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Start your day with a quick market snapshot and the latest public market updates in Technology, Healthcare, and Energy.

📊 Market Snapshot

💰Earnings

THE Headlines

🖥️ Technology

• Meta's $10 Billion Data Center Investment in Louisiana

  Meta, the parent company of Facebook, has announced plans to build its largest data center to date in Louisiana, investing $10 billion. The 4-million-square-foot facility will be powered by three new natural gas plants with a combined capacity of 2.2 gigawatts, sufficient to power over a million homes. Additionally, Meta plans to invest in 1.5 gigawatts of renewable energy to offset the data center's carbon footprint. Construction is expected to continue through 2030.

• Coherent and GE Vernova Recognized as Major AI Beneficiaries

  Analysts have identified Coherent and GE Vernova as significant beneficiaries in the AI sector. Coherent's stock rose by 5.1% to $112.02, marking a year-to-date gain of 157%, following a buy rating from Jefferies with a target price of $135. GE Vernova's stock increased by 3.6% to $343.91 after Wolfe Research rated it as outperform with a $403 price target. Both companies are expected to experience substantial growth due to the increasing demand for AI and energy infrastructures.

🧬 Healthcare

• UnitedHealth Executive Shot Dead Outside Manhattan Hotel

  Brian Thompson, CEO of UnitedHealthcare, was fatally shot outside the New York Hilton Midtown hotel. The incident occurred in the early morning hours, with witnesses reporting a masked gunman fleeing the scene. Authorities are investigating the motive, considering both personal and professional angles. Thompson had been with UnitedHealthcare for over a decade, and his untimely death has sent shockwaves through the healthcare industry.

• Advancements in AI-Driven Drug Discovery

  The healthcare industry is witnessing an acceleration in AI-driven drug discovery, with pharmaceutical researchers combining AI algorithms and machine learning models to significantly expedite the drug development process. This trend is expected to lead to more efficient and cost-effective treatments, revolutionizing the pharmaceutical landscape.

⚡ Energy

• Saudi Arabia's Diminishing Control Over Global Oil Markets

  Saudi Arabia's influence in the global oil market is waning as it struggles to maintain high oil prices amid internal OPEC+ disagreements and rising competition from U.S. shale producers. The kingdom's strategy to sustain elevated prices to fund economic diversification is clashing with other OPEC+ members' desires to increase production for short-term gains. This discord, coupled with a sluggish Chinese economy and increased U.S. oil output, has led to oil price instability and weakened OPEC+'s market credibility.

• European Natural Gas Prices Surge Amid Cold Weather

  A colder-than-expected start to winter in central and northern Europe has escalated natural gas consumption for heating, driving up prices. Companies specializing in liquefied natural gas (LNG), such as New Fortress Energy, Golar LNG, and Cheniere Energy, are benefiting from this trend. LNG prices have climbed to $15 per million British Thermal Units, up from $12 in November. Contributing factors include lower gas storage levels in Europe, increased demand in Asia, potential reductions in Russian gas exports, and delays in new LNG projects

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The Read Morning Team