Aluminum stocks rallied on Thursday as commodities shot up across the board. April’s durable goods data suggested that the U.S. industrial recovery has continued despite recent international economic worries, and Bloomberg reports that China’s pledge to invest in Europe is helping calm investors and lift the markets in today’s session.
As a whole, Aluminum Stocks Index is up 4.7% and is 2.5% ahead of the S&P 500. All of the index’s components are in positive territory over the last week with Aluminum Corp of China (ACH), Alumina (AWC), and Reliance Steel and Aluminum (RS) adding double-digit rallies for the period.
Dow component Alcoa (AA) is ahead by 3.5% in today’s rally. Analyst Macquarie upgraded the company to Outperform from Neutral yesterday.
Prices for other raw materials have increased as well, including copper, nickel, and oil. In addition, the dollar broke a three-day rally against the Euro, making the commodities more attractive investments.
Investors can track the Aluminum Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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