What's Going On With FuelCell Energy Stock?

FuelCell Energy Inc FCEL shares are trading higher by 11.4% to $1.56 Thursday morning. Stocks across sectors are trading higher amid overall market strength after the Fed left rates unchanged, with most Fed officials seeing rate cuts in 2024-2026.

For capital-intensive industries like renewable energy, changes in interest rates can affect the cost of borrowing money. If interest rates decrease or remain low, it could mean cheaper access to capital for companies like FuelCell Energy.

Lower borrowing costs can make it more affordable for them to fund projects, expand operations or invest in research and development.

Stocks in the clean energy space could also be postively reacting to the United Nations Climate Change Conference (COP28), which concluded with "an agreement that signals the 'beginning of the end' of the fossil fuel era," according to the UNFCCC.

What Happened With The Fed?

The Federal Reserve maintained the federal funds rate at 5.25%-5.5%, suggesting a pause in the rising rate trend since March 2022. Despite acknowledging decreased inflation, concerns persist about its elevated state, emphasizing the aim to return to the 2% target.

The Fed reaffirmed decisions based on incoming data, signaling a cautious approach to future policy adjustments...Read More

See Also: November Retail Sales Rebound, Jump 4.1% From 1 Year Ago

According to data from Benzinga Pro, FCEL has a 52-week high of $4.36 and a 52-week low of $0.98.