uranium news, page-887

This marketwatch article says, traders of fed funds futures have priced in 94% chance that Fed Reserve increase will be 0.75% in June. By the afternoon, when Cleveland Fed president said that she saw no need of 0.75% increase, the sell off reversed but started again in the last half an hour. https://www.marketwatch.com/story/stock-futures-drop-and-bond-yields-climb-following-hawkish-comments-by-feds-powell-11650622790?mod=newsviewer_click

I am a new trader, started only last year. My assessment is that this decline in price is due to broader market sell off because not just stocks but actual uranium and futures are also down. The global URA ETF declined 8.39% day before but yesterday it was down by 3.89% whereas corresponding uranium futures declines were about 3% and 5.5%. Some of the US uranium/nuclear companies' declines were 10%+ day before but yesterday they were down by about 5%. Intraday price movement for these stocks was similar to the broader market.

Unfortunately in this sell off a number of good news for uranium got drowned. Two major announcements that I can think of are, Biden announcing USD 6 Billion support to nuclear energy companies and China announcing that they will be building six new reactors.

Based on internet discussions and news, I think that Uranium market is still a bull market and current decline in price is temporary. Price will probably go up again, once the market reverses.

DYOR.