{"id":335828,"date":"2023-08-14T17:30:01","date_gmt":"2023-08-14T21:30:01","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=335828"},"modified":"2023-08-14T23:20:41","modified_gmt":"2023-08-15T03:20:41","slug":"steel-sparks-despite-markets","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/steel-sparks-despite-markets\/","title":{"rendered":"Steel sparks despite markets"},"content":{"rendered":"

Monday markets lacked any true direction, except in steel. A bidding war erupted for U.S. Steel whose shares skyrocketed 36.8% as it rejected a big from Cleveland-Cliffs<\/a> which itself jumped 8.78%. The spillover effect pushed Algoma Steel<\/a> in Canada up 11.08%. Though the Dow was flat, the S&P climbed 0.58% and the Nasdaq 1.05%.<\/p>\n

Beyond steel, other key movers on Wall Street included chipmakers Nvidia<\/a> which popped 7.09%, and Micron<\/a> up 6.07%, and Keyera<\/a> down 4.67%. Meanwhile, the U.S. 10-year yield inched up to 4.2% while Bitcoin<\/a> added 0.29% to $29,300.<\/p>\n

The TSX began the week with a loss, down 0.57% to sink below 20,300 as all sectors except healthcare fell into the red. Materials, real estate and staples were the biggest laggards. Sleep Country Canada<\/a> closed -4.59% and Northwest Healthcare REIT<\/a> -6.94%, but Cargojet<\/a> soared 7.24% despite reporting a mixed quarter. After slumping recently, utilities bounced back after Boralex<\/a> reported a slam-dunk quarter which propelled its shares by 6.15%. WTI crude declined 0.7% to $82.60.<\/p>\n

⛓ Cleveland-Cliffs Inc. (CLF-N)<\/a> +8.78%
\n⛓ Algoma Steel Group Inc (ASTL-T)<\/a> +11.08%
\n💾 NVIDIA Corporation (NVDA-Q)<\/a> +7.09%
\n💾 Micron Technology (MU-Q)<\/a> +6.07%
\n🛢 Keyera Corp (KEY-T)<\/a> -4.67%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> +0.29%
\n🛏 Sleep Country Canada (ZZZ-T)<\/a> -4.59%
\n🏛 NorthWest Health Prop Real Est Inv Trust (NWH.UN-T)<\/a> -6.94%
\n🛫 Cargojet Inc (CJT-T)<\/a> +7.24%
\n💡 Boralex Inc. (BLX-T)<\/a> +6.15%<\/p>\n","protected":false},"excerpt":{"rendered":"

Monday markets lacked any true direction, except in steel. A bidding war erupted for U.S. Steel whose shares skyrocketed 36.8% as it rejected a big from Cleveland-Cliffs which itself jumped 8.78%. The spillover effect pushed Algoma Steel in Canada up […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-335828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/335828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=335828"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/335828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=335828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=335828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=335828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}