Stock market sentiment reflects investor caution, despite Wall Street’s attempt to stop the decline after the US stock market open.
- Wall Street is trying to halt the sell-off, but the tech-heavy US100 is still down -1.5%
- Uranium and nuclear energy stocks are rising on news of a special legislative push for the U.S. nuclear sector
- Semiconductor and Big Tech sectors under pressure; Apple and TSMC shares fall over 2%
- Trump renews trade threats, indicating a 50% tariff on the European Union starting June 1
- 10-year Treasury yields fall over 4 basis points, but remain above 4.5%
- The US Dollar Index (USDIDX) drops nearly -0.7%, failing to hold gains after Trump’s comments
US100 Chart (D1 interval)
The US100 is holding losses at around -1.5%, but testing the 71.6% Fibonacci retracement level from the February 2025 downtrend near 20,670 points remains a strong possibility.
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Nuclear sector stocks surge
Shares of companies tied to the nuclear energy sector soared following reports that U.S. President Donald Trump may sign a series of executive orders as early as Friday, aimed at reviving the American nuclear industry. According to Reuters sources, the plan includes streamlining regulatory procedures for new reactors and strengthening the nuclear fuel supply chain.
These proposed changes align with broader energy transformation trends, where nuclear power could serve as a stable energy source for the growing demand from AI and cryptocurrency data centers. Nuclear energy is poised to play a crucial role in powering AI data hubs.
Companies seeing notable gains include Uranium Energy (UEC.US), Energy Fuels (UUUU.US), and Centrus Energy (LEU.US). Canada’s Cameco (CCO.US) is also up nearly 10%. However, the most excitement surrounds next-generation nuclear tech companies such as Nano Nuclear Energy (NNE.US), NuScale (NNO.US), and Oklo (OKLO.US)—the latter backed by Sam Altman and OpenAI. Despite constraints on green energy, Trump’s fiscal policy bill retained tax incentives for the nuclear sector.
Uranium Energy Corp (UEC.US)
Shares of Uranium Energy Corp, the largest uranium miner in the U.S., are surging nearly 24% today, breaking above the 200-day EMA at $6.20 per share, signaling a potential trend reversal.
Source: xStation5
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