Whether you are a fan of tariffs or not, it turns out that the top U.S. steel and aluminum companies appear to like the news of 25% tariffs on steel and aluminum. Some of these companies have had to deal with foreign competitors dumping metal at below-market prices over time. Where that stands now is on a case by case basis.
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How this will ultimately impact the prices of U.S. goods remains to be seen. Ditto for the future earnings of these U.S.-based companies.
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For the record, tariffs being enacted should not really be a surprise. They were part of the Trump pledge in his campaign and they were enacted in various rates in Trump’s first administration.
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Oggonomics is simply covering the tariff enactments showing the reactions in the major companies stock price to the tariffs news on Monday (Feb. 10) and the following morning (Feb. 11). These are being covered without comment and only in the larger companies with screens as most of the companies have issued earnings and/or guidance for 2025 during earnings season.
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The Dow rose less than 0.5% to 44,470.41 on Monday, while the S&P 500 rose about 0.6% to 6,066.44.
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United States Steel Corp. (NYSE: X) rose 4.65% to $38.70, with a $8.7 billion market cap. U.S. Steel was up 0.5% at $38.90 the following morning.
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Steel Dynamics, Inc. (NASDAQ: STLD) rose about 4.9% to $132.87, with a $20.2 billion market cap. It was up 0.9% at $134.05 the following day.
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Nucor Corporation (NYSE: NUE) rose 5.6% to $137.53, with a $32.3 billion market cap. It was up 1.7% to $139.90 the following morning.
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Cleveland-Cliffs Inc. (NYSE: CLF) rose 17.9% to $11.84, with a $5.85 billion market cap. CLF was up 4% at $12.25 on the following day.
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Alcoa Corp. (NYSE: AA) rose 2.2% to $36.92, with a $9.5 billion market cap. It was up 0.9% to $37.25 the following day.
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Century Aluminum Company (NASDAQ: CENX) rose 10.2% to $20.60, with a $1.9 billion market cap. It was up 1.9% at $21.00 the following day.
