Plug Power, Fuel Cell and solar stocks soar after Manchin changes course to back climate spending

Shares of clean energy companies soared Thursday, after Democratic Sen. Joe Manchin pulled an about-face and agreed to an economic bill that includes climate spending. “Details of the bill are not yet available, but based on commentary from the Senators, we expect spending on clean energy (including hydrogen, nuclear and renewables) as well as fossil fuels,” analyst Mark Strouse at J.P. Morgan wrote in a note to clients. The iShares Global Clean Energy ETF
ICLN,
+5.94%
shot up 5.3% in premarket trading, while futures
ES00,
+0.72%
for the S&P 500
SPX,
+0.77%
fell 0.2%.. Within the ETF, shares of Plug Power Inc.
PLUG,
+22.99%
powered up 15.1%, FuelCell Energy Inc.
FCEL,
+5.46%
hiked up 13.0%, SunPower Corp.
SPWR,
+16.09%
surged 14.4%, SunRun Inc.
RUN,
+26.27%
shot up 12.5%, FirstSolar Inc.
FSLR,
+14.65%
ran up 12.8% and Ballard Power Systems Inc.
BLDP,
+11.37%
rallied 6.9%.