Cramer has expressed caution about investing in Nucor, a steelmaker, due to disappointing earnings and discouraging guidance for the fourth quarter.

Nucor's stock experienced a decline of over 6% in response to the earnings report. The management of Nucor cited sluggishness in critical markets and other factors such as geopolitical unrest and increased steel imports as contributing to the weak performance.

Despite some positive developments in sectors related to semiconductor and data center construction, Cramer advises caution for potential investors. The recent rate cut by the Federal Reserve initially sparked optimism, but without clearer guidance on future rate cuts, it would be premature to make investment decisions in the steel sector.

Cramer emphasizes the importance of waiting for more clarity on the central bank's next moves, particularly in light of the upcoming presidential election. Investors are encouraged to gather information and remain vigilant before making any commitments.