{"id":64231,"date":"2026-07-04T21:38:18","date_gmt":"2026-07-05T01:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/"},"modified":"2026-07-04T21:38:18","modified_gmt":"2026-07-05T01:38:18","slug":"u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/","title":{"rendered":"U.S. Fossil Fuel Spending Surpasses China Amid AI Power Surge; Tech Stocks Retreat on Weak Jobs Data"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/#Energy_Markets_US_Investment_Overtakes_China\" >Energy Markets: U.S. Investment Overtakes China<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/#Wall_Street_Tech_Stocks_Stumble_on_Employment_Miss\" >Wall Street: Tech Stocks Stumble on Employment Miss<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/#Geopolitics_Diplomatic_Activity_Ahead_of_NATO_Summit\" >Geopolitics: Diplomatic Activity Ahead of NATO Summit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/#Corporate_Regulatory_Developments\" >Corporate &amp; Regulatory Developments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-fossil-fuel-spending-surpasses-china-amid-ai-power-surge-tech-stocks-retreat-on-weak-jobs-data\/64231\/#Cybersecurity_Aptos_Averts_70_Billion_Crisis\" >Cybersecurity: Aptos Averts $70 Billion Crisis<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>U.S. fossil fuel investment is projected to reach $50 billion in 2026<\/strong>, surpassing China for the first time in decades as data center demand for natural gas power skyrockets.<\/li>\n<li><strong>The Nasdaq Composite fell 0.8%<\/strong> following a disappointing June jobs report that saw only <strong>57,000 positions added<\/strong>, well below the 115,000 anticipated by economists.<\/li>\n<li><strong>President Donald Trump and Ukrainian President Volodymyr Zelenskiy<\/strong> held a &quot;very good&quot; phone conversation on July 4, agreeing to meet in person at the upcoming <strong>NATO summit in Turkey<\/strong>.<\/li>\n<li><strong>Iraq\u2019s cabinet approved preliminary deals<\/strong> with a consortium including Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) and Qatar\u2019s UCC for strategic oil export pipeline projects.<\/li>\n<li><strong>Aptos Labs patched a critical &quot;stale-cache&quot; vulnerability<\/strong> that researchers estimated placed <strong>$70 billion in assets at systemic risk<\/strong>, with attack costs as low as a few hundred dollars.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_US_Investment_Overtakes_China\"><\/span>Energy Markets: U.S. Investment Overtakes China<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For the first time in over twenty years, the United States is set to outspend China on fossil fuel-based electricity generation. According to the <strong>International Energy Agency (IEA)<\/strong>, U.S. spending on coal and natural gas power plants is forecast to hit <strong>$50 billion<\/strong> this year, roughly <strong>$3 billion more<\/strong> than China\u2019s projected investment.<\/p>\n<p>This shift is driven primarily by the rapid expansion of <strong>AI data centers<\/strong>, which require massive, &quot;behind-the-meter&quot; power solutions to avoid straining the public grid. Manufacturers like GE Vernova (<a href=\"\/stock\/GEV\">GEV<\/a>) and Siemens (<a href=\"\/stock\/SIEGY\">SIEGY<\/a>) are reporting record backlogs, with GE Vernova alone holding an <strong>$18 billion order book<\/strong> as tech giants race to secure power for next-generation computing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Wall_Street_Tech_Stocks_Stumble_on_Employment_Miss\"><\/span>Wall Street: Tech Stocks Stumble on Employment Miss<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. equity markets delivered a mixed performance as the <strong>June non-farm payrolls report<\/strong> revealed a sharp slowdown in hiring. The <strong>Nasdaq Composite (<a href=\"\/stock\/COMP\">COMP<\/a>)<\/strong> and <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPX\">SPX<\/a>)<\/strong> declined as the semiconductor sector faced a broad selloff, with <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) dropping 2.1% and <a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a> (<a href=\"\/stock\/MU\">MU<\/a>) falling 6%.<\/p>\n<p>Despite the tech-led decline, the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/DJI\">DJI<\/a>)<\/strong> reached a fresh record high of <strong>52,681.66<\/strong>. Analysts at Morgan Stanley (<a href=\"\/stock\/MS\">MS<\/a>) and Oppenheimer suggested the weak data might prompt the Federal Reserve to pause its rate-hiking cycle, though the 2-year Treasury yield remains elevated at <strong>4.13%<\/strong>, indicating persistent market skepticism.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitics_Diplomatic_Activity_Ahead_of_NATO_Summit\"><\/span>Geopolitics: Diplomatic Activity Ahead of NATO Summit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Diplomatic efforts to end the Ukraine conflict intensified over the Independence Day holiday. <strong>President Donald Trump<\/strong> held separate, lengthy phone calls with both <strong>Volodymyr Zelenskiy<\/strong> and <strong>Vladimir Putin<\/strong>. Kremlin aide Yuri Ushakov described the 85-minute call with Putin as &quot;constructive,&quot; noting that U.S. envoys <strong>Steve Witkoff<\/strong> and <strong>Jared Kushner<\/strong> are prepared to travel to Moscow to support peace negotiations.<\/p>\n<p>Zelenskiy emphasized that &quot;American resolve&quot; will be the decisive factor in ending the four-year war. Both leaders confirmed they will continue these discussions at the <strong>NATO summit in Ankara, Turkey<\/strong>, scheduled for July 7-8.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_Regulatory_Developments\"><\/span>Corporate &amp; Regulatory Developments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Trump administration has released a sweeping regulatory plan aimed at eliminating <strong>702 existing federal rules<\/strong> to reduce the burden on critical industries. This follows a landmark Supreme Court decision in <em>Trump v. Slaughter<\/em> that significantly expanded presidential authority over independent federal agencies.<\/p>\n<p>In the aviation sector, Southwest Airlines (<a href=\"\/stock\/LUV\">LUV<\/a>) is moving to capture market share following the liquidation of <strong>Spirit Airlines<\/strong>. Morgan Stanley upgraded Southwest to &quot;Overweight&quot; with a <strong>$60 price target<\/strong>, noting that the carrier is &quot;getting its mojo back&quot; as it transitions toward a full-service model with assigned seating and premium products.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cybersecurity_Aptos_Averts_70_Billion_Crisis\"><\/span>Cybersecurity: Aptos Averts $70 Billion Crisis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Blockchain security firm <strong>Hexens<\/strong> revealed that a critical vulnerability in the <strong>Aptos<\/strong> Move virtual machine could have allowed attackers to hijack on-chain resources with a <strong>90% success rate<\/strong>. While the systemic risk was estimated at <strong>$70 billion<\/strong>, Aptos Labs successfully deployed a mainnet patch within hours of the report, and no user funds were lost.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. fossil fuel investment is projected to reach $50 billion in 2026, surpassing China for the first time [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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