Dow Inc. Futures Drop 130 Points; Partners with X-Energy After $1.02B IPO
Dow Inc. futures fell by 130 points as rising oil prices and US-Iran tensions offset semiconductor stock gains. Dow also signed an agreement with X-Energy, which raised $1.02 billion by selling 44.3 million shares at $23 in its IPO, to power its facilities with small modular nuclear reactors.
1. Pre-Market Futures Decline
Dow Inc. futures fell by 130 points in pre-market trading as rising crude oil prices and escalated US-Iran tensions offset gains in semiconductor stocks. Traders showed caution ahead of the weekend, fearing elevated energy costs could weigh on broader growth.
2. X-Energy Partnership for Nuclear Power
Dow entered an agreement with X-Energy, which raised $1.02 billion by selling 44.3 million shares at $23 each in its IPO, valuing the firm at $9.1 billion. Under the deal, X-Energy will supply small modular nuclear reactors to power Dow’s industrial facilities, with first deliveries targeted in the early 2030s.