TX

U.S. steel companies are ramping up investments in new mills and side businesses, brushing aside signs of weakness in the broader economy as executives cited strengthening demand from customers in the auto and construction sectors. Major steel companies this week turned in quarterly results that were mostly better than expected, after steel prices rose sharply in spring because of the war in Ukraine. While prices have retreated in recent weeks, steel executives said demand isn’t deteriorating.

(Bloomberg) -- Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis-point hike next week, economists surveyed by Bloomberg said.Most Read from BloombergTrump Insiders Recall How He Spurned Pleas to Act as Riot RagedThree Arrows Founders Break Silence Over Collapse of Crypto Hedge FundAmericans Who Can’t Afford Homes Are Moving to Europe InsteadMusk Lieutenant Scrutinized in Internal Tesla Purchasing P