- The DOE offered Vistra a conditional loan commitment of up to $4.2 billion under its Energy Dominance Financing program.
- The financing targets three Vistra nuclear plants in Ohio and Pennsylvania, adding 433 megawatts of generating capacity and extending plant operating lives by 20 years.
- A conditional commitment is not final; it sets terms the government is prepared to offer subject to further conditions before the loan closes.
- Vistra rose on Monday, Oct. 5, and finished higher in the S&P 500. Utilities ranked as the third-best sector at midday, with Southern Co and American Electric Power edging higher.
- Energy stocks advanced, led by SLB, and refiners Valero and Marathon Petroleum touched 52-week highs.
- The Nasdaq Composite rose 286.45 points to a record close of 27,477.31, the Nasdaq-100 set a record at 31,076.44, the S&P 500 added 51.23 points to 7,773.95, and the Dow Jones Industrial Average gained 90.94 points to 51,267.90.
- The 10-year Treasury yield climbed to its highest close since 2002.
- The ISM services survey showed prices paid at the highest since July 2022, while Friday's weak jobs report with 29,000 positions added in September cut the odds of another Fed hike in October to roughly one in four or less.
- Chicago Fed President Austan Goolsbee said inflation is "where the problem is."
- The Fed releases minutes of its September meeting on Wednesday, Oct. 7; PepsiCo reports Thursday, Delta Air Lines Friday, and bank earnings begin on Oct. 13; the Fed's next policy meeting is Oct. 27–28.
Quotes
“Inflation is "where the problem is.”