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Ten stocks falling premarket after September CPI beat forecasts at 3.7%. Rocket Companies and gold miners lead the declines.
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The Nasdaq 100 had its worst day since 2020, but credit barely moved. S&P Global's Gavan Nolan tells Benzinga why three stocks stand out.
The Nasdaq dropped 5.5% following midterm election results, as investors feared political backlash against data center construction, particularly in Texas where the governor-elect proposed a temporary moratorium. Semiconductor stocks collapsed, with the VanEck Semiconductor ETF losing 11.2%. However, analysts argue this reaction is likely an overreaction, as AI demand remains strong and any slowdown would likely shift construction abroad rather than eliminate growth.
Following the midterm elections, certain stocks are positioned to benefit or suffer based on potential policy shifts. Retailers like Amazon, Shopify, and e.l.f. Beauty could gain from tariff rollbacks, while neoclouds like Space Exploration Technologies and other data center companies face headwinds from tougher permitting. Palantir Technologies may see slower government growth depending on administrative changes.
Core Scientific said on Thursday it plans to abandon Bitcoin mining entirely by year-end and reposition itself as a pure-play AI firm.
Pecoy Copper Corp. closed a non-brokered private placement raising approximately C$49.8 million from Hudbay Minerals and a strategic investor, each acquiring ~9.99% stakes. The proceeds will fund exploration and development activities at the Pecoy copper-gold project in southern Peru, including drilling, resource definition, and metallurgical studies.
AngloGold Ashanti has committed to a $900 million investment program focused on expanding its mining operations.