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Founded in 1940 and based in Charlotte, North Carolina, Nucor Corp. is a manufacturer of steel and steel products and is North America's largest steel recycler. The company's main operating units are Steel Mills and Steel Products. Nucor has about 32,700 employees. The shares are a component of the S&P 500.

The Supreme Court has struck down a large portion of the tariffs that are a key element of President Trump's economic agenda. By a six-to-three majority, the court ruled that the law cited by the administration to levy trade duties 'does not authorize the president to impose tariffs.' Many, though not all, tariffs during the second Trump administration have been imposed under the International Emergency Economic Powers Act (IEEPA). The IEEPA, which makes no mention of tariffs, gives the president the power to regulate imports of foreign property but only after declaration of a national emergency to deal with tangible threats. The administration's use of IEEPA was considered unconventional. The court's ruling relates to reciprocal tariffs as well as those imposed to impede illegal drug flows. The stock market so far has had a guardedly optimistic response to the ruling. Meanwhile, fourth-quarter GDP data, also released today, highlighted the impacts of the government shutdown; but some economists also noted the potential impact of tariffs on government and business spending. The administration may look to work around the ruling by enlisting help from Congress. In the intermediate term, the uncertain future of tariff policy may overhang the market.

LyondellBasell is a petrochemical producer with operations in the United States, Europe, and Asia. The company is the world’s largest producer of polypropylene and also a major producer of polyethylene and propylene oxide. Its chemicals are used in various consumer and industrial end products. Well over half of LyondellBasell’s production comes from its North American operations.

Rio Tinto is a global diversified miner. Iron ore is its major commodity, with lesser contributions from copper and aluminum. Lithium, diamonds, gold, and industrial minerals are more minor contributors. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.