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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Green stocks stumble as markets price in marginal polling improvements for Trump

Green stocks stumble as markets price in marginal polling improvements for Trump

Prominent Democratic leaders in swing states, including Michigan and Wisconsin, have raised concerns over the last week over improved polling for former President Donald Trump in key demographics. While these marginal shifts are statistically insignificant in a tight national race, financial markets have reacted to data showing Vice President Kamala Harris in a more vulnerable position.

The policy research group led by Daniel Clifton at Strategas created two equity portfolios tied to the policies of both candidates. Over the past week, market indicators have reversed somewhat, improving the projected odds for the Republican candidate.

In renewable energy and other ESG sectors, sentiment has shifted more dramatically. UBS analysts noted in a research note to clients on Thursday that since President Joe Biden withdrew from the race, the iShares Global Clean Energy ETF ICLN has closely tracked Harris’s momentum. The ETF saw gains of up to 3% following her DNC acceptance speech in late August and her strong debate performance in September. However, ICLN has declined by roughly 4% over the past week of trading.

Adding to market uncertainty is the potential political impact of Hurricane Helene and Hurricane Milton. The economic toll of disaster response may shape voter perceptions of Harris. According to Clifton with Strategas: “The vice president typically doesn’t have a role in disaster response efforts, but Harris the candidate is looking to project competency, contrasting herself with Trump’s chaos, without looking overtly political.” 

Clifton added: “It’s a high-stakes situation in what could turn out to be the defining October surprise of the campaign.”

More stories we’re tracking at Equities:

Renewables play key role in hurricane recovery

The full impact of Hurricane Milton on the renewable energy sector is beginning to be assessed. Duke Energy’s DUK 380-acre Lake Placid facility, located about 60 miles inland from Florida’s western shore, suffered significant wind damage. As of Thursday, Duke reported that approximately 850,000 customers in the region remained without power.

Recovery efforts from Hurricane Milton are underway as rebuilding continues in areas affected by Hurricane Helene in late September. On Wednesday, Dominion Energy announced that power had been fully restored to all customers in South Carolina, where the company operates seven solar facilities.

Women-owned fortuna bank opens first branch

Ohio-based Fortuna Bank has opened its first physical branch after receiving regulatory approval to accept deposits. The startup lender is one of only a few financial institutions in the U.S. focused on banking for women-owned small businesses. Fortuna, which already offers Individual Retirement Accounts in partnership with STRATA Trust Company, is approximately 75% women-owned, with about 340 shareholders.

Nuclear power debate moves down-ballot

Nuclear power has become a hot topic in the upcoming election cycle. During a televised debate Wednesday, Democratic Senate candidate Ruben Gallego promoted nuclear energy as a solution to Arizona’s energy needs while sparring with Republican rival Kari Lake. Gallego currently holds a slim lead in the polls. Arizona has faced electrical capacity issues in recent years, exacerbated by record heat and data center investments.

Read more: Access to charging remains an Achilles heel for electric vehicles

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