Shares of steel makers rallied in premarket trade Thursday, as investors prepped for a possible announcement by President Trump on tariffs. The Wall Street Journal reported that Trump summoned steel and aluminum executives on short notice to the White House for a meeting Thursday, telling them an announcement could be made on curbs on steel and aluminum imports. Shares of U.S. Steel Corp. rallied 4.5% ahead of the open, AK Steel Holding Corp. climbed 8.0%, Steel Dynamics Inc. rallied 3.7%, Nucor Corp. ran up 3.1% and Alcoa Corp. advanced 3.3%. The rallies come as the S&P 500 futures tick up just 0.1%.
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