Solar, clean energy stocks surge as Powell points to imminent rate cuts (NASDAQ:ENPH)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 23 2024
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Source: SeekingAlpha
Market Reaction to Interest Rate Cuts: Solar and alternative energy stocks surged following Federal Reserve Chair Jerome Powell's indication that interest rate cuts are imminent, with significant gains seen in companies like Enphase Energy and First Solar.
Broad Gains Across Clean Energy Sector: Many clean energy stocks experienced substantial increases, with notable performances from Sunnova Energy (+15.8%) and Stem (+22.2%), reflecting investor optimism about a favorable economic environment for the sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
