ChargePoint Holdings (NYSE: CHPT) stock was rising today as investors pushed up market indices. The S&P 500 was up by 2.7%, and the tech-heavy Nasdaq Composite gained 3.4% as investors processed news about the U.K. reversing course on proposed tax cuts.  

Investors were also optimistic that better-than-expected results from two U.S. banks may mean the economy is stronger than they had expected. As a result, ChargePoint's share price was up by 4.4% as of 2:05 p.m. ET.

While there wasn't any company-specific news that was driving ChargePoint's stock higher today, investors were likely reacting to the U.K.'s decision to mostly abandon its recent tax-cutting plans.

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Source Fool.com