10 Stocks That Led Tuesday’s Charge

7. United States Steel Corp. (NYSE:X)

Shares of US Steel rose by 3.96 percent on Tuesday to close at $41.70 apiece as investors reacted positively to the Trump administration’s plea to extend the deadlines for two lawsuits filed against a national security panel to give the government more time to wrap up merger talks between US Steel and Nippon Steel.

The motion for reconsideration sparked confidence that President Donald Trump may already give the green light for X and Japan-based Nippon Steel for the acquisition.

In January this year, X and Nippon filed a lawsuit against the Committee on Foreign Investment in the United States, which reviews foreign investments for national security risks, after recommending the merger be axed on national security grounds.

Former president Joe Biden blocked the potential merger before stepping down, saying that the steel producers and the American steelworkers “are the backbone of our nation.”

Meanwhile, Trump said last month that he would not mind if Nippon acquires a minority stake in X.