CAT
) rose roughly 3.6 percent while John Deere (NYSE:
DE) rallied about 1.99 percent
Other equities affected by the announcement were companies with copper exposure. Following expectations that the new Chinese projects would require a large supply of the metal, firms like Freeport-McMoRan Copper & Gold (NYSE:
FCX) were up roughly 7.51 percent, while Southern Copper (NYSE:
SCCO) rose about 4.97 percent. With the expectation that copper demand will jump in the near future, copper as a commodity might not be a bad play.
Shares of the Chinese ETF (NYSE:
FXI) traded up 2.61 percent Friday around $33.58.
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