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Investing.com -- Aqua Metals, Inc. (NASDAQ:AQMS) stock soared 20% after the sustainable battery metals recycling company announced a multi-year Material Supply Agreement (MSA) with 6K Energy, a U.S.-based producer of advanced cathode active materials.

The agreement establishes a framework for Aqua Metals to supply battery-grade nickel metal and lithium carbonate produced using its proprietary AquaRefining process. The initial three-year deal could represent tens of millions of dollars in annual battery-materials value, subject to qualification, market conditions, and scale-up.

Under the terms, 6K Energy will have the option to purchase Aqua Metals’ production at prices based on current London Metal Exchange trading prices. The agreement anticipates both companies completing their respective facility expansions to support the partnership.

"This agreement represents an important step in Aqua Metals’ transition from technology validation to customer-aligned commercialization," said Steve Cotton, President and CEO of Aqua Metals. "By establishing a supply framework with a U.S.-based cathode manufacturer, we are aligning our battery-grade nickel and lithium products with downstream manufacturing requirements and building a clear pathway toward commercial integration."

The companies highlighted that materials supplied under the agreement are expected to meet Foreign Entity of Concern compliance requirements, supporting efforts to build secure domestic battery materials infrastructure.

Aqua Metals’ AquaRefining technology reportedly achieves a 98% reduction in greenhouse gas emissions compared to standard hydrometallurgical processes while delivering approximately $1,100 per metric ton in cost savings. The system operates without hydrogen peroxide or sodium hydroxide and produces zero sodium sulfate waste.

The MSA also includes potential for future collaboration, including evaluation of tolling arrangements for lithium-ion battery black mass, supporting Aqua Metals’ strategy to develop a feedstock-agnostic refining platform.

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Investing.com - Futures linked to Canada’s main stock index was little changed on Wednesday, after the average sank to its worst day in two months in the prior session.

By 07:48 ET (12:48 GMT), the S&P/TSX 60 index standard futures contract was hovering just above the flatline.

On Tuesday, the S&P/TSX composite index fell by 1% to 32,750.28, retreating from a recently-logged all-time peak.

Along with renewed geopolitical and trade tensions between the U.S. and Europe, investors were also digesting a spike in Japanese government bond yields ahead of a snap election in the country next month.

Yet losses were mitigated by the materials sector, which includes metal mining stocks. The segment has been bolstered by a surge in gold prices, reflecting a flight by many traders to the perceived safety of bullion.

U.S. futures drop

U.S. stock index futures pointed lower, giving up earlier gains. The previous session saw bruising losses ahead of President Donald Trump’s upcoming speech the World Economic Forum in Switzerland.

At 08:01 ET, Dow Jones Futures had fallen 102 points, or 0.2%, S&P 500 Futures dropped 6 points, or 0.1%, and Nasdaq 100 Futures dipped 48 points, or 0.2%.

The main averages on Wall Street fell sharply Tuesday, weighed by a resurgence in both geopolitical and trade tensions following President Trump’s threat to slap additional tariffs on several European countries unless his demands for U.S. ownership of Greenland were met.

The blue chip Dow Jones Industrial Average slipped more than 870 points, or about 1.8%, the S&P 500 lost 2.1% and the NASDAQ Composite slumped 2.4%, with all three benchmark indices logged their worst daily performances since Oct. 10. U.S. Treasury yields also surged, sending the benchmark 10-year note to its highest level since August.

Trump heads to Davos

The focus now turns to Trump’s scheduled speech at the World Economic Forum in Davos, Switzerland, later in the session, where he is expected to press his right to Greenland, a semi-autonomous Danish territory that the U.S. president has said the U.S. needs for national security reasons.

Trump appeared on Tuesday to strike a more conciliatory tone on the matter, saying he wanted to secure a deal that will make America’s NATO allies “very happy”, but he has remained insistent that Greenland needs to belong to America.

"Greenland will be the dominant theme today and there may be scope for de-escalation,” said analysts at ING, in a note.

“Trump is meeting EU leaders in Davos today, and if the past year has shown anything, it’s that face‑to‑face engagement tends to provide the best opportunity for tensions with the U.S. president to ease.”

Still, investors are jittery as Trump continues to warn that he could slap further 10% tariffs on eight European countries over Greenland — and raise them to 25% in June if he does not get his way.

Netflix slides on weak outlook

This is set to be a busy week for quarterly earnings, and Netflix reported its December quarter earnings after the market close Tuesday.

The streaming giant beat market expectations, but its first-quarter guidance came in short. The company flagged declining viewership of non-branded licensed titles, indicating that demand outside its premier in-house content was weakening. Its shares headed sharply lower premarket.

The numbers came shortly after California-based Netflix improved its $72 billion offer for Warner Bros Discovery’s studios and streaming division, in an attempt to bolster its stance in a bidding war with Paramount Skydance.

On the flip side, United Airlines stock rose strongly premarket after the carrier beat quarterly profit expectations and issued an upbeat outlook for the current quarter and the full year, buoyed by strong demand from higher‑income and corporate travelers.

There are more earnings set for release Wednesday, including from Johnson & Johnson, Halliburton and Travelers.

Procter & Gamble, GE Aerospace, Intel, Abbott Laboratories and Intuitive Surgical will report earnings on Thursday.

Gold climbs to new high

Gold prices soared to fresh record highs on Wednesday, surpassing $4,800 an ounce, as escalating tensions linked to Greenland and renewed trade frictions rattled global markets and drove investors toward safe-haven assets.

Spot gold recorded a new all-time high of $4,888.13/oz earlier in the day, while U.S. gold futures climbed 2.1% to historic highs of $4,866.10/oz.

Oil slips

Elsewhere, oil prices dropped sharply amid concerns for global growth from the U.S. tariff threats.

Both contracts closed nearly 1.5% higher on Tuesday after OPEC+ producer Kazakhstan halted output at two of its oilfields, potentially limiting global supply.

Beyond geopolitical tensions, a monthly report from the International Energy Agency is due later in the session, while eyes will also be on the latest reports of U.S. crude oil and gasoline stockpiles this week.

Investing.com -- Bank of America on Wednesday upgraded Oklo (NYSE:OKLO) stock to Buy from Neutral after the nuclear technology company signed a firm, binding agreement with Meta Platforms (NASDAQ:META) to develop a phased 1.2 gigawatt advanced nuclear campus.

Oklo shares jumped over 4% in premarket trading Wednesday. 

BofA analyst Dimple Gosai sees the deal as a clear signal that the business is moving from “concept” to “execution.”

He raised the price objective on Oklo to $127 from $111. Gosai said the new, higher price objective is driven mainly by an expansion in peer multiples, alongside incremental revenue from the agreement.

The Meta agreement includes customer prepayments that allow early development work to begin ahead of final power purchase agreements (PPAs).

Gosai said while the near-term megawatt contribution is modest, the deal offers “tangible proof of execution and counterparty commitment,” adding that investors are increasingly focused on evidence that advanced nuclear projects are progressing beyond the conceptual stage.

Meta has already prepaid $25 million for the first phase, covering around 150 megawatts, to fund fuel procurement, site preparation and early development activities.

Gosai noted that this structure allows execution to start before final PPAs and licensing approvals, and said the prepayments “meaningfully de-risk the power business,” though investors continue to monitor PPA timing, refundability mechanics and equity issuance.

The analyst also addressed recent investor concerns around Switch contracting small amounts of geothermal power. He said the geothermal agreement, at roughly 13 megawatts starting around 2030, is incremental and consistent with Switch’s multi-technology approach, and does not displace the roughly 12 gigawatts of potential capacity under the Oklo-Switch framework.

BofA updated its long-term model to reflect the Meta deal, conservatively assuming four phases of development and treating only around 30% of the 1.2 gigawatts as incremental to prior assumptions.

The changes lifted projected 2036 revenue to $5.9 billion from $5.5 billion previously.