Materials Stocks Climb On Tax Cut, Trade Hopes - Materials Roundup
Shares of commodities producers rose amid anticipation of a tax cut in the U.S. The U.S. Senate passed a budget blueprint, opening the way for a procedure that Republicans plan to use to rewrite the tax code with just GOP votes. Stimulus from a tax cut could bolster construction activity and, hence, materials prices. Shares of steel makers rose after mixed earnings from domestic producer Nucor. Nucor Chief Executive John Ferriola expressed confidence that the Trump administration would impose additional tariffs on imported steel but admitted some concern about the length of time the effort was taking.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
October 20, 2017 16:31 ET (20:31 GMT)