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Morning Bell With Jim Cramer: Nucor Climbs on Infrastructure Package

TheStreet's Jim Cramer speaks with Nucor's CEO on "Mad Money" about the importance of rebuilding the nation's infrastructure.
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Stock futures traded mostly lower on Wednesday as traders awaited U.S. inflation data they hope will provide them with a clearer sense of Federal Reserve policy.

In a bipartisan victory for President Joe Biden, the Senate passed a $1.2 trillion infrastructure package. That's been a key item on his agenda since he was elected.

In the Senate, 19 Republicans voted yes on the bill, which led to a 69-30 victory in the 100-seat chamber. All 50 Democrats voted yes.

The bill will include funding for roads and bridges, as well as money for transit, rail and electric vehicles, among other things.

TheStreet's Jim Cramer has maintained that steelmaker Nucor  (NUE) - Get Nucor Corporation Report stood to benefit from such legislation and the shares surged when the package passed. 

The company's stock, which hit an all-time high on Tuesday, at last check was up 2% while U.S. Steel  (X) - Get United States Steel Corporation Report was up 0.7%.

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Nucor CEO: 'A Significant Day for Our Nation.'

Cramer on Tuesday night spoke with Leon Topalian, president and CEO of Nucor, on "Mad Money." The executive said it was "a significant day for our nation."

Topalian said the U.S. must invest to stay competitive, and the pandemic proved how important it was to make products in the country. 

He cited the importance of America's safety and competitiveness, as well as the resurgence of American manufacturing.

The CEO said the entire American steel industry is well-positioned to benefit from the infrastructure bill, should it be signed into law. He noted that China spent $8 trillion on infrastructure last year alone.

"We’ve got to stay competitive as a nation," Topalian said.

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