USCR - Caterpillar tops Dow losers steel names slide as infrastructure bill less likely

Steel stocks tied to the building of U.S. infrastructure trade broadly lower on the increasing likelihood that a Republican Senate and a Biden presidential victory will mean a lighter stimulus package.Shares of Commercial Metals ([[CMC]] -4.4%), which says 80% of its sales are to the construction industry, sink to their lowest in four months, and U.S. Steel ([[X]] -7.2%), Nucor ([[NUE]] -3.4%) and Cleveland-Cliffs ([[CLF]] -5.2%) also are in the red.Caterpillar ([[CAT]] -4.6%) is today's biggest loser on the Dow Jones average with an infrastructure bill now up in the air; also, [[VMC]] -5.6%, [[MLM]] -3.9%, [[SUM]] -5.1%, [[USCR]] -4.7%, [[J]] -3%.Investors in the sector had hoped for a "blue wave" election, with Biden's platform calling for a $2T infrastructure package over four years.CAT has climbed nearly 80% off March lows, but its valuation is "spiking during a time when forecasts show the company's earnings drop like a stone, at

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Caterpillar tops Dow losers, steel names slide as infrastructure bill less likely