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U.S. Steel comes out with a full year profit hike, citing President Trump's new steel tariffs.
The U.S. will impose a 25% tariff on steel imports and a 10% tariff on aluminum.
The company's largest driver to use U.S. steel on the exterior of its cars is likely logistics, not patriotism. Meanwhile, the company uses various parts on the interiors of its vehicles that are made using steel from across the globe.
American steel producers have been enduring big swings this week, as Wall Street weighs the implication of the administration's new tariffs. But these two steel giants look ready to rally even as the rest of the industry remains in flux.
The U.S. steel production industry is far bigger than the three publicly traded companies who are large advocates of the latest duties, and industry watchers are concerned global tariffs will harm far more than they help.
U.S. steelmakers rose in stock market trading Monday on reports that President Donald Trump wants to impose new tariffs on imports of aluminum and steel.
The Nasdaq wasn't able to hold on to gains from earlier in the session.
The Commerce Department is reportedly pushing for a global tariff of 24% on steel imports.
A study of analyst recommendations at the major brokerages shows that Steel Dynamics Inc. is the #11 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel.
Wall Street is still stunned by Tuesday's vicious market rout. The big question everyone is asking: What's the next move?
Although equity index futures are lower, this whole thing has been taken in stride. For now.
While the U.S. mulls an exit from Nafta, a weak dollar and tax incentives could precipitate an influx of domestic investment. Here are the top names to own.
The Trump administration is reportedly asking Congress for nearly $18 billion to construct more than 700 miles of new barriers along the U.S.-Mexico border.
A study of analyst recommendations at the major brokerages shows that Steel Dynamics Inc. is the #15 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel.
There were no big surprises from the Federal Reserve so markets held at the same levels as before the announcement.
Stocks retreat from all-time highs set earlier in the day Wednesday as the Fed opts to leave rates unchanged, but did signal that further rate increases were forthcoming.
Stocks rally to begin November as strong earnings continue to drive gains and investors take a small delay in the GOP's tax cut plan in stride.
The economy and the rising dollar combine to support a rally in steel stocks.
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