How a Weekend Steel Deal Could Fuel a 2024 Bull Market
The stock market has done exceptionally well in the last two months of the year. The Dow Jones Industrial Average has set new record highs, and other major market benchmarks are within a hand's breadth of reaching new all-time levels of their own.
For much of 2023, a handful of stocks powered indexes higher. However, it's evident that companies are starting to realize that the stocks that have gotten left out of the rally so far have intrinsic value of their own. The fact that those stocks have languished makes them attractive as takeover targets. That's what shareholders in U.S. Steel (NYSE: X) are seeing Monday morning, and the move could signal a wave of merger and acquisition activity across the industrial and materials sectors that could produce the next leg higher for the bull market.
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Source Fool.com
