Top Stock Movers Now: Tesla, Vistra, US Steel, and More
Key Takeaways
U.S. equities rebounded from yesterday’s selloff at midday Friday, driven higher by expectations of the need for more nuclear energy and Tesla’s (
TSLA
) recovery from the fallout from its disappointing delivery 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.
Along with Tesla, shares of rival Rivian Automotive (
RIVN
) gained when the company reported it produced more EVs in 2024 than it had estimated, and said a component shortage that limited production last year has been resolved.
Ford Motor (
F
) and General Motors (
GM
) shares climbed when the automakers posted their best annual sales in the U.S. since 2019.
U.S. Steel (
X
) shares sank when President Joe Biden announced he was blocking Nippon Steel’s takeover of the steelmaker, citing national security concerns. Shares of rival Cleveland-Cliffs (
CLF
), whose earlier offer to buy U.S. Steel was rejected, dropped as well.
Shares of Molson Coors Beverage (
TAP
), Constellation Brands (
STZ
), and other alcohol firms declined when U.S. Surgeon General Dr. Vivek Murthy warned about a link between drinking and cancer.
Oil futures rose. Gold prices fell. The yield on the 10-year Treasury note was little changed. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded in the green.
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