Sector ETFs diverged today: Uranium mining ETF rose 2.5%, driven by geopolitical risks + nuclear energy narrative; Tech ETF rose 0.2%, still supported by the AI narrative; Small-cap ETF Russell 2000 also rose 0.2%, credit spreads remain high but didn't worsen further today; Energy ETF barely moved, oil price is near $96 but energy stocks didn't follow; Chinese internet ETF fell 1.6%, pressured by Hong Kong market sentiment.
High oil price but XLE not rising, uranium mining outperforming the energy sector — these two phenomena are side by side today. The nuclear energy narrative and the traditional energy narrative are diverging. Which one will last? 😔
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