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Sprott Uranium Miners ETF Newsroom
The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
If Trump Starts A Trade War, Canada Could Impose Export Taxes On Oil, Uranium: Report
Under pressure from the threat of Trump's trade war? Canada is considering imposing tariffs on Uranium, oil, and potash as retaliation.
Canada is the largest external source of oil supply for the USA and also the largest external source of Uranium for USA nuclear power plants. The potash produced in the western provinces of Canada is an important source of fertilizer for USA farms. The media reports that imposing export taxes on these Commodities is Canada's most desperate choice, and Canada is more likely to impose retaliatory tariffs on imported USA-manufactured goods, as well as implement export controls on certain Canadian products.
Canada is considering imposing export taxes on Commodities such as Uranium to respond to the trade war initiated by Trump.
① Canada is researching imposing taxes on exports to the USA in response to Trump's potential trade war, including Uranium, oil, and potash; ② The Canadian government may first implement retaliatory tariffs and export controls, reserving taxation as a last resort; ③ If the USA exempts only Energy products, this situation may also prompt Canada to impose export taxes.
Uranium Energy Analyst Ratings
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SA Sentiment: Nuclear Wins as the Best Alternative Energy Source
Another main theme of AI investment emerges: US hedge funds heavily buy nuclear power stocks as technology giants gather to deploy this technology.
①In Q3, American hedge funds maintained a stable exposure to AI-related investment themes, but reduced their investment in the semiconductor industry for the first time since Q2 2022. ②In OpenAI's latest disclosed "American AI Infrastructure Blueprint," lies its grand nuclear power vision; Huang Renxun also expresses a bullish attitude towards nuclear energy. ③From the trends of tech giants, most of them have chosen small modular reactors (SMR).
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