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AES is a global power company that operates in 15 countries. Its generation portfolio totals over 32 gigawatts, including renewable energy (50%), gas (32%), coal (16%), and oil (2%). AES has majority ownership and operates six electric utilities distributing power to more than 2.5 million customers.

Exelon serves approximately 10 million power and gas customers at its six regulated utilities in Illinois, Pennsylvania, Maryland, New Jersey, Delaware, and Washington, D.C.

October was yet another good months for stocks. Since the April low, the S&P 500 has moved higher for six consecutive months, while the Nasdaq and Nasdaq 100 have been higher for seven months in a row. The Russell 2000 also extended its streak to six months. In October, the S&P 500 added 2.3%, while the Nasdaq and the Nasdaq 100 surged almost 5%. The balance of power stayed with Information Technology, as the XLK skyrocketed another 6.7% on the back of hot semiconductor issues (the SMH and the SOXX spiked 11%-13%). Utilities gained 2.2%, driven by the AI buildout. The rest of the sectors did little or had tough months in a concentrated market. Materials fell over 4%, while Communication Services, Staples, Real Estate, and Financial all lost between 2.7% and 3%. In no surprise, most of the historical studies we have seen remain bullish through the end of the year. According to SentimenTrader, if the S&P 500 is up at least 10% by the end of October, there is an 86% probability that the index will rise during the last two months of the year -- with a mean gain of 4.4% and a median rise of 4.2%. With the S&P 500 at 6,840 as of October 31, a 4% gain would target 7,114 by December 31. Looking at the results of this study six months out, the S&P 500 has gained 76% of the time, with a return of about 8%. The six-month gains for the majors are impressive, at 23% for the S&P 500, 36% for the Nasdaq, and 33% for the Nasdaq 100. Back to 2009, the "500" has seen similar or larger six-month periods about six times, while the Nasdaq has done it only a few times. We did not count periods when these gains were clustered. (Mark Arbeter, CMT)

Essential Utilities is a Pennsylvania-based holding company for US water, wastewater, and natural gas distribution utilities. The company's water business serves 3 million people in eight states. Its largest service territory is in Pennsylvania, primarily suburban Philadelphia. Its Peoples subsidiary serves more than 740,000 gas distribution customers in Pennsylvania and Kentucky. It completed the sale of its West Virginia gas utility and the bulk of its nonregulated assets in 2024. Essential shareholders would own a 31% stake in American Water Works if the proposed all-stock merger closes in 2027.