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The fund will invest at least 90% of its total assets in the securities (including ADRs and GDRs) that comprise the underlying index. The underlying index is designed to provide exposure to companies listed on exchanges in developed markets that derive a significant amount of their revenues from the following business segments of the solar industry: solar power equipment producers including ancillary or enabling products; etc. The fund is non-diversified.

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Wall Street's rally stretched into a second session Tuesday, fueled by improving investor sentiment after an early-week breakthrough in U.S.-China trade talks, easing inflation data and fresh geopolitical headlines involving major investment pledges <a href="https://www.benzinga.com/topic/donald-trump">from the Middle East.</a>
The Consumer Price Index showed signs of cooling in April, as both headline and core readings eased or met expectations, easing concerns that Trump's proposed trade tariffs would trigger a surge in inflation.
The S&amp;P 500 advanced 0.7%, adding to Monday's 3.3% surge, and reached its highest level since March 3.
Technology stocks outperformed again, with the Nasdaq 100 jumping 1.8%, driven by a standout 5.3% rally in NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
The chipmaker giant surged after reports that the United Arab Emirates may receive approval to purchase over a million of its advanced AI processors, while Saudi Arabia pledged up to $600 billion in future U.S. investments, with a focus on technology and infrastructure.
Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and DataVolt have committed to invest a combined $80 billion in technology initiatives across both the U.S. and Saudi Arabia, according to a White House press release.
The news came during President Donald Trump's diplomatic visit to the Middle East, where he also reiterated confidence in the Republican tax bill, saying, "We're in good shape to pass the tax bill," and calling it "the biggest tax cut in history."
Crude oil prices spiked nearly 3% to surpass $63 a barrel after Trump warned that Iranian oil exports could be driven to zero due to the country&#8217;s threat to regional stability.
The rally marks a 10% surge over the past four sessions, putting crude on track for its best four-day run since 2022.
The energy sector rallied in tandem, with U.S. energy stocks rising 1.5% on the day.
U.S. Treasury yields extended gains amid improving risk appetite. The 10-year yield jumped to 4.50%, while the 30-year yield climbed to 4.95%, signaling stronger expectations for economic resilience and possibly tighter monetary conditions down the line.
The U.S. dollar index slipped 0.5% after Monday's strong gains, reflecting a mild pullback as traders repositioned. Gold rose 0.6% to recover some ground amid geopolitical headlines.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.4% to $104,000, continuing its uptrend and reclaiming momentum after days of sideways action. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day chg %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,234.91</td>
<td>+1.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,895.69</td>
<td>+0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,105.25</td>
<td>+0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,234.10</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.84% to $587.87.</li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased down 0.4% to $422.27.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 1.74% to $516.67.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.45% to $208.81.</li>
<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 2.2%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 2.4%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul class="wp-block-list">
<li>Clean energy and solar stocks rallied after House Republicans delivered a better-than-feared tax proposal for renewable energy incentives. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) soared 5.9%, with First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), <a href="https://www.benzinga.com/top-stories/25/05/45381191/first-solar-eyes-best-2-day-rally-since-2013-after-gop-tax-plan-spares-key-clean-energy-credits">leading gains, up 21%. </a></li>
<li>Semiconductors continued to extend gains, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), now up more than 10% over the past two sessions. </li>
<li>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) tumbled 16% on Tuesday after the company withdrew its full-year guidance, citing a sharp rise in medical expenses. The health insurer also announced that CEO Andrew Witty has stepped down, citing "personal reasons."</li>
</ul>
Read Now:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45379707/sp-500-to-6500-goldman-sachs-trims-recession-odds-as-trump-backs-off-on-tariffs">S&amp;P 500 To 6,500? Goldman Sachs Trims Recession Odds As Trump Backs Off On Tariffs</a> Photo: Solarseven via Shutterstock </li>
</ul>

Asia

Equities

Government

Large Cap

Macro Economic Events

Regulations

Broad U.S. Equity ETFs

Commodities

Global

Econ #s

Economics

Tech

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

FSLR

GOOG

GOOGL

NVDA

ORCL

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

UBER

Select Sector SPDR-Consumer Discretionary

Stocks Surge, Nvidia Rallies 5%, Oil Tops $63 After Trump's Iran Warning: What's Driving Markets Tuesday?

Clean energy stocks spiked on Tuesday, with First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) jumping more than <a href="https://www.benzinga.com/topic/renewable-energy">20% during early trading</a>.
The rally came after House Republicans delivered a better-than-feared tax proposal for renewable energy incentives.
The market had braced for a potential gutting of clean energy provisions under the Inflation Reduction Act (IRA), but the House GOP's proposed tax legislation, while imposing several phaseouts and rollbacks, kept many of the core credits intact.
This drove a sector-wide relief rally that sent major solar names and exchange-traded funds sharply higher.
First Solar has rallied 35% over the past two days, putting it on track for the strongest 2-day rally since 2013. 
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) rose 6.5% Tuesday after a 4% rally on Monday, marking its best two-day performance in more than 12 months. The Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) followed suit, rising 3.4% Tuesday after a 5.1% surge on Monday.
Tuesday&#8217;s Top Performers Among Solar Stocks
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Security Name</td>
<td>Price</td>
<td>$ Return</td>
</tr>
<tr>
<td>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>)</td>
<td>8.34</td>
<td>21.90%</td>
</tr>
<tr>
<td>First Solar, Inc. </td>
<td>187.24</td>
<td>19.86</td>
</tr>
<tr>
<td>Shoals Technologies Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>)</td>
<td>6.23</td>
<td>16.25</td>
</tr>
<tr>
<td>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>)</td>
<td>12.70</td>
<td>15.89</td>
</tr>
<tr>
<td>Nextracker Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>)</td>
<td>56.65</td>
<td>11.89</td>
</tr>
<tr>
<td>Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>)</td>
<td>15.44</td>
<td>10.22</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">What's Inside The GOP Tax Bill Proposal?</h3>
The legislation, up for a House Ways and Means Committee vote Tuesday afternoon, includes several revisions to clean energy tax credits but stops short of dismantling them.
Key changes include:
<ul class="wp-block-list">
<li>25D residential solar tax credit (30%) ends for projects not installed by end-2025.</li>
<li>48E investment credit, used by residential and utility-scale solar, begins phasing out in 2029.</li>
<li>45X manufacturing credit ends after 2031, instead of phasing down in 2032.</li>
<li>45Y clean energy production credit changes qualification from "start of construction" to "placed in service" and phases down from 80% if placed in service during calendar year 2029, and then declines by 20% per year until reaching 0% in 2031.</li>
<li>Credit transferability was repealed, eliminating the ability to monetize credits by selling to large taxpayers</li>
<li>Additional cuts to funding, including $27 billion from the Greenhouse Gas Reduction Fund</li>
</ul>
A crucial clause excludes 45X credit eligibility for firms receiving significant support from foreign entities of concern, defined by national security laws.
<h3 class="wp-block-heading">Manufacturers Seen As Primary Winners</h3>
Analysts at Goldman Sachs said the proposal is "not as negative as initially feared," particularly for domestic clean energy manufacturers.
&#8220;We believe the initial reaction to the proposed tax plan is relatively bullish [&#8230;] as we believe investors had been pricing in a severely bearish possible outcome – such as the immediate repeal of IRA – and the phase out looks rather measured,&#8221; the firm&#8217;s analyst Brian Lee, CFA, said.
Companies with high U.S. revenue exposure, such as Sunrun Inc., Shoals Technologies Group Inc., First Solar Inc., and Array Technologies Inc., stand to benefit the most, according to the expert.
For First Solar, the revision to the 45X credit is especially supportive, potentially contributing 75% of its 2026 earnings per share, according to Goldman estimates. The company's U.S.-based manufacturing footprint could also gain from the foreign-entity restrictions.
Conversely, residential-focused firms like Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) may face pressure from the removal of the 25D credit in 2026, which could hurt demand for solar loan and cash sale products.
Now Read: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/05/45368550/apple-may-up-its-numbers-amid-china-tariff-truce-trump-talks-500-billion-us-investment-after-tim-cook-call">Apple May &#8216;Up Its Numbers&#8217; Amid China Tariff Truce: Trump Talks $500 Billion US Investment After Tim Cook Call</a></li>
</ul>
Image: Shutterstock

ARRY

ENPH

PowerShares Exchange Traded Fund Trust WilderHill Clean Energy Portfolio

SEDG

SHLS

First Solar Eyes Best 2-Day Rally Since 2013 After GOP Tax Plan Spares Key Clean Energy Credits

Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) shares are trading higher on Thursday after the company reported better-than-expected <a target="_blank" href="https://www.benzinga.com/news/earnings/25/05/45268589/sunrun-stock-rallies-after-strong-q1-report-details" rel="noreferrer noopener">first-quarter results on Wednesday</a>.
The company reported an EPS of 20 cents per share, which beat the analyst consensus estimate of 25 cents loss and revenue of $504.27 million, which beat the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus estimate of $484.06 million</a>.
Guggenheim analyst Joseph Osha kept Neutral rating on the stock and writes that while overall customer volume growth is modest in the quarter (additions of 25,428, up only 6%, with <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color" rel="noreferrer noopener">expected decelerating comps)</a>.
The analyst anticipates the company to continue to prioritize liquidity and profitability over aggressive growth in the near to medium term, awaiting a more favorable environment.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45164497/jim-cramer-this-financial-stock-is-a-buy-likes-exlservice-holdings" rel="noreferrer noopener">Jim Cramer: Sunrun Had &#8216;Bad Couple Of Quarters,&#8217; ExlService Holdings Is &#8216;Solid&#8217;</a>
Osha projects Sunrun to become an increasingly dominant player as the residential solar industry consolidates.
The analyst writes that the company&#8217;s main challenges are policy-related, particularly the solar Investment Tax Credit (ITC), which significantly impacts their cash generation ($50 million impact on cash flow for every 1% change in the effective ITC rate).
The analyst notes that the company has strategies to counteract a lower ITC, and management stated their belief that the company can still generate cash under such circumstances.
However, the analyst adds that accurately predicting the net effect and timing of potential changes to the Inflation Reduction Act on cash generation is exceedingly challenging.
Osha expects this to pose a considerable challenge for RUN investors in the medium term.
KeyBanc analyst Sophie Karp reiterated a Sector Weight rating and said the results beat consensus. They exceeded their solar and storage capacity addition guidance and marked their fourth <a target="_blank" href="https://www.benzinga.com/quote/RUN/analyst-ratings" rel="noreferrer noopener">quarter of positive cash flow</a>.
The company&#8217;s second quarter and FY25 guidance indicates strong demand across channels, and they continued to reduce corporate debt, adds the analyst.
Karp writes that while these positives might offer some valuation support, broader uncertainty around government and fiscal policy, coupled with persistently high industry-wide cost of capital, can lead to shares unlikely to regain positive momentum in the near term.
Investors can gain exposure to the stock via&nbsp;the Invesco Solar ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and&nbsp;the ProShares S&amp;P Kensho Cleantech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTEX#NYSE">CTEX</a>).
Price Action: RUN shares are up 11.7% at $8.255&nbsp;at the last check on Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/45264157" target="_blank" rel="noreferrer noopener">Emerson Delivers Q2 Profit Thanks To Cost Discipline, Raises The Bar for FY25</a></li>
</ul>
Image via Shutterstock

Analyst Color

News

Reiteration

Analyst Ratings

Movers

Trading Ideas

CTEX

Can Sunrun Weather the Policy Storm? Analysts Weigh Potential Solar ITC Cuts

The U.S. Energy Department (DoE) is reportedly contemplating substantial reductions, potentially halting&nbsp;nearly $10 billion in federal&nbsp;funding for clean-energy projects. This move could jeopardize high-profile collaborations with&nbsp;Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)&nbsp;and&nbsp;Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>).
What Happened: The proposed cuts could disrupt contracts with energy companies involved in&nbsp;hydrogen, carbon capture, long-duration energy&nbsp;storage, and other technologies, The Wall Street Journal <a href="https://www.wsj.com/politics/policy/doge-comes-for-clean-energy-putting-exxon-and-occidental-projects-at-risk-565bd42f">reported</a>. These reductions are a part of President Donald Trump's broader initiative through the Department of Government Efficiency (DOGE) to reduce the size and cost of government, and could result in thousands of job losses at the Department of Energy (DOE), according to the report. 
DOGE&#8217;s&nbsp;efforts, overseen by Trump advisor Elon Musk, have already resulted in significant contract reductions and&nbsp;job cuts across the federal&nbsp;workforce. The $10 billion figure represents&nbsp;potential funding slashes in two&nbsp;DOE offices and a portion of the DOGE-driven cancellations being considered across the Energy Department.
Several key partnerships are at risk, including projects with Exxon, NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), and Occidental Petroleum, as the DOE considers cutting support. Additionally, funding for four regional hydrogen hubs—mainly in Democratic-leaning areas—is also under review.
DOE did not respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44877231/ethereum-price-plunges-to-2018-levels-what-is-going-on" target="_blank" rel="noreferrer noopener">Ethereum Price Plunges To 2018 Levels: What Is Going On? &#8211; Benzinga</a>
Why It Matters: The proposed cuts follow President Trump&#8217;s earlier move to freeze billions in federal funding, affecting projects in clean energy, conservation, and transportation across the United States. This move&nbsp;in February has created <a href="https://www.benzinga.com/news/25/02/43628767/trump-freezes-billions-in-federal-funding-jobs-and-projects-in-clean-energy-conservation-and-transportation-left-in-limbo">uncertainty </a>for thousands of workers and local economies.
Moreover, in April 2025, Trump unveiled plans to <a href="https://www.benzinga.com/government/regulations/25/04/44701436/trump-unleashes-beautiful-clean-coal-policies-as-wall-street-tanks-sp-500-hits-1-year-low">revive U.S. coal production</a>, marking a dramatic policy reversal from the climate-focused agendas of the Biden and Obama administrations. This shift in policy and the proposed funding cuts could significantly impact the clean energy sector and its stakeholders.
Meanwhile, DOGE has drawn severe criticism for its mass firings. Billionaire entrepreneur Mark Cuban <a href="https://www.benzinga.com/personal-finance/25/03/44484549/mark-cuban-on-doge-government-cuts-this-isnt-a-corporate-turnaround-this-is-the-united-states-of-america">warned </a>that abruptly cutting federal programs, agencies, and jobs without considering the economic impact could harm local economies. He noted that in some cities, up to 9% of the workforce depends on government jobs, and sudden cuts could lead to job losses, falling home values, and economic decline.
iShares Global Clean Energy UCITS ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) and Invesco Solar ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) climbed 1.77% and 1.19%, respectively, on Thursday.
While shares of Occidental Petroleum and Exxon Mobil rose 3.28% and 2.62%, respectively, during the same period.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/25/04/44881570/trump-administration-to-lay-off-nearly-90-of-cfpb-employees-in-major-downsizing-report" target="_blank" rel="noreferrer noopener">Trump Administration To Lay Off Nearly 90% Of CFPB Employees In Major Downsizing: Report</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

iShares S&P Global Clean Energy Index Fund

ICLN

Trump's Energy Department Mulls Cutting Billions In Clean-Energy Funds, Threatening Exxon, Occidental Projects

Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares are trading higher premarket on Wednesday. The company launched its most powerful and versatile battery to date, the IQ Battery 5P with FlexPhase, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44708775/enphase-energy-expands-in-europe-with-iq-battery-5p-with-flexphase-delivering-three-phase-backup-p" rel="noreferrer noopener">for customers in Poland</a>.
This all-in-one AC-coupled system offers reliable backup power and supports both single-phase and three-phase setups, providing flexible energy solutions for various home needs.
The FlexPhase battery was recently introduced in Germany, Austria, Switzerland, and Luxembourg.
The IQ Battery 5P starts with 5 kWh of capacity and can be scaled up to 70 kWh using multiple units.
Each 5 kWh battery delivers up to 3.68 kW of continuous power in single-phase setups and 1.28 kW per phase in three-phase setups.
Designed for flexibility, it supports both grid-tied and backup power configurations.
When paired with the IQ System Controller 3 INT, it can deliver up to twice its continuous power for three seconds to start high-power devices without grid support.
In Poland, the battery comes with a 15-year industry-leading warranty.
Szymon Konieczka, CEO of BTI Solar, an installer of Enphase products in Poland, stated, &#8220;What sets this technology apart is its adaptability – the battery&#8217;s scalable architecture accommodates both single-phase and three-phase systems, letting us customize backup solutions for each home. Enphase continues to be an industry leader with innovations like this.&#8221;
Sabbas Daniel, senior vice president of sales at Enphase Energy, said, &#8220;With its compatibility for both single-phase and three-phase systems, the IQ Battery 5P is ideally suited for retrofitting the country&#8217;s large base of existing solar homes.&#8221;
On Tuesday, the company disclosed the launch of its most powerful and flexible battery to date, the IQ Battery <a href="https://www.benzinga.com/news/contracts/25/04/44694476/enphase-unveils-advanced-three-phase-iq-battery-in-luxembourg-with-15-year-warranty" target="_blank" rel="noreferrer noopener">5P with FlexPhase, in Luxembourg</a>.
Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and&nbsp;Global X Solar ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Price Action: ENPH shares are down 1.75% at $48.65 at the last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44697600/stocks-rebound-chipmakers-soar-on-trade-deal-hopes-bitcoin-lags-whats-driving-markets-tuesday" target="_blank" rel="noreferrer noopener">Stocks Rebound, Chipmakers Soar On Trade Deal Hopes, Bitcoin Lags: What&#8217;s Driving Markets Tuesday?</a></li>
</ul>
Photo: Shutterstock

RAYS

Enphase Rolls Out Scalable, Grid-Ready IQ Battery 5P in Poland With 15-Year Warranty

Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares are trading lower on Tuesday after the company disclosed the launch of its most powerful and flexible battery to date, the IQ Battery 5P with <a href="https://www.benzinga.com/pressreleases/25/04/g44682441/enphase-energy-expands-in-europe-with-iq-battery-5p-with-flexphase-delivering-three-phase-backup-p" target="_blank" rel="noreferrer noopener">FlexPhase, in Luxembourg</a>.
This all-in-one, AC-coupled system supports three-phase electrical configurations, commonly used in Luxembourg homes, and is designed to provide dependable backup power.
The rollout follows the battery's recent introduction in Germany, Austria, and Switzerland.
The IQ Battery 5P starts at 5 kWh of capacity and multiple units can be configured to provide up to 70 kWh.
Each 5 kWh battery is designed to deliver continuous power of up to 3.84 kW in single-phase configuration and 1.28 kW per phase in three-phase configuration.
The new batteries can be configured to meet the needs of each homeowner, offering grid-tied support or backup power.
The batteries are designed to discharge up to two times the maximum continuous power for three seconds, enabling the start-up of high-power devices without the grid when paired with the IQ&nbsp;System Controller 3 INT.
Last week, the company launched its IQ System Controller <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44625458/enphase-energy-adds-battery-backup-to-boost-resilience-in-france-and-the-netherlands" rel="noreferrer noopener">in France and the Netherlands</a>.
The system integrates IQ Microinverters and IQ Battery 5Ps to offer a complete energy solution, enabling homeowners to switch to backup power during outages and keep essential appliances running.
The company plans to release Q1 <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">2025 results on April 22</a>.
Investors can gain exposure to the stock via Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Price Action: ENPH shares are down 2.36% at $54.45 at the last check on Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/25/02/43481122/enphase-energy-stock-rallies-after-strong-q4-results-q1-guidance-above-estimates" target="_blank" rel="noreferrer noopener">Enphase Energy Stock Rallies After Strong Q4 Results, Q1 Guidance Above Estimates</a></li>
</ul>
Photo: Shutterstock/T. Schneider

Contracts

Enphase Unveils Advanced Three-Phase IQ Battery in Luxembourg with 15-Year Warranty

The White House has ordered a temporary freeze on all federal grants and loans, putting $3 trillion in funding under scrutiny and setting the stage for a legal and political showdown over the congressional power of the purse that could heavily impact a <a href="https://www.benzinga.com/markets">wide range of industries.</a>
The directive, issued Monday by the Office of Management and Budget and received by several media outlets, requires all federal agencies to halt disbursements while programs are reviewed for alignment with President Donald Trump's policy priorities.
This includes halting new awards, existing payment and funding for projects until reviewed.
The exact financial impact of the order remains uncertain. Budget experts cited <a href="https://www.washingtonpost.com/business/2025/01/28/trump-spending-freeze-upends-washington-triggering-legal-threats-delays/">by the Washington Post </a>estimate at least tens of billions of dollars are at stake, though the White House directive suggests the total could be significantly higher.
Of the almost $10 trillion spent by the federal government in fiscal 2024, more than $3 trillion was federal financial assistance, Matthew Vaeth, acting director at the OMB, said in the memorandum.
&#8220;Financial assistance should be dedicated to advancing Administration priorities,&#8221; Vaeth said, adding that &#8220;the use of Federal resources to advance Marxist equity, transgenderism, and green new deal social engineering policies is a waste of taxpayer dollars that does not improve the day-to-day lives of those we serve.&#8221;
The White House said that Social Security and Medicare remain untouched. The sweeping pause threatens funding for universities, nonprofits, contractors and private companies that depend on federal assistance.
&#8220;Nothing in this memo should be construed to impact Medicare or Social Security benefits,&#8221; the memo said. 
The immediate focus will be on how agencies handle exemptions. The OMB memo allows federal departments to request case-by-case approvals, which means some funding may still flow, but the process is likely to be slow and politically charged.
Federal agencies have until Feb. 10, 2025, to provide OMB with detailed reports outlining which programs, projects, and activities are affected by the funding pause.
<h3 class="wp-block-heading">Legal, Political Showdown Over Federal Funds </h3>
The move is triggering legal challenges from nonprofits and Democratic-led states.
Within hours of the announcement, lawsuits were filed in federal courts in New York, Illinois and Oregon, arguing that Trump does not have the authority to withhold congressionally approved spending.
Senate Minority Leader Chuck Schumer was among the first to push back, saying Congress-approved investments are legally mandated and asserting the president lacks the authority to override the Impoundment Control Act of 1974, which restricts unilateral executive control over federal funds.
Trump has long argued that the 1974 law is unconstitutional, stating that past presidents had far more discretion over spending before its passage.
<h3 class="wp-block-heading">Which Industries Could Face Trouble?</h3>
Some of the hardest-hit sectors could include clean energy, defense, health care and education, where federal dollars have played a crucial role in driving investment and growth in recent years.
Trump's OMB memo explicitly targeted climate initiatives and green energy programs. Shares of solar and renewable energy companies were among the hardest hit following the federal funding freeze.
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and the Invesco Wilderhill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) fell by 2% and 1.3%, respectively, on Tuesday. 
Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) dropped 12%, Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) fell 9.2% and SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) declined 5%. 
Defense contractors such as Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) and Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) may also see rising uncertainty. While military spending is unlikely to be cut outright, several defense contractors rely on federal grants for research and development. 
The impact on health care remains unclear. While Medicare is shielded, Medicaid funding — which supports hospitals, managed care providers and pharmaceutical companies — could be at risk.
HCA Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) and Universal Health Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>) fell by 1% and 1.4%, respectively, while Tenet Healthcare Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) showed resilience Tuesday. 
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43281252/fed-set-to-signal-no-rush-to-cut-rates-as-wall-street-awaits-policy-clarity">Fed Set To Signal No Rush To Cut Rates As Wall Street Awaits Policy Clarity</a></li>
</ul>
Photo via Shutterstock.

Sector ETFs

Politics

NOVA

Trump's Federal Spending Freeze Puts $3 Trillion In Limbo, Threatens Industries Like Clean Energy, Defense, Health Care

Trump's first day in office brought a wave of executive orders targeting immigration, energy, social policies, and announcing the withdrawal from global agreements like the Paris Climate Accord and <a href="https://www.benzinga.com/topic/donald-trump">the World Health Organization. </a>
Trump also pledged to raise tariffs up to 25% on both Canada and Mexico starting Feb. 1, but fell short of announcing universal tariffs on all imports.
Following Monday&#8217;s market closure for Martin Luther King Jr. Day, investors began assessing how Trump's new policy measures could impact sectors across the board. 
Gold miners and defense stocks outperformed, while solar energy companies were among the hardest hit.
<h3 class="wp-block-heading">Wall Street&#8217;s Winners And Losers After Trump&#8217;s Day 1</h3>
Gold miners were among the standout performers, amid rising trade fears between the U.S. and Canada. 
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) climbed 2.6% by 1:30 p.m. ET Tuesday. Leading gains were Harmony Gold Mining Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>), up 4.3% and Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>), up 3.1%.
&#8220;While President Trump's Inauguration Day policy announcements on tariffs were more benign than expected, we continue to expect the White House to increase tariff rates on autos and imports from China, and we see other tariff proposals as a risk,&#8221; Goldman Sach&#8217;s analyst Elsie Peng wrote in a note Tuesday.
Defense stocks also surged as Trump's policies emphasized national security and border protection declaring a &#8220;national emergency&#8221; at the southern border with Mexico. The iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) rose 3.3%.
Other notable movers included the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), up 2%, and the SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>), which rose 1.6% as investors bet on increased demand for industrial materials.
Oil and gas exploration companies saw declines despite <a href="https://www.benzinga.com/government/regulations/25/01/43097430/trumps-drill-baby-drill-era-begins-oil-prices-tumble-us-energy-stocks-edge-up">Trump's "Drill, Baby, Drill"</a> push to unleash U.S. energy resources. The SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) dropped 1.1%, signaling concerns about potential oversupply.
Clean energy and solar stocks, however, suffered from Trump's decision to halt offshore wind leasing and withdraw the U.S. from the Paris Climate Accord. 
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 3.1%, with losses from Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>), down 6.7%, and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), which dropped 5.4%. The Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) slipped 1%.
Read Next: 
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</ul>
Photo: Shutterstock

Mid Cap

Market Vectors ETF Trust Market Vectors Gold Miners

iShares Dow Jones US Aerospace & Defense Index Fund

JETS

Trump's First Day Sends Gold Miners, Defense Stocks Soaring, Solar Sliding

The World Economic Forum's (WEF) "Global Risks Report" for 2025 paints a sobering picture of the challenges ahead. The survey, released during the <a href="https://www.benzinga.com/topic/world-economic-forum#more-news">WEF&#8217;s annual meeting in Davos</a>, Switzerland, highlights the risks of geopolitical tensions, climate change and disinformation. 
These risks call for strategies to safeguard investments while capitalizing on emerging opportunities. Here&#8217;s how some ETFs could help investors sail smoothly through each global challenge mentioned in the survey.
Armed Conflict
According to the WEF report, 23% of respondents named state-based armed conflict as the most pressing risk for 2025. Persistent geopolitical tensions, such as the Russia-Ukraine conflict and the unrest in the Middle East, have shaken global trust.
In such a dire situation, defense ETFs and global security ETFs can save the day for investors. iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) provides exposure to U.S.-based companies in the defense sector, which could benefit from increased government spending on military capabilities. Moreover, an expense ratio of 0.4% makes it a cost-effective option. Also, a beta of 0.97% means it is at slightly lower risk than the broader market during volatility.
In addition, the SPDR S&amp;P Kensho Future Security ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITE#NYSE">FITE</a>) focuses on innovative companies addressing global security challenges, including cybersecurity and physical defense. A glimpse of its top holdings include Viasat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>), Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and F5 Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>). The fund boasts an expense ratio of 0.45%.
Extreme Weather
The climate crisis is intensifying the frequency and severity of weather events such as floods, heatwaves, and tornadoes. With environmental risks dominating the 10-year horizon, resilient investment strategies are the need of the hour.
Clean Energy ETFs are well-positioned to capitalize on this global challenge. Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) has holdings in solar energy companies like Enphase Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NYSE">ENPH</a>) and First Solar Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NYSE">FSLR</a>), which are poised to benefit from global decarbonization efforts.
See Also: <a href="https://www.benzinga.com/news/24/10/41594398/bill-gates-climate-innovation-model-wins-praise-from-ray-dalio-klaus-schwab-but-say-1-trillion-annua">Bill Gates&#8217; Climate Innovation Model Wins Praise From Ray Dalio, Klaus Schwab, But Say $1 Trillion Annual Funding Globally Is Not Enough</a>
Disinformation and Misinformation
For the second consecutive year, the scourge of misinformation and disinformation has been flagged by WEF as a top risk, leading to societal distrust, markets disruption, and heightened polarization. 
Many tech companies are united in their efforts to curb the spread of misinformation as well as disinformation (there is a very thin line of intentions separating the two terms). However, among those most equipped to fight this menace are cybersecurity companies. Naturally, <a href="https://www.benzinga.com/25/01/42829188/hack-attack-cybercrime-surge-fuels-demand-for-cybersecurity-etfs">ETFs focusing on the cybersecurity sector</a> stand to gain.
First Trust Nasdaq Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) focuses on companies addressing cyber threats, which often fan the fire of misinformation. Stocks of companies like Broadcom, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Crowdstrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), prominent players in the cybersecurity space, are part of this fund&#8217;s holdings. 
Media ETFs like the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) can also benefit from media firms, which are increasingly becoming content-conscious. Media firms may benefit from investing in trusted content creation and digital information technologies.
Why ETFs Are Ideal In Turbulent Times
Insights from over 900 global risk experts, policymakers and industry leaders in September and October last year were obtained to compile WEF&#8217;s survey report. Some of the other short-term risks that the WEF's report highlights include societal polarization, cyber espionage, pollution, and inequality.
In these turbulent times, investors seek to hedge their investments instead of holding back from the market. ETFs come into the picture as flexible, cost-efficient and concern-specific instruments that allow investors to diversify their portfolios across sectors and geographies during global uncertainties.
As Carolina Klint of Marsh McLennan Europe told CNBC, "I think we're navigating an era now marked by increasing economic tensions&#8230;And I think we have to recognize the fragmentation is not a theoretical concern. It is something that we need to confront today. So, it has resulted in a more complex and uncertain trading environment." 
Building a resilient portfolio with ETFs aligned to global challenges can help investors power through 2025.
See Next: 
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<li><a href="https://www.benzinga.com/etfs/new-etfs/25/01/43010401/maximize-growth-minimize-risk-with-new-dynamic-allocation-etf">Maximize Growth, Minimize Risk With New, Dynamic Allocation ETF</a></li>
</ul>
Photo: Shutterstock

Specialty ETFs

Emerging Market ETFs

ANEW

AVGO

CIBR

CRWD

CSCO

FFIV

FITE

VSAT

Davos 2025: ETFs To Tackle Geopolitical, Climate, Cyber Risks

While the Cybertruck may have actually made its debut on the U.S. roadways in November 2023, this Tesla electric vehicle&#8217;s debutante year of 2024 was nothing <a href="https://www.benzinga.com/topic/cybertruck">less than a success</a> among Benzinga readers. 
Sightings of this not-so-demure rare bird<a href="https://www.benzinga.com/news/24/07/39894802/tesla-vehicle-goes-up-in-flames-at-charging-station-these-are-not-easy-fires-to-put-out-first-respon"> included the truck in flames</a> — a metaphor for 2024, some might say. 
Shaquille O'Neal, a former NBA superstar who makes multiple appearances on the 2024 list, is among its fans, but the Cybertruck is also intrinsically linked to Tesla CEO Elon Musk.
Despite the ubiquity of Cybertrucks, Musk and Shaq, the No. 1 spot went to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which made a stellar <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42501517/whale-accumulation-powers-bitcoins-bull-run-but-retail-still-the-king-in-ownership">comeback in the latter part of 2024</a>, much to the chagrin of one possible Bitcoin holder — and the No. 1 article for 2024.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/23/12/36438573/benzingas-top-5-articles-for-2023-a-tesla-model-y-inferno-brics-currency-ambitions-and-othe"> The No. 1 article for 2023 was "Tesla Told Driver To Bring &#8216;Fully Burned&#8217; Model Y To Service Center After It Burst Into Flames On Roadside&#8221; by Adam Eckert.</a>
1. &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half a Billion Dollars in Landfill</a>,&#8221; by Aniket Verma, published, Oct. 14. (There was a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away">follow-up article on Nov. 28</a> in which the ex-girlfriend admitted to throwing it out.)
If there is a winner of messing up on the world stage, it would have to go to the Bitcoin holder who threw away millions.
In 2013, when Bitcoin traded between $50 and $1,242 per token, an unfortunate man discarded a hard drive containing the private key for 8,000 Bitcoins. Fast forward to Dec. 30, 2024, with Bitcoin priced at $92,562 per token, that lost stash is now worth $740,496,000. While it falls short of landing him on the Forbes Billionaire list, it&#8217;s still more than enough to afford a luxurious penthouse on Park Avenue in New York City or in Dubai.
But lo and behold — spoiler alert — it turns out his ex-girlfriend actually threw the hard drive out, per his request to help him tidy up his house, according to a Daily Mail <a href="https://www.dailymail.co.uk/news/article-14117759/threw-away-569million-Bitcoin-fortune-council-tip.html">article</a>. Probably not one of the best decisions he's ever made.
2. &#8220;<a href="https://www.benzinga.com/general/entertainment/24/09/40758484/nba-legend-shaq-shows-off-his-new-widebody-carbon-fiber-tesla-cybertruck-elon-musk-has-a-on">NBA Legend Shaq Shows Off His New Widebody Carbon Fiber Tesla Cybertruck: Elon Musk Has A One Word Reaction</a>,&#8221; by Rounak Jain, published Sept. 7.
Shaq likes cars. He has around 40 vehicles, with a good portion of them customized — it could be that he is 7 feet 1 inches tall or perhaps he just likes to add a personal touch, such as a Superman "S" log on the front of his black Range Rover, according<a href="https://www.gamedaynews.com/athletes/shaqs-massive-vehicle-collection"> to</a> GameDay News. Car aficionado that he is, Shaq of course had to have a Cybertruck. But not just any Cybertruck. Customized by Effortless Motors, the vehicle, dubbed "Cyberbeast," has a wide body kit and carbon fiber construction, as well as 26-inch rims and a black-on-black color scheme. 
Musk weighed in on it on X, saying it was "Nice." Compliment or shade? Only Musk knows for sure. 
3. &#8220;<a href="https://www.benzinga.com/news/24/09/41059891/elon-musk-says-because-almost-none-of-you-do-your-math-sums-the-world-is-largely-not-using-the-big-f">Elon Musk Says That World Isn't Using The Sun's Energy Enough Because Most People Don't Do The Math</a>,&#8221; by Benzinga Neuro,&nbsp;published Sept. 26
Is it even a Benzinga Top 5 Articles of the Year if there isn&#8217;t more than one article featuring Musk? No! (See <a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30219131/benzingas-top-5-articles-for-2022-aka-the-year-your-grandparents-found-out-who-elon-musk-i">"Benzinga&#8217;s Top 5 Articles For 2022 — AKA The Year Your Grandparents Found Out Who Elon Musk Is" </a>as a sample of the Musk-omnipresence.)
Musk touts solar energy with some interesting facts, such as he "suggested that the amount of solar energy received by Earth could <a href="https://www.benzinga.com/news/23/02/30973037/elon-musk-says-this-energy-source-can-power-a-civilization-over-100-times-larger-than-ours">power a civilization</a> 100 times larger than ours." 
Solar is an industry that has had a bumpy to bad year: the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) is down around 36% year-to-date, for example. 
But let's not forget that Musk's Tesla also makes Powerwall battery storage, which can store energy either solar or from the electrical grid. Solar energy plus Powerwall, equals more money for Tesla. It's all in the math, so to speak.
4.  &#8220;<a href="https://www.benzinga.com/general/entertainment/24/08/40413674/nba-legend-shaq-missed-his-tesla-cybertruck-so-much-instead-of-shipping-it-from-vegas-to-at">NBA Legend Shaq Missed His Tesla Cybertuck So Much, Instead of Shipping it from Vegas to Atlanta, He Reportedly Ordered One More,&#8221;</a> by Rounak Jain, published Aug. 16
Yes, indeed, Shaq's love for the Cybertruck had him make a decision only a multimillionaire, former NBA player could do: buy another Cybertruck when he didn't want to ship it from one location to another. 
Musk also chimed in X on this, saying "Understandable." Could Shaq be poised to have a Cybertruck in every major U.S. city?
5. <a href="https://www.benzinga.com/news/24/09/40971831/putin-ally-who-unveiled-tesla-cybertruck-with-machine-gun-last-month-now-says-elon-musk-remotely-dis">Putin Ally Who Unveiled Tesla Cybertruck with Machine Gun Last Month Now Says Elon Musk ‘Remotely Disabled' the Militarized EV</a>, by Bibhu Pattnaik, published Sept. 22
On the flip side of customization, Chechen warlord&nbsp;Ramzan Kadyrov&nbsp;accused Musk of remotely disabling his Cybertruck.&nbsp;
Why, you may ask? This Vladimir Putin ally (and colonel general in the Russian army) Kadyrov decided to mount a machine gun on the Cybertruck, hinting that it would be used in the war against Ukraine.
Kadyrov also stated in a <a href="https://t.me/RKadyrov_95/5103">Telegram</a> post the vehicle was a gift from Musk, saying "Elon Musk behaved badly. He gives expensive gifts from the heart, and then turns them off remotely." 
Musk <a href="https://www.benzinga.com/news/24/08/40434114/elon-musk-denies-donating-tesla-cybertruck-to-ramzan-kadyrov-after-russian-general-showed-off-truck">strongly denied he gifted </a>the vehicle to Kadyrov.&nbsp;
There is one practical theory on why the car could have become disabled — a lack of charging stations on the battlefield, something pointed out by <a href="https://www.benzinga.com/news/24/08/40504595/military-expert-calls-russian-president-allys-tesla-cybertruck-super-cool-but-useless-combat-vehicle">one international relations expert</a>.
<h1 class="wp-block-heading">And just in case you were wondering….</h1>
6. <a href="https://www.benzinga.com/news/24/08/40131648/anthony-scaramucci-says-trump-could-drop-his-presidential-bid-against-kamala-harris-if-this-happens">&#8220;Anthony Scaramucci Says Trump Could Drop His Presidential Bid Against Kamala Harris If This Happens: ‘I Know How This Man Thinks,&#8220;</a> by Shanthi Rexaline, published Aug. 2 7. &#8220;<a href="https://www.benzinga.com/general/entertainment/24/09/40971563/nba-legend-shaq-once-found-a-wallet-in-beverly-hills-usually-when-i-find-wallets-i-just-tak'">NBA Legend Shaq Once Found A Wallet In Beverly Hills: &#8216;Usually When I Find Wallets I Just Take All The Money Out&#8217; — But This One Was David Beckham's, So Here's What He Did</a>,&#8221; by Chris Katje, Sept. 22
8. &#8220;<a href="https://www.benzinga.com/news/24/09/40935722/spacex-ceo-elon-musk-says-anyone-can-go-to-mars-with-spacex-but-journey-would-be-like-a-long-sea-voy">SpaceX CEO Elon Musk Says Anyone Can Go To Mars With SpaceX But Journey Would Be Like A &#8216;Long Sea Voyage In Centuries Past,&#8221;</a> by Anan Ashraf, published Sept. 19
9. &#8220;<a href="https://www.benzinga.com/news/24/10/41196932/legendary-apple-co-founder-steve-jobs-once-said-being-the-richest-man-in-the-cemetery-doesnt-matter">Legendary Apple Co-Founder Steve Jobs Once Said, &#8216;Being The Richest Man In The Cemetery Doesn&#8217;t Matter To Me:&#8217; Maybe That&#8217;s Why His Impact Transcends Financial Success For iPhone-Maker And Beyond,</a>&#8221; by Ananya Gairola, published Oct. 5
10. &#8220;<a href="https://www.benzinga.com/news/24/09/40673148/t-mobile-customers-will-get-starlink-satellite-internet-directly-on-their-mobiles-first-and-others-o">T-Mobile Customers Will Get Starlink Satellite Internet Directly On Their Mobiles First And Others Only Later, Says SpaceX CEO Elon Musk</a>,&#8221; by Anan Ashraf, published Sept. 2
These articles were originally published in 2024 by the news department. Some were written with the help of artificial intelligence. 
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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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Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) introduced a new DIY permit plan <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41876565/enphase-energy-unveils-ai-powered-diy-permitting-feature-for-solargraf-slashing-solar-permit-plan-" rel="noreferrer noopener">feature on its Solargraf platform</a>.
This feature automates the complex permitting process for solar and battery installations using AI and machine learning, reducing permit preparation time by up to 95% for U.S. installers.
The new DIY permit plan feature makes Solargraf a complete end-to-end platform for solar and battery system design, proposals, and permitting. This tool helps installers improve productivity and reduce costs by streamlining workflows and shortening cycle times.
Jayant Somani, senior vice president of the digital business unit at Enphase Energy, said, &#8220;With more than 300 permit plans already generated across more than 50 AHJs, the new DIY permitting feature is proven to streamline the solar permitting process and empower installers to operate more efficiently, delivering exceptional service to homeowners.&#8221;
Ryan Hurlock, co-founder of Magic Sun Solar, added, &#8220;We can now use a single software application to manage the full life cycle of the job beginning with the proposal creation through the system design phase. We are excited to start using this new feature to trim our workflow and give our customers an even more seamless experience, which is unique in the market.&#8221;
Last month, &nbsp;the company reported worse-than-expected financial results for the third quarter, with revenue of&nbsp;$380.9 million missing the&nbsp;estimate of $391.979 million and EPS of 65 cents coming <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41488921/enphase-energy-stock-is-diving-wednesday-whats-going-on" rel="noreferrer noopener">below the estimate of 77 cents</a>.
Also as per a regulatory <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1463101/000146310124000145/enph-20241107.htm" rel="noreferrer noopener">filing </a>last week, Enphase Energy notified its employees of a restructuring plan on November&nbsp;7, that it will reduce headcount and move certain functions to cost-efficient regions, affecting approximately 17% of its global workforce &#8211; approximately 500 employees and contractors.
In addition, the company will streamline its operations by focusing on contract manufacturing in four existing locations: two in the U.S., one in India, and one in China. It will also cease its contract manufacturing operations in Guadalajara, Mexico.
The company estimates that it will incur approximately $17 million to $20 million in restructuring and asset impairment charges, of which approximately $14 million are expected to be incurred in the fourth quarter of 2024 and approximately $11 million to $12 million will be total cash expenditures.&nbsp;
Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Price Action: ENPH shares are down 4.56% at $63.85 at the last check Monday.
Photo via Shutterstock
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With Donald Trump now president-elect and Republicans likely to control Congress, clean energy stocks <a href="https://www.benzinga.com/topic/esg">are taking a beating</a>.
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) dropped over 9% last week, dragging it to levels last seen in July 2020. From its January 2021 peak, the TAN ETF is now down more than 70%. 
Renewables have also been rattled. The Invesco Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBD#NYSE">PBD</a>) slid over 5% to hit lows not seen since April 2020.
Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>)&nbsp;saw its stock plummet by 45% last week, marking its worst week since its IPO in July 2019. Similarly, SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>)&nbsp;dropped 23%, reaching all-time lows.
First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) has fallen to a valuation of just 10 times forward earnings—its cheapest in over four years.
Is this a buying opportunity at depressed valuations, or is the worst yet to come?
<h3 class="wp-block-heading">Trump's Anti-Green Policy Stance</h3>
"We expect rhetoric regarding environmental policy and the sustainability of the [Inflation Reduction Act] to be elevated, which could likely lead to continued volatility in stocks in the Green Capex supply chain, particularly pure-play solar/wind stocks," Goldman Sachs analyst Brian Singer explained in a note Friday.
Expect the incoming Trump administration to prioritize easing tailpipe emission regulations and increase resource development on federal land. 
One of the biggest questions for investors is the future of the Inflation Reduction Act (IRA), which has provided significant tax incentives for solar, wind, and other renewable energy projects. 
While Trump and the GOP have expressed skepticism about green subsidies, Goldman Sachs analysts still indicated the IRA could survive in some form due to its broad economic impact.
Goldman Sachs' Singer highlighted that &#8220;the job creation, reshoring, and/or environmental benefits of IRA tax incentives could limit policymakers&#8217; interest in making material incentive revisions.&#8221; Despite Republican opposition, the IRA's solar and wind tax credits have been economically beneficial across various regions, creating a sticking point for politicians wary of hurting local economies.
Potential scenarios for the IRA under Trump include:
<ol>
<li>Full Repeal: This would be the most drastic outcome, likely causing significant disruption in the green energy sector.</li>
<li>Reversion to Pre-IRA Incentives: In this scenario, incentives would roll back to pre-IRA levels, which could still allow some projects to proceed, albeit at a higher cost.</li>
<li>Early Termination: A more moderate approach, setting an earlier end date for current incentives.</li>
</ol>
<h3 class="wp-block-heading">Green Energy vs. Energy Alternatives: A Cost Battle</h3>
Goldman Sachs&#8217; analysis suggests that even without IRA support, solar and wind power could remain cost-competitive with natural gas, though with a slight &#8220;Green Premium.&#8221; 
This means the green sector may stay resilient, but some renewable firms could see a dip in earnings as they adjust to potential shifts in federal support.
<h3 class="wp-block-heading">A Bright Spot: Big Tech And Rising Power Demand</h3>
Global data center power demand is expected to skyrocket by 165% by 2030. 
Tech giants like Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) have expressed support for low-carbon energy solutions, a trend that may buffer the renewable sector against policy headwinds.
Goldman's utilities team projects a 2.4% CAGR in U.S. power demand through 2030, the highest growth rate since the 1990s.
Despite potential policy turbulence, there's a shift underway in the world of ESG investing. &#8220;We have observed a back-to-basics move in the direction of pragmatism,&#8221; says Goldman Sachs, noting that investors are increasingly focused on "materiality-driven links to fundamentals and performance." 
This approach could make sustainable investing less vulnerable to political shifts. Asset managers may seek clearer connections between ESG factors and financial returns.
<h3 class="wp-block-heading">Should You Buy the Dip in Solar Stocks?</h3>
For investors, the question is whether solar stocks are oversold or if more pain lies ahead.
Companies like First Solar are trading at four-year low valuations and almost single-digit price-to-earnings. Some traders might see an opportunity for long-term gains.
The decision boils down to one's risk tolerance and belief in the resilience of the green energy theme.
Buy now, and you might secure a piece of a sector that's critical to the future. Wait, and you may miss out on a potential recovery rally—assuming Trump's policies don't squeeze renewables into oblivion.
Yet, one thing seems assured: The path forward for this sector will likely be volatile under the new administration. 
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Editor: The title of the story has been updated to reflect the amount of impairment charge.
SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) shares are trading lower after the company reported third-quarter results yesterday. Revenues were $260.9 million, <a href="https://www.benzinga.com//node/41786579">missing the consensus of $269.38 million.</a>
Revenues from the solar segment were&nbsp;$247.5 million, up&nbsp;3%&nbsp;from&nbsp;$241.2 million&nbsp;in the prior quarter and down&nbsp;63%&nbsp;from&nbsp;$676.9 million&nbsp;in the same period last year.
The company shipped&nbsp;850 Megawatts (AC) of inverters and 189 MWh of batteries for PV applications in the quarter.
Adjusted gross margin&nbsp;was negative 265.4% versus a&nbsp;positive margin of&nbsp;0.2%&nbsp;in the prior quarter and compared to&nbsp;20.8%&nbsp;last year.
Adjusted operating loss stood at&nbsp;$808.1&nbsp;million versus an adjusted operating loss of&nbsp;$114.3&nbsp;million&nbsp;last quarter.
Adjusted loss per share of&nbsp;$15.33&nbsp;may not be comparable to <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the consensus loss of&nbsp;$1.63</a>.
Operating cash flow was negative&nbsp;$63.9&nbsp;million in the quarter. As of September 30, cash, cash equivalents, bank deposits, restricted bank deposits, and marketable securities&nbsp;totaled&nbsp;$53.3&nbsp;million.
In the third quarter, SolarEdge conducted an asset valuation review, which resulted in a $1.03 billion write-down and impairment of various assets.
Outlook: For&nbsp;the&nbsp;fourth quarter, the company expects revenue of&nbsp;$180&nbsp;million &#8211; $200 million (versus&nbsp;consensus of&nbsp;$308.66 million), revenues from the solar segment of&nbsp;$170&nbsp;million &#8211; $190 million, and adjusted gross <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">margin of&nbsp;negative&nbsp;4%&nbsp;&#8211;&nbsp;0%</a>.
Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>).
Price Action: SEDG shares were down 17.3% at $12.13 premarket at the time of writing on Thursday. The stock has recouped all losses and is up 0.31% to $14.73 at the time of update as of 14.15.
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An &#8220;everything rally&#8221; powered Wall Street on Wednesday after the 2024 election results, with Donald Trump emerging as the clear presidential winner. The Republican Party reclaimed control of the Senate, while the House of Representatives leans Republican <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41778433/s-p-500-dow-hit-record-highs-after-trump-win-fear-index-drops-20">but remains undecided.</a>
The major U.S. equity indices – the S&amp;P 500, Dow Jones Industrial Average, and Nasdaq 100 – surged to record highs in early trading, as investor optimism grew on expectations of more favorable tax policies. 
The S&amp;P 500, Nasdaq, and Dow posted gains of 2.3%, 2.4%, and 3.3%, respectively.
However, the real standouts were small caps and bank stocks, with investors turning to domestic businesses and U.S. banks in anticipation of potential tariff protections and further financial deregulation. 
The Russell 2000 jumped 5.5%, marking its largest single-day increase in two years. 
Large-cap bank stocks climbed 6%, while regional banks tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) soared 13%—both seeing their biggest one-day gains since November 2020, when the first COVID-19 vaccine was announced.
Clean energy stocks were among the day's worst performers, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) plunging 11% for its steepest drop since March 2020, as investors braced for potential rollbacks on green initiatives under the Trump administration.
In the foreign exchange market, the U.S. dollar initially rallied nearly 2% before paring gains to 1.4% as traders awaited a Federal Reserve interest rate cut on Thursday.
Treasury yields spiked as expectations rose for larger budget deficits under Republican fiscal policies and higher inflation due to potential tariffs. The 10-year Treasury yield climbed 14 basis points to 4.41%, reaching a four-month high.
Gold prices fell 2.8%, silver dropped over 4%, while natural gas rose 3.8%. Oil prices remained steady.
In the cryptocurrency market, risk appetite thrived, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rising over 8% to reach a record high of $75,000. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) gained 10%, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged 14%, the strongest performance among the top 10 cryptocurrencies.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, Sectors</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,388.20</td>
<td>5.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,739.86</td>
<td>3.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,740.09</td>
<td>2.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,922.98</td>
<td>2.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. ET</figcaption></figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-day % chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials</td>
<td>6.0%</td>
</tr>
<tr>
<td>Energy</td>
<td>4.0%</td>
</tr>
<tr>
<td>Industrials</td>
<td>3.9%</td>
</tr>
<tr>
<td>Cons. Discretionary</td>
<td>2.9%</td>
</tr>
<tr>
<td>Technology</td>
<td>2.7%</td>
</tr>
<tr>
<td>Communications</td>
<td>1.9%</td>
</tr>
<tr>
<td>Materials</td>
<td>1.8%</td>
</tr>
<tr>
<td>Health Care</td>
<td>0.3%</td>
</tr>
<tr>
<td>Utilities</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Cons. Staples</td>
<td>-1.7%</td>
</tr>
<tr>
<td>Real Estate</td>
<td>-3.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 2.4% to $590.30.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rallied 3.5% to $437.05.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 2.5% to $504.69.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) spiked 5.6% to $236.23.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, rising 6%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 3.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports were: 
<ul>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), up 2%, </li>
<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), up 1.8%, </li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), down 22%, </li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), up 12%,</li>
<li>DBA Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>), up 5.8%, </li>
<li>American Electric Power Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>), down 3%, </li>
<li>Cencora Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>), up 5.5%, </li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>), up 10.7%, </li>
</ul>
Major companies moving in reaction to election results were: 
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), up 14.8%, </li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), up 14.4%, </li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 13.1%, </li>
<li>Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), up 13.1%, </li>
<li>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), up 12.9%. </li>
</ul>
The rallies in the stock and crypto markets drove shares of Robinhood Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) up by 18% and 26%, respectively.
Major losers among clean energy stocks included Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), down 16.7% and 10.5%, respectively. 
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41781115/stock-of-the-day-trump-media-technology-hits-resistance-reverses-and-trends-lower">Stock Of The Day: Trump Media &amp; Technology Hits Resistance, Reverses And Trends Lower</a></li>
</ul>
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Trump's Win Sends Indices To Record Highs; Financials, Small Caps Surge, Bitcoin Tops $75,000: What's Driving Markets Wednesday?

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

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

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

ALAB

FANG

HOLX

ILMN

NXPI

PLTR

VRTX

YUMC

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

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

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

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

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