Nucor (NUE) Stock Rises 3% Pre-Market After Tariff-Driven Selloff
TLDR
- Nucor rose 2.6% in pre-market trading to $250, recovering from a tariff-driven selloff
- Stock had dropped from its 52-week high of $280.11 after reports of a US-Canada trade deal that could cut Canadian steel tariffs to 25%
- Q2 2026 net earnings came in at $1.16 billion, or $5.04 per diluted share, up from $2.60 a year ago
- Management guided for higher consolidated earnings in Q3 2026
- US steel imports are running roughly 30% below year-ago levels, supporting domestic pricing power
Nucor (NUE) stock climbed 2.6% in pre-market trading on Monday, touching $250 as buyers returned following a sharp pullback from its 52-week high of $280.11.
The drop started on August 19 when reports surfaced of a tentative US-Canada trade agreement. The deal would lower tariffs on Canadian steel and aluminum exports to 25%, raising fears about increased import competition and pressure on domestic steel prices.
That news sent NUE into the mid-$240 range in a matter of days.
Mondayโs pre-market bounce suggests investors are reconsidering how much of a real threat that deal poses. The stock had pulled back close to technical support levels, and some buyers appear to have seen that as an opportunity.
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