Constellation Energy Corp, a leading nuclear power operator, saw its stock soar by 5.05% in intraday trading on Wednesday, outperforming the broader market. This surge was driven by a rally in nuclear stocks, which were boosted by expectations of further interest rate cuts by the Federal Reserve.
Inflation data released on Wednesday indicated a moderation in price pressures, fueling speculations that the Fed may continue easing its monetary policy stance. This prospect reignited investor interest in sectors that could benefit from lower borrowing costs and a potential economic resurgence.
Alongside Constellation Energy Corp, other nuclear stocks experienced significant gains. Oklo rose 12%, NuScale Power advanced 9%, and NANO Nuclear Energy climbed 8%. The optimism surrounding the nuclear industry was further bolstered by the broader surge in robotics and drone stocks, which also benefited from the positive market sentiment.
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