Could These 3 Stocks Lead Wall Street Out of Its Bear Market?
Investors are dealing with a lot right now, and the stock market's big decline over the past week has shown just how sensitive Wall Street is to the changing macroeconomic environment. The Federal Reserve's need to boost short-term interest rates by three-quarters of a percentage point didn't provide any confidence to the investing community. After the drop that sent the S&P 500 (SNPINDEX: ^GSPC) into bear market territory, though, stock investors seem to be ready for at least a brief reprieve. As of 8:30 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) had risen 177 points to 30,105. S&P 500 futures had gained 28 points to 3,697, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had picked up 119 points to 11,244.
Market participants have largely watched the tech arena for signs of a recovery, given that the stocks there have seen such dramatic declines. However, there are some interesting things going on in the steel industry that many investors haven't noticed. Good news there could signal the kind of economic activity that could lead an economy out of recession and help spur a broader stock market bounce. Below, you'll learn more about what United States Steel (NYSE: X) and its peers have said in recent days and how it could bring about an end to the bear market.
U.S. Steel provided guidance for the second quarter of 2022 late Thursday. It was generally favorable, and the stock jumped nearly 7% in premarket trading on Friday as a result.
Source Fool.com
