Sun, Oct 6, 2024 6:00 PM
Oil Moguls Emerge as Key Cash Source for Trump as Race Nears End
A Flip by Avya Verma
The massive demand for energy as Big Tech races to build its AI infrastructure has been a tailwind for GE Vernova (GEV), the power equipment maker that spun out of iconic GE earlier this year. Shares of the Cambridge, Mass.-based company have been hovering near all-time highs, along with the broader S&P 500 Industrial ETF (XLI), as investors look to play off the electrification and AI.
Open Flip
L&T Precision Engineering and Systems, a subsidiary of the largest engineering firm in India, Larson and Toubro Ltd., is now eyeing a supply chain role in the next US space station, reported the news agency PTI, quoting the company’s Vice President, Vikas Khita, on Sunday, Oct 6. Khita expects that Indian companies will play a role in the supply chain for next space station, as per the reports.
Open Flip
Traders are staring down a series of risks after the stock market’s torrid start to the year, from economic fear, to interest rate uncertainty, to election angst. But perhaps the most important variable for whether equities can keep rolling returns to the spotlight this week: corporate earnings. The S&P 500 Index has soared roughly 20% in 2024, adding more than $8 tn to its market capitalization.
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