The US stock market is slightly weaker after the opening bell on Wall Street. The strongest stock market sector is oil & gas where we can see optimism driven by expected rate cuts, solid US macro data and rising oil prices. Tesla gains 2%, Amazon surges 1.6% while Nvidia and Broadcom are losing more than 1%.
US500 (H1 interval)
Futures on US500 drop today ahead of tomorrow Fed decision and uncertainty across the US economy. We can see much weaker sentiments across the low and mid-cap stocks from the US, with US2000 losing more than 0.5%.
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Source: xStation5
Uranium Energy Corp (D1 interval)
Looking on the UEC chart we can see that the company drops from historic high however since April lows the stock is still almost 300% higher, driven by global demand for nuclear energy, boosting uranium prices. Yesterday, the US informed that the country will boost uranium strategic stockpile, while sanctions on Russian uranium are still real. UEC as the major domestic producer will probably see much higher demand for its uranium and production capabilities. However, today we can see the profit-taking trend.
Source: xStation5
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