Building & Construction ETF Surges To New Highs As Trump Reiterates Mexico Wall Plans

The PowerShares Dynamic Bldg. & Const. ETF (NYSE:PKB) was jumping higher in morning trading today, as President Trump reiterated his plans to build a massive wall between the U.S. in Mexico.

The comments sparked investor speculation that the wall would lead to a big uptick in demand for cement, concrete, crushed stone, and other construction materials. From Bloomberg:

Vulcan Materials Co., the biggest U.S. sand and gravel supplier by market value, advanced 2 percent to $134.98 at 9:36 a.m. in New York. Cement makers Martin Marietta Materials Inc. and Eagle Materials Inc. also rose, extending gains that began after Trump’s election. Germany’s HeidelbergCement AG, which has said it would benefit from a border wall, surged the most in two months.

Trump tweeted on Tuesday that “Among many other things, we will build the wall!” in repetition of his famous campaign promise to take drastic measures to curb illegal immigration. The wall could be considered a part of Trump’s wider infrastructure spending plan, which also stands to benefit construction companies.

On the ETF side of things, the PowerShares Dynamic Bldg. & Const. ETF (NYSE:PKB) was trading at $29.35 per share on Wednesday morning, up $0.38 (+1.31%). Year-to-date, PKB has gained 5.31%, versus a 2.31% rise in the benchmark S&P 500 index during the same period.

PKB currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #14 of 32 ETFs in the Industrials Equities ETFs category.

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