The Indian state of Madhya Pradesh handed out some massive power plant contracts worth about $3.7 billion, and it’s all going to coal.

Adani Power and Torrent Power are splitting up 2,400 MW of new coal capacity, with Torrent getting the bigger piece, a 1,600 MW ultra-supercritical plant, while Adani gets an 800 MW facility.

This is part of India’s aggressive plan to add 80 GW of coal power by 2032, which might sound contradictory given all the talk about renewable energy.

But the reality is India’s electricity demand is growing so fast that they’re basically saying, “we need everything we can get.”

Torrent, Adani power up big

Torrent Power officially got the green light from MP Power Management Company to build that massive 1,600 MW coal plant. They’re putting up about $2.5 billion to build this thing from scratch, using two 800 MW ultra-supercritical units.

The deal is pretty straightforward: Torrent will sell all the power exclusively to MPPMCL for 25 years at Rs 5.829 per kilowatt-hour.

That’s a locked-in revenue stream for the next quarter-century, which is exactly the kind of certainty power companies love when they’re making billion-dollar investments.

One major advantage for Torrent is that they don’t have to worry about securing coal supplies.

Under the government’s SHAKTI Policy, MPPMCL will handle getting the coal to the plant, which removes a major headache and cost from Torrent’s plate.

The timeline is ambitious but doable, as they have 72 months from when they sign the power purchase agreement to get the plant up and running.

Adani Power got the smaller piece of the pie but still a significant one, an 800 MW coal plant that’ll cost them about $1.2 billion.

What’s notable is this is their fourth big power contract in just the past year, showing they’re really pushing hard to expand their footprint across India.

Both companies are going with ultra-supercritical technology, which is basically the cleanest way to burn coal these days.

It’s more efficient than older coal plants and puts out fewer emissions per unit of electricity generated. It’s not exactly green energy, but it’s about as clean as coal gets.

Modi’s massive coal expansion plan

The PM Modi-led Indian government has set an ambitious target when it comes to power generation.

They want to add 80 GW of new coal capacity by 2032, which would push India’s total coal power to over 290 GW. That’s more than a one-third jump from where they are now.

India’s electricity demand is growing sharply as the economy expands and more people get access to power. Renewable energy is great, but solar and wind don’t work when the sun isn’t shining or the wind isn’t blowing.

Coal might not be popular with environmental groups, but it provides that 24/7 baseload power that keeps the grid stable.

India’s been burned before by power shortages that hurt economic growth, so they’re clearly prioritizing energy security over environmental concerns.

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US stocks, as represented by the benchmark S&P 500 index, have done exceptionally well since the start of 2025. Still, a handful of them are currently in the oversold territory.

For investors, this could mean opportunity, particularly because a few of these oversold names are now flashing buy signals.

Plus, with investors now betting on a possible rate cut in September, technical indicators suggest three heavily sold-off names- Keurig Dr Pepper, Charter Communications, and Hormel Foods – are poised for a significant rebound ahead.

Each has dipped below the critical “30” threshold on the 14-day Relative Strength Index (RSI), a level often associated with oversold conditions and potential upside.

Keurig Dr Pepper Inc (NASDAQ: KDP)

Keurig Dr Pepper has taken a steep tumble, shedding over 17% this week following the announcement to acquire Dutch coffee giant JDE Peet’s in a deal valued at $18 billion.

The market reacted harshly, with HSBC downgrading the stock, citing the acquisition’s hefty price tag and increased leverage.

Analyst Sorabh Daga noted, “We don’t think KDP needed to lever itself up to 6-8x net debt/reported EBITDA to exit the Keurig coffee business.”

Yet, the deal isn’t without merit. The company expects $400 million in cost savings over 3 years and plans to split its beverage and coffee divisions into separate public entities.

With an RSI of 29 and Wall Street analysts projecting a 29% upside on average, KDP shares may be brewing a comeback.

Charter Communications Inc (NASDAQ: CHTR)

Charter Communications, the parent of Spectrum internet services, has seen its shares slide more than 4% this week, continuing a trend of investor skepticism.

Despite secular headwinds, Bernstein recently upgraded the stock to “outperform,” citing its undervalued price.

Analyst Laurent Yoon acknowledged the challenges but remained optimistic: “When something is cheap, it’s cheap for a reason… but we are looking ahead to CHTR’s narrative for ’26.”

With an RSI signaling oversold territory and the mean price target suggesting a potential 54% rally, Charter Communications stock may be nearing a turning point.

If the company can navigate its structural issues, the current weakness could represent a compelling entry point.

Hormel Foods Corp (NYSE: HRL)

Hormel Foods, known for its packaged meats and pantry staples, suffered a sharp 13% drop after disappointing third-quarter earnings.

The miss rattled investors, pushing the stock into oversold territory.

While the results were underwhelming, Hormel’s long-term fundamentals remain intact, supported by its strong brand portfolio and defensive positioning in consumer staples.

The RSI now sits below 30, and analysts see room for recovery as the company adjusts its pricing strategy and cost structure.

For contrarian investors, Hormel stock’s recent plunge may offer a rare opportunity to buy a stable name at a big discount – especially if inflationary pressures ease and margins begin to normalize.

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Alibaba stock price surged to its highest level in March as Chinese equities surged after it published strong financial results on Friday. BABA also jumped after reports showed that it had developed a chip that could challenge NVIDIA. It rose to a high of $136.42, up by 71% from its lowest level this year.

Alibaba to challenge NVIDIA

The Alibaba stock price surged after the WSJ reported that the company had developed a chip that may challenge NVIDIA’s dominance. Most notably, the chip will be fabricated by a local Chinese company instead of TSMC. 

The new milestone comes as the US and China continue battling for technology dominance and as chips become the most important part of the global economy. 

The US has blocked Nvidia and its chip companies, like AMD and Intel, from selling advanced chips to China. It argues that these chips may help the Chinese military develop more advanced equipment. 

China has then gone to the offensive and invested billions of dollars to develop advanced chips. Just recently, the government recommended its companies against buying NVIDIA’s H20 chips after the administration gave it a go-ahead. 

Therefore, the BABA stock price surged as investors anticipated that it would become the next big player in the AI and semiconductor industry. 

Alibaba published modest results

The Alibaba stock price also jumped after the company published modest financial results. Its revenue rose by 2% to $34.5 billion in the second quarter.

Notably, excluding Sun Art and Intime, which the company has disposed of, its revenue growth would have been 10%. The net income jumped by 76% to over $4.8 billion, helped by its equity investments and gains from divested businesses.

The closely-watched Cloud Intelligence Group, which competes with Amazon’s AWS and Microsoft’s Azure, grew by 26% YoY to $4.6 billion as it continued to benefit from the AI demand.

Alibaba’s International Digital Commerce revenue rose by 19% YoY despite Donald Trump’s tariffs. The Chinese e-commerce business made $12.5 billion, a 10% YoY increase. 

However, the company’s Ele.me has come under pressure as competition from JD and Meituan jump. JD’s entry into the sector has led to a race to the bottom, with surging consumer discounts and rider incentives.

China stocks gains and Banma Network IPO

The Alibaba stock price has jumped because of the ongoing surge in Chinese shares as shown by the performance of the Shanghai Composite and equities like Cambricon. 

This stock rebound is mostly because Chinese investors have continued to turn to the market after the collapse of the real estate sector.

Alibaba shares have also jumped after the company decided to spin off its Banma Network Technology, which focuses on creating smart vehicle operating systems and cockpit solutions.

Alibaba stock price forecast

The daily timeframe chart shows that the BABA stock price has rebounded in the past few months, moving from a low of $78.9 in January to $135. It has already crossed the important resistance level at $132, the highest swing on May 14. 

The BABA stock price has jumped above all moving averages, while top oscillators have pointed upwards. Therefore, the stock will likely keep rising as bulls target the key resistance level at $146, its highest point on March 17. A move above that level will point to more gains, potentially to the resistance point at $150. 

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The Dow Jones, S&P 500, and Nasdaq 100 indices and their ETFs moved sideways last week as investors focused on monetary policy and Nvidia earnings. The S&P 500 Index pulled back to $6,460 from the year-to-date high of $6,500.

Similarly, the Dow Jones Index was trading at $45,545, while the Nasdaq 100 fell from $23,965 to a low of $23,415. This article looks at the top catalysts for the indices and the ETFs like VOO, DIA, and QQQ.

US nonfarm payrolls data

The most important catalyst for the Dow Jones, S&P 500, and Nasdaq 100 indices is the upcoming US nonfarm payrolls (NFP) data scheduled on Friday.

This is an important report that will provide more color on the health of the American economy and will help to determine what the Federal Reserve will do in the next meeting. 

In a recent statement at the Jackson Hole Symposium, Jerome Powell, the Fed Chair, hinted that the bank will cut interest rates in September, citing the deteriorating labor market. 

The last report showed that the economy created just 73,000 jobs in July, much lower than what analysts were expecting. This figure will likely be downgraded further based on what happened recently. Traders will want to see the revision. 

The indices and their ETFs will also react to the unemployment rate. Data shows that analyts anticipate that the jobless rate rose to 4.3% in August as the economy created 78k jobs.

A weak jobs report will confirm that the Federal Reserve will cut interest rates in September, which most analysts already expect. The stock market tends to do well when the Fed is cutting interest rates.

Donld Trump tariffs in limbo

The other major catalyst for the Dow Jones, S&P 500, and the Nasdaq 100 is the latest appeal decision on Donald Trump’s tariffs. In a ruling, a bench found that most of Trump’s tariffs are illegal, a move that the stock market would welcome. 

However, the court allowed the tariffs to remain, and the Trump administration appealed. Most analysts believe that the case will go all the way to the Supreme Court, which may side with the administration. 

Corporate earnings

The other minor catalysts for the indices and their ETFs will be corporate earnings. Just a handful of companies will publish their earnings, including names like Carnival, McCormick, Nike, Constellation Brands, and Lamb Weston.

The recent earnings season was highly successful. A report by FactSet shows that 98% of all companies in the S&P 500 Index have published their earnings. Of these 81% of them published an earnings beat, while the earnings growth was 11.9%. This was the third straight quarter of double-digit growth.

Top economic data

Another minor catalyst for the US stock market will be macro data from the United States and other countries. The top data to watch will be the final manufacturing and services PMI, JOLTs job vacancies, and ADP private sector data. 

While important, their impact on the stock market will be muted since all eyes will be on the nonfarm payroll (NFP) data.

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Marvell stock price plummeted by over 18% on Friday after the semiconductor giant published its earnings report. MRVL plunged to a low of $62.87, its lowest level since June 4, and 26% from its highest point this month. So, is it safe to buy the MRVL stock dip or wait for it to plunge further?

Marvell stock plunged after earnings

Marvell Technology’s stock price plummeted even after the company published strong financial results. Its revenue surged by 58% in the second quarter to a record $2 billion.

This revenue growth was driven primarily by the tailwinds in the artificial intelligence (AI) industry and the recovery of it enterprise networking and carrier infrastructure businesses.

AI data center revenue jumped by 70% to $1.4 billion, a trend that may continue as it continues to reach large deals. Its enterprise and carrier revenye rose by 43%, a strong improvement considering that it has been in a slowdown in the past few quarters. 

Marvell’s revenue growth was accompanied by its margin expansion. Gross margin rose to 50.4% from the previous 50.3%, while the operating margin rose to 14.5%. This helped to push its net profit up by 120% to $585 million. The CEO said:

“Marvell’s growth is being fueled by strong AI demand for our custom silicon and electro-optics products, as well as a significant increase in the pace of recovery in our enterprise networking and carrier infrastructure end markets.”

The main reason why the Marvell stock price crashed is that the managment’s forward guidance was weaker than expected. Its guidance was that its revenue for the third quarter will be $2.06 billion, a 36% increase from the same period last year. 

While a 36% annual growth is a good one, it was lower than what analysts were expecting. Historically, Marvell tends to be highly conservative, meaning that its real numbers will likely be better than estimates. 

Marvell stock price also plunged after Nvidia, a top player in the chip industry, warned that its business was slowing. Also, there is a fear that some Chinese companies will disrupt the semiconductor industry. 

MRVL stock price technical analysis

The daily timeframe chart shows that the MRVL stock price has plunged from its highest point in January, when its market cap overtook that of Intel. 

It plunged from a high of $127.30 in January to a low of $47.50 in April. Most recently, the stock formed an ascending channel, which was part of its bearish flag pattern. It has moved below the lower side of this pattern.

Marvell stock price has moved below the 50-day and 100-day Exponential Moving Averages (EMA). It has moved to the strong, pivot, reverse point of the Murrey Math Lines tool. 

Therefore, the most likely scenario is where the Marvell stock price continues plunging, potentially to the year-to-date low of $47.50. It will then bounce back later this year.

Read more: JPM says ignore earnings noise and buy Marvell stock like there’s no tomorrow

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