Stock Market Today: Dow Inches Higher After 3-Day Losing Streak; Powell Senate Hearing; Tesla, Nvidia, and Other Movers - Barron's
Stock Market Today: Dow Inches Higher After 3-Day Losing Streak; Powell Senate Hearing; Tesla, Nvidia, and Other Movers
NRG Energy was the biggest gainer in the S&P 500 Thursday trading after the company disclosed plans to buy back more stock and The Wall Street Journal reported after Wednesday's close that an activist investor is seeking a leadership change.\n\nElliott Investment Management is looking to oust NRG Energy’s CEO Mauricio Gutierrez and other company executives, The Journal reported Wednesday, citing people familiar with the matter.\n\n“The Board fully supports NRG’s CEO Mauricio Gutierrez and management team and the strategy they are executing to drive substantial shareholder value,” a NRG spokesperson said in a statement issued to Barron's.\n\nNRG announced early Thursday ahead of its investor day that the company had boosted its stock buyback plan and enacted cost-cutting measures. NRG said it was working with an independent search firm to bring expertise to its board.\n\nShares of NRG were up 3.7% on Thursday afternoon, trading at $35.14 each.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”