Tesla, Vistra US Steel and More: Top stock Movers Right Now

The Key Takeaways

• U.S. equities were higher at midday, bouncing back from yesterday's selloff on optimism about growing demand for nuclear power and Tesla's recovery from its dip.
• Vistra Energy, NRG Energy and Constellation Energy all saw their shares rise as a result of the need to provide more power for data centres that use artificial intelligence.
• President Biden blocked Nippon Steel's purchase of U.S. Steel on national security grounds.

U.S. equities recovered from yesterday’s sale at noon on Friday. This was driven by the expectation of more nuclear power and Tesla (TSLA), which has been recovering from the negative fallout following its disappointing deliveries numbers. The Dow Jones Industrial Average, S&P 500, and Nasdaq were up. 

Vistra (VST), NRG Energy (NRG), and Constellation Energy (CEG) were among the best-performing stocks in the S&P 500, adding to their already strong 2024 performance on growing demand for electricity to power artificial intelligence (AI) data centers.

Rivian Automotive’s (RIVN) shares rose along with Tesla after the rival company announced it was producing more EVs by 2024 than they had anticipated. They also reported a solution to a production shortage last year.

Ford Motors (F) shares and General Motors’ (GM) share prices rose after the two automakers reported their highest annual sales since 2019 in the U.S.

U.S. Steel shares dropped after President Joe Biden said he would block Nippon Steel from acquiring the steelmaker citing concerns about national security. Cleveland-Cliffs shares (CLF), which had earlier offered to purchase U.S. Steel but was turned down, also fell.

The shares of Molson Coors Beverage, Constellation Brands and other alcohol companies declined after the U.S. Vivek M. Murthy, Surgeon General of India, warned that drinking alcohol can cause cancer.

Oil futures rose. Gold prices fell. Gold prices fell. The U.S. currency lost ground in relation to the euro and other currencies. The majority of major crypto currencies traded in green.

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