STLD - Freeport tops S&P as stimulus hopes spark move in materials

Freeport McMoRan ([[FCX]] +8.1%) marches to the top of the S&P 500 leaderboard, as the materials sector ([[XLB]] +2.7%) stands out as today's best-performing sector amid hopes for some form of fiscal stimulus that supports economic recovery efforts.Freeport is a favored cyclical play on days when the market embraces the positive economic recovery theme.Martin Marietta Materials ([[MLM]] +5.1%) also continues to rally after recently clearing resistance at its 200-day moving average; shares are up 29% since end of August.WestRock ([[WRK]] +4.2%) says it will reduce its solid bleached sulphate mill system production capacity by 200K tons by shutting down a paper machine at its Evadale, Tex., mill.Steel names score impressive gains: [[X]] +7.1%, [[NUE]] +3.7%, [[STLD]] +3.7%, [[CMC]] +5.3%.KeyBanc analysts are out in praise of chemical stocks, upgrading Celanese ([[CE]] +4.9%) and seeing Huntsman ([[HUN]] +3.6%), DuPont ([[DD]] +2.8%) and Eastman Chemical ([[EMN]] +4.5%) as most attractive.Also: [[LYB]] +4.1%, [[MOS]]

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Freeport tops S&P as stimulus hopes spark move in materials