The S&P; 500 climbed 0.3% to 4,703.38 in midday trading. The Dow Jones Industrial Average was flat at 35,881.05.
The Nasdaq increased 0.5% to 15,994.10.
The yield on a 10-year Treasury bond dropped 1.3% to 1.584%.Oil was up 0.1% at $78.46 a barrel.The price of gold decreased 0.3% to $1,864 an ounce.
ELECTRIC VEHICLES
Irvine electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) dropped 13.2% to $126.71 per share and a market cap of $112.1 billion. Finance publication Barron’s today said investors can “expect [Rivian] shares to stay volatile,” because no Wall Street analysts are covering the stock yet.
MANUFACTURING
Shares of the Cypress-based maker of electric vehicle batteries Romeo Power Inc. (NYSE: RMO) were down 12.9% to $4.50 apiece for a $604.1 million market cap. While Romeo’s third-quarter results surpassed analysts’ expectations this week, its stock has slumped about 57% on a year-to-date basis.
