US chem shares jump on Election Day as Dow rises 2.06%

Author: Al Greenwood

2020/11/03

HOUSTON (ICIS)--US-listed shares of chemical companies rose modestly on Tuesday even as the Dow Jones Industrial Average jumped by more than 2% on Election Day.

The table below shows the major indices followed by ICIS.

3-Nov Change %
Dow Jones Industrial Average 27,480.03 554.98 2.06
S&P 500 3,369.16 58.92 1.78
Dow Jones US Chemicals Index 665.91 7.44 1.13
S&P 500 Chemicals Industry Index 674.99 6.73 1.01

CNBC reported that the gains came as investors expected that the election will result in a clear, undisputed winner. In the election, President Donald Trump is running against challenger Joe Biden.

Oil markets also rose as shown in the following table.

3-Nov 2-Nov Change %
Brent 39.71 38.97 0.74 1.90%
WTI 37.66 36.81 0.85 2.31%

Prior to Tuesday's rally, US stock markets had sharp sell-offs on 26 October and 28 October as coronavirus cases and hospitalisations had started rising in the US.

US-listed chemical shares did not rally as strongly as the general stock market.

The table below shows the shares followed by ICIS.

$ Current 
Price
$ Change % Change
AdvanSix 15.65 0.05 0.32
Avient 32.85 0.70 2.18
Axalta Coating Systems 25.78 0.14 0.55
Braskem 8.00 0.11 1.39
Celanese 118.62 1.12 0.95
Dow 48.73 0.91 1.90
DuPont 59.61 0.81 1.38
Eastman 84.63 1.31 1.57
HB Fuller 48.56 1.93 4.14
Huntsman 24.93 -0.10 -0.40
Ingevity 59.20 2.01 3.51
Kraton 28.44 0.00 0.00
Kronos Worldwide 13.91 0.29 2.13
LyondellBasell 72.86 0.95 1.32
Methanex 30.11 0.60 2.03
NewMarket 362.25 -0.30 -0.08
Olin 18.37 1.07 6.19
PPG 136.86 1.68 1.24
RPM International 88.15 0.04 0.05
Sherwin-Williams 710.09 0.79 0.11
Stepan 118.71 1.00 0.85
Chemours 21.76 0.88 4.21
Trinseo 34.02 0.79 2.38
Tronox 11.27 0.59 5.52
Univar 18.17 0.60 3.41
Venator 1.99 0.02 1.02
Westlake 74.01 3.08 4.34

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