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MARKETS LIVE BLOG:

STOCKS RISE AS TECHS REVIVE, WITH NETFLIX EARNINGS ON TAP

Tesla shares slide to 52-week low; stock is down roughly 40% year-to-date

Midday movers: Nvidia, Tesla, SoFi Technologies and more

Investing.com
·1 min read

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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