Stocks Hold Gains; Steel And Cement Issues Lead | Stock News & Stock Market Analysis

U.S. stock indexes showed no inclination to give back gains in early afternoon trade Tuesday, as steel and infrastructure stocks rumbled higher.

X The Nasdaq hustled 1.2%, while the small cap Russell 2000 and the S&P 500 added 0.8% and 0.6% respectively. The blue chip Dow Jones industrial average inched up 0.2%.

Volume in the stock market today was 35% to 45% higher, wasting no time shaking the post-Christmas slowdown.

Steel stocks led the day’s gainers. United States Steel (X) rushed ahead 5%. Carpenter Technology (CRS) stabbed 4% higher. Steel Dynamics (STLD) gained 4%.

The cement group headed for a seventh consecutive daily gain in a row.

Eagle Materials (EXP) rose 3%. Vulcan Materials (VMC) echoed the gain. Martin Marietta Materials (MLM) added 2%. A Newsweek story Tuesday said the congressional Republicans’ first priority in 2018 will be an infrastructure package.

Blue chips were skipping the day’s bullishness. While most stocks in the Dow were up, the top-weighted stocks were either down or up little. The Dow is a price-weighted index.

In the S&P 500, medical products provider Baxter International (BAX) gapped up 5%, clearing a shallow consolidation.


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Originally posted 2018-01-02 18:59:32.


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