US steel and mineral companies saw stock market prices jump after the election of Donald Trump. Trump, who will take office early next year, will be the 45th President of the United States.
US Steel, Nucor, Cliffs Natural Resources, Peabody Energy and others have all seen their stock prices move up due to upticks in investors’ confidence. This is largely tied to potential deregulation and thus, potential growth within both the steel and mining industries under the Trump administration.
Trump's protectionist trade agenda and promises to roll back environmental regulations are likely drivers for the stock surges. If confidence continues, US Steel, Nucor, Cliffs Natural Resources, Peabody Energy and others could set a yearly high in trading.
In the upcoming weeks, Trump is expected to name his Cabinet appointees; he is also expected to re-outline his plans for his first 100 days in office. These announcements will prove important in forming investor expectations.