NANO Nuclear Energy Inc (NNE) saw its stock price surge 8.47% in Wednesday morning trading, as nuclear energy stocks rallied on expectations that the Federal Reserve will cut interest rates further by July due to easing inflation.
The jump in NANO Nuclear Energy's shares was part of a broader surge in nuclear and other innovative technology stocks. According to the news report, other nuclear companies like Oklo and NuScale Power also experienced significant gains, with Oklo rising 12% and NuScale Power climbing 9%.
The surge in these stocks was driven by investors' renewed optimism about the Fed's monetary policy stance, following the release of benign inflation data. Traders are betting that the central bank will continue easing interest rates, which could provide a tailwind for capital-intensive industries like nuclear energy.
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