Several stocks of major steel corporations were climbing on Monday following an upgrade of the firms at Longbow, citing strong evidence of an improved steel distribution market.

During early afternoon trading on Monday, shares of U.S. Steel (X) were higher over 2.4%, shares of AK Steel (AKS) were climbing over 2%, shares of Nucor (NUE) were gaining over 1.5%, and shares of Steel Dynamics (STLD) were moving nearly 1% higher after all were upgraded to "Buy" from "Neutral" at the firm.

After speaking with contacts in the sector, Longbow analyst Chris Olin sees Hot-Rolled Coil Steel prices rising by $50 to $60 per ton, spurred by a "recent uptick in downstream steel orders, inventory adjustments and a large pullback in the number of steel import offers."

Olin also sees improved chances of near-term government support of the U.S. steel sector in the form of protection from imports at 70% to 80%, up from 50% last month.

He reported that "some buyers" expect the HRC price to rise to $700 to $750 per ton following the government action, up from $590 to $600 currently.

What's Hot On the TheStreet

All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.

But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.

"When you have these sellers come in, all you have to do is wait them out -- and one of the things I learned as a hedge fund manager is that patience is a true virtue," TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on Apple's recent slide.

Not so fast, Amazon: Amazon's (AMZN) $13.7 billion bombshell bid for organic grocer Whole Foods (WFM) may not be a done deal, reports TheStreet's Lindsay Rittenhouse.

After the deal was announced on Friday, U.S. Rep. Ro Khanna (D-Calif.) urged the U.S. Department of Justice to conduct a review on the merger's legality and possible harm to the economy.

"I am concerned about what this deal means for suppliers and neighborhood grocery stores," Khanna said in a statement. "The Justice Department and FTC must undertake a review that considers not just the merger's impact on prices, but also the impact on jobs and wages. We need to reorient antitrust policy to factor in the harm that economic concentration causes for American workers."

Meanwhile, Whole Foods shares are trading above Amazon's offer price as to suggest a bidding war may ensue.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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