TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Three Mile Island is reopening.
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00:00I'm Conway Gittens reporting from the New York Stock Exchange.
00:03Here's what we're watching on the street today.
00:05There were small moves on Wall Street Friday.
00:07After big gains earlier in the week,
00:09the Dow did manage to close at a record high.
00:12Eyes were on Apple on the first sales
00:15day for the new iPhone 16.
00:16Jitters abound after online pre-sales failed
00:20to live up to expectations.
00:22Next week, investors will get quarterly updates
00:24from Costco and Micron Technologies
00:26and digest data on home prices, home sales,
00:29and consumer inflation.
00:32In other news, the site of the worst nuclear accident
00:35on American soil is being reopened
00:38in order to provide exclusive nuclear power
00:40for Microsoft's artificial intelligence business.
00:43Pennsylvania's Three Mile Island was totally shut down in 1999,
00:48but one of its nuclear reactors is coming back online in 2028,
00:53according to plans that first must
00:55be approved by the Nuclear Regulatory Commission.
00:58There are no plans to bring back
00:59the other reactor, which suffered
01:01a partial meltdown in 1979.
01:04Joe Dominguez, CEO of Constellation Energy,
01:07which owns the nuclear facility, said in a statement, quote,
01:10powering industries critical to our nation's
01:12global economic and technological competitiveness,
01:15including data centers, requires an abundance of energy
01:19that is carbon-free and reliable every hour of every day.
01:24And nuclear plants are the only energy sources
01:27that can consistently deliver on that promise.
01:30While nuclear power is capable of pumping out
01:32lots of energy without carbon emissions
01:35and is not limited like wind or solar power,
01:38it does have several negatives.
01:41The biggest, of course, is the long life
01:44of the toxic waste it produces, which
01:46must be securely stored to prevent
01:48leakage and contamination.
01:51Tech giants like Microsoft are hungry for new power sources.
01:54In order to keep data centers and AI operations
01:57running nonstop, they see nuclear energy
02:00as a viable source.
02:01The financial terms of this 20-year contract
02:04were not made public, but Constellation
02:06says it will add 3,400 jobs and boost Pennsylvania's economy
02:10by $16 billion.
02:12That'll do it for your daily briefing from the New York
02:15Stock Exchange.
02:16I'm Tonway Gittens with The Street.