Solar stocks are moving higher after-hours on news that Senator Joe Manchin reached an agreement with Senate Majority Leader Chuck Schumer to vote on a package aimed at supporting alternative energy and lowering healthcare costs while reducing the federal deficit.
Among other things, the Inflation Reduction Act proposes a 15% corporate minimum tax, help lower the cost of health insurance and drugs, and invest in all types of energy - solar, hydrogen, nuclear, renewables, fossil fuels and energy storage.
In after-hours trading, ( RUN ) +6% , ( FSLR ) +4.4% , ( SPWR ) +3.8% , ( CSIQ ) +2.7% , ( JKS ) +2.5% , ( ENPH ) +2% , ( SEDG ) +1.8% .
Potentially relevant ETFs include: ( NYSEARCA: TAN ), ( FAN ), ( NASDAQ: ICLN ), ( NASDAQ: QCLN ), ( PBW ), ( PBD ), ( ACES ), ( CNRG ), ( SMOG ), ( ERTH )
more to come...
For further details see:
Manchin reaches surprise deal with Schumer on energy, healthcare package