Hydrogen stocks are climbing higher on Thursday thanks to news of Democrats reaching an agreement on climate change legislation.
The big news is Sen. Joe Manchin, an often holdout on Democrat-introduced legislation, agreeing to support the Inflation Reduction Act of 2022. This act includes $369 billion that’s designated toward climate change and green energy uses.
Manchin controls the swing vote in the Senate and frequently stops Democrats from moving legislation forward. He did so with the prior attempt to combat climate change as he wanted to wait for additional inflation data for July.
The Senate intends to vote on this new legislation next week. So long as it passes, it will move onto the House of Representatives, which is currently controlled by the Democrats. After that, it will likely end up on President Joe Biden’s desk to be signed into law, CNBC notes.
It makes sense that hydrogen stocks are rising on today’s news. It opens the companies up to additional funding while moving the U.S. toward green energy. Let’s see just how the news is affecting those stocks below!
Hydrogen Stocks on the Rise Today
- Plug Power (NASDAQ:PLUG) stock starts us off with the company’s shares seeing a more-than-23% increase Thursday morning.
- FuelCell Energy (NASDAQ:FCEL) shares are next with the company’s stock climbing over 6% as of this writing.
- Bloom Energy (NYSE:BE) stock finishes out the list of hydrogen stocks rising with a more-than-18% gain this morning.
Investors seeking more stock market news are in the right place!
InvestorPlace has all of the latest stock news traders need to know about today! A few examples include what’s got shares of Better Therapeutics (NASDAQ:BTTX), Palantir Technologies (NYSE:PLTR), and ChargePoint (NYSE:CHPT) moving today. You can find out all about that at the links below!
More Thursday Stock Market News
- Why Is Better Therapeutics (BTTX) Stock Up 27% Today?
- What’s Going on With Palantir (PLTR) Stock Today?
- ChargePoint (CHPT) Stock Powers Up on New Climate Deal
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.