The stock market is trading almost flat midday. The S&P 500 lost 0.05%, while the tech-heavy Nasdaq Composite added 0.06%. The Dow Jones Industrial Average lost 0.49%. The Russell 2000 Index rose 0.78%.
S&P 500 big stock movers today
Five S&P 500 stocks making big midday moves are:
Mosaic (MOS) +5.8% First Solar (FSLR) +5.1% AES (AES) +4.1% EQT (EQT) +4% Sherwin-Williams (SHW) +3.9%
The worst-performing five S&P 500 stocks with the largest midday drop are:
Constellation Energy (CEG) -10.6% Public Service Enterprise Group (PEG) -6.1% Loews (L) -4.2% Franklin Resources (BEN) -3.3% United Airlines (UAL) -3.04%
Stocks also worth noting include:
Nvidia (NVDA) +1.9%Apple (AAPL) -0.2%Intel (INTC) -2.6%Berkshire Hathaway (BRK.A) -2.3%Super Micro Computer (SMCI) +0.8%
Nvidia is set to replace Intel in the Dow Jones Industrial Average on Nov. 8.
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Constellation Energy tumbles as government rejects power plan
Constellation Energy fell 11% after the Federal Energy Regulatory Commission blocked a proposal to boost power from the Susquehanna nuclear plant to Amazon’s data center.
The request, filed by grid operator PJM Interconnection and Talen Energy’s Susquehanna plant, aimed to increase the power supply to 480 megawatts from 300.
Related: Analysts revamp stock price targets for Microsoft’s AI-power supplier
This decision affects not only Talen but also companies like Constellation Energy. Constellation and other energy providers had been eyeing similar deals to meet the surging power needs of data centers, which are increasingly vital for AI and cloud services.
In September, Constellation revealed plans to restart the Three Mile Island nuclear plant through a 20-year power purchase agreement with Microsoft, which will use the electricity to support its data centers. This deal is Constellation’s largest power purchase agreement to date.
Nvidia pops after planned addition to Dow Jones industrials
Nvidia is set to replace Intel in the Dow Jones Industrial Average on Nov. 8. Intel shares dipped 3% after the announcement, while Nvidia climbed 2%.
Paints giant Sherwin-Williams will also join the Dow, taking the spot of Dow Inc., according to a statement.
Nvidia’s stock has soared 178% this year, with its market cap hitting $3.3 trillion, standing alongside Apple and Microsoft.
Related: Nvidia CEO’s bombshell raises the bar for the stock
Nvidia’s chief executive, Jensen Huang, recently said demand for its Blackwell chips is “insane.” Blackwell production is fully booked through next year, with initial shipments expected this month and broader availability by early 2025.
Intel, meanwhile, has struggled with declining market share and challenges in AI, losing ground to AMD.
Berkshire Hathaway falls after Q3 earnings
Berkshire Hathaway shed 2.5% midday after the conglomerate posted Q3 results.
Berkshire Hathaway’s cash reserves hit an all-time high of $325.2 billion in the third quarter, up from $276.9 billion, as Warren Buffett accelerated the company’s stock-selling spree.
Buffett continued to trim Berkshire’s massive holdings in Apple and Bank of America. Over the past four quarters, Berkshire has sold off a quarter of its Apple position, while a recent selloff of Bank of America has netted more than $10 billion since mid-July.
More Warren Buffett:
Warren Buffett cuts Apple stake massively and artfullyWarren Buffett is selling one of the world’s biggest companiesWarren Buffett’s Berkshire buys top entertainment stock
Overall, Berkshire offloaded $36.1 billion of shares through the third quarter, as the 94-year-old investor remains focused on strategic exits.
Class A shares of Berkshire are up 22% this year.
Related: Veteran fund manager sees world of pain coming for stocks
