Shares of steel stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday. On September 13, Senator Casey announced that the United States Trade Representative finalized an increase on Section 301 tariffs.
Portfolio Pulse from Benzinga Newsdesk
Steel stocks are experiencing a rise in share prices due to an increase in metal prices following a 50 basis point rate cut by the Fed and an increase in Section 301 tariffs announced by Senator Casey.
September 19, 2024 | 3:26 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
ArcelorMittal shares are likely to benefit from the rise in steel prices due to the Fed's rate cut and increased tariffs.
The increase in steel prices, driven by the Fed's rate cut and higher tariffs, is likely to positively impact ArcelorMittal's stock as it benefits from higher revenue potential.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nucor Corporation is expected to see a positive impact on its stock price due to rising steel prices following the Fed's rate cut and tariff increase.
Nucor's stock is likely to benefit from the increase in steel prices, as the Fed's rate cut and higher tariffs enhance the company's revenue prospects.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Steel Dynamics is likely to experience a positive impact on its stock price due to the rise in steel prices following the Fed's rate cut and increased tariffs.
The rise in steel prices, driven by the Fed's rate cut and increased tariffs, is expected to positively affect Steel Dynamics' stock by boosting revenue potential.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80