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Ethanol players climb following the Trump administration’s move to waive summer gas regulations

Ethanol-exposed companies are climbing on Thursday, following the Trump administration’s move yesterday to waive summertime limitations on the sale of E15 gas, a blend of fuel containing 15% ethanol.

Sale of the higher-ethanol blend is limited in about half of the US over the summer months to lessen smog. Including this year, those limitations have been waived for five summers in a row. According to Axios reporting, E15 typically costs about $0.10 to $0.40 less per gallon while delivering slightly lower fuel economy.

Ethanol companies are climbing on the decision, with Rex American Resources up more than 5%, Green Plains up 3%, and Gevo up about 2%. Rex and Gevo also closed higher on Wednesday.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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