Commodity Shares Rally on Yuan Reform

Commodity shares gained in today’s trading session after China announced plans to make yuan more flexible and end its two-year informal peg to the dollar, signaling confidence in the global economy.

The Dow was up about 100 points at the start, led by multinational corporations including:

  • Alcoa Inc. (AA), leader in the Dow, is testing the upper end of its multi/week range at $12.00, Up $1.00 (9.00%) 11:34AM EDT
  • Caterpillar Inc. (CAT) : $67.36 Up $1.51 (2.29%) 11:41AM EDT
  • Century Aluminum Co. (CENX) : $11.10 Up $1.06 (10.56%) 11:24AM EDT
  • Rio Tinto plc (RTP) : $51.61 Up $2.14 (4.33%) 11:24 AM EDT
  • Cliffs Natural Resources Inc. (CLF) : $60.06 Up $3.84 (6.83%) 11:23AM EDT
  • Chevron Corp. (CVX) : $76.46 Up $0.94 (1.24%) 11:43AM EDT
  • Steel Dynamics Inc. (STLD) : $14.50 Up $0.53 (3.79%) 11:44AM EDT
  • Freeport- McMoRan Copper & Gold Inc. (FCX) $69.85 Up $3.95 (5.99%) 11:24AM EDT
  • U.S. Steel Corp. (X) $46.14 Up $2.73 (6.29%) 11:24AM EDT
  • AK Steel Holding Corp. (AKS) $14.72 Up $0.82 (5.90%) 11:24AM EDT
  • Titanium Metals Corp. (TIE) $20.93 Up $0.93 (4.65%) 11:24AM EDT

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