Shares of Tesla Inc. TSLA tacked on 1.3% in premarket trading Friday, to put them on track for a sixth-straight gain, amid broad gains among its electric vehicle peers. The stock, which was headed toward a 3 1/2-month high, had rallied 13.5% over the past five sessions. A six-day win streak would be the longest since the 8-day stretch that ended Feb. 9. Tesla could receive $1.8 billion in production tax credits in 2023 under the Inflation Reduction Act, nearly four-times what General Motors Co. could receive, Bloomberg reported, citing a Benchmark Mineral Intelligence report. Among other EV makers, shares of China-based Nio Inc. NIO ran up 4.1%, Rivian Automotive Inc. RIVN gained 1.4%, Nikola Corp. NKLA advanced 2.6%, Lucid Group Inc. LCID rose 0.3% and China-based XPeng Inc. XPEV hiked up 5.9%. The gains come as futures ES00 for the S&P 500 SPX rose 0.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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