Coal stocks were trading higher on Wednesday morning after the U.S. Supreme Court blocked President Obama's Clean Power Plan intended to cut emissions from power plants.
Bloomberg noted that a 5–4 order halts the Environmental Protection Agency's Clean Power Plan until the final months of Obama's term. The publication added that the Supreme Court's vote "casts doubt" on the ultimate fate of the clean power plan.
Related Link: The Coal Conundrum For Transporation ETFs
Shares of Peabody Energy Corporation BTU were surging higher by nearly 30 percent ahead of Wednesday's market open, while Cloud Peak Energy Inc. CLD were higher by more than 25 percent.
CONSOL Energy Inc. CNX's stock was trading higher by more than 10 percent, and shares of Cliffs Natural Resources Inc CLF were higher by around 6 percent.
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