Midday movers: Nvidia, Tesla, SoFi Technologies and more
Investing.com -- Stocks are mixed on Tuesday on hopes about a tentative agreement on the debt ceiling despite objections from some lawmakers. Here are the market movers for May 30.
- NVIDIA Corporation (NASDAQ: NVDA) shares rose 3.5% and hit a $1 trillion market value after introducing a new slate of artificial intelligence products, including a supercomputer, to meet swelling demand. Shares of other AI firms also rose, including C3 Ai Inc (NYSE: AI), which jumped 24%.
- Tesla Inc (NASDAQ: TSLA) shares rose 3.1% after CEO Elon Musk paid a visit to China, where he is expected to tour the electric vehicle maker's Shanghai factory.
- SoFi Technologies Inc. (NASDAQ: SOFI) stock rose 8.5% after the deal on raising the nation's debt ceiling included a provision that student loan repayments would resume after the pandemic-era pause.
- Exxon Mobil Corp (NYSE: XOM) shares fell 1.5% after oil tumbled 4% on Tuesday. Other oil stocks also fell, including Chevron Corp (NYSE: CVX), down 1.1% and Marathon Oil Corporation (NYSE: MRO), down 2.7%.
Iovance Biotherapeutics Inc (NASDAQ: IOVA) shares rose 13% after the Food and Drug Administration approved its license application for an advanced skin cancer therapy.
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