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Steel names open higher as Trump said to lean toward harsh tariffs

Published 02/26/2018, 10:13 AM
© Reuters.  Steel names open higher as Trump said to lean toward harsh tariffs
STLD
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CLF
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NUE
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X
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  • Steel stocks rally at the open following reports after Friday's close that Pres. Trump wants to impose the harshest tariffs on imports of steel and aluminum: X +2.4%, AKS +3.8%, CLF +2.9%, NUE +0.6%, STLD +0.5%, RS +0.3%, SCHN +1.3%.
  • Trump's apparent wishes would reinforce the recommendations of Commerce Secretary Ross, who has recommended options including imposing a global tariff of at least 24% on imports of steel and 7.7% on aluminum.
  • ETFs: SLX, JJU, FOIL
  • Now read: Cleveland-Cliffs: Price Target Exceeded And Upcoming Conference Call


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