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3 Steel Stocks Boosted by Trump

Reports that President Trump is looking at imposing tariffs on imported steel have boosted these steel stocks

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Steel Stocks Boosted by Trump: AK Steel Holding Corporation (AKS)

Steel Stocks Boosted by Trump: AK Steel Holding Corporation (AKS)

Shares of AK Steel Holding Corporation (NYSE:AKS) attempted to break up and out of their two-month uptrend channel on Friday, threatening to cross back above the 200-day moving average that was last tested in April. AKS shares fell more than 50% from their early January high as the “Trump-flation” rally faded amid a walking back of nationalistic trade threats and a slowdown in auto production. But with Trump apparently frustrated with China’s inability to control North Korea, he is looking at imposing a 20% tariff.

The company will next report results on July 25 before the bell. Analysts are looking for earnings of 14 cents per share on revenues of $1.56 billion. When the company last reported results on April 25, it reported earnings of 19 cents per share, which was 5 cents better than expected. Revenue increased 1% from the prior year period.

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