WSJ Your Money Briefing

Episode: What’s News in Markets: Investor Jitters, Retail Rivalries, Nuclear AI
Host: Telis Demos, The Wall Street Journal
Date: November 22, 2025

Episode Overview

This episode delivers a brisk and insightful recap of the week’s biggest stories moving the U.S. markets. Host Telis Demos highlights a climate of investor skittishness—especially in high-profile sectors like AI—along with dramatic shifts in retail performance and a groundbreaking development in the intersection of artificial intelligence and nuclear energy. The episode is rich in context for investors, consumers, and anyone interested in how broader economic and technological trends shape personal finances.

Key Discussion Points & Insights

1. Market Jitters: Sell-Offs and Defensive Moves

(00:37–02:20)

• Early-Week Sell-Offs: Investors sought exits from not only high-flying AI stocks—concerned about “inflated valuations and overly aggressive spending”—but also traditional safe havens like bitcoin and gold.

• Notable Rally Cut Short: Nvidia's blowout $57 billion quarterly revenue momentarily sparked rallies across global markets (Tokyo to New York). However, even Nvidia’s momentum couldn’t sustain gains, and the sell-off resumed.

• Fed Uncertainty: The markets' unease was heightened by shifting expectations about Federal Reserve rate cuts, especially after a delayed but better-than-expected September jobs report.

  • Quote:

    “Good news for job seekers was bad news for risk takers.” — Telis Demos [01:40]

• Indexes Performance:

  • Dow: Down 1.9%
  • S&P 500: Down more than 1.9%
  • Nasdaq: Down 2.7%

2. Retail Rivalries: Home Improvement and Big Box Showdowns

(02:20–03:17)

• Home Depot: Cut its full-year outlook as hoped-for demand failed to materialize. Price increases offset tariffs, and unremarkable storm activity reduced demand for certain goods (e.g., roofing, plywood).

  • Stock reaction: Shares plunged 6% on Tuesday.

• Lowe’s: Defied its rival by posting higher Q3 sales, credited to strong online sales and growth in its builder supply business. Optimism hinted at a possible recovery despite widespread economic uncertainty and high interest rates.

  • Stock reaction: Up 4% on Wednesday; up 2.8% for the week.
  • Contrast:

    “While economic uncertainty, a stalled housing market, and high interest rates have led homeowners to delay remodeling and repair projects, Lowe's expressed optimism that the downturn might be starting to reverse.” — Telis Demos [02:49]

• Target: Announced a further $1 billion in store upgrades (totaling $5 billion next year) to improve customer experience, merchandise, and technology.

  • Stock reaction: Fell 2.8% on Wednesday; down 2.5% for the week.

• Walmart: Attracting budget-conscious shoppers; raised its outlook after strong quarterly sales.

  • Stock reaction: Jumped 6.5% on Thursday; ended up 2.8% for the week.
  • Insight:

    “If people are focused on the basics and willing to hunt for discounts, that might say something pretty concerning about the state of mind of the American consumer.” — Telis Demos [03:08]

3. Nuclear AI: A Major Federal Investment in Powering the Future

(03:17–04:24)

• Constellation Energy & Three Mile Island: The U.S. government will provide a $1 billion loan to restart Three Mile Island’s undamaged reactor (the site of America’s worst nuclear accident in 1979) to generate electricity for Microsoft’s AI operations.
  • Deal specifics:
    • 20-year power purchase agreement with Microsoft
    • Will add ~800 megawatts of power to the grid, crucial for “tech industry’s insatiable demand for 24/7 power needs for its AI data centers.”
  • Stock reaction: Constellation shares gained 5.3% Wednesday; closed the week down 0.1%.
  • Significance:

    “AI, it’s going nuclear... Constellation will revive that undamaged reactor with the power generated to be sold to Microsoft under a 20 year deal.” — Telis Demos [03:42]

    “Helping with the tech industry’s insatiable demand for 24/7 power needs for its AI data centers.” — Telis Demos [03:59]

Notable Quotes & Memorable Moments

• On Market Fears:

  “Investors, they just wanted out. They wanted out of AI stocks, fearing inflated valuations and overly aggressive spending.” — Telis Demos [00:54]

• Retail’s Divergent Fortunes:

  “Lowe's expressed optimism that the downturn might be starting to reverse.” — Telis Demos [02:49]

• Walmart’s Broad Appeal:

  “Shoppers of all incomes are flocking to rival Walmart for a good deal.” — Telis Demos [03:00]

• Microsoft’s Nuclear AI Ambitions:

  “The plant will add around 800 megawatts of power generation to the grid, the energy secretary said, helping with the tech industry's insatiable demand for 24/7 power needs for its AI data centers.” — Telis Demos [03:59]

Timestamps for Key Segments

• Market Sell-Offs and Fed News: 00:37–02:20
• Home Improvement Retailers: 02:20–02:49
• Target and Walmart Updates: 02:49–03:17
• Constellation Energy Nuclear Deal: 03:17–04:24

Summary: What’s News in Markets

This week’s episode delivers a nuanced look at unexpected investor caution, divides in the retail sector, and an unprecedented federal partnership to power AI data centers with nuclear energy. While some familiar names struggled with shifting consumer priorities, others—like Lowe’s and Walmart—tapped into fresh growth areas. The bold move to revive Three Mile Island underscores how technology’s power needs are reshaping old industries.

Listeners gain actionable context for their investments, as well as insight into how economic shifts and technological ambitions intersect with personal finance decisions.