1 hr. ago
Steel and aluminum stocks surged and then retreated last week as the escalating trade war between the United States and Canada sent investors scrambling to reprice exposure to North American metals supply chains.
SLX gained 1.6% on Monday, Aug. 25, following the breakdown of U.S.-Canada trade talks, and the State Street Materials Select Sector SPDR (XLB) reached a new intraday record that session, topping the peak it had set in February. Shares of Nucor, Steel Dynamics, Cleveland-Cliffs, and Century Aluminum all climbed. The gains proved short-lived, however: by Friday's close, XLB had slipped into the red for the week and SLX was essentially unchanged, according to CNBC. Through Aug. 28, Morningstar data show SLX has gained more than 28% on the year and XLB more than 18%.
The swing reflects the complexity of a trade war between two countries whose metals industries are deeply intertwined. Dan Luttner, who serves as managing partner of the supply chain consulting firm NEOS by Argon & Company, characterized the initial stock move to CNBC as a repricing reflex rather than a durable signal. "The stock pop is a headline reflex, honestly — mills reprice to replacement cost the second a 50% wall goes up, so of course Nucor and Cleveland-Cliffs jumped," Luttner said. "But that's not the interesting question. The interesting question is who controls their feedstock inside the wall versus who's still exposed to it?"
Luttner noted that both Nucor and Cleveland-Cliffs use electric arc furnace technology whose inputs have no dependence on Canadian ore or slab, positioning them to capture tariff-driven pricing benefits without the same exposure. Cleveland-Cliffs stock is nonetheless in negative territory for 2026 because of balance sheet stress. Century Aluminum is a more complicated case: because domestic primary aluminum production is thin, the raw inputs that sustain it — alumina and semi-finished material — largely still flow across the Canadian border, undermining the protection the tariffs were meant to provide.
Atsi Sheth, chief credit officer at Moody's Ratings, said uncertainty will persist. "Expect much more of this uncertainty for some time to come," Sheth said. She added that U.S. steel companies hold a modest edge over their Canadian counterparts because the U.S. market is larger, but said the auto sector has no clear winner given how deeply integrated cross-border production is.
#cliffs #nucor
SLX gained 1.6% on Monday, Aug. 25, following the breakdown of U.S.-Canada trade talks, and the State Street Materials Select Sector SPDR (XLB) reached a new intraday record that session, topping the peak it had set in February. Shares of Nucor, Steel Dynamics, Cleveland-Cliffs, and Century Aluminum all climbed. The gains proved short-lived, however: by Friday's close, XLB had slipped into the red for the week and SLX was essentially unchanged, according to CNBC. Through Aug. 28, Morningstar data show SLX has gained more than 28% on the year and XLB more than 18%.
The swing reflects the complexity of a trade war between two countries whose metals industries are deeply intertwined. Dan Luttner, who serves as managing partner of the supply chain consulting firm NEOS by Argon & Company, characterized the initial stock move to CNBC as a repricing reflex rather than a durable signal. "The stock pop is a headline reflex, honestly — mills reprice to replacement cost the second a 50% wall goes up, so of course Nucor and Cleveland-Cliffs jumped," Luttner said. "But that's not the interesting question. The interesting question is who controls their feedstock inside the wall versus who's still exposed to it?"
Luttner noted that both Nucor and Cleveland-Cliffs use electric arc furnace technology whose inputs have no dependence on Canadian ore or slab, positioning them to capture tariff-driven pricing benefits without the same exposure. Cleveland-Cliffs stock is nonetheless in negative territory for 2026 because of balance sheet stress. Century Aluminum is a more complicated case: because domestic primary aluminum production is thin, the raw inputs that sustain it — alumina and semi-finished material — largely still flow across the Canadian border, undermining the protection the tariffs were meant to provide.
Atsi Sheth, chief credit officer at Moody's Ratings, said uncertainty will persist. "Expect much more of this uncertainty for some time to come," Sheth said. She added that U.S. steel companies hold a modest edge over their Canadian counterparts because the U.S. market is larger, but said the auto sector has no clear winner given how deeply integrated cross-border production is.
#cliffs #nucor
7 days ago
Our **** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Stellantis just got another North America headache.
Trump's Canada tariff threat dragged down Ford and GM too, but Stellantis looks especially exposed because its Canadian factory footprint is already complicated, underused and politically sensitive.
President Donald Trump threatened to raise tariffs on Canadian cars, trucks, auto parts and steel to 50% from January 1, 2027, after US-Canada trade talks collapsed.
The market did not wait for the fine print. Stellantis shares fell roughly 3% in Paris and U.S.-linked trading, while Ford and General Motors also dropped as investors priced in higher costs for North American supply chains. US steelmakers moved the other way, with Cleveland-Cliffs, Nucor and Steel Dynamics rallying on the prospect that tariffs on Canadian steel could support domestic pricing.
#tell
Stellantis just got another North America headache.
Trump's Canada tariff threat dragged down Ford and GM too, but Stellantis looks especially exposed because its Canadian factory footprint is already complicated, underused and politically sensitive.
President Donald Trump threatened to raise tariffs on Canadian cars, trucks, auto parts and steel to 50% from January 1, 2027, after US-Canada trade talks collapsed.
The market did not wait for the fine print. Stellantis shares fell roughly 3% in Paris and U.S.-linked trading, while Ford and General Motors also dropped as investors priced in higher costs for North American supply chains. US steelmakers moved the other way, with Cleveland-Cliffs, Nucor and Steel Dynamics rallying on the prospect that tariffs on Canadian steel could support domestic pricing.
#tell
9 days ago
Nucor, Steel Dynamics, Cleveland-Cliffs and Century Aluminum are likely winners from U.S.-Canada trade talks breaking down. All four stocks were higher early Monday after tumbling last week on the prospect of a Canada trade deal that would lower U.S. tariffs on steel and aluminum.
New 50% tariffs on $20 billion worth of Canadian goods, including liquor, electrical equipment and hockey gear, took effect on Saturday. Prime Minister Mark Carney vowed to retaliate "dollar for dollar," with its retaliatory tariffs starting Sept. 8 U.S. officials have threatened further escalation if that happens.
Earlier in the week, a trade deal seemed likely, with President Donald Trump late Tuesday postponing the new Canada tariffs, hours before they were set to kick in.
The U.S. and Canada seemed poised to reach a deal that would cut existing 50% tariffs on Canadian steel and aluminum to 25%, though steel imports would face limits. The U.S. also reportedly would cut duties on Canadian autos to 15% and scrap a 10% lumber tariffs.
The prospective of lower tariffs slammed U.S. steel stocks. Nucor (NUE) fell 5.85% on Wednesday and 9.4% for the week, tumbling from near a buy point to below its 50-day moving average. Steel Dynamics (STLD) dived 7.5% on Wednesday and 10.6% for the week, even with Friday's 4.4% bounce. STLD stock is now far below its 50-day line. Cleveland-Cliffs (CLF) sank 6% on Wednesday and 5.3% for the week, regaining its 50-day line on Friday.
#week
New 50% tariffs on $20 billion worth of Canadian goods, including liquor, electrical equipment and hockey gear, took effect on Saturday. Prime Minister Mark Carney vowed to retaliate "dollar for dollar," with its retaliatory tariffs starting Sept. 8 U.S. officials have threatened further escalation if that happens.
Earlier in the week, a trade deal seemed likely, with President Donald Trump late Tuesday postponing the new Canada tariffs, hours before they were set to kick in.
The U.S. and Canada seemed poised to reach a deal that would cut existing 50% tariffs on Canadian steel and aluminum to 25%, though steel imports would face limits. The U.S. also reportedly would cut duties on Canadian autos to 15% and scrap a 10% lumber tariffs.
The prospective of lower tariffs slammed U.S. steel stocks. Nucor (NUE) fell 5.85% on Wednesday and 9.4% for the week, tumbling from near a buy point to below its 50-day moving average. Steel Dynamics (STLD) dived 7.5% on Wednesday and 10.6% for the week, even with Friday's 4.4% bounce. STLD stock is now far below its 50-day line. Cleveland-Cliffs (CLF) sank 6% on Wednesday and 5.3% for the week, regaining its 50-day line on Friday.
#week
10 days ago
Nucor, Steel Dynamics, Cleveland-Cliffs and Century Aluminum could be winners from U.S.-Canada trade talks breaking down. Last week those stocks tumbled on the prospect of a Canada trade deal that would lower U.S. tariffs on steel and aluminum.
New 50% tariffs on a $20 billion worth of Canadian goods, including liquor, electrical equipment and hockey gear, took effect on Saturday. Prime Minister Mark Carney has vowed to retaliate "dollar for dollar." U.S. officials threatened further escalation if that happens.
Earlier in the week, a trade deal seemed likely, with President Donald Trump late Tuesday postponing the new Canada tariffs, hours before they were set to kick in.
The U.S. and Canada seemed poised to reach a deal that would cut existing 50% tariffs on Canadian steel and aluminum to 25%, though steel imports would face limits. The U.S. also reportedly would cut duties on Canadian autos to 15% and scrap a 10% lumber tariffs.
The prospective of lower tariffs slammed U.S. steel stocks. Nucor (NUE) fell 5.85% on Wednesday and 9.4% for the week, tumbling from a near a buy point to below its 50-day moving average. Steel Dynamics (STLD) dived 7.5% on Wednesday and 10.6% for the week, even with Friday's 4.4% bounce. STLD stock is now far below its 50-day line. Cleveland-Cliffs (CLF) sank 6% on Wednesday and 5.3% for the week, regaining its 50-day line on Friday.
#tariffs #week #canadian #trade
New 50% tariffs on a $20 billion worth of Canadian goods, including liquor, electrical equipment and hockey gear, took effect on Saturday. Prime Minister Mark Carney has vowed to retaliate "dollar for dollar." U.S. officials threatened further escalation if that happens.
Earlier in the week, a trade deal seemed likely, with President Donald Trump late Tuesday postponing the new Canada tariffs, hours before they were set to kick in.
The U.S. and Canada seemed poised to reach a deal that would cut existing 50% tariffs on Canadian steel and aluminum to 25%, though steel imports would face limits. The U.S. also reportedly would cut duties on Canadian autos to 15% and scrap a 10% lumber tariffs.
The prospective of lower tariffs slammed U.S. steel stocks. Nucor (NUE) fell 5.85% on Wednesday and 9.4% for the week, tumbling from a near a buy point to below its 50-day moving average. Steel Dynamics (STLD) dived 7.5% on Wednesday and 10.6% for the week, even with Friday's 4.4% bounce. STLD stock is now far below its 50-day line. Cleveland-Cliffs (CLF) sank 6% on Wednesday and 5.3% for the week, regaining its 50-day line on Friday.
#tariffs #week #canadian #trade
17 days ago
Nvidia stock, Nucor and Avnet are among five top stocks to watch near buy points this week, with robust and even rip-roaring growth. ASML stock and Cenovus Energy also make the cut.
AI chip giant Nvidia (NVDA) is holding just above a short handle entry. Nucor stock and Avnet (AVT) are trading tightly around buy points. ASML Holding (ASML) offers an early trendline entry. Cenovus Energy (CVE) broke out on Friday.
Four out of the top stocks to watch this week have second-quarter earnings out of the way. NVDA stock, the outlier, is slated to report on Aug. 26.
Nucor (NUE) and Avnet stock earn a spot on the IBD Leaderboard. ASML stock is on the IBD 50 list of top growth stocks.
The relative strength lines of these five growth stocks are trending higher. Most of the RS lines are also near highs, a positive sign for stocks trying to break out. The RS line tracks a stock's performance vs. the S&P 500. It's the blue line in the charts provided here.
#Stock #Growth #cenovus #nvda
AI chip giant Nvidia (NVDA) is holding just above a short handle entry. Nucor stock and Avnet (AVT) are trading tightly around buy points. ASML Holding (ASML) offers an early trendline entry. Cenovus Energy (CVE) broke out on Friday.
Four out of the top stocks to watch this week have second-quarter earnings out of the way. NVDA stock, the outlier, is slated to report on Aug. 26.
Nucor (NUE) and Avnet stock earn a spot on the IBD Leaderboard. ASML stock is on the IBD 50 list of top growth stocks.
The relative strength lines of these five growth stocks are trending higher. Most of the RS lines are also near highs, a positive sign for stocks trying to break out. The RS line tracks a stock's performance vs. the S&P 500. It's the blue line in the charts provided here.
#Stock #Growth #cenovus #nvda
1 month ago
Cleveland-Cliffs (NYSE:CLF), an integrated flat-rolled steel and iron ore producer, closed at $10.96, up 15.98%. Quarterly results and upbeat guidance drove the gain; investors are watching second-half earnings and third-quarter adjusted EBITDA.
Trading volume reached 64.1 million shares, coming in about 223% above its three-month average of 19.8 million shares.
The S&P 500 (SNPINDEX:^GSPC) fell 1.21% to 7,408, and the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 2.15% to 25,138. Among other domestic flat-rolled steel manufacturing names, Nucor (NYSE:NUE) closed at $241.15, up 2.23%, while Steel Dynamics (NASDAQ:STLD) closed at $240.57, up 0.81%, highlighting firmer trading in domestic steel peers.
Cleveland-Cliffs confirmed today that the domestic steel market is thriving. Revenue improved both sequentially and year over year as steel pricing and demand remain strong.
Cliffs saw free cash flow turn positive with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumping from $95 million in Q1 to $286 million in Q2. Management expects it to approximately double to $575 million in the third quarter.
The company isn't alone in seeing strength in the sector. Last week, Steel Dynamics posted strong Q2 profit and record shipments, reinforcing domestic pricing strength. Sector leader Nucor will announce its second-quarter results next week. Investors can likely expect more of the same.
#steel #cliffs #closed #quarter
Trading volume reached 64.1 million shares, coming in about 223% above its three-month average of 19.8 million shares.
The S&P 500 (SNPINDEX:^GSPC) fell 1.21% to 7,408, and the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 2.15% to 25,138. Among other domestic flat-rolled steel manufacturing names, Nucor (NYSE:NUE) closed at $241.15, up 2.23%, while Steel Dynamics (NASDAQ:STLD) closed at $240.57, up 0.81%, highlighting firmer trading in domestic steel peers.
Cleveland-Cliffs confirmed today that the domestic steel market is thriving. Revenue improved both sequentially and year over year as steel pricing and demand remain strong.
Cliffs saw free cash flow turn positive with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumping from $95 million in Q1 to $286 million in Q2. Management expects it to approximately double to $575 million in the third quarter.
The company isn't alone in seeing strength in the sector. Last week, Steel Dynamics posted strong Q2 profit and record shipments, reinforcing domestic pricing strength. Sector leader Nucor will announce its second-quarter results next week. Investors can likely expect more of the same.
#steel #cliffs #closed #quarter
2 months ago
Carpenter Technology Corporation (NYSE:CRS) was among Jim Cramer's stock calls on Mad Money, as he advised investors to stick with the largest tech companies in the market. Toward the end of the lightning round, when a caller mentioned that they like the company, Cramer said:
And so do I, and not just because… CarTech is one of Philly's best. You got a terrific company there. What a great chart, too. I think I would buy some here and buy some if it comes down. But definitely add some right here.
A woman reading and ******* yzing stock market data. Photo by Artem Podrez on Pexels
Carpenter Technology Corporation (NYSE:CRS) distributes specialty metals, including ******* anium alloys, stainless steels, alloy steels, tool steels, and metal powders, as well as engineered metal parts. The company's products are used in aerospace, defense, medical, transportation, energy, industrial, and consumer markets. A caller inquired about the stock during the April 10 episode, and Cramer replied:
It's an amazing company, CarTech, and I think that you should just hold on to it. I always think of Nucor, and then I think of CarTech…
And so do I, and not just because… CarTech is one of Philly's best. You got a terrific company there. What a great chart, too. I think I would buy some here and buy some if it comes down. But definitely add some right here.
A woman reading and ******* yzing stock market data. Photo by Artem Podrez on Pexels
Carpenter Technology Corporation (NYSE:CRS) distributes specialty metals, including ******* anium alloys, stainless steels, alloy steels, tool steels, and metal powders, as well as engineered metal parts. The company's products are used in aerospace, defense, medical, transportation, energy, industrial, and consumer markets. A caller inquired about the stock during the April 10 episode, and Cramer replied:
It's an amazing company, CarTech, and I think that you should just hold on to it. I always think of Nucor, and then I think of CarTech…
2 months ago
Nucor Corp (NYSE:NUE) is one of the best stocks to buy according to David Greenspan's Slate Path Capital. Slate Path Capital increased its position in Nucor Corp stock by 23% during Q1 2026, and the stock now makes up 5.1% of the portfolio. Some 59 hedge funds have positions in this American steel stock.
On June 17, Nucor Corp (NYSE:NUE) provided an update on its earnings expectations for Q2 2026. The steel producer is expecting to post GAAP EPS in the range of $4.70 to $4.80 and adjusted EPS in the band of $4.50 to $4.60. The company's GAAP EPS was $2.60 in Q2 2025. Nucor expects its Q2 earnings to benefit from strong volumes and prices.
Nucor had a strong start to the year, delivering solid Q1 2026 results. It entered Q2 with a commitment to generate strong returns for shareholders. The company had returned $630 million to shareholders in the form of dividend payments and share repurchases since the year began through June 17.
Nucor Corp (NYSE:NUE) is a leading American producer of steel and steel products. The company operates facilities in the US, Canada, and Mexico, producing steel in the forms of bars, beams, sheets, and plates. It also manufactures fabricated steel products for the construction, energy, and automotive industries.
While we acknowledge the potential of NUE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
On June 17, Nucor Corp (NYSE:NUE) provided an update on its earnings expectations for Q2 2026. The steel producer is expecting to post GAAP EPS in the range of $4.70 to $4.80 and adjusted EPS in the band of $4.50 to $4.60. The company's GAAP EPS was $2.60 in Q2 2025. Nucor expects its Q2 earnings to benefit from strong volumes and prices.
Nucor had a strong start to the year, delivering solid Q1 2026 results. It entered Q2 with a commitment to generate strong returns for shareholders. The company had returned $630 million to shareholders in the form of dividend payments and share repurchases since the year began through June 17.
Nucor Corp (NYSE:NUE) is a leading American producer of steel and steel products. The company operates facilities in the US, Canada, and Mexico, producing steel in the forms of bars, beams, sheets, and plates. It also manufactures fabricated steel products for the construction, energy, and automotive industries.
While we acknowledge the potential of NUE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
