Hot or Not, Stock Market Edition: 01/09/2026

Here’s what’s hot and what’s not in the market today, according to our Zen Ratings system:

• Hot: L3Harris Technologies (LHX) breaks out on defense momentum; Agnico Eagle Mines (AEM) catches gold rally wave
• Not: NiSource (NI) slips despite data center plans; OGE Energy (OGE) stalls with mixed signals

P.S. Don’t miss our latest video featuring 3 massively undervalued stocks to buy and hold in 2026. Get the tickers here

A note from our sponsors...

🔥 HOT: Gold miner Agnico Eagle Mines (AEM) is on a tear — the stock is up an astounding 124% in the past year. Yet it’s still a B (Buy) rated stock in our Zen Ratings system. Here’s why: 1) Margins. Higher gold prices are flowing straight to the bottom line, and efficient operators like AEM are seeing outsized benefits. 2) Gold's structural tailwinds — including geopolitical uncertainty, inflation concerns, and central bank buying — continue to support precious metals. 3) AEM's strong operational track record and improving margins make it a compelling way to play the yellow metal's rally. And yes, the stock earns a B (Buy) Zen Rating, ranking in the top 10% of the 4600+ stocks we track. It also boasts impressive Component Grades: an A for Momentum, and above-average Bs for Financials and Safety. The bottom line? It looks like gold’s momentum has staying power, though investors should be prepared for the volatility inherent in commodity-linked stocks.

🥶 NOT: Regulated electric utility stock OGE Energy (OGE) is down about 8% in the past month, and just got downgraded for a Zen Rating of C (Hold) to D (Sell). The issues here are multiple. First, recent headlines highlight "mixed short-term returns and conflicting valuation signals" — Wall Street speak for "we're not sure what to make of this." Second, the company’s fundamentals appear to be faltering. Second, technically, the stock is trending below most of its moving averages with weak momentum indicators. Looking at the Component Grades for further confirmation of the downtrend, OGE earns an F for Momentum, ranking in the lowest 3% of stocks we track for this metric. The Sentiment grade is similarly disturbing — also an F, in the lowest 5% of stocks we track. While OGE scores slightly better on Value (56, C grade) and Financials (56, C grade), those aren't enough to overcome the other fundamental issues. The bottom line? Utilities are supposed to offer stability and income, but OGE delivers neither compelling growth nor investor enthusiasm. With the stock downgraded to Sell and no clear catalyst on the horizon, income-focused investors can find better opportunities in the utility sector or in dividend aristocrats elsewhere.

🔥 HOT: Defense contractor L3Harris Technologies (LHX) is up over 5% in the past week — part of  trend of defense companies trending higher, possibly in response to President Trump's social media post where he said he wants to increase the 2027 military budget from $1 trillion to $1.5 trillion. Additionally, rising tensions in Venezuela and broader international conflicts are amplifying demand for defense systems — and LHX products appear to be in the mix, according to the company's CFO. Additionally,  the company announced an $845M divestiture of its space propulsion business alongside a strategic reorganization aimed at streamlining operations and sharpening focus on core defense capabilities. In addition to these promising catalysts, the stock was just upgraded from a C (Hold) rating to a B (Buy) rating in our Zen Ratings system. 

Looking at the Component Grades, LHX has above-average B grades across Momentum, Growth, and Safety — a winning combo for investors looking for lower-risk investments with significant upside potential. (Want more safer stocks? Check this out.) For investors seeking exposure to the defense sector with a quality name, LHX offers an attractive entry point.

🥶 NOT: Utility operator NiSource (NI) is shaping up to be a classic case of hype outrunning reality. The company recently unveiled a massive $28 billion capex plan tied to Amazon data centers — a move that should be transformative on paper. And yet, the stock keeps lagging, and the data tells a very different story. NI was just downgraded from a Zen Rating of C (Hold) to D (Sell), which sent us digging deeper. What we found wasn’t encouraging. Across the Component Grades, NI posts straight C scores in every single factor—a signal that points to sideways performance at best. The contrast is hard to ignore: splashy headlines and a bullish data-center narrative on one side, and persistent underperformance on the other. While the Amazon partnership sounds compelling in theory, execution risk and valuation concerns appear to be weighing heavily on investor sentiment. With the Zen Rating now at Sell and no standout strengths in the underlying metrics, the risk-reward profile looks unappealing. For now, there are simply better places to put capital to work. (Related reading: When is it time to sell a stock?)

What to Do Next?

• 77 Best Stocks NOW! >
• See All “A” Rated Stocks with +32.52% Average Annual Return >
• 2 New Stocks to Buy from Steve Reitmeister >

Want to get in touch? Email us at news@wallstreetzen.com.