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Wall Street's main indexes ended higher on Thursday, led by growth stocks in light trading, as U.S. unemployment data signaled the Federal Reserve's interest rate hikes might be starting to dent labor market strength in its bid to fight inflation.

Wall Street's main indexes rose on Thursday, led by growth stocks in light trading, as U.S. unemployment data signaled the Federal Reserve's interest-rate hikes might be starting to dent labor market strength in its bid to fight inflation.

Is turmoil surrounding Tesla ( NASDAQ: TSLA ) spilling over to NIO ( NYSE: NIO )? Does NIO's latest warning portend further share-price declines? There are no easy answers to these top-of-mind questions. Nevertheless, I am bullish on NIO stock as financial traders have seen every glass as half-empty, and bearish sentiment has reached an extreme level. Nio is a well-known China-based electric vehicle (EV) manufacturer. Developed nations across the world have made various commitments to support clean-energy movements, including vehicle electrification. Knowing this, some investors bought NIO stock in hopes of easy gains. As it turned out, there were no easy gains in 2022. A confluence of challenges in China and elsewhere, along with collateral EV-market damage from Tesla's troubles, have put NIO stock in the doghouse this year. Yet, from the depths of despair, an epic resurgence can emerge in 2023, and Nio's loyal investors may be handsomely rewarded for their patience. Don't Punish All EV Companies for Elon Musk's Eccentric Behavior Is Tesla CEO Elon Musk brilliant, an oddball, or both? I'll let you decide for yourself, but it's no secret that Musk likes to stir the proverbial pot with his controversial statements. This may help to explain the extreme volatility in Twitter (when it was public) and Tesla shares, but Musk's antics shouldn't cause sensible financial traders to dump NIO stock. As you may recall, Musk posted a poll on Twitter asking whether people thought he should leave his post as CEO of that company. The majority of responses said yes, and Musk plans to step down as Twitter's CEO as soon as he can find a replacement for that position. This incident might prompt some investors to question Musk's leadership ability. Is he stable enough to run Twitter and Tesla? As investors pondered this question in late 2022, TSLA stock declined sharply, and since it's a bellwether EV stock, it dragged NIO stock down with it. Personally, I relish the opportunity to pick up stocks that have suffered collateral damage. Musk's unpredictable nature has nothing to do with NIO, but some traders apparently went ahead and panic-sold their NIO shares. If you believe in buying what amateur traders are selling, this is a chance to buy NIO stock near the bottom of its 52-week range, which is $8.38 to $33.80. Nio's Warning Sets Up for a Relief Rally Next Year From time to time, companies will warn their shareholders in order to get the bad news out of the way. It's discouraging when this happens, but value hunters should consider not selling their NIO shares. Instead, they can view NIO’s cautionary tone as a chance to take a long position, as the next data release might be better than expected. Musk is sometimes known for his boastful demeanor. In contrast, NIO’s management took a humble and cautionary tone in its latest update. The press release admitted that NIO has been "facing challenges in deliveries and productions, together with certain supply chain constraints" due to the Omicron COVID-19 strain's spread in China. Consequently, NIO has been unable to reach its "full capacities" in terms of EV deliveries. More specifically, the automaker lowered its fourth-quarter 2022 vehicle delivery estimate from the previous range of 43,000 - 48,000 to 38,500 - 39,500. NIO stock dropped after the release of this revised outlook. Many traders seemed to ignore the positive news that Nio's "EC7 and the All-New ES8" EV models are "expected to commence delivery in May and June 2023, respectively." The company already unveiled these exciting vehicle models as part of NIO Day 2022, which took place on December 24. Even while retail traders hastily sold their NIO shares near the 52-week low, analysts are fairly optimistic about the stock's future prospects. So, let's see how they rated NIO. Is NIO Stock a Buy, According to Analysts? Turning to Wall Street, NIO stock comes in as a Moderate Buy based on nine Buys and four Hold ratings. The average Nio price target is $16.29, implying 63% upside potential. Conclusion: Should You Consider NIO Stock? With zero Sell ratings and the potential for substantial gains over the next 12 months, NIO stock should be on every EV-industry investor's radar. There's no need to let the soap opera surrounding Musk deter anyone from standing by NIO for the long term. Expect some volatility for a while, but consider dipping into NIO shares at a reduced price while amateur traders are anxious for all the wrong reasons. Special end-of-year offer: Access TipRanks Premium tools for an all-time low price! Click to learn more. Disclosure

The U.S. Treasury Department said Thursday that electric vehicles leased by consumers starting Jan. 1 can qualify for up to $7,500 in commercial clean vehicle tax credits, a decision that makes those assembled outside North America eligible.

Technology and growth stocks lifted Wall Street's main indexes higher on Thursday after data pointing to signs of a cooling U.S. labor market eased worries about future interest rate hikes by the Federal Reserve.

What happened Shares of electric vehicle makers Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) and Lucid Motors (NASDAQ: LCID) were rocketing higher today, up 8.4%, 6.2%, and 6.2%, respectively, as of 11:27 a.m. ET.

Senate Energy and Natural Resources Committee chair Joe Manchin on Thursday urged the U.S. Treasury to pause implementation of commercial and consumer electric vehicle tax credits.

The U.S. Treasury Department said Thursday that electric vehicles leased by consumers starting Jan. 1 can qualify for up to $7,500 in commercial clean vehicle tax credits, a decision that makes those assembled outside North America eligible.

In early trading on Thursday, shares of Tesla topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.2%. Year to date, Tesla Inc has lost about 65.7% of its value.

In early trading on Thursday, shares of Tesla topped the list of the day's best performing components of the S&P 500 index, trading up 6.7%. Year to date, Tesla has lost about 65.9% of its value.

Technology and growth stocks lifted Wall Street's main indexes higher on Thursday after data pointing to signs of a cooling labor market eased worries over future interest rate hikes by the U.S. Federal Reserve.

Wall Street's main indexes were set to open higher on Thursday as data pointing to signs of a cooling labor market eased worries over future interest rate hikes by the U.S. Federal Reserve.

Economic uncertainty has hit the S&P 500 like a wrecking ball this year, sending the benchmark index spiraling into a bear market. But the drawdown has been especially devastating for electric car company Tesla (NASDAQ: TSLA). Its share price has plummeted 72% year to date, w

The NASDAQ 100 Pre-Market Indicator is up 105.87 to 10,785.21. The total Pre-Market volume is currently 36,853,042 shares traded.The following are the most active stocks for the pre-market session: Tesla, Inc. (TSLA) is +5.7206 at $118.43, with 5,181,732 shares traded. TSLA's cu

U.S. stock index futures gained on Thursday ahead of labor market data that will give clues on future interest rate hikes, while Tesla extended gains after top boss Elon Musk told staff to ignore the "stock market craziness".

Electric-car maker Tesla (NASDAQ: TSLA) is set to report deliveries for its fourth quarter early next week. The company usually reports quarterly deliveries a few days after the calendar quarter ends, so Tesla will provide an update on fourth-quarter deliveries on Monday.

Lithium prices have seen a remarkable bull run in 2022 due to the higher demand from the EV (Electric Vehicle) sector and tight supply. However, Pingwei Wang, Chairman of the Chinese Lithium mining company, Sinomine Resource Group, sees prices cooling off in 2023,  Bloomberg reported. A decline in the price of lithium, which is a key battery component, should bring some respite to EV makers , who are battling higher costs and supply shortages.  In an interview with  Bloomberg, Pingwei said lithium prices have moderated after a stellar run in the past couple of years. Moreover, he expects prices to drop further as more supply hits the market. Wang believes lithium carbonate prices could decline to CN¥400,000/ton in 2023 from the current price of CN¥527,500/ton.  The drop in lithium prices will help EV manufacturers' margins, which have suffered as a result of rising battery prices. Along with higher battery costs, the increase in the prices of other metals like copper and aluminum remained a drag.  Cost headwinds, increased competition, production challenges, and China’s tight COVID policy have taken a toll on the stocks in the EV space. Shares of top EV makers like Tesla ( NASDAQ:TSLA ), Nio ( NYSE:NIO ), and Rivian Automotive ( NASDAQ:RIVN ) have decreased by about 68%, 69%, and 83%, respectively.  While these stocks have lost substantial value, let’s look at what Wall Street analysts recommend about them.  Why Is Tesla Stock Dropping in 2022?  Apart from the reasons mentioned above, Tesla CEO  Elon Musk’s acquisition of Twitter and discount on its vehicles had a negative impact on the company’s stock. Given the challenges, analysts are cautiously optimistic about TSLA stock.  It has received 19 Buys, 10 Holds, and two Sells for a Moderate Buy consensus rating. Meanwhile, these analysts’ average price target of 270.04 implies a significant 139.59% upside potential to the current levels.  What Is the Prediction for Nio Stock? Citing the supply-chain challenge,  NIO lowered its Q4 delivery outlook. While Nio stock has lost significant value, it has received nine Buy and four Hold recommendations from Wall Street. It carries a Moderate Buy consensus rating on TipRanks.  Also, analysts’ average price target of $16.29 implies 66.22% upside potential based on its closing price of $9.80 on December 28.  Is RIVN a Buy or Sell? RIVN stock has slumped on production challenges. However, most analysts continue to favor the stock. Its Moderate Buy consensus rating is based on 12 Buys, four Holds, and two Sells.  Moreover, these analysts’ average price target of $42.13 represents 137.49% upside potential.  Bottom Line The expected decline in lithium prices, analysts’ buy recommendations, and solid upside potential make these EV stocks attractive. However, the ongoing production and competitive headwinds could remain a drag in the near term and limit the upside in these stocks.  Special end-of-year offer: Access TipRanks Premium tools for an all-time low price!  Click to learn more . Disclosure

What happened Any time an industry is in turmoil, a company within it can see notable volatility in its stock price, with some movements making less sense than others. On Wednesday, one of the more up-and-down titles in the sector, Carvana (NYSE: CVNA), saw a counterintuitive ris

Tesla Inc Chief Executive Elon Musk told employees that they should not be "bothered by stock market craziness" after the company's shares fell nearly 70% this year on jitters over softening demand for electric vehicles and Musk's distraction with running Twitter.

Wall Street's main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.