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Tech outperforms after jumbo Fed rate cut: Are bullish signals coming?
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AI + Three Mile Island? | Wall Street Today

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Moomoo Recap US joined discussion · Sep 20 15:00
AI + Three Mile Island? | Wall Street Today
The market pulled back Friday after the S&P 500 and Dow hit record closes Thursday. Eight out of 11 sectors of the S&P 500 were falling, but energy stocks climbed: in the pursuit of AGI, Microsoft and OpenAI are planning to revive the Three Mile Island nuclear facility.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ fell 0.19%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.09%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.36%.
MACRO
Federal Reserve Governor Michelle Bowman said Friday that cutting interest rates by a half percentage point this week risked signaling the US central bank was declaring victory over inflation too early, according to Bloomberg Canada.
“The committee’s larger policy action could be interpreted as a premature declaration of victory on our price stability mandate,” Bowman said. “I believe that moving at a measured pace toward a more neutral policy stance will ensure further progress in bringing inflation down to our 2% target.”
Bowman became the first Fed governor to dissent against an interest-rate move since 2005, when she voted against her colleagues’ decision to lower rates by 50 basis points Wednesday. She indicated at the time she preferred a quarter-point cut. The vote on the Federal Open Market Committee was 11-1.
SECTORS
$Constellation Energy (CEG.US)$ climbed 21%, the highest on the S&P 500 after news that $Microsoft (MSFT.US)$ struck a deal to use energy from Unit 1 of Three Mile Island for data centers to run artificial intelligence software and cloud computing. Unit 1 is next to Unit 2, the site of a partial meltdown that caused panic and evacuation of the Susquehanna River Valley in Pennsylvania in 1979. The revamped power plant at Unit 1 is expected to come online in 2028 and will generate 800 megawatts of electricity for the grid, create 3,400 jobs, and add $16 billion to the state's economy. $Vistra Energy (VST.US)$ another power generator climbed 7% on the news.
Within industries tracked by moomoo, Uranium and Utilities stocks climbed following the AI and data center-based energy consumption news.
AI + Three Mile Island? | Wall Street Today
$Crude Oil Futures(JAN5) (CLmain.US)$ climbed past $71, gold and silver climbed to new highs. $Bitcoin (BTC.CC)$ hovered at $62k. The $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
MOOVERS
$FedEx (FDX.US)$ fell 14% Friday morning, the lowest on the S&P 500, after reporting weaker earnings and demand for the past quarter than estimated Thursday night. $United Parcel Service (UPS.US)$ also fell after FedEx lowered its full-year 2025 revenue guidance after its operating results fell during the "challenging quarter" due to lower demand and increased costs.
$Nike (NKE.US)$ also climbed 5% after news CEO John Donahoe was stepping down, with firm veteran Elliott Hill taking the reins on October 14th.
$Intel (INTC.US)$ climbed more than 6% Friday after a Wall Street Journal newswire line that $Qualcomm (QCOM.US)$ had reached out for a potential takeover. WSJ attributed the news to annonymous sources.
An experimental obesity pill being developed by Ozempic-maker $Novo-Nordisk A/S (NVO.US)$ showed only limited additional weight loss when taken in higher doses compared to the lowest dose tested in a mid-stage trial, the company said. Shares fell on the news and traded more than 5% lower in morning trading on Friday.
$GameStop (GME.US)$ rose 12% intraday Friday and is up some 20% year to date, after CEO Ryan Cohen agreed to pay $985,320 to settle Federal Trade Commission charges he failed to report a 2018 personal purchase of stock in Wells Fargo.
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Word from the herd: Mooers, what are you watching?
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