Shares of commodities producers ticked up as strong consumer and housing-market data boded well for U.S. economic activity. Shares of domestic steel producer AK Steel Holding plunged after it posted a quarterly loss. Traders braced for more earnings disappointments from United States Steel, which reports earnings after the closing bell. Analysts at brokerage Axiom Capital warned that expectations of higher steel prices now look misplaced, given the recent slowdown in auto sales. The demand outlook for one grade of plastic is, however, bright, according to one brokerage. There is a "global synchronous recovery in polyester," said analysts at Morgan Stanley, in a research note, citing "rising supply rationalization, improving demand with the ban on recycled plastic, and industry consolidation in the past five years."
Continue Reading Below
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
October 31, 2017 16:04 ET (20:04 GMT)