Nuclear stocks jump on report of Trump orders to boost sector

Investing.com -- Shares of nuclear energy companies have rallied premarket Friday after a Reuters report said U.S. President Donald Trump is preparing to sign executive orders aimed at revitalising the nuclear power industry as early as Friday.

The report explains that the upcoming orders are expected to simplify the regulatory process for approving new reactors and strengthen domestic nuclear fuel supply chains. 

According to Reuters, the White House may also invoke the Cold War-era Defense Production Act, allowing Trump to declare a national emergency over U.S. reliance on Russia and China for enriched uranium and advanced nuclear technology components.

The report triggered gains across the sector in premarket trading. 

Uranium Energy (NYSE:UEC) is up 18%, Energy Fuels (TSX:EFR) and NuScale Power have climbed 16%, and Centrus Energy (NYSE:LEU) has jumped 22%. 

Companies with nuclear utility exposure also rallied, with Constellation Energy (NASDAQ:CEG) up 5.3%, GE Vernova gaining 3%, and Vistra rising 4%.

Nuclear startups and technology firms posted even steeper increases. Oklo Inc., backed by OpenAI CEO Sam Altman, soared 19%, and Nano Nuclear Energy gained 17.4%. The Global X Uranium (NYSE:URA) ETF has advanced 9%.

A Reuters source reportedly said that officials from the industry, including the Nuclear Energy Institute and Constellation, were asked to attend a signing ceremony Friday afternoon. 

Furthermore, Reuters says the Trump administration has been discussing four draft executive orders that look for ways to give the administration more power to approve reactors and reform the Nuclear Regulatory Commission.