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S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What’s Driving Markets Thursday?

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, which dampened risk sentiment.

ACN

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Solar Stocks Heated Up On Wednesday: Here’s Why

Several solar stocks including First Solar, Inc. (NASDAQ: FSLR), Sunrun Inc. (NASDAQ: RUN), SolarEdge Technologies, Inc. (NASDAQ: SEDG) and SunPower Corporation (NASDAQ: SPWR), rallied significantly on Wednesday, potentially driven by reports of lawmakers advocating for an investigation into Chinese solar firms.

FSLR

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Solar Stocks Are Rallying Wednesday: What’s Going On?

Shares of several solar companies, including Canadian Solar Inc. (NASDAQ: CSIQ), Enphase Energy, Inc. (NASDAQ: ENPH), First Solar, Inc. (NASDAQ: FSLR), and SolarEdge Technologies, Inc. (NASDAQ: SEDG), are trading higher Wednesday afternoon, possibly in response to President Joe Biden's recent announcement of increased tariffs on Chinese imports, which included a significant hike on solar cells.

CSIQ