Jim Cramer Says “Nucor’s Hostage to the Fed’s Next Move”

Nucor Corporation (NYSE:NUE) is one of the stocks Jim Cramer recently commented on. Cramer discussed the stock in light of interest rates, as he said:

“I am looking for stocks you don’t have a buy and a sell. You just own them. I waffle on the builders of data centers, too. I think they may have secular growth, meaning growth that doesn’t depend upon the health of the broader economy. That’s the kind of growth I’m looking for. I just don’t know if they have enough of it. I feel the same way about Nucor. Got a large data center, steel business, even as other customers desperately need lower interest rates. So that means Nucor’s hostage to the Fed’s next move, and we don’t know if we’re going to get a rate cut in their next meeting.”

A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels

Nucor Corporation (NYSE:NUE) manufactures steel and steel products, including sheet, plate, bar, and structural steel. The company also produces raw materials, metal products, and industrial gases for construction, manufacturing, and energy applications.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.