- Construction and industrial stocks are on the rise but off earlier highs, following reports that the Trump administration is preparing a nearly $1T infrastructure proposal: FLR +8.2%, VMC +8.4%, EXP +8.5%, MLM +6.7%, CAT +5.1%, SUM +9.2%, ACM +6%, J +4.6%, PWR +3.6%.
- Still sporting double-digit percentage gains: USCR +19.5%, GVA +19.4%, CX +10.7%.
- Steel stocks: X +9.4%, CLF +9.3%, NUE +5.6%, STLD +5.1%, CMC +6.2%.
- Copper names: FCX +3.1%, TECK +1.1%.
- Aluminum stocks: AA +3.1%, CENX +7.7%.
- But Compass Point analysts caution against "falling prey to the infrastructure spending mirage... we remain unconvinced given practical limitations and political undercurrents," according to Bloomberg.