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Industrial metals: Strong plays on Obama's rebuilding plans |
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| Jan 20, 2009 05:30 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Newsletters, Alcoa Inc (AA), U.S. Steel (X), Commodities, Stocks to Buy, Obama Picks "President Obama's proposed rebuilding plans are great news for steel and other industrial metals makers," says resource sector specialist Larry Edelson, who recommends a pair of beneficiaries: U.S. Steel Corp. (NYSE: X) and Alcoa (NYSE: AA). The editor of Real Wealth newsletter explains, "Obama has pledged to give the U.S. economy a massive shot in the arm with the biggest public works spending package this nation has seen in more than 50 years. "Besides spending on road, bridge, school improvements and construction, the plan is likely to include upgrading our deteriorating electrical grid and greater investments in public transportation, among other infrastructure projects. The plan is also expected to create about 2.5 million jobs. "While steel and other base metal prices have tanked sharply this year on slumping global demand, companies that produce the metals have staged some massive cutbacks in production and many have shuttered large chunks of their operations. Continue reading Industrial metals: Strong plays on Obama's rebuilding plans Industrial metals: Strong plays on Obama's rebuilding plans originally appeared on BloggingStocks on Tue, 20 Jan 2009 12:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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