Why Nucor Stock Jumped 10% This Week
Not every investor wants to invest in a cyclical sector. But it can be an important addition to a well-diversified portfolio. Nucor (NYSE: NUE) is the largest pure-play steel and steel products company in North America.While it is most commonly thought of as more of an income stock than a growth stock, shares popped as much as nearly 12% at one point this week. The stock has now moved off a three-year low it hit in early April. That was aided by the 10% surge it has made this week as of early Friday morning, according to data provided by S&P Global Market Intelligence.This week's move came after President Donald Trump announced the doubling of steel tariffs to 50% and officially implemented that raised level on June 4. That could be a meaningful move for the leading domestic steel company.Continue reading
Not every investor wants to invest in a cyclical sector. But it can be an important addition to a well-diversified portfolio. Nucor (NYSE: NUE) is the largest pure-play steel and steel products company in North America.
While it is most commonly thought of as more of an income stock than a growth stock, shares popped as much as nearly 12% at one point this week. The stock has now moved off a three-year low it hit in early April. That was aided by the 10% surge it has made this week as of early Friday morning, according to data provided by S&P Global Market Intelligence.
This week's move came after President Donald Trump announced the doubling of steel tariffs to 50% and officially implemented that raised level on June 4. That could be a meaningful move for the leading domestic steel company.
