Shares of metal and materials companies are trading lower amid overall market weakness following a rise in Treasury yields after yesterday's FOMC statement. Also, weekly initial jobless claims data came in below estimates, which could encourage more rate hikes.
Portfolio Pulse from Benzinga Newsdesk
Materials companies' shares are trading lower due to overall market weakness following a rise in Treasury yields after the FOMC statement. The lower-than-expected weekly initial jobless claims data could encourage more rate hikes.
September 21, 2023 | 6:11 pm
News sentiment analysis
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NEGATIVE IMPACT
BHP's stock is trading lower due to overall market weakness and rising Treasury yields.
BHP, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
CGA's stock is trading lower due to overall market weakness and rising Treasury yields.
CGA, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
CRKN's stock is trading lower due to overall market weakness and rising Treasury yields.
CRKN, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
CX's stock is trading lower due to overall market weakness and rising Treasury yields.
CX, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
FCX's stock is trading lower due to overall market weakness and rising Treasury yields.
FCX, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
JHX's stock is trading lower due to overall market weakness and rising Treasury yields.
JHX, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
LTHM's stock is trading lower due to overall market weakness and rising Treasury yields.
LTHM, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
MLM's stock is trading lower due to overall market weakness and rising Treasury yields.
MLM, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
VALE's stock is trading lower due to overall market weakness and rising Treasury yields.
VALE, being a materials company, is directly affected by the overall market weakness and the rise in Treasury yields. This could lead to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75