Materials Stocks Surging (CLF, CENX, FCX)

Materials stocks are surging this morning after a better-than-expected reading on industrial production for July. The Federal Reserve said industrial production rose 1.0 percent in July on strong factory output from auto manufacturing. The results were better than the 0.7 percent expected. Capacity Utilization was reported at 74.8 percent, better than the expected increase of 74.6 percent. Cliffs Natural Resources CLF is higher by $3.78, or 6.25%, to $64.25. Century Aluminum CENX is up 40 cents, or 3.96%, to $10.49. Freeport-McMoRan Copper & Gold FCX is higher by $2.80, or 3.96%, to $73.43.