Energy stocks were on a mission Monday as solar energy stocks took the MarketSmith Top 10 list. At the same time oil and gas stocks continue their persistent march higher.
Biden announced a executive action with put a two-year pause on solar equipment tariffs coming from Cambodia, Malaysia, Thailand and Vietnam. Imports from these countries would be allowed to restart following the Monday comments from the White House.
Additional executive orders will allow for domestic U.S. production of solar panels and other clean-energy technologies. The Defense Production Act was cited as a means to engage with domestic industries, while spurring increased production of U.S. manufactured solar panels.