Investing.com - Aluminum company Alcoa (NYSE:AA) jumped in midday trading, while cannabis and industrial stocks also rallied.
Alcoa stock rose 6.5% at 11:55 AM ET (15:55 GMT).
Shares rallied after Norway’s Norsk Hydro announced it would be shutting its Alunorte alumina refinery in Brazil after operational and embargo problems.
Meanwhile, cannabis stocks rallied after Canopy Growth announced a partnership with one of its units and the Ontario Long Term Care Association to test the use of medical marijuana on treating pain and cognitive function in seniors.
Canopy Growth (NYSE:CGC) rose about 4.5%, Tilray (NASDAQ:TLRY) gained about 7.5% and Aurora Cannabis (OTC:ACBFF) climbed about 3%.
In sectors, momentum for industrial stocks continued with the North America trade conflicts in the rearview mirror. The new deal between the U.S., Canada and Mexico gives some clarity on how many stocks in the sector will fare.
The S&P Industrial Sector index rose about 0.6%.
Trade-sensitive stocks were notably strong. Caterpillar (NYSE:CAT) rose about 2%, FedEx (NYSE:FDX) climbed about 1.6% and Deere & Company (NYSE:DE) was up about 2%.