Shares of metals and materials stocks are trading lower. Weakness may be due to overall macro concerns on rate hike fears.
Portfolio Pulse from Benzinga Newsdesk
Shares of metals and materials stocks are trading lower due to overall macro concerns on rate hike fears. Companies like AA, BHP, RIO, and VALE are mentioned.
September 07, 2023 | 7:39 pm
News sentiment analysis
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NEGATIVE IMPACT
Alcoa Corporation (AA) shares are trading lower due to macro concerns on rate hike fears.
Rate hikes generally increase the cost of borrowing, which can negatively impact companies like AA that are capital intensive. This can lead to lower stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
BHP Group (BHP) shares are trading lower due to macro concerns on rate hike fears.
Rate hikes generally increase the cost of borrowing, which can negatively impact companies like BHP that are capital intensive. This can lead to lower stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Rio Tinto (RIO) shares are trading lower due to macro concerns on rate hike fears.
Rate hikes generally increase the cost of borrowing, which can negatively impact companies like RIO that are capital intensive. This can lead to lower stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Vale S.A. (VALE) shares are trading lower due to macro concerns on rate hike fears.
Rate hikes generally increase the cost of borrowing, which can negatively impact companies like VALE that are capital intensive. This can lead to lower stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100