Major Wall Street indices closed over 1% higher on Thursday after the much-awaited year-end rally materialized in the form of dip-buying. The Nasdaq Composite closed 2.59% higher while the S&P 500 rose 1.75%. The Dow gained 1.05%. Here are the five stocks that are drawing investors’ attention:
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1. Tesla Inc TSLA: Shares of Tesla ended 8.08% higher on Thursday. The rally continued from Wednesday’s rebound following Elon Musk’s call to employees asking them not to be “bothered by stock market craziness.” In an email — sent to staff on Wednesday, which Reuters reviewed — Musk said he believes Tesla will be the most valuable company on earth in the long term.
2. Apple Inc AAPL: Apple shares ended 2.83% higher on Thursday. The iPhone maker’s primary chipmaker Taiwan Semiconductor Manufacturing Company Ltd TSM has commenced mass production of its most advanced chips in southern Taiwan.
3. Ford Motor Company F: Shares of Ford closed 5.39% higher on Thursday. The Treasury Department said on Thursday that electric vehicles leased by consumers can qualify for up to $7,500 in commercial clean vehicle tax credits beginning 2023, reported Reuters. The Internal Revenue Service released an initial list of eligible 2023 EVs, which includes Ford, Rivian Automotive Inc RIVN, Chrysler-parent Stellantis NV STLA, and Nissan, the report said.
4. Southwest Airlines Co LUV: Southwest Airlines said it plans to return to normal operations on Friday following days of running at a third of its usual capacity owing to disruptions caused by a massive winter storm, reported Reuters. Shares of the company closed 3.7% higher.
5. Hoth Therapeutics Inc HOTH: Shares of the company closed 143.64% higher on Thursday. The Food and Drug Administration (FDA) has accepted an Investigational New Drug (IND) application for the company’s HT-001 therapeutic for the treatment of rash and skin disorders, it said in a statement.
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