Stock Market Today, Feb. 11: Steelmaker Gerdau Jumps After Trading Volume Surges on U.S. Jobs Report
Gerdau (NYSE:GGB), a Brazilian multinational steel producer, closed Wednesday at $4.35, up 2.59%. The stock moved as investors reacted to a mixed U.S. jobs report that shaped expectations for Federal Reserve rate cuts, and they are watching how shifting growth and rate views feed through to global steel demand and pricing.
Trading volume reached 63 million shares, coming in about 286% above its three-month average of 16.3 million shares. Gerdau IPO'd in 1999 and has grown 1,370% since going public.
How the markets moved today
The broader U.S. markets finished little changed Wednesday, with the S&P 500 (SNPINDEX:^GSPC) unchanged at 6,941.5 and the Nasdaq Composite (NASDAQINDEX:^IXIC) easing 0.16% to 23,066. Within the steel industry, peers Nucor (NYSE:NUE) closed at $194.42, up 1.27%, and Steel Dynamics (NASDAQ:STLD) ended at $205.78, gaining 2.32%, as cyclicals tracked macro headlines.
What this means for investors
All eyes were on the January jobs report this morning and how that might influence upcoming Federal Reserve rate-cut decisions. Stocks in cyclical sectors like steel pushed higher on the strong report.
Better-than-expected job growth and a continuing trend of low unemployment have investors thinking a boom in construction and other steel-intensive categories could be at hand. The U.S. added 130,000 jobs in January and unemployment fell to 4.3%.
A strong economy could trend steel prices higher, giving steelmakers a strong tailwind for 2026 and possibly beyond. Gerdau’s stock is trading near a 52-week high, up 45% over the past six months.
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Howard Smith has positions in Nucor and has the following options: short April 2026 $185 calls on Nucor and short March 2026 $200 calls on Nucor. The Motley Fool recommends Steel Dynamics. The Motley Fool has a disclosure policy.
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