, meanwhile, is carving out its position in the EV Charging sector, buoyed by a 9.9% EV/PHEV penetration rate exiting 2Q. Peterson notes, &#8220;Considering the mixed demand environment overall, we think 2Q is unlikely to mark an inflection point for US EV Charging companies, but there will likely be sequential improvement to both top-line and margins with bigger improvements slated for the 2H contingent upon EV demand recovery and cost reduction efforts.&#8221; 
ChargePoint&#8217;s potential reaffirmation of year-end profitability targets could pave the way for a strong second half of 2024, driven by improved demand and cost-cutting measures.
<h2 class="wp-block-heading">eVTOL Stocks: The Patient Investor&#8217;s Game</h2>
In the realm of Advanced Air Mobility, stocks like Archer Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) and Joby Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) have surged recently, although Peterson warns that this momentum may not align with fundamentals. 
&#8220;While US-based JOBY and ACHR have rallied 25-30% over the last 1-month period, we think the stocks have moved ahead of fundamentals given few changes in either company's stories that de-risk the earnings outlook,&#8221; the analyst said.
However, as these companies inch closer to FAA certification, upcoming catalysts such as airline purchase orders could potentially justify their lofty valuations.
<h2 class="wp-block-heading">Plug Power&#8217;s Hydrogen Hurdles: Policy Uncertainty Looms</h2>
The hydrogen sector, represented by Plug Power Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>), is entangled in policy uncertainty, particularly around the awaited 45V tax credit guidance. This delay has stalled clean hydrogen projects, posing a challenge to Plug Power's growth trajectory. 
Peterson highlights, &#8220;We think 2Q top-line results are unlikely to move the needle too much for Neutral-rated Plug Power as a result of the 45V tax credit overhang.&#8221; Despite these issues, there is potential for positive movement in the second half of the year if macroeconomic conditions improve.
Read Also: <a href="https://www.benzinga.com/markets/esg/24/07/39794934/3-under-the-radar-clean-energy-stocks-with-upside-potential-regardless-of-whos-in-the-white-house">3 Under-the-Radar Clean Energy Stocks With Upside Potential, Regardless Of Who&#8217;s In The White House</a>
<h2 class="wp-block-heading">Political Risks, Economic Headwinds Abound For Clean Tech</h2>
The Clean Tech sector's journey through 2024 remains precarious, with political risks and economic headwinds casting long shadows. Although Clean Tech companies are expected to project revenue growth and margin improvements in the coming quarters, Peterson warns of persistent volatility tied to the upcoming presidential election. 
He advises, &#8220;Earnings commentary is likely to include views on political risk from the upcoming presidential election, demand in 2H24 assuming macro improvement, access to liquidity or means to reduce cash burn if the macro does not improve, as well as path to profitability for those who have yet to announce formal targets.&#8221;
As Clean Tech stocks like Enovix, ChargePoint, Archer Aviation, and Joby Aviation lead the charge, the sector stands at a critical juncture, poised between potential technological breakthroughs and the reality of a challenging investment landscape. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">Alphabet Investors Fret Over Margin Impact Of Higher AI-related Capex, But Fund Manager Says Not Spending Enough Exposes Google&#8217;s Parent To Risk Of &#8216;Losing Their Grip On The Future&#8217;</a></li>
</ul>
Photo: Shutterstock

ACHR

CHPT

ENVX

JOBY

PLUG

Clean Tech Titans: Can Enovix, ChargePoint, Archer, Joby Defy The Doubters?

Oil stocks fell early Monday amid concerns that Vice President Kamala Harris could take a tougher stance on the oil and gas industry if she becomes the Democratic presidential nominee and wins the <a href="https://www.benzinga.com/general/politics">race for the White House.</a>
As California attorney general, Harris filed lawsuits against fossil fuel companies, supported reducing greenhouse gas emissions, and pushed for a ban on fracking, <a href="https://www.offshore-technology.com/news/will-kamala-harris-take-a-stronger-stance-than-biden-against-oil-and-gas-industry/?cf-view">according</a> to Offshore Technology. Harris has also been critical of offshore oil exploration and defended California's Low Carbon Fuel Standard.
This potential shift in the political landscape has investors worried, with oil majors seeing declines on Monday.
<h2 class="wp-block-heading">Oil Stocks Feeling The Heat</h2>
At the time of publication, Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) was down 0.69% to $158.06, Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) fell by 0.97% to $28.44, Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) decreased by 0.15% to $115.92, ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) slipped 1.17% to $112.99, and EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) saw a drop of 0.72% to $128.32.
ETFs tied to the oil sector mirrored this downward trend. The Energy Select Sector SPDR Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was down 0.23%, Vanguard Energy Index Fund ETF Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) fell by 0.19%, and the iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) declined by 0.27%.
<h2 class="wp-block-heading">Renewables Traded In Green</h2>
Meanwhile, ETFs focused on renewable energy stocks were in the green, reflecting optimism about a potential shift towards clean energy under a potential Harris administration. The iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) was up 0.51%, and the GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) rose by 1.11%.
Read Also:<a href="https://www.benzinga.com/news/24/07/39883677/investors-anticipate-unraveling-of-trump-trade-as-biden-exits-presidential-race-but-analyst-says-its"> Investors Anticipate Unraveling Of &#8216;Trump Trade&#8217; As Biden Exits Presidential Race, But Analyst Says &#8216;It&#8217;s A Bit Too Early For The Markets To Declare Victory For Trump&#8217;</a>
<h2 class="wp-block-heading">Harris&#8217; Green Policies, Push For Renewables</h2>
The market&#8217;s reaction highlights investor concerns that Harris, known for her environmental advocacy, could enforce stricter regulations on fossil fuels and bolster support for renewable energy initiatives. As Vice President, Harris has supported various green policies, and her presidential campaign is expected to intensify the push towards renewable energy, potentially at the expense of traditional oil and gas companies.
Oil majors have reason to be cautious. If Harris runs for president and wins, her administration might focus on climate policies, including reducing carbon emissions and increasing funding for renewable energy projects. This shift could result in higher compliance costs and stricter regulatory requirements for the oil industry, potentially affecting their profitability.
<h2 class="wp-block-heading">Harris&#8217; Potential Leadership Signals A Greener Future</h2>
The early trading slump in oil stocks underscores the market&#8217;s sensitivity to political developments, especially those that could significantly alter the energy sector&#8217;s landscape. In contrast, the positive movement in renewable energy ETFs suggests that investors are betting on a greener future under Harris&#8217;s potential leadership.
As the political climate heats up, oil majors might need to brace for a more challenging operating environment. The question on everyone&#8217;s mind: Will Harris&#8217;s potential presidency mean a seismic shift for the energy sector? Industry leaders are closely watching and preparing for any regulatory adjustments that may arise.
Read Next: 
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<li><a href="https://bzresearch.myclickfunnels.com/latest-research-webinar-redirect-evergreen?utm_source=website-content">Turn Trading Into The Ultimate Side Hustle Using Benzinga Tools In A Free Webinar</a></li>
</ul>
Photo: Shutterstock

Specialty ETFs

Movers

iShares Dow Jones US Energy Sector Index Fund

What A Kamala Harris Presidency Could Mean For Oil Stocks: Chevron, Marathon Move Lower

U.S. solar manufacturers are prodding the Biden administration to toughen the rules on a law that gives a <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">10% tax credit </a>solar project developers who use materials made in the U.S.A.
The administration sought to encourage investment in clean energy and deter reliance on Chinese goods through the 2022 Inflation Reduction Act, which requires that 40% of the cost of a developer&#8217;s materials comes from U.S.-manufactured solar products.
But the Solar Energy Manufacturers for America Coalition (SEMA) said developers can reach that 40% requirement just by buying U.S.-made mounting racks and inverters, and then purchasing the solar panels overseas, Reuters reported.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/24/05/39068775/enphase-energy-solar-giant-shines-with-golden-cross-breakout">Enphase Energy: Solar Giant Shines With Golden Cross Breakout</a>
SEMA also said the situation undermines the administration&#8217;s goals of building a robust solar supply chain to compete with China because solar panels are more difficult and expensive to produce than the other components.
Price Action: Solar panel manufacturers trended downward by Wednesday&#8217;s late-morning trading.
Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 4.36% to $111.10, while Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) slid 2.78% to $25.19 and Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) dipped 2.49% to $16.85.
Exchange-traded funds that hold shares of Enphase, which has the largest market capitalization of $17.1 billion, <a href="https://www.forbes.com/advisor/investing/best-solar-power-stocks/">according </a>to Forbes Advisor, also fell by late morning on Wednesday.
Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 3.06% as Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>) declined 1.60% and Virtus Duff &amp; Phelps Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCLN#NYSE">VCLN</a>) dropped 1.18%. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) shed 3.24% and iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) declined 1.92%.
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high">Solar Is Leaving Wind In The Dust As World Renewable Energy Hits New High</a></li>
</ul>
Photo: Andreas from Pixabay

Solar Makers Push Biden To Tighten Tax Credit For US-Made Panels

Despite calls for him to step aside after his debate performance, a recent poll shows President Joe Biden gaining ground in seven swing states.&nbsp;
The Bloomberg News/Morning Consult poll found Republican Donald Trump led Democrat Biden by only 2 percentage points, 47% to 45%, in the critical states&nbsp; needed to win the November election.That&#39;s the smallest gap since the poll started last October.
Biden currently holds a lead over Trump in Michigan and Wisconsin. In Arizona, Georgia, Nevada and North Carolina, Biden&#39;s position is within the poll&#39;s margin of error. However, he faces his largest deficit in the crucial state of Pennsylvania.
If Biden does succeed in the November presidential election, his policies and their economic impact could impact several key investment areas.
<h2>ETF Strategies in Focus</h2>
Here are some ETF investment strategies that may be considered if Biden wins again.
<h3>Focus on Infrastructure-Related Stocks</h3>
Biden is in favor of the expansion of infrastructure. Investors can consider stocks of companies that provide products and services for the construction of roads, bridges and other infrastructure projects. iShares U.S. Infrastructure ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/ifra#BATS">IFRA</a>) and Invesco Dynamic Building &amp; Construction ETF (ARCA:PKB) should thus be in focus.
<h3>Bet on Renewable Energy Stocks</h3>
Biden had made it clear in the first term itself that he plans to prioritize the fight against climate change. He has set ambitious goals for the country to achieve net-zero emissions by 2050. Investors can bet on renewable energy stocks, such as those involved in solar, wind and hydroelectric power, to benefit from the shift toward clean energy.
Companies involved in clean energy, electric vehicles and green infrastructure should benefit from Biden&#39;s push for a greener economy. This could benefit ETFs like Invesco Solar ETF (ARCA:TAN) and iShares Global Clean Energy ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icln#NASDAQ">ICLN</a>).
<h3>Cannabis Stocks to Remain on a High?</h3>
President Biden is in favor of gradual legalization of marijuana. Cannabis stocks benefited last year due to the reintroduction of the Secure and Fair Enforcement (SAFE) Banking Act. Biden has demonstrated his commitment to marijuana reform by advocating that no one should face incarceration for using or possessing the substance.
The justice department recommended that cannabis be reclassified as a schedule III drug, indicating a moderate-to-low risk of physical and psychological dependence. Cannabis firms would stand to gain significantly as they would no longer fall under the purview of Section 280E of the U.S. federal tax code, presenting one of the most notable advantages. AdvisorShares Pure US Cannabis ETF (ARCA:MSOS) and ETFMG Alternative Harvest ETF (ARCA:MJ) could be potential winners.
<h3>Consider Defense and Aerospace Stocks</h3>
Biden has also pledged to continue investing in national defense and technology. Investors can consider defense and aerospace stocks that stand to benefit from the government&#39;s focus on improving the country&#39;s national security and technological capabilities. This puts Aerospace &amp; Defense ETFs like iShares U.S. Aerospace &amp; Defense ETF&nbsp;and Invesco Aerospace &amp; Defense ETF&nbsp;in the spotlight.
<h3>Bet on American Industrial Companies </h3>
The Biden administration declared significant tariff hikes on $18 billion worth of Chinese imports this year to safeguard American industries from unfair competition. The new tariffs consider a wide array of products, with major impacts on sectors such as electric vehicles, solar energy, and steel.
The Biden administration highlighted overproduction and potential market flooding by Chinese manufacturers as the key reasons for these increased tariffs. The latest batch of increased tariffs should boost American production and benefit First Trust RBA American Industrial Renaissance ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/airr#NASDAQ">AIRR</a>).
<a href="https://www.zacks.com/stock/news/2299518/etfs-to-track-amid-biden-s-better-showing-in-swing-states?cid=CS-BENZ-FT-etf_news_and_commentary-2299518">To read this article on Zacks.com click here.</a>

AIRR

IFRA

MSOS

PowerShares ETF Trust Dynamic Building &nstruction Portfolio

ETFs to Track Amid Biden's Better Showing in Swing States

As <a href="https://www.benzinga.com/topic/2024-presidential-election">the 2024 U.S. Presidential election</a> approaches, the energy sector stands at a crossroads. 
Potential shifts in policy could significantly impact both traditional and <a href="https://www.benzinga.com/topic/clean-energy">clean energy markets</a>.
According to <a href="https://markets.jpmorgan.com/research/email/scx/qijkd11j/LK2zzrWZCAlD7mRxHsWnxA/GPS-4675360-0">insights</a> from JPMorgan's Strategic Research team, the outcome of the election between incumbent President Joe Biden and Ex-President Donald Trump could lead to varying scenarios. 
Each of these scenarios has distinct implications for investors and companies in the sector.
<h3 class="wp-block-heading">1. Biden Presidency, Split Congress</h3>
<ul>
<li>Clean Energy: This scenario is seen as the lowest risk for the clean energy sector. A divided Congress would likely maintain the status quo, making it difficult to roll back or repeal the <a href="https://home.treasury.gov/news/press-releases/jy2376">Inflation Reduction Act</a> (IRA) incentives. This stability is favorable for companies relying on federal clean energy incentives. Under Biden, hundreds of billions of dollars were put toward <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/04/biden-harris-administration-announces-historic-20-billion-in-awards-to-expand-access-to-clean-energy-and-climate-solutions-and-lower-energy-costs-for-communities-across-the-nation/">incentives</a> for green energy.</li>
<li>Traditional Energy: The regulatory environment under Biden is expected to remain challenging, but stable. Companies have adapted to tighter regulations, which have not hindered record oil and gas output in the U.S. During Biden&#8217;s presidency, the U.S. <a href="https://www.eia.gov/todayinenergy/detail.php?id=61545">set a record</a> for crude oil production. In 2023, it outpaced what all other countries — including Saudi Arabia — have ever produced in one year. </li>
</ul>
<h3 class="wp-block-heading">2. Trump Presidency, Split Congress</h3>
<ul>
<li>Clean Energy: This scenario raises the risk profile slightly. A split Congress would make it challenging to repeal IRA incentives; Trump — who <a href="https://www.nytimes.com/interactive/2020/climate/trump-environment-rollbacks-list.html">rolled</a> back more than 100 pro-environmental policies during his administration — will likely slow their implementation by reducing funding to relevant departments. He may also impact grant and loan spending. </li>
<li>Traditional Energy: Trump — who <a href="https://apnews.com/article/trump-hannity-dictator-authoritarian-presidential-election-f27e7e9d7c13fabbe3ae7dd7f1235c72">vowed</a> to be a dictator on &#8220;day one&#8221; so he can &#8220;drill, drill, drill" — could ease regulations, potentially increase access to resources on federal lands and reduce regulations, thereby supporting more exports.</li>
</ul>
<h3 class="wp-block-heading">3. Trump Presidency, Republican Congress</h3>
<ul>
<li>Clean Energy: This is considered the highest-risk scenario for clean energy. A Republican majority could partially repeal the IRA through a reconciliation bill, particularly targeting unspent funds. However, full repeal is unlikely due to significant investments in Republican states.</li>
<li>Traditional Energy: The sector could benefit from reduced regulations and increased resource access. Policies encouraging more energy exports, such as LNG, could positively impact the long-term gas market.</li>
</ul>
JPMorgan did not explore the scenario of a Biden presidency and Democrat Congress.
Also Read: <a href="https://www.benzinga.com/news/24/05/39012457/enphase-stock-surges-amid-bidens-tariff-boost-on-chinese-solar-imports">Enphase Stock Surges Amid Biden&#8217;s Tariff Boost On Chinese Solar Imports</a>
<h3 class="wp-block-heading">Clean Energy Stocks</h3>
<ul>
<li>Valuation and Sentiment: Clean energy stocks, including those in electric vehicle (EV) charging and green hydrogen, have lagged due to weak fundamentals. Election outcomes could exacerbate this trend, especially under a Republican sweep.</li>
<li>Loan Programs: A Republican sweep might curtail the DOE Loan Programs Office's authority, negatively impacting companies seeking non-dilutive funding for capex-intensive projects.</li>
<li>Subsidies and Tariffs: Potential downsizing or repeal of subsidies for EVs and tightening of charging incentives are risks. However, protectionist measures like <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">tariffs on Chinese imports</a> are likely to remain, regardless of the administration.</li>
</ul>
Investors in the iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>), the First Trust NASDAQ Clean Edge Green Energy Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NYSE">QCLN</a>) and the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) must take heed of these observations.
<h3 class="wp-block-heading">Traditional Energy Stocks</h3>
<ul>
<li>Regulations: The Trump administration could ease regulations and increase resource access, but ongoing legal and political challenges could continue to <a href="https://www.benzinga.com/news/24/05/38997165/trumps-policies-for-money-transaction-with-big-oil-under-investigation-by-senate-democrats-cronyism">shape the regulatory landscape</a>.</li>
<li>Refiners: Refiners might benefit from the continuation of Trump-era corporate tax cuts. However, geopolitical tensions, such as those in the Middle East, could pose risks to crude supply and impact refiner margins.</li>
</ul>
Investors in the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), the Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) and the Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) may want to adjust their positioning based on these observations.
<h3 class="wp-block-heading">Utility and Renewables </h3>
<ul>
<li>Regulated vs. Unregulated: Unregulated renewables are more sensitive to election outcomes, while regulated utilities are less affected. A Biden re-election could be a catalyst for renewables to regain ground lost in 2023.</li>
<li>IRA Resilience: Core utility and renewable energy provisions of the IRA are expected to be resilient, though a Trump victory could create uncertainty until policy clarity emerges.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high">Solar Is Leaving Wind In The Dust As Renewables Hit New High</a>
Utility sector investors such as those invested in the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>), the Global X US Infrastructure Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAVE#NYSE">PAVE</a>) or the Vanguard Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VPU#NYSE">VPU</a>) must take note of such observation.
For those looking to get exposure to renewables, the ICLN, QCLN and PBW ETFs are popular capital market funds in the space.
<h3 class="wp-block-heading">Investment Considerations</h3>
Investors should monitor the evolving political landscape as the election approaches. The potential for policy shifts under different election scenarios underscores the importance of a diversified portfolio. 
As always, staying informed and agile in response to political developments will be key to navigating the energy sector&#8217;s challenges and opportunities in the run-up to the 2024 election.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39082854/exclusive-will-trumps-possible-return-to-power-make-bitcoin-ethereum-go-boom-or-bus">EXCLUSIVE &#8211; Will Trump&#8217;s Possible Return To Power Make Bitcoin, Ethereum Go Boom Or Bust? Experts Weigh In On Crypto&#8217;s Regulatory Future</a>
Image: Shutterstock

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PAVE

PowerShares Exchange Traded Fund Trust WilderHill Clean Energy Portfolio

What A Biden Or Trump Victory Might Mean For The Energy Sector

California is the largest U.S. state by population and was once the largest solar energy producer in the U.S. In a large shake-up, Texas has surpassed California as the largest domestic <a href="https://www.benzinga.com/topic/solar-energy">solar energy producer.</a>
The Data: An <a href="https://www.ft.com/content/ef2f6f8e-60df-4ccd-8c4f-ef5cd0eb3176">article</a> from the Financial Times outlined how Texas, which <a href="https://www.benzinga.com/general/23/06/32950886/texas-power-grid-strains-consumers-urged-to-cut-back-energy-use-during-heatwave">has its own energy </a>grid, has become a &#8220;model&#8221; for green energy adoption.
Texas&#8217; solar grid has grown exponentially in the past five years. In 2019, Texas had just over 2 gigawatts of solar plants compared to California&#8217;s 13. In 2024, Texas has 23.6 gigawatts to California&#8217;s 21.2. FT acquired the data from Grid Status.
According to data from the think tank Ember, Texas generated more power from solar than coal for the first time in March.
Why it Matters: Texas has consistently voted for Republican state legislative majorities, who themselves have been historically unlikely to support green energy. The fact that Texas surpassed Democratic stronghold California could indicate that solar energy adoption has become less politicized.
The state has also seen an increase in solar manufacturing. Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) <a href="https://www.solarpowerworldonline.com/2024/04/welcome-to-texas-the-new-solar-valley/">manufactures</a> solar inverters in Arlington while Canadian Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) manufactures panels in Mesquite. Several other manufacturers have announced plans to produce parts in Texas.
The state attracted attention as a newfound leader in green energy when<a href="https://www.benzinga.com/news/24/04/38041385/elon-musks-tesla-is-austins-biggest-private-employer-so-how-much-do-giga-texas-workers-get-paid"> Elon Musk moved </a>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) headquarters from California to Austin. <a href="https://www.benzinga.com/news/24/05/38912593/elon-musk-wants-giga-texas-roof-to-spell-out-tesla-amid-solar-panels-bright-enough-to-be-seen-at-nig">Musk reportedly wants</a> the roof of his Texas Gigafactory to be covered in solar panels.
For investors interested in the solar energy sector, here are three ETFs to consider:
<ol>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>): Specializes in solar energy stocks​</li>
<li>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>): Covers a diverse range of clean energy sources, including solar​ </li>
<li>First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>): Includes a mix of renewable energy companies, with substantial investments in solar energy​</li>
</ol>
Also Read: <a href="https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high">Solar Is Leaving Wind In The Dust As World Renewable Energy Hits New High</a>
Image generated using artificial intelligence via Midjourney.

CSIQ

California Loses The Solar Crown: Who's America's New Energy Star?

Meteorologists at the National Oceanic and Atmospheric Administration (NOAA) have issued a bleak forecast for 2024&#8217;s hurricane season, which runs June 1 to Nov. 30. The most devastating hurricanes <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34152737/as-florida-surveys-damage-after-hurricane-idalia-heres-what-it-means-for-stocks-and">cause</a> hundreds of billions of dollars in damages and can greatly <a href="https://www.benzinga.com/topic/hurricanes">impact the financial markets</a>.
NOAA Announcement: NOAA administrator Rick Spinrad <a href="https://www.noaa.gov/news-release/noaa-predicts-above-normal-2024-atlantic-hurricane-season">outlined</a> the NOAA&#8217;s forecasts at a news conference on Thursday.
In the Atlantic region, forecasters predict an 85% chance of an above-normal hurricane season, a 10% chance of a near-normal season and a 5% chance of a below-normal season. The NOAA predicts there will be eight to 13 hurricanes with four to seven of those being classified as severe.
This year&#8217;s heightened forecast is attributed to warm ocean temperatures, La Nina in the Pacific, Atlantic trade winds and less wind shear.
Why it Matters: Extreme weather can cause changes in commodity prices and affect consumer demand.
Home improvement stores such as Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) tend to see increases in sales after extreme weather events. 
Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) produces household generators, which may increase in popularity before and after hurricanes as consumers brace for power outages.
Recent increases in extreme weather are widely <a href="https://www.edf.org/climate/climate-change-and-extreme-weather">attributed</a> to climate change. The transition to clean energy has been led by companies such as First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) and Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>). Popular ETF options are the iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) and the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>).
Major <a href="https://www.benzinga.com/markets/equities/23/09/34211910/home-insurance-shockwave-climate-risks-trigger-coverage-cuts-as-claims-surge-report">insurers</a> such as Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) have ended coverage in certain regions due to climate risks.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38851467/will-home-depot-continue-to-weather-macro-challenges-continued-softness-in-discreti">Will Home Depot Continue To Weather Macro Challenges? &#8216;Continued Softness In Discretionary Projects,&#8217; But &#8216;Compelling Recovery Opportunity,&#8217; Say Analysts</a>
Photo: 12019 from Pixabay

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