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Tuesday, May 30, 2023
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Midday Stock Roundup

 Indexes rose and bond yields fell after the Federal Reserve raised higher interest rates and lowered its growth forecasts for the remainder of the year.

The S&P; 500 Index rose 0.2% to 4,364.33 in midday trading, while the Dow 30 was up 0.1% to 34,110.85 and the Nasdaq was flat at 13,441.20.

Crude oil surged 8.3% to $102.88 a barrel.

Gold rose 1.9% to $1,946.30 an ounce.

The yield on a 10-year bond was 1.3% lower at 2.160%.

ELECTRIC VEHICLES

Shares in the Brea-based electric vehicle maker, Mullen Automotive Inc. (Nasdaq: MULN), rocketed 42% higher to $2.50 per share and a market cap of $86.5 million after Yahoo Finance Live identified it as an “EV stock standout” that is thriving among falling EV stocks.

ENERGY

Newport Beach provider of renewable natural gas Clean Energy Fuels Corp. (Nasdaq: CLNE) jumped 7% to $7.84 per share and a market cap of $1.9 billion. Shares in the company have climbed 25% in the last three weeks since it reported revenue for the fourth quarter of 2021 was $91.9 million, a 22.6% increase from the prior year.

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Audrey Kemp
Audrey Kemp
Audrey Kemp is a staff reporter and occasional photojournalist for the Orange County Business Journal. Her beats include — but are not limited to — healthcare, startups, and education. While pursuing her bachelors in literary journalism at UC Irvine, she interned for New York-based magazine Narratively Inc., wrote for Costa Mesa-based lifestyle magazine Locale, and covered the underground music scene for two SoCal-based music publications. She is an unwavering defendant of the emdash and the Oxford comma.
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