Nuclear Stocks Surge on Report Trump Plans to Boost Nuclear Power
Nuclear stocks surged in premarket trading on Friday after Reuters reported that President Trump will sign executive orders by as soon as Friday that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains.
Among strong gainers in premarket trading: Centrus Energy (NYSE:LEU) +23.4%, Lightbridge (LTBR) +22.7%, Oklo (OKLO) +20.3%, NANO Nuclear Energy (NNE) + 19.1%, NuScale Power (NYSE:SMR) +17.4%, Energy Fuels (UUUU) +16.2%, Uranium (UEC) +14.3%, Denison Mines (DNN) +8.7%, Cameco (CCJ) and BWX Technologies (BWXT) +7.7%, Constellation Energy (CEG) +5.7%, Vistra (VST) +4.1%, Talen Energy (TLN) +3.9%, GE Vernova (GEV) +3.3%.
A draft summary of the orders said Trump will invoke the Cold War-era Defense Production Act to declare a national emergency over U.S. dependence on Russia and China for enriched uranium, nuclear fuel processing and advanced reactor inputs, according to the report.
The summary reportedly also encourages the U.S. Department of Energy to use loan guarantees and direct loans to increase the buildout of reactors; Trump only used the Loan Programs Office in his first administration to support a large nuclear plant in Georgia.
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