<ul class="summary-list"><li><keyword id="10952629" type="UNKNOWN" weightage="60" keywordseo="Lightning-eMotors">Lightning eMotors</keyword> shot up as much as 89% on Tuesday after the electric-vehicle maker signed a $850 million partnership deal with a Berkshire Hathaway-backed bus maker.</li><li>Lightning will work with <keyword id="11833484" type="UNKNOWN" weightage="60" keywordseo="forest-river">Forest River</keyword> to deliver up to 7,500 zero-emission buses. </li><li>The company's stock hit its highest price since going public in May through a SPAC deal. </li></ul><a href="https://markets.businessinsider.com/stocks/zev-stock">Shares of Lightning eMotors</a> rose as much as 89% on Tuesday, hitting their highest level since going public via SPAC, after entering a $850 million partnership deal with a Berkshire Hathaway-backed bus maker.Lightning eMotors and will work with Forest River, the largest shuttle-bus maker in North America, to deliver up to 7,500 zero-emission shuttle buses in the US and Canada starting this year to 2025.Lightning shares pared from intraday highs and traded roughly 67% higher as of 2:30 p.m. in New York.The EV maker will build fully electric powertrains at its Loveland, Colorado, facility, and provide charging products and services to Forest River. The powertrain systems will then be shipped to Forest River's factory in Goshen, Indiana, where final assembly will take place for Class 4 and 5 electric passenger buses. The buses will have batteries that can support ranges on a single charge between 80 miles and 160 miles, the companies said in a joint statement. Forest River runs more than 100 bus dealerships in the US and Canada and the vehicles may be sold and serviced there, with the aim to deliver the new shuttle buses to dealerships by the end of 2021.

Lightning eMotors jumps 89% after entering a $850 million EV partnership with Berkshire Hathaway's Forest River

<ul class="summary-list"><li>US stocks closed mixed on Tuesday as investors mulled economic growth and the prospects of the Fed on <keyword id="65493" type="ORGANIZATION" weightage="60" keywordseo="tapering">tapering</keyword> asset purchases.</li><li>The <keyword id="30287" type="CITY" weightage="60" keywordseo="SP">S&amp;P</keyword> 500 and Dow Jones industrial average closed at records while the tech-heavy <keyword id="6357328" type="UNKNOWN" weightage="60" keywordseo="nasdaq">Nasdaq</keyword> slipped.</li><li>Oil rose, gold fell.</li></ul>The S&amp;P 500 and Dow Jones industrial average closed at records on Tuesday, while the Nasdaq slipped, as investors mulled economic growth amid a surging Delta variant and prospects of <keyword id="6355253" type="UNKNOWN" weightage="60" keywordseo="federal-reserve">Federal Reserve</keyword> tapering.The materials, energy, industrials, and financial sectors outperformed on Tuesday, which may be partly attributed to the newly Senate-approved $1 trillion infrastructure bill, Brian Price, head of investment management for Commonwealth Financial Network, said in a client note.Here's where US indexes stood at the 4 p.m. ET close on Tuesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">S&amp;P 500</a>: 4,436.75, up 0.1%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Dow Jones Industrial Average</a>: 35,264.67, up 0.5% (163 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Nasdaq Composite</a>: 14,788.09, down 0.5%</li></ul><a href="https://markets.businessinsider.com/stocks/amc-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">AMC Entertainment</a> <a href="https://markets.businessinsider.com/news/stocks/amc-stock-price-q2-earnings-revenue-profit-beat-meme-stock-2021-8">soared</a> as much as 10% before closing lower turning in a second-quarter loss that was narrower than anticipated. It also reported better-than-expected revenue that marked a sizable jump from last year.Famed short-seller Jim Chanos on Tuesday also <a href="https://markets.businessinsider.com/news/stocks/jim-chanos-amc-short-blasts-retail-day-traders-meme-stock-2021-08">revealed</a> a small short position against the meme-stock favorite.<a href="https://markets.businessinsider.com/stocks/zev-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Lightning eMotors</a> <a href="https://markets.businessinsider.com/news/stocks/lightning-emotors-stock-price-berkshire-hathaway-electric-vehicles-forest-river-2021-8">rose</a> as much as 89%, hitting their highest level since going public via SPAC, after entering an $850 million partnership deal with a Berkshire Hathaway-backed bus maker.Oil prices rose. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">West Texas Intermediate crude</a> was up as much as 3.6%, to $68.90 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, climbed 3.1%, to $71.24 per barrel, at intraday highs.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Gold</a> meanwhile slightly slipped as much as 0.7%, to $1,717.81 per ounce.

Dow, S&P 500 close at records while Nasdaq slips as traders mull economic growth and Fed tapering prospects

Welcome to 10 Things Before the <keyword id="11907548" type="UNKNOWN" weightage="60" keywordseo="opening-bell" source="Orion">Opening Bell</keyword>. If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Let's jump in.<hr />1. Stocks are still marching higher, with <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> taking heart from a steady drop in coronavirus cases. Even downbeat Chinese data could spoil the optimistic mood as the global growth rate in cases stalls. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-global-covid-19-china-pmi-online-gaming-2021-8">Check out the latest moves on the markets.</a>2. You might be able to trade stocks on Paypal soon. The firm hired an investing-industry veteran to lead a team that will explore a stock-trading offering for US customers. It likely won't launch this year,<a href="https://markets.businessinsider.com/news/stocks/paypal-stock-trading-platform-service-us-customers-crypto-rich-hagen-2021-8"> but here's what to look out for.</a> 3. Four other stocks may mimic Support.com's recent short-squeeze surge. The software company could have more room to keep rising, and other stocks including Lightning eMotors and Vinco Ventures could get the meme-stock treatment. <a href="https://www.businessinsider.com/stocks-to-buy-short-squeeze-candidates-sprt-supportcom-gamestop-fintel-2021-8#1-supportcom-1">Here's the full list from Fintel. </a>4. On the docket: CrowdStrike, Sun Pharmaceutical and Hua Xia Bank, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a> 5. Shares of Louisiana's biggest utility provider dipped 4% after Hurricane Ida damages left more than 1 million without power. Entergy said all of its transmission lines were down following the storm, and officials expect the power outage to last for days more. <a href="https://markets.businessinsider.com/news/stocks/entergy-stock-price-hurricane-ida-leaves-1-million-without-power-2021-8">Here's how Ida is impacting the local utility market.</a>6. Mohamed El-Erian thinks the Fed has waited too long to taper, and sees economic instability coming as a result. The Allianz chief economic advisor has repeatedly said that the Fed's dovish tone could put the economy at risk as it slowly trims asset purchases. <a href="https://markets.businessinsider.com/news/bonds/inflation-outlook-federal-reserve-tapering-mohamed-el-erian-slow-economy-2021-8">This is how he thinks things will shake out.</a>7. The crypto bubble will pop - invest in gold instead, says billionaire investor who called the 2008 crash. John Paulson described crypto as a "limited supply of nothing" and is anything but bullish on digital currencies. <a href="https://markets.businessinsider.com/news/currencies/john-paulson-crypto-bitcoin-gold-2008-crash-hedge-fund-inflation-2021-08">Here's why he thinks you should bet on gold to hedge against inflation. </a>8. George Soros isn't betting on China's stock market to rebound. He told investors to be wary of Chinese stocks, warning that those who buy into the recent rally are in for a "rude awakening." <a href="https://markets.businessinsider.com/news/stocks/george-soros-china-stocks-sec-blackrock-gary-gensler-regulatory-crackdown-2021-08">Read the legendary investor's full comments here.</a>9. US tech stocks could jump 10% by the end of the year as investors rotate out of Chinese names. Amid ongoing Chinese regulation, Wedbush's Dan Ives sees a positive market landscape for US-based FAANG stocks, cloud names, and cybersecurity companies. <a href="https://markets.businessinsider.com/news/stocks/tech-stocks-outlook-bullish-wedbush-faang-china-regulations-market-ives-2021-8">See the stocks he's particularly bullish on.</a>10. Morgan Stanley revamped its 'Vintage Values' stock list that's crushed the S&amp;P 500 over the past year. The 15-stock selection includes Alphabet and Coca-Cola. <a href="https://www.businessinsider.com/stock-picks-to-buy-now-beat-the-sp500-morgan-stanley-2021-8#2-apollo-global-management-2">Here's the full list. </a><hr />Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

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Lightning eMotors jumps 89% after entering a $850 million EV partnership with Berkshire Hathaway's Forest River

Carla Mozée

Dow, S&P 500 close at records while Nasdaq slips as traders mull economic growth and Fed tapering prospects

Isabelle Lee

10 things before the opening bell

Phil Rosen