Canada will adjust its counter-tariffs on steel and aluminum imports from the US on July 21 in line with progress in trade negotiations, Prime Minister Mark Carney said on Thursday. Carney did not specify the new tariff rates but said the changes would reflect developments in talks with Washington.
Japan's Nippon Steel has completed its $14.1 billion acquisition of United States Steel Corporation (NYSE:X), creating one of the world's largest steel producers with an annual capacity of 86 million tons, the companies said on Wednesday. The combined entity will maintain US Steel's name, Pittsburgh headquarters, and commitment to producing steel that is “Mined, Melted, and Made in America.
Evaluating the sentiment in any underlying stock is as simple as checking who is buying (and how much) and who is selling. However, seeing unusual buying or selling activity is only half the equation; the other half is up to investors to figure out whether these buyers or sellers are right in their decisions to position themselves.
U.S. Steel (X) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
President Trump signs executive order allowing U.S. Steel partnership with Japan's Nippon Steel, with an $11 billion investment commitment.
United States Steel Corp (NYSE:X) stock is up 5.1% to trade at $54.84 at last glance, after President Donald Trump approved a $14.9 billion merger with Japan's Nippon Steel through an executive order on Friday.
U.S. Steel's so-called “partnership” with Nippon appears to be nearing its end after about 18 months after it was announced.
Administration officials secured a deal that will give the president unusual influence over a private company, and could serve as a model for other deals.
After a scorching 35% rally in just three weeks, United States Steel NYSE: X is sitting at levels not seen since 2010. Powered by a wave of trade protectionist sentiment and renewed optimism over a $14 billion acquisition bid from Japan's Nippon Steel, the industrial giant is suddenly in the spotlight.
Currently both the blue-chip Dow and the tech-heavy Nasdaq are down -100 points, with the S&P 500 down -20.
Asian currencies consolidated against the dollar but may be buoyed by President Trump's announcement to double U.S. tariffs on imports of steel and aluminum to 50% from June 4.
President Donald Trump touts Nippon Steel's partnership with U.S. Steel, calling it “a blockbuster agreement" that ensures the company “stays an American company."