Shares of several companies in the auto & auto component sector, including Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Tesla Inc (NASDAQ:TSLA), are all trading higher amid overall market strength ahead of today’s Fed decision. Stocks have been volatile in recent weeks as investors continue to monitor the Russia-Ukraine conflict and its impact on commodity prices.
Recent volatility in oil prices has also helped lift EV-related companies, after U.S. President Joe Biden last week announced a ban on Russian oil, natural gas and coal imports.
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Ford is trading higher by 2.6% at $16.48.
GM is trading higher by 3.5% at $43.60.
Tesla is trading higher by 4.1% at $834.42.
