Stocks Surge as U.S. House Passes Crucial Debt Ceiling Bill, Senate Next in Line
Stocks made gains on Thursday following the passage of a debt ceiling bill by the U.S. House of Representatives. This development is seen as a significant step to prevent a U.S. default, and the bill will now proceed to the Senate for further consideration.
Stock markets closed on a positive note today, with all major indices showing gains. The S&P 500 closed at 4,228.47, up 48.64 points or 1.16%. The DJIA finished at 33,138.19, gaining 229.92 points or 0.70%. The NYSE closed at 15,058.81, up 171.67 points or 1.15%. The NASDAQ had the highest gain, closing at 13,127.55, up 192.27 points or 1.49%.
Lucid Group Inc (LCID) led the market today after announcing the commencement of a public offering of 173,544,948 shares of its common stock on May 31st. LCID’s current price stands at $6.41, experiencing a decrease of $1.36 or 17.46%. The stock saw a high trading volume of 131.0 million shares.
U Power Ltd (UCAR) emerged as the biggest gainer in today’s trade, as its shares surged higher following the announcement of a strategic cooperation agreement with Quantum Solutions Co in Japan. UCAR’s current price is $9.52, reflecting a substantial increase of $6.41 or 206.11%. The stock witnessed a trading volume of 113.6 million shares.
On the other hand, Clearone Inc (CLRO) experienced the most significant loss in today’s trade. CLRO’s current price is $1.09, showing a decrease of $1.20 or 52.41%. The stock had a trading volume of 2.6 million shares.
Overall, the market closed on a positive note, driven by strong performances from Lucid Group Inc and U Power Ltd. It is important to note that stock market fluctuations are subject to various factors and investors should conduct their own research before making any investment decisions.
Disclaimer: The information in this article is for informational purposes only and should not be regarded as financial advice. Investing in the stock market carries inherent risks, and individuals should consult with a professional financial advisor before making any investment decisions.
