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We recently published an article titled These 10 Firms Led This Week's Rally. In this article, we are going to take a look at where United States Steel Corp. (NYSE:X) stands against the other stocks.
Ten companies finished stronger this week, outpacing the broader market thanks to a series of catalysts that lifted investor sentiment.
On Friday, the Dow Jones recorded its largest weekly drop, falling 1.07%, while the S&P 500 and Nasdaq declined by 0.71% and 0.62%, respectively.
Despite a lackluster performance from Wall Street’s major indices, 10 companies demonstrated notable resilience. In this article, we will look at their past week's performance and the reasons that fueled their rally.
To come up with this week's top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
An aerial view of an industrial plant manufacturing welded pipes and tubes from stainless steel and galvanized carbon.
United States Steel Corp. (NYSE:X)
Shares of United States Steel Corp. (NYSE:X) finished last week's trading on a strong note, clocking in a 12.82-percent gain to end at $34.24 versus a $30.35 finish the week prior.
Despite President Joe Biden's blocking of Nippon Steel's plan to acquire US Steel for $14.9 billion earlier this month, investor sentiment was later fueled by hopes that the deal could still push through after the current administration told the Japan-based firm to delay an order to abandon the plan until June.
"We are pleased that CFIUS (Committee on Foreign Investment in the United States) has granted an extension to June 18, 2025, of the requirement in President Biden's Executive Order that the parties permanently abandon the transaction," both firms said in a statement.
"We look forward to completing the transaction, which secures the best future for the American steel industry and all our stakeholders," they added.
Both companies, however, will now confront the challenge of a new administration, particularly as incoming President Donald Trump has already signaled his opposition to Nippon's acquisition of United States Steel Corp. (NYSE:X).
Overall X ranks 10th on our list of the firms that led this week's rally. While we acknowledge the potential of X as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than X but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.