Group 1 - U.S. Steel has announced the cessation of operations at its Granite City, Illinois plant, effective November [1]

Group 1: Federal Reserve and Market Movements - The Federal Open Market Committee (FOMC) cut the Fed funds rate by 25 basis points, now between 4%-4.25%, with projections for two more cuts in 2025 [1] - Tesla's significant gains contributed to market increases, with the Nasdaq Composite achieving a sixth consecutive record close [1] - The S&P 500 Index reached a new record high, while the Cboe Volatility Index (VIX) ended a three-day winning streak [2] Group 2: Technology Sector Developments - Oracle continues to generate headlines, influenced by TikTok, while Tesla's recent performance yielded a 424% return for options traders [3] - Intel and Nvidia's partnership in data center chips contributed to Thursday's tech gains [3] - China-based companies Alibaba and Baidu benefited from AI trends, while AMD and Micron Technology had notable chart movements [4] Group 3: Commodities and Infrastructure - Nucor reduced its third-quarter guidance due to tariff impacts, while uranium stocks surged following plans to increase the U.S. uranium stockpile [5] - Corteva received a price-target increase from Deutsche Bank, indicating positive sentiment in the chemical sector [5] Group 4: Upcoming Economic Indicators - Upcoming GDP data and earnings reports from several companies, including Accenture, AutoZone, and Costco Wholesale, are anticipated next week [7]

Market Overview - The U.S. stock market opened positively on September 19, 2025, extending gains from a record-setting Thursday, driven by strength in the technology sector and key corporate announcements [1][2] - The S&P 500 index rose to 6663 points, marking a 0.47% gain from the previous session, up 4.18% over the past month, and 16.84% higher compared to the same time last year [2] - All three major U.S. indexes reached new all-time closing highs on Thursday, indicating broad market strength beyond large-cap tech stocks [3] Corporate News and Stock Movements - Apple (AAPL) shares gained approximately 1% as the new iPhone 17 models went on sale globally, showing strong consumer demand for Pro models [7] - FedEx (FDX) initially jumped over 5% after reinstating its full-year outlook and reporting better-than-expected first-quarter profit and revenue, but later pared most gains [7] - Lennar (LEN) shares declined by 3% after quarterly revenue and profit fell short of analyst expectations, reflecting challenges in the housing sector [7] - Intel (INTC) shares surged nearly 23% on Thursday but were down 0.6% in premarket trading following Nvidia's $5 billion investment in Intel [11] - Tesla (TSLA) shares surged 22.6% over the past month, indicating strong performance [11] - Darden Restaurants (DRI) dropped 6% as earnings per share missed expectations, despite revenue meeting consensus [11] - Netskope saw its shares end 18% higher in its Nasdaq debut, while StubHub (STUB) stock fell 7% after a challenging debut [11] Economic Events and Indicators - A significant $5 trillion quarterly triple-witching options expiry is scheduled, with expectations of limited market impact [4] - Upcoming economic indicators include Global Purchasing Managers' Index (PMI) figures and the Federal Reserve's core Personal Consumption Expenditures (PCE) price index [6]

Group 1 - The "Hui Chain" industrial internet service platform developed by Wuxi Guolian Metal Materials Market Co., Ltd. aims to create a collaborative ecosystem for upstream and downstream enterprises in the steel industry, leveraging advancements in computer technology and the rise of the Internet of Things [1][2] - The platform integrates cutting-edge technologies such as blockchain, big data, and artificial intelligence to address pain points in the steel industry, providing a comprehensive service system that includes smart management, transactions, logistics, information, and financing [2] - The platform currently serves over 9,000 enterprises in the steel supply chain, including major producers like Baowu and Shagang, and aims to become a highly influential industrial internet service platform in the Yangtze River Delta and nationwide, with projected sales of 102.4 billion yuan by 2028 [2] Group 2 - The AI application research and development center at the company has developed a smart review cloud platform that utilizes a large database accumulated over 10 years, employing technologies such as image recognition, facial recognition, and machine learning to ensure content safety and promote a healthy online environment [3] - The platform processes millions of graphic data and nearly 30,000 hours of video annually, implementing a dual purification mechanism to effectively filter out harmful content such as spam and illegal information [3]

Market Overview - U.S. stock index futures are showing mixed performance as investors react to a recent Federal Reserve interest rate cut and anticipate upcoming economic data [1][2] - Major indexes closed at record highs on Thursday, with the Dow Jones Industrial Average up 0.27%, S&P 500 rising 0.48%, and Nasdaq Composite increasing by 0.94% [3] Economic Indicators - The 10-year Treasury yield rose by 2 basis points to 4.13%, while the 2-year yield increased by 1 basis point to 3.58% [2] - Strong labor market data indicated a drop in U.S. Weekly Initial Jobless Claims to 231K for the week ending September 13, below expectations, which reassured investors about economic stability [3] Upcoming Economic Data - Key economic data releases include Flash Purchasing Managers' Index (PMI) surveys and the U.S. core Personal Consumption Expenditures (PCE) price index, scheduled for September 26, 2025 [5] - Other significant upcoming data includes revised GDP numbers, consumer confidence data, home sales figures, durable goods orders, and inventories [5] Corporate Earnings - Several companies are set to report earnings, including MoneyHero Limited, IperionX Limited ADR, and FedEx, which reported better-than-expected FQ1 earnings and projected 4%-6% revenue growth for fiscal year 2026 [6][11] - 22nd Century Group's shares surged 31% after announcing it is now debt-free, while 89bio's shares skyrocketed 85% following Roche's agreement to acquire the biotech firm for $14.50 per share [11] Key Corporate News - Nvidia shares advanced 3.5% after announcing a $5 billion investment in Intel, which saw its stock surge over 23% [7] - CoreWeave's shares rose 0.3% after Loop Capital initiated coverage with a "Buy" rating, highlighting its growing prominence among chip giants and AI labs [11] - FedEx's strong results positively impacted UPS, which saw its stock increase by 2% [11] Stock Movements - Red Cat Holdings' shares fell 12% after pricing an offering of 15.6 million shares at $9.60 each [11] - Nucor's shares slipped 4% after guiding its Q3 EPS to $2.05-$2.15, below the consensus estimate of $2.56 [11]

Core Viewpoint - Jindal Steel International is pursuing the acquisition of Thyssenkrupp Steel Europe, a significant move for the company and its emerging leader, Venkatesh Jindal, who is currently negotiating the deal in Germany [1][8]. Group 1: Acquisition Details - The negotiating team includes Venkatesh Jindal, Naveen Jindal, and other executives, and they are working to gain approval from the German government and labor unions, which play a crucial role in such transactions in Europe [2][3]. - Jindal Steel has not yet made a formal financial offer for Thyssenkrupp Steel Europe as they are still assessing the asset's value [3]. - Thyssenkrupp has been attempting to divest from its steel business for several years and recently sold a 20% stake to EP Corporate Group, which is controlled by billionaire Daniel Kretinsky [4][5]. Group 2: Strategic Importance - The acquisition would enhance Jindal Steel's operations, as they currently source iron ore from Africa and convert it into steel in Oman, with plans to ship iron ore to Germany for use in Thyssenkrupp's new DRI furnace [5][6]. - This move would provide Jindal Steel a foothold in the European steel market, which is known for its protective measures against imports [6]. Group 3: Leadership and Future Prospects - Venkatesh Jindal, at 29, is being groomed for leadership within the company, overseeing global assets and developing a hydrogen-ready steel plant in Oman [8][10]. - His successful acquisition of Thyssenkrupp could position him favorably for the vacant managing director role at Jindal Steel [14]. - The company has made several acquisitions during Venkatesh's tenure, including a coal mine in Mozambique valued at $270 million and a steel complex in Oman for $1 billion, but none have matched the scale of Thyssenkrupp [11][12].

Core Viewpoint - Cleveland-Cliffs Inc. is highlighted as a strong growth stock under $30, with a recent price target increase by BofA from $9.50 to $12.50, maintaining a Neutral rating ahead of its Q3 2025 earnings report [1]. Financial Performance - In Q2 2025, Cleveland-Cliffs reported a $271 million improvement in adjusted EBITDA compared to the previous quarter [2]. - The company achieved shipment volumes of 4.3 million tons, reflecting a sequential increase of 150,000 tons [2]. - Operational efficiencies resulted in a $15 per ton decrease in unit costs, contrary to expectations of an increase, while the average selling price rose by $35 per ton to $1,015 per ton [2]. Liquidity and Cost Management - At the end of the quarter, Cleveland-Cliffs had liquidity of $2.7 billion [3]. - The company is on track to meet its full-year target of reducing steel unit costs by $50 per ton and has lowered its full-year 2025 expectations for combined SG&A and capital expenditures by $50 million [3]. Market Context - Cleveland-Cliffs benefits from Section 232 steel tariffs, which are seen as supportive of the domestic steel industry [3]. - The company operates as a flat-rolled steel producer in the US, Canada, and internationally, previously known as Cliffs Natural Resources Inc. [4].

Group 1 - Gerdau S.A. is scheduled to release its Q3 2025 earnings on October 30, 2025, with Wall Street projecting adjusted earnings per share of $0.57 and revenue of approximately $3.37 billion [1] - In Q2 2025, Gerdau reported revenue of $3.13 billion, missing estimates by $60.68 million, and adjusted earnings of $0.08 per share, below the expected $0.10 [2] - The Brazilian market faced challenges due to excessive steel imports, with an import penetration rate of 23.4%, impacting Gerdau's domestic operations [2] - Despite challenges in Brazil, Gerdau's North American operations achieved the highest all-time share in results, contributing 61% to EBITDA [3] - Gerdau's Q2 net income was approximately $161.22 million, reflecting a 14% increase from Q1 2025 [3] - The company is concerned about a reduction in production pace in Brazilian operations due to ongoing capital expenditure (CapEx) projects [3] - Gerdau anticipates a reduction in global CapEx disbursement starting in 2026, which may affect future investments in Brazil [3] Group 2 - The majority of analysts rate Gerdau S.A. as a Buy, with an average price target of $4, indicating an upside potential of nearly 27.33% from current levels [4] - Gerdau operates as a steel producer with segments in Brazil, North America, South America, and Special Steel [5]

Slumping Chinese steel production should be good for the climate, writes @davidfickling, but the country's dirtier mills are staying open (via @opinion) https://t.co/Fe65clVL3M ...

Core Viewpoint - Algoma Steel Group Inc. has amended its credit agreement to increase its asset-based revolving credit facility from US$300 million to US$375 million, enhancing its financial flexibility amid challenging market conditions [1][2][3] Financial Position - The additional US$75 million in commitments is provided by Export Development Canada (EDC), which joins the existing lending syndicate as a direct lender [2] - This transaction is part of a broader set of liquidity initiatives aimed at strengthening the company's financial position [2] Strategic Initiatives - The upsizing of the ABL Facility is expected to support Algoma's operations and strategic priorities, particularly its transformation to Electric Arc Furnace steelmaking [3] - The facility remains secured by a first-priority lien on accounts receivable, inventory, and related assets [3] Company Overview - Algoma is a fully integrated producer of hot and cold rolled steel products, serving various sectors including automotive, construction, energy, defense, and manufacturing [4] - The company is the only producer of discrete plate products in Canada and operates one of the lowest-cost producers of hot rolled sheet steel in North America [4] Environmental Commitment - Algoma is modernizing its plate mill and adopting electric arc technology to significantly lower carbon emissions, positioning itself as a leading producer of green steel in North America [5] - The company emphasizes its commitment to recycling and environmental stewardship as part of its transformation journey [5]