Shares of materials companies rose alongside a recovery for precious metals and a climb in energy prices and fighting in the Mideast continued and President Trump placed new tariffs on certain Canadian exports.
Kalshi is asking regulators for permission to let users speculate on the price of gold, silver and platinum with a new kind of derivative contract that never expires. The prediction-markets provider has filed with the Commodity Futures Trading Commission to start offering perpetual futures contracts linked to the spot price of precious metals.
West Fraser Timber Co., North America's top lumber producer, is taking a hit from President Trump's latest round of tariffs on Canada. Its stock is one of the day's worst performers among forest and building-products shares.
Steel Dynamics logged higher profit and revenue in its latest quarter, with the company pointing to improved pricing and continued solid demand in its steel business. The steel producer posted a second-quarter profit of $534.1 million, or $3.69 a share, compared with $298.7 million, or $2.01 a share, a year earlier.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
