PG&E Delays $2 Billion in Spending After Fire Liability Setback

PG&E's decision to postpone $2 billion in spending following its wildfire liability setback signals reduced financial flexibility and could pressure the stock in the near term. The shares fell 18.9% over the last 24 hours to $13.375, reflecting the market's swift reaction to the negative news. While the RSI at 37.3 approaches oversold territory, the MACD remains negative and below its signal line, confirming weak momentum. The price is just below the SMA20 and well below the SMA50, supporting a downward short-term trend. Selling pressure is likely to persist due to the news impact, though oversold conditions may limit the pace of further declines.

GOOGL declined 2.6% in the last session, with the price trading below both its 20-day and 50-day moving averages. The RSI at 44 indicates weak momentum, while the MACD line, although above the signal line, remains in negative territory. The news headline is not directly related to GOOGL, but it could be interpreted as a development that negatively impacts overall market risk appetite. Given the weak short-term technical outlook, the price is expected to test support at the $337 level, and a potential breakdown could lead to further declines. However, since the news has limited direct impact on the company, the confidence in the bearish expectation is maintained at a moderate level.