Stock Market Update

[BRIEFING.COM] The major averages are little changed from previous levels, holding solid gains amid broad strength. 

This morning's sole earnings reporter, Cleveland-Cliffs (CLF 16.55, +3.23, +24.25%), trades sharply higher despite delivering a mixed Q3 report.

The company's statement that Q3 marked a clear sign of demand recovery for U.S.-made automotive-grade steel was key. Management credited this rebound to the new trade environment implemented by the Trump Administration, which favors domestically produced steel. The company has recently secured growing, multi-year supply deals with all major automotive OEMs.

Additionally, Cleveland-Cliffs revealed that geological surveys at two of its sites (in Michigan and Minnesota) show promising signs of rare-earth mineralization. If confirmed, this could position the company as a strategic player in critical material independence—much like it has become in steel.