Industrial Stocks: China Spurs Rally

Hopes that Beijing will act this week to stimulate China's economy and an improvement in a measure of Chinese manufacturing sentiment helped lift a variety of industrial stocks in the U.S. on Wednesday.

Shares of construction equipment maker Caterpillar ( CAT), for example, were surging 12.5% to $25.28, outpacing a broader rally that saw the Dow rise 2.2%. CNH Global ( CNH) shares were up 5.5% to $6.50, and Kubota ( KUB) was up 7.3% to $25.18.

Aluminum concern Alcoa ( AA), meanwhile, was rising 11.4% to $6.16, miner Freeport-McMoRan ( FCX) was up 13.9% to $32.25, and mining equipment maker Joy Global ( JOYG) was up 10.6% to $17.53

Rio Tinto ( RTP), which mines and processes mineral resources, also got a hearty boost Wednesday. Its shares were recently up 11.2% to $103.08. In a similar vein, BHP Billiton ( BHP) was climbing 8% to $37.85.

Elsewhere:
  • U.S. Steel (X) was up 6.4% to $18.31.
  • Nucor (NUE) was up 6.8% to $34.31.
  • Commercial Metals (CMC) was up 7.9% to $10.25.
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