Stocks rose on Wednesday as investors were optimistic that a deal on the debt ceiling would be reached. Western Alliance Bancorporation (WAL) saw the biggest gains, up 13.8%, while Zions Bancorporation (ZION) and PacWest Bancorp (PACW) rose 11.4% and 21% respectively. Tesla Inc (TSLA) shares rose 4.2% after CEO Elon Musk said he would stay at the helm of the electric vehicle maker. Target Corporation (TGT) shares rose 2.6% after the retailer beat expectations in the first quarter. Evgo Inc (EVGO) shares dropped 17.8% after the maker of electric charging stations said it was raising $125 million in a new stock sale. Kyndryl Holdings Inc (KD) shares fell 9.6% after the IBM spinoff forecast a possible fall in fiscal year 2024 revenue.
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