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Barchart
Barchart
Rich Asplund

Stocks See Support from Metal Producers after Trump Slaps Tariffs on Steel and Aluminum

The S&P 500 Index ($SPX) (SPY) today is up +0.39%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.87%.  March E-mini S&P futures (ESH25) are up by +0.35%, and March E-mini Nasdaq futures (NQH25) are up by +0.92%. 

Stock indexes today are mildly higher, led by gains in US metals makers and mining stocks after President Trump imposed a 25% tariff on US steel and aluminum imports.  The tariff increases also boosted gold prices to a record high and copper prices to a 4-month high.  M&A activity is also supportive of stocks after Hyatt Hotels agreed today to purchase Playa Hotels & Resorts NV for $13.50 per share, or about $2.6 billion.

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