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Tesla Leads Green Stocks Rally as Senate Passes Climate Bill

  • EV maker’s stock also getting a boost from a nickel deal
  • Tesla the top contributor to S&P 500’s gains on Monday
A Tesla Supercharger station in Fremont, California.

A Tesla Supercharger station in Fremont, California.

Photographer: Nina Riggio/Bloomberg
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Electric vehicle and renewable energy stocks rallied after the US Senate passed a key tax, climate and health-care bill, which Democrats called the largest investment in fighting climate change ever made in the country.

Tesla Inc. shares charged ahead, rising as much as 5.3% and on pace to wipe off most of its losses from Friday, while smaller EV makers including Rivian Automotive Inc. and Lucid Group Inc. and Detroit-based traditional automakers Ford Motor Co. and General Motors Co. also jumping higher.