Today’s Research Reports on Trending Tickers: United States Steel and AK Steel Holding
U.S. equities rebounded on Wednesday, lifted by strong performance from the energy sector and worries over Italy’s political crisis eased. The Dow Jones Industrial Average increased 1.26 percent to close at 24,667.78, while the S&P 500 Index climbed 1.27 percent to close at 2,724.01. The Nasdaq Composite Index was up 0.89 percent to close at 7,462.45.
“The fact that the market is shrugging off Italy’s political drama suggests that maybe it was a crowded trade that was being unwound and not something more serious,” said Michael Antonelli, equity sales trader at Robert W. Baird & Co.
“Anything coming from the left field can shatter markets nowadays, so we have to brace for a long summer grind,” Antonelli added.
RDI Initiates Coverage on:
United States Steel Corporation
AK Steel Holding Corporation
United States Steel’s stock moved 2.92% higher Wednesday, to close the day at $36.25. The stock recorded a trading volume of 7,097,916 shares, which was below its three months average volume of 12,459,514 shares. In the last year, United States Steel’s shares have traded in a range of 19.75 – 47.64. The share price has gained 83.54% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $35.54 is below its 200-day moving average of $36.17. Shares of the company are trading at a Price to Earnings ratio of 11.02. Shares of United States Steel have gained roughly 7.15 percent in the past month and are up 3.01 percent year-to-date.
Access RDI’s United States Steel Corporation Research Report at:
On Wednesday, shares of AK Steel Holding recorded a trading volume of 24,117,716 shares, which was above the three months average volume of 15,713,848 shares. The stock ended the day 3.62% higher at $4.58. The share price has fallen 34.94% from its 52 week high with a 52 week trading range of 4.00 – 7.04. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $4.56 is below its 200-day moving average of $5.10. Shares of the company are trading at a Price to Earnings ratio of 229.00. Shares of AK Steel Holding have fallen roughly 0.22 percent in the past month and are down 19.08 percent year-to-date.
Access RDI’s AK Steel Holding Corporation Research Report at:
Our Actionable Research on United States Steel Corporation (NYSE:X) and AK Steel Holding Corporation (NYSE:AKS) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.