Wall Street Breakfast Solar sinks as Senate eyes tax credit sunset
Jun 17, 2025
Solar stocks take a hit as proposed Senate budget cuts threaten renewable energy tax credits. OpenAI grabs attention with a $200 million contract for AI solutions to support the Pentagon. Amazon is shaking things up by expanding Prime Day to four days, raising competitive stakes with giants like Walmart and Target. Meanwhile, the G7 Summit focuses on securing critical minerals and discusses a U.S.-UK tariffs deal. Economic updates reflect an ever-shifting market landscape.
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Solar Stocks Hit by Tax Credit Cuts
- Solar stocks plunged after the Senate proposed phasing out solar and wind tax credits by 2028. - Hydro, nuclear, and geothermal tax credits remain extended to 2036, showing selective energy policy support.
OpenAI Secures $200M Defense Deal
- The U.S. Defense Department awarded OpenAI a $200 million contract for AI development focused on security and warfighting. - This partnership marks OpenAI's first government contract and launches its OpenAI for Government initiative.
Amazon Expands Prime Day, Competitors Follow
- Amazon extended Prime Day to four days to boost sales, with $14.2 billion spent last year. - Competitors like Walmart, Target, and TikTok are launching similar discount events to capture early back-to-school demand.