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The volatility in the markets has reversed due to growing expectations of interest rate cuts, with inflation data paving the way for a possible cut on Sept. 18.

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

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Wall Street witnessed a broad sell-off on Wednesday, except for the tech sector, as investor optimism over disinflation progress cooled following a mixed August inflation report.

Stocks Fall As Inflation Data Chills Rate-Cut Excitement, Chipmakers, Solar Sector Soar On Harris-Linked Boost: What&#39;s Driving Markets Wednesday?

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First Solar shares are pushing higher Wednesday as solar stocks climb following Tuesday night&#39;s debate between Vice President Kamala Harris and Donald Trump. Here&#39;s what to know:

What&#39;s Going On With First Solar Stock?

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Tantalus Systems Holding Inc

The volatility that dominated markets in the early part of the month sharply reversed in the past week, driven by growing expectations of interest rate cuts that have bolstered investor risk appetite.
The latest batch of inflation statistics for August have given the green light for the Federal Reserve to proceed with an interest rate cut, which is highly likely to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">occur on Sept. 18.</a>
The remaining question concerns the size of the cut — whether it will be 25 basis points or 50 basis points — though market consensus and recent comments from Fed officials suggest the more conservative 25 basis points is the likely scenario.
Risk assets experienced a significant rebound, with the S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), recovering losses from the prior week and notching five straight days of gains. A similar picture emerged for the Nasdaq 100, which marked the best week since October 2023.
Treasury yields fell substantially and the dollar weakened, driving the price of gold to <a href="https://www.benzinga.com/markets/equities/24/09/40833654/gold-reaches-record-high-as-dollar-weakens-on-soft-producer-inflation-data-wall-street-eyes-four">fresh all-time highs.</a>
Additionally, the week saw the first televised debate between Vice President Kamala Harris and former President Donald Trump, with polls indicating Harris outperformed, <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">further widening her lead.</a>
<h1 class="wp-block-heading">You Might Have Missed…</h1>
<h1 class="wp-block-heading">Gold Miners Surge</h1>
Gold mining stocks, as monitored through the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), rallied this week, marking on Thursday their best one-day performance in six months as gold prices hit new record highs. A macro strategist highlighted striking similarities between today&#8217;s economic landscape <a href="https://www.benzinga.com/markets/equities/24/09/40838414/gold-miners-eye-best-1-day-rally-in-6-months-as-gold-hits-fresh-record-highs-todays-environment-">and the turbulent 1970s.</a>
<h1 class="wp-block-heading">VP Harris Boosts Solar</h1>
Solar stocks, tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), surged as Vice President Harris emerged as the clear winner in her debate with Trump, bolstering confidence in clean energy policies. Several leading renewable energy companies saw <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">sharp gains this week.</a>
<h1 class="wp-block-heading">Small Cap Rally</h1>
In an exclusive interview with Benzinga, a Lazard small-cap expert forecasted a 30-50% rally in the Russell 2000, fueled by declining interest rates and strengthening economic conditions. With the Federal Reserve poised to begin a rate-cutting cycle, small-cap stocks are anticipated to outperform, closing the performance gap <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40794070/exclusive-lazard-small-cap-expert-predicts-30-50-russell-2000-rally-on-the-back-of-">with larger-cap counterparts.</a>
<h1 class="wp-block-heading">Autonomous Vehicle Growth</h1>
U.S. autonomous vehicle sales are projected to reach 230,000 units by 2034, following renewed progress at Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo and General Motors Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Cruise. Advancements in technology and regulatory approvals are expected to drive the industry forward, boosting consumer <a href="https://www.benzinga.com/news/24/09/40792410/us-autonomous-vehicle-sales-to-hit-230k-by-2034-after-progress-resumes-at-alphabets-waymo-gms-cruise">adoption and market penetration.</a> Read Next: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40861742/nasdaq-100-posts-biggest-weekly-rally-in-almost-a-year-as-fed-rate-cut-hopes-grow-top-"> • Nasdaq 100 Posts Biggest Weekly Rally In Almost A Year As Fed Rate Cut Hopes Grow: Top 7 Tech Stocks Of The Week</a> 
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference on Oct. 9-10, 2024</a>,&nbsp;at the Chicago Marriott Downtown Magnificent Mile.
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Secure your spot and get your tickets today!</a>
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Wall Street witnessed a broad sell-off on Wednesday, except for the tech sector, as investor optimism over disinflation progress cooled following a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">mixed August inflation report.</a>
The Consumer Price Index (CPI) rose 2.5% year-over-year, slightly below the 2.6% estimate and down from July&#8217;s 2.9%, marking the slowest pace of inflation since February 2021. The bulk of this decline came from energy-related categories.
However, core inflation — excluding the more volatile components like food and energy — rose 0.3% month-over-month, surpassing expectations of 0.2%. The annual core CPI remained at 3.2%, reflecting persistent inflation in service-related sectors.
A key driver of inflation continues to be shelter costs, which rose 0.5% from the previous month—the sharpest increase since January — and account for nearly a third of the total CPI.
The report dashed hopes for a Federal Reserve rate cut in the upcoming meeting. Market expectations for a 50-basis-point cut plummeted to just 13%, down from 34% the day before, as per CME FedWatch. 
The inflation data gave the U.S. dollar a lift and nudged Treasury yields higher across the board. Sectors most sensitive to interest rates, such as real estate, materials and financials, led the sell-off.
In contrast, tech stocks defied the broader market slump, driven by strong gains in the semiconductor space. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 4.5%, buoyed by the market's reaction to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40817347/donald-trump-lost-debate-to-kamala-harris-will-lose-ground-in-the-polls-polymarket-traders">latest U.S. presidential debate</a> between Vice President Kamala Harris and former President Donald Trump. 
The two candidates engaged in a back-and-forth about <a href="https://www.benzinga.com/general/politics/24/09/40731719/goldman-sachs-kamala-harris-victory-bodes-well-for-us-economy-trump-tariffs-will-drive-up-inflat">tariffs on goods</a>, which would impact inflation and the chipmaking industry.
Solar stocks also rallied, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) jumping over 4%, as the prospect of a Harris administration increased <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">optimism for renewable energy policies.</a> First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) was the top performer within the industry, jumping over 12%. 
Elsewhere, gold remained flat, while oil prices rebounded over 2% after Tuesday&#8217;s sell-off. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped more than 2%.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,865.96</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,476.37</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,092.21</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,436.47</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $547.10.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.7% to $405.59.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $459.93.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $207.30.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) was the laggard, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Lithium-related stocks surged on Wednesday after reports of production disruptions in China sent the price of the commodity climbing. Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), one of the world&#8217;s largest lithium producers, rallied 9.7% on the news.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) surged 8.6% to $93.63 after Bank of America analyst Omar Dessouky reiterated a Buy rating and raised the price target from $100 to $120.</li>
<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rallied 8.1% amid bullish remarks from Bank of America analyst John Murphy, CFA who expects the Gravity SUV to get a large total addressable market.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) tanked 13.8% as revenue missed expectations last quarter. </li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) plummeted 12.8% in reaction to the presidential debate. </li>
</ul>
Now Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a></li>
</ul>
Image: Shutterstock

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

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

What's Going On With First Solar Stock?

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

Politics

ARRY

CSIQ

SHLS

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

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

Analyst Color

Long Ideas

Specialty ETFs

Markets

Analyst Ratings

Trading Ideas

ENPH

NOVA

SPWRQ

TSLA

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

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

Government

First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index Fund

GRID

iShares S&P Global Clean Energy Index Fund

ICLN

VWDRY

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

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

ARHS

BLDR

EGBN

iShares Dow Jones US Homenstruction Index Fund

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

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

COAL

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

The summer of 2024 <a href="https://www.benzinga.com//node/40112086">keeps on breaking temperature records</a>.
Globally, July 2024 was the second hottest July in history after July 2023, according to a Thursday report by the European Union&#8217;s Copernicus Climate Change Service.
Global averages take into consideration the entire world's temperature, including the Southern Hemisphere, where winter occurs between June and September.
This July was cooler than last year's by just approximately 1 degree Farenheit (0.04 degrees Celsius), yet it was the hottest month on record for some regions, including the Western U.S. and Canada, as well as most of Africa, the Middle East and Asia.
Having a slightly less warm July than last year is no cause for celebration. July 2024 was the first time in 13 months that average temperatures didn't beat the previous historical record for that month and it hosted the two hottest days on record globally.&nbsp;
&#8220;We are not done with temperature records causing heatwaves &#8230; We know this long-term warming trend can be, with a very high level of confidence, related to the human impact on climate,&#8221; said Julien Nicolas, a climate researcher with Copernicus, to Reuters.
 July 2024 was on average 2.7 degrees Fahrenheit (1.48 degrees Celsius) higher than pre-industrial levels on a global basis. 
In California, this July was the hottest month on record, with an average statewide temperature of 81.5 degrees Fahrenheit (27.5 degrees Celsius), beating the previous record of 79.8 degrees Fahrenheit (26.5 degrees Celius) set in July 2021, the San Francisco Chronicle <a href="https://www.sfchronicle.com/weather/article/record-hottest-july-california-19621377.php">reports</a>.
Death Valley, known for holding the record for the hottest place on earth, recorded its hottest month in history during July. The Death Valley National Park registered a 24-hour average of 108.5 degrees Fahrenheit (42.5 degrees Celsius) and a daily peak average of 121.9 degrees Fahrenheit (50 degrees Celsius).
Needles, a small town in California, dethroned Phoenix, Arizona as the hottest urban center in the country, with an average monthly temperature of 103.2 degrees Fahrenheit (39.5 degrees Celsius).
Read Also: <a href="https://www.benzinga.com//node/39804299">Scorching Heat Breaks Records, But 2024 Election Outcome May Hold Worker Protections Hostage</a>
<h1 class="wp-block-heading">Rising Temperatures: Stocks To Watch</h1>
The rising temperatures present an opportunity for investors, who might look at companies and sectors expected to grow in an increasingly warm Earth.
Companies producing air-conditioning units are first in line. Rising temperatures <a href="https://www.benzinga.com//node/39463207">will increase the need for air conditioning</a>. Companies in this sector may also see an increase in sales due to worsening air quality in major urban centers.
Valued at $138 billion in 2022, the air-conditioner market is expected to grow to $253 billion by 2031, according to a report by SkyQuest. This includes an average yearly growth of almost 7% between 2024 and 2031.
In North America, the total market for air-conditioners currently stands at $24.6 billion and is expected to reach $35.6 billion in 2030, as per a GrandView Research report.
<ul>
<li>Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares recovered this week from <a href="https://www.benzinga.com/news/24/08/40169330/nvidia-microsoft-apple-amazon-erase-1-1-trillion-in-monday-sell-off-bubble-burst-or-market-correctio">the recent stock sell-off</a> and are up 17% in the last six months.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) is one of the largest producers of air-conditioners. Its shares have underperformed the market in recent periods although the company leads about 25% of the home appliance market in the U.S. In June, German appliance maker Bosch <a href="https://www.benzinga.com/markets/equities/24/06/39532615/bosch-bid-hype-fades-but-analyst-sees-whirlpools-potential">revealed interest in acquiring Whirlpool</a>, though a bid has not been confirmed. The company is down 10.7% on the month.</li>
<li>Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) is trading at a discount. The company recovered 4.7% on Thursday after experiencing a 10.9% drop since August began.</li>
</ul>
Companies producing weather insulation for residential and commercial buildings also stand to grow from rising temperatures.
Some of the largest public companies in this business include Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), TopBuild Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>) and Beacon Roofing Supply Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>).
An indirect consequence of global warming is a shift in consumer preferences towards non-emitting sources of energy, as greenhouse gas emissions from fossil fuels represent some of the largest contributors to global warming.
There are several ETFs following the green energy sector.
<ul>
<li>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) has performed poorly since January, down over 9% year-to-date.</li>
<li>First Trust NASDAQ Cln Edge Smart Grid Infra Ix Fd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) yielded much better performance and is up 9.5% since January.</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) is down 22.8% since January.</li>
</ul>
Individual companies in the clean energy sector have performed better in recent times than some of its ETFs.
<ul>
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) is up 48.7% in the last six months.</li>
<li>GE Vernova Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), a recent spin-off from General Electric, went public in March and its stock is up 34% since then.</li>
<li>Constellation Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) has been one of the best performers in the clean energy sector, up 61% since January.</li>
</ul>
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<li><a href="https://www.benzinga.com//node/40095631">Researchers Identify &#8216;Trump Dump&#8217; Effect: Ex-President Is Already Causing Deep Stock Losses In Companies And Industries He Targets</a></li>
</ul>
This image was created using the artificial intelligence Midjourney.

General

BECN

CARR

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

Enphase Energy, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares are trading higher today. The company introduced its new North American Charging Standard (NACS) connectors for<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40249721/enphase-energy-introduces-nacs-connectors-for-iq-ev-chargers-in-the-united-states-and-canada" rel="noreferrer noopener"> its entire IQ EV Charger lineup</a>.
These NACS connectors have recently become the industry standard, gaining acceptance from several major electric vehicle (EV) manufacturers.
Notably, Enphase introduced its IQ EV Chargers last year with J1772 connectors. The new IQ EV Chargers, now featuring NACS connectors, will enhance vehicle compatibility while retaining all existing features.
Enphase IQ EV Chargers with NACS connectors are compatible with NACS-enabled EVs.
John Black, owner of Black Platinum Solar &amp; Electric, an installer of Enphase products in Arizona said, &#8220;The IQ 80 EV Charger is the highest power NACS charger in the market that we&#8217;re aware of, and the reliability and 5-year warranty make it a great long-term investment.&#8221;
&#8220;The fact that homeowners can charge from Enphase solar energy systems is great for customers looking to better manage their electricity bills and reduce charging from fossil fuels. It&#8217;s not just about charging; it&#8217;s about enhancing the entire EV experience.&#8221;
Last month, Enphase Energy missed analyst estimates on the top and bottom lines, with Q2 revenue of&nbsp;$303.46 million vs.&nbsp;estimates of $309.67 million and EPS of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39934603/whats-going-on-with-enphase-energy-stock-wednesday" rel="noreferrer noopener">$0.43 vs. estimates of $0.48</a>.
Investors can gain exposure to the stock via&nbsp;Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and&nbsp;Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Price Action: ENPH shares are up 4.77% at $108.35 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/40253133" target="_blank" rel="noreferrer noopener">Solar Industry Headwinds Hit SolarEdge Hard: Q2 Results Disappoint</a></li>
</ul>

RAYS

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

SolarEdge Technologies, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) shares are trading lower after it reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40232435/solaredge-announces-second-quarter-2024-financial-results" rel="noreferrer noopener">second-quarter&nbsp;FY24 results</a>.
Revenues of&nbsp;$265.4 million, beating the consensus of&nbsp;$262.3 million. Revenues from the solar segment stood at&nbsp;$241.2 million, down&nbsp;75% Y/Y, in the quarter.
Adjusted gross margin&nbsp;was 0.2% versus 32.7%&nbsp;in the prior year quarter. Adjusted operating loss stood at&nbsp;$114.3&nbsp;million versus an adjusted operating income of&nbsp;$191.0 million&nbsp;in the same quarter last year.
Adjusted EPS loss of&nbsp;$1.79&nbsp;missed<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> the consensus loss of&nbsp;$1.58</a>.
Operating cash flow was negative&nbsp;$44.8&nbsp;million in the quarter. As of June 30, 2024, cash, cash equivalents, bank deposits, restricted bank deposits, and marketable securities&nbsp;totaled&nbsp;$165.3&nbsp;million, net of debt.
In the&nbsp;second quarter&nbsp;of 2024, the company bought back 247,468 shares worth around&nbsp;$17 million.
Outlook: For&nbsp;the&nbsp;third quarter, the company sees revenue of&nbsp;$260 million-$290 million (vs.&nbsp;consensus of&nbsp;$359.93 million), revenues from the solar segment of&nbsp;$245 million-$280 million, and adjusted gross margin <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">of&nbsp;negative 3% to positive 1%</a>.
Zvi Lando, Chief Executive Officer of SolarEdge said, &#8220;While we expect undershipping to continue in the third quarter, we believe the momentum in our underlying business and the actions we are taking to gain market share and address new growth segments will enable a return to higher revenue levels once inventories are cleared in the first half of 2025.&#8221;
Last month, SolarEdge Technologies laid off 400 employees, with 200 cuts in Israel, due to a <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39774515/solaredge-cuts-400-more-jobs-in-2024-navigating-market-woes-and-inventory-challenges" rel="noreferrer noopener">market downturn and excess inventory</a>.
Investors can gain exposure to the stock via&nbsp;Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and&nbsp;Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39485177/solaredge-stock-falls-as-analysts-react-to-300-million-private-offering" rel="noreferrer noopener">SolarEdge Stock Falls As Analysts React To $300 Million Private Offering</a>
Price Action: SEDG shares are down 19.4% at $19.03 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Andreas from Pixabay
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40207116/sunpower-bankruptcy-could-make-solar-industry-a-bit-healthier-investor-says" target="_blank" rel="noreferrer noopener">SunPower Bankruptcy Could Make Solar Industry &#8216;A Bit Healthier,&#8217; Investor Says</a></li>
</ul>
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a target="_blank" href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!

Guidance

Solar Industry Headwinds Hit SolarEdge Hard: Q2 Results Disappoint

The Biden administration&#8217;s doubling of the U.S. tariff on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39030415/why-first-solar-is-a-must-watch-stock-in-the-ai-era">Chinese solar panels </a>is key to protecting the domestic market from China&#8217;s predatory behavior, says Mark Widmar, CEO of First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>).
First Solar is expected to report second-quarter earnings after Tuesday&#8217;s market close, more than two months after the Biden administration announced that the tariff on Chinese solar panels would increase to 50%.
&#8220;What we&#8217;re trying to do is make sure that we have a level playing field so that all U.S. companies who manufacture here in the U.S. have an opportunity to compete on their own merits,&#8221; Widmar said on Monday during an <a href="https://www.msn.com/en-us/money/markets/first-solar-ceo-mark-widmar-latest-us-tariffs-on-china-creates-level-playing-field/vi-BB1qPATo">interview</a> with CNBC.
&#8220;This is just one of many tools that&#8217;s already part of the overall policy environment that we think is instrumental to ensure that there&#8217;s a level playing field and there&#8217;s opportunities for cycles of innovation to happen here in the U.S. and ultimately support of long term energy independence and security.&#8221;
China is flooding solar panel markets in the U.S. and other countries with less expensive panels because it has an oversupply that is four times the demand in its own country, he said.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40016174/justin-sun-urges-china-to-reconsider-crypto-policies-as-donald-trump-promises-bitcoin-stoc">Justin Sun Urges China To Reconsider Crypto Policies As Donald Trump Promises Bitcoin Stockpile</a>
&#8220;Right now, they&#8217;re dumping that product into international markets and doing that is creating an unfair competitive advantage and devastating others that are trying to compete and create self-sufficiency around this emerging technology that we think we need here in the U.S. and other markets,&#8221; Widmar said.
&#8220;Someone has to step back and reflect upon what China&#8217;s predatory behavior is doing.&#8221;
The U.S. has a bloated inventory of more than 30 gigawatts of solar panels, in great part due to China &#8220;dumping&#8221; solar panels into the U.S. market, Widmar said.
Beijing is trying to correct China&#8217;s oversupply of solar panels, but it should not do that at the expense of other countries, he added.
&#8220;Our view is if China wants to destroy its own industry let it do that on their own accord,&#8221; Widmar said.
&#8220;Let&#8217;s not paint that into the U.S. market.&#8221;
Price Action: Shares of First Solar fell 2.80% to $220.40 on Monday, as did a majority of the exchange-traded funds that hold the stock.
<ul>
<li>Global X CleanTech ETF (NASAQ: CTEC) slipped 2.05%.</li>
<li>Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>) declined 2.91%.</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) dropped 2.41%.</li>
<li>Virtus Duff &amp; Phelps Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCLN#NYSE">VCLN</a>) gained 1.83%.</li>
<li>IShares Global Clean Energy ETF NASDAQ: ICLN) went down 0.85%.</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/etfs/sector-etfs/24/07/39993019/everythings-bigger-in-texas-lone-star-state-will-build-more-clean-energy-than-next-10-states-com">Everything&#8217;s Bigger In Texas: Lone Star State Will Build More Clean Energy Than Next 10 States Combined</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Asia

CTEC

VCLN

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

Texas has emerged as the United States&#8217; <a href="https://www.benzinga.com/topic/clean-energy">clean-energy powerhouse</a> as future green energy capacity in the Lone Star State far surpasses other states. 
The Data: A <a href="https://x.com/curious_founder/status/1816488340155248653">post</a> on X by Michael Thomas relayed data from the Energy Information Administration.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Over the next 18 months, Texas is expected to build more clean energy than any other state. The state will build twice as much clean energy capacity as the next two states—California and Arizona—combined.<a href="https://t.co/rbMvmsigbt">https://t.co/rbMvmsigbt</a> &#x1f9f5; <a href="https://t.co/i41QEERefm">pic.twitter.com/i41QEERefm</a>
&mdash; Michael Thomas (@curious_founder) <a href="https://twitter.com/curious_founder/status/1816488340155248653?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Texas plans to build 35.6 gigawatts of clean energy capacity in the near future, more than half of which is solar. This is more than the next 10 states combined and double the capacity of the second and third largest: California and Arizona.</figcaption></figure>
The data includes projects that have permits and plans to reach commercial operation in the next 18 months.
Why it Matters: Texas&#8217; <a href="https://www.benzinga.com/markets/esg/24/05/39012502/california-loses-the-solar-crown-whos-americas-new-energy-star">green energy champion status</a> may surprise many observers; its high clean energy capacity is belied by the fact that it is generally defined as a Republican state. Conservative lawmakers have historically criticized green energy in favor of fossil fuels.
The data is unsurprising, though, given Texas&#8217; geography and climate. It is the second-largest <a href="https://www.census.gov/geographies/reference-files/2010/geo/state-area.html">state</a> by area and enjoys high sunlight coverage relative to other states, given its southern location. It is also relatively flat, its topology is favorable for building cheaply. Finally, Northern Texas is an especially windy region of the U.S.
The green energy capacity increase is necessitated by the fact that the state is rapidly growing in population. In addition, many energy-intensive Bitcoin miners <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34368164/bitcoin-miners-hit-pause-in-texas-as-energy-crisis-stalls-operations">operate in the state</a>.
For investors interested in the green energy sector, here are three ETFs to consider:
<ul>
<li>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>)</li>
<li>First Trust NASDAQ Cln Edge Smart Grid Infra Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>)</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>)</li>
</ul>
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</ul>
Image created using artificial intelligence via Midjourney.

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

The latest Fed&#8217;s favorite inflation report, unveiled Friday by the Bureau of Economic Analysis, showed mixed <a href="https://www.benzinga.com/topic/inflation">results for market participants</a>.
What Happened: The headline Personal Consumption Expenditure (PCE) price index fell to 2.5% year-on-year in June, as expected. 
The core component remained steady at 2.6%, countering expectations of <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39983210/feds-preferred-inflation-measure-shows-mixed-readings-personal-income-spending-fa">a drop to 2.5%.</a>
The headline index&#8217;s decline to 2.5% marks the lowest point since February 2021, a level also seen in January and February 2024.
This data kept market-based probabilities for a September rate cut largely unaffected, with fed futures continuing to indicate a 100% chance of rate reductions, according to CME Group&#8217;s FedWatch tool.
The Bureau of Economic Analysis also reported lower-than-expected monthly increases in both personal spending and personal income last month. 
<ul>
<li>Personal income rose 0.2% in June, down from 0.4% in May and below the expected 0.4%. </li>
<li>Personal spending increased 0.3%, also down from 0.4% in May and missing the forecasted 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Market reactions and pre-market ETF performances</h3>
U.S. equity futures maintained strong gains during premarket trading, despite a slight dip in large-cap index futures following the PCE report.
The U.S. dollar index remained broadly unchanged, while Treasury yields inched slightly lower, boosting bond-related exchange-traded funds (ETFs) in pre-market trading.
Interest-rate sensitive sectors, such as real estate, miners, and small caps, rose. Technology stocks also sharply rallied following declines in the previous two sessions.
Investors and traders are closely monitoring these exchange-traded funds, which showed notable pre-market gains:
<ol>
<li>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) up 2.3%</li>
<li>ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) up 1.8%</li>
<li>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) up 1.6%</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) up 1.5%</li>
<li>iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up 1.3%</li>
<li>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) up 1.2%</li>
<li>US Global JETS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) up 1.2%</li>
<li>VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) up 1.1%</li>
<li>Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) up 0.9%</li>
<li>iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) up 0.5%</li>
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Image: Shutterstock

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Fed's Favorite Inflation Gauge Falls To 2.5%, Lowest Since February 2021, But Core Remains Sticky: 10 ETFs To Monitor Thursday

Israel has ordered residents in part of Khan Younis, a city in southern Gaza, to evacuate on Monday as it plans to take military action against Hamas.
What Happened: The evacuation order extended into parts of an area that Israel had previously designated a humanitarian zone.
Israel&#8217;s military is now pushing back the zone&#8217;s boundaries because Hamas had used the zone to launch rockets toward Israel, the New York Times <a href="https://www.nytimes.com/live/2024/07/22/world/israel-gaza-war-hamas?partner=slack&amp;smid=sl-share">reported</a>.
Residents were told to move temporarily closer to the coast to the "adjusted Humanitarian Area in Al-Mawasi."
Israeli fighter jets also struck Houthi military installations near Yemen&#8217;s Hodeidah Port on Saturday in response to a Houthi attack on Tel Aviv on Friday, CNN <a href="https://www.cnn.com/2024/07/21/middleeast/israel-strikes-houthi-rebels-explainer-intl/index.html">reported</a>. This marked the first time that Israel has attacked inside Yemen.
Since Hamas began attacking <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">Israel in early October</a>, the Houthis have been striking merchant vessels in the Red Sea in support of Gaza.
Also Read: <a href="https://www.benzinga.com/markets/asia/24/07/39851210/israeli-forces-intensify-attacks-in-gaza-southern-lebanon-ahead-of-netanyahus-visit-to-us-congress">Israeli Forces Intensify Attacks In Gaza, Southern Lebanon Ahead Of Netanyahu&#8217;s Visit To US Congress</a>
The Houthis said they fired more missiles toward Israel after an attack occurred near Hodeidah Port. Houthis promised a response that would be &#8220;huge and great&#8221; against Israel.
Israel&#8217;s Prime Minister Benjamin Netanyahu said Israel attacked the port because Iran used it to bring arms into Yemen.
"The port we attacked&nbsp;is&nbsp;not&nbsp;an innocent port. It was used for military purposes, it was used as an entry point for deadly weapons supplied to the Houthis&nbsp;by Iran," Netanyahu said in a statement on Saturday.
Houthi spokesperson Mohammed Abdulsalam criticized the attack as "brutal Israeli aggression" against Yemen.
Netanyahu also said the operation, which hit targets 1,118 miles from&nbsp;Israel's borders, showed&nbsp;Israel&nbsp;was&nbsp;serious about responding to threats.
"It makes it clear to our enemies that there is no place that the long arm of the State of Israel will not reach," Netanyahu said.
Why It Matters: The development comes just as Netanyahu prepares for tense meetings in Washington, D.C. to urge the Biden administration and Congress to support Israel&#8217;s war effort.
In March, Israel <a href="https://www.benzinga.com/news/24/03/37951362/israel-pulls-out-of-gaza-truce-negotiations-points-finger-at-hamas-for-escalating-conflict">withdrew</a> from truce discussions. 
Between Oct. 7, 2023, and July 22, 2024, at least 39,006 Palestinians were killed and 89,818 were injured in the war between Israel and Hamas, according to the Ministry of Health in Gaza.
Price Action: Exchange-traded funds with Israel exposure made gains into Monday&#8217;s late-afternoon trading.
<ul>
<li>&nbsp;iShares MSCI Israel ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EIS#NASDAQ">EIS</a>) gained 7.68%.</li>
<li>&nbsp;ARK Israel Innovative Technology ETF (IZRL) edged up 0.86%.</li>
<li>VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>) picked up 1.66%.</li>
<li>Amplify BlueStar Israel Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITEQ#NYSE">ITEQ</a>) rose 2.15%.</li>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) went up 0.63%.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/05/38909656/israel-intensifies-gaza-strikes-killing-at-least-28-palestinians-as-us-envoy-meets-with-netanyahu-to">Israel Intensifies Gaza Strikes, Killing At Least 28 Palestinians, As US Envoy Meets With Netanyahu To Prevent Full-Scale Assault</a></li>
</ul>
Image: Shutterstock

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

ITEQ

IZRL

Israel Orders Residents In Southern Gaza To Evacuate On Heels Of Houthi Drone Attack On Tel Aviv

Daqo New Energy Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) shares are trading higher after the company approved a $100 million share repurchase program, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39878834/daqo-new-energy-announces-100-million-share-repurchase-program" rel="noreferrer noopener">effective until June 30, 2025</a>.
Daqo New Energy&#8217;s board has authorized the repurchase of up to $100 million of its shares or ADSs through various legal means, in compliance with U.S. securities laws.
The repurchase program will be funded mainly from the company&#8217;s available and existing cash balance.
Xiang Xu, Chairman and Chief Executive Officer of the Company, said, &#8220;The share repurchase program underscores our confidence in the Company&#8217;s&nbsp;business development&nbsp;as we weather through the&nbsp;industry downcycle. We remain &nbsp;fully committed to delivering sustainable growth while creating value for our shareholders.&#8221;
As of March-end, the company <a href="https://www.benzinga.com/news/earnings/24/04/38498002/why-polysilicon-company-daqo-new-energys-shares-are-diving-monday" target="_blank" rel="noreferrer noopener">had $2.7 billion in cash and equivalents</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>).
<h2 class="wp-block-heading">Is DQ A Good Stock To Buy</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/DQ">Daqo New Energy</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Daqo New Energy does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 6.11%, you'll need to buy a share of DYNAMIC ACTIVE ENHANCED YIELD COVER UNITS by the Jul. 26, 2024. Once done, you can expect to receive a nominal payout of $0.12 on Jul. 31, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/DQ">Daqo New Energy</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
Price Action: DQ shares are up 5.85% at $17.01 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock/ bangoland

Buybacks

Why Polysilicon Company Daqo New Energy's Shares Are Trading Higher Premarket Today

President Joe Biden and former President Donald Trump are, <a href="https://www.benzinga.com/general/politics/24/07/39844101/pelosi-tells-biden-he-cant-beat-trump-shell-do-everything-in-her-power-to-prevent-2024-run">as of now</a>, set to square off in a fierce rematch of the 2020 election. As betting markets show Trump having a substantial advantage over Biden, how would solar stocks far under <a href="https://www.benzinga.com/topic/donald-trump">a second Trump term</a>?
Benzinga&#8217;s readers weighed in. &#8220;Would you buy solar stocks ahead of a Trump/[J.D.] Vance win, given their historical skepticism towards the solar industry and support for fossil fuels?&#8221; Benzinga asked. The results show varying opinions among investors.
<ul>
<li>43% of respondents said yes.</li>
<li>57% of respondents said no.</li>
</ul>
Now Read: <a href="https://www.benzinga.com/government/24/07/39841598/project-2025-wants-to-radically-change-us-tax-policy-would-you-pay-more-or-less-in-taxes">Project 2025 Wants To Radically Change US Tax Policy — Would You Pay More Or Less In Taxes?</a>
Trump&#8217;s odds of winning the presidency have risen steadily in 2024, <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1721323060397">according</a> to betting market Polymarket. Meanwhile, in a move perhaps correlated with the election, solar stocks are down on the year.
Trump repeatedly criticized solar and wind energy during his presidency, <a href="https://www.newsweek.com/donald-trump-criticizes-solar-power-windmills-turn-television-1370707">according</a> to Newsweek. He also <a href="https://www.nytimes.com/2016/11/19/world/asia/china-trump-climate-change.html">called</a> climate change a &#8220;hoax.&#8221;
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), which tracks solar energy companies, is down 18.32% in 2024. It is down over 4% since <a href="https://www.benzinga.com/government/24/07/39778541/trump-shooting-recalls-memories-of-reagan-assassination-attempt-heres-how-markets-react-to-political">the assassination attempt</a> on Trump on July 13 (betting markets predicted that Trump&#8217;s <a href="https://www.benzinga.com/general/politics/24/07/39780356/trumps-2024-election-betting-odds-hit-record-high-after-assassination-attempt-payouts-for-ex-pre">odds of winning</a> the election increased substantially following the event).
First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and Canadian Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) all <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">took major hits</a> in the market session following the assassination attempt. Since then, their performance has varied. Canadian Solar has recovered while Enphase and First Solar have sunk further in the red.
Republicans are seen to <a href="https://www.benzinga.com/government/24/07/39692871/trumps-deregulation-agenda-oil-gas-defense-and-finance-stocks-may-benefit-from-loose-rules-goldman-s">be more partial</a> to gas and oil than solar. Both sectors have done well under the Biden administration: The U.S. produced more oil under Biden <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">than at any point under Trump</a>, and Biden <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39087879/what-a-biden-or-trump-victory-might-mean-for-the-energy-sector">has approved billions</a> in incentives for clean energy while in office.
Meanwhile, solar has paradoxically <a href="https://www.benzinga.com/markets/esg/24/05/39012502/california-loses-the-solar-crown-whos-americas-new-energy-star">become more popular</a> in states such as Texas (a state that consistently votes red,) which could indicate that solar has become less politicized.
The survey was conducted by Benzinga on July 16 and July 17 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 112 adults.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/24/07/39837570/unemployment-claims-rise-more-than-expected-boosting-hopes-for-rate-cuts-as-cracks-in-labor-mark" target="_blank" rel="noreferrer noopener">Unemployment Claims Rise More Than Expected, Boosting Hopes For Rate Cuts As Cracks In Labor Market Emerge</a></li>
</ul>

EXCLUSIVE: Would A Trump Victory Help Or Hurt Solar Stocks? Benzinga Poll Shows Investors Divided

Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) unveiled its latest Enphase Energy System, introducing the new IQ Battery 5P alongside IQ8 Microinverters, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39835852/enphase-energy-launches-new-home-energy-systems-in-luxembourg-with-iq-battery-5p-and-iq8-microinve" rel="noreferrer noopener">for customers in Luxembourg</a>.
Enphase&#8217;s latest Energy System enhances the experience for homeowners and installers with increased power, robust wired communication, and streamlined commissioning.
Paulo Trindade, CEO at Electricité Scorpion, an installer of Enphase products in Luxembourg, said, &#8220;Enphase IQ8 Microinverters and IQ Batteries enable us to confidently build a system that we know will provide maximum value and reliability for our customers.&#8221;&nbsp;
Viviane Rannou, co-founder at Bauer Energie, an installer of Enphase products in Luxembourg commented, &#8220;IQ8 Microinverters and IQ Batteries are two high-performing clean renewable energy solutions for the residential market in Luxembourg.&#8221;
This week, the company launched the CS-100, a powerful Level 2 EV charger for commercial fleets in the U.S., delivering up to&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39774124/enphase-energy-unveils-cs-100-for-commercial-ev-fleet-charging-details" rel="noreferrer noopener">19.2 kW of continuous power output</a>.
Last week, Enphase Energy announced residential and commercial products that can help solar projects qualify for the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/07/39730495/why-enphase-energy-stock-is-climbing-today" rel="noreferrer noopener">Domestic Content Bonus Credit</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 1.5% at $109.48 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/esg/24/07/39819834/solar-makers-push-biden-to-tighten-tax-credit-for-us-made-panels" target="_blank" rel="noreferrer noopener">Solar Makers Push Biden To Tighten Tax Credit For US-Made Panels</a></li>
</ul>

What's Going On With Enphase Energy Stock Today?

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

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

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

SolarEdge Technologies, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) shares are trading lower after the company disclosed a decision to lay off 400 <a target="_blank" href="https://investors.solaredge.com/static-files/84905633-3fc4-46e7-9b3b-1e7094bfb9dd" rel="noreferrer noopener">employees</a>.
The company stated that 200 of these job cuts are in Israel. The action involves reducing headcount and discretionary spending across all departments.
The company stated that the market downturn at the end of 2023 and early 2024 led to excess inventory in their distribution channels, temporarily lowering sales volumes as inventory clears.
In January this year, the company disclosed trimming&nbsp;16%&nbsp;of the workforce to lower operating expenses and <a target="_blank" href="https://www.benzinga.com//node/36712158" rel="noreferrer noopener">align its cost structure to&nbsp;current market dynamics.</a>
SolarEdge&#8217;s business is further impacted by the slower-than-expected growth in Europe&#8217;s solar industry, which has created significant uncertainty and variability in PV installation rates across different countries.
In North America, the company said it is beginning to see some slight growth in installation rates.
Last week, the company announced significant milestones in its U.S. manufacturing strategy, spurred by incentives from <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39727964/solaredge-marks-milestones-in-u-s-manufacturing-strategy-achieving-targeted-inverter-production-le" rel="noreferrer noopener">the 2022 Inflation Reduction Act (IRA)</a>.
SolarEdge said that it has created approximately 1,500 new jobs at its Texas and Florida manufacturing facilities, with the expectation to increase this number to around 1,750 by the end of 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38737961/solaredges-q1-results-cast-shadow-with-revenue-decline-but-ceo-remains-optimistic" rel="noreferrer noopener">SolarEdge&#8217;s Q1 Results Cast Shadow With Revenue Decline, But CEO Remains Optimistic</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>)&nbsp;and&nbsp;Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>).
Price Action: SEDG shares are down 11.1% at $28.14 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Andreas from Pixabay
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39669770/solaredge-technologies-shares-are-trading-at-5-year-lows-analyst-expects-return-to-" target="_blank" rel="noreferrer noopener">SolarEdge Technologies&#8217; Shares Are Trading At 5-Year Lows: Analyst Expects &#8216;Return To Profitability&#8217; In 2025</a></li>
</ul>

SolarEdge Cuts 400 More Jobs In 2024: Navigating Market Woes And Inventory Challenges

TAN: Solar Stocks Trending Lower Ahead Of The Election

For this long weekend, I am offering you food for thought. In the overall macro theme, I am sticking to this for time being:
Stagflation - The Fed can't fix it with a huge reduction in rates, that will spike inflation.

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Invesco Solar ETF

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