X
<

Why Did the S&P 500, NASDAQ, and Dow Rise to Record Highs?

PART:
1 2 3
Part 2
Why Did the S&P 500, NASDAQ, and Dow Rise to Record Highs? PART 2 OF 3

Nucor: S&P 500’s Top Gainer on October 11

Top gainers

The S&P 500’s top gainers on October 11 were:

  • Nucor (NUE) rose 3.6%.
  • Target (TGT) rose 2.7%.
  • PayPal Holdings (PYPL) rose 2.6%.
  • Flir Systems (FLIR) rose 2.6%.
  • Colgate-Palmolive (CL) rose 2.5%.

Nucor: S&#038;P 500’s Top Gainer on October 11

Interested in CMC? Don't miss the next report.

Receive e-mail alerts for new research on CMC

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Nucor 

Nucor, which is the largest steel producer in the US, was the S&P 500’s top gainer on October 11, 2017. Reports about a potential deal between Commercial Metals Company (CMC) and Gerdau North America improved the sentiment in the steel industry.

The buying pressure in steel stocks rose on Wednesday. American Metal Market reported that Commercial Metals might buy Reber mills from Gerdau (GGB)—the largest long steel producer in the US. According to the report, Gerdau’s mills that are for sale include mills in Beaumont, Jacksonville, Knoxville, and Sayreville in New Jersey and the mill in Rancho Cucamonga, California. In the report, American Metal Market added that Commercial Metals might also make a deal with Gerdau to buy fabrication operations as well.

On October 11, Nucor rose 3.6% and closed the day at $57.34—the highest close in two months. Commercial Metals rose 6.9% and closed the day at the highest levels since July 25. On the other hand, Gerdau fell 1.7%.

In the next part of this series, we’ll discuss how PayPal performed on October 11, 2017.

X

Please select a profession that best describes you: