Stock Market Update
24-Aug-26 12:00 ET
Steel producers higher on Canada trade headlines
Dow +182.58
at 53459.59,
Nasdaq -98.53
at 26102.96,
S&P -9.67
at 7664.70
[BRIEFING.COM] The major averages remain little changed from previous levels at midday.
Steel stocks are rallying after U.S.-Canada trade negotiations fell through. Canada is a major supplier of U.S. steel imports, and the 50% tariff should provide additional protection for domestic producers by limiting Canadian imports. Cleveland-Cliffs (CLF 11.74, +0.46, +4.13%), Nucor (NUE 248.06, +4.43, +1.82%), and Steel Dynamics (STLD 232.86, +4.18, +1.83%) are notable beneficiaries, while steel consumers such as General Motors (GM 86.38, -1.55, -1.76%) and Ford Motor (F 13.82, -0.59, -4.09%) are under pressure.
