Trump and Japan's PM Announce Nuclear Project Costing $40 Billion
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.NUCLEAR PROJECT:President Donald Trump and Japanese Prime Minister Sanae Takaichi are set to announce a nuclear project in the southern U.S., part of a bilateral investment fund under a trade pact, Bloomberg's Josh Wingrove. GE Vernovaand Hitachiwill build BWRX-300 small modular reactors in Tennessee and Alabama, with costs estimated up to $40B, according to the report.FANNIE, FREDDIE UNDER PRESSURE:Shares of Fannie Maeand Freddie Machave dropped about 70% over six months, reaching their lowest level in over a year amid doubts about the Trump administration's plans to sell more stock to the public, Bloomberg's Felice Maranz and Scott Carpenter. Optimism for a 2025 IPO faded as attention shifted to other priorities and rising mortgage rates may deter officials from pursuing a share offering that could affect housing affordability and government support perceptions, the report notes.ANTHROPIC LAWSUIT:The Trump administration argued in federal court that designating Anthropic a supply-chain risk does not violate its First Amendment rights and asserted the company's lawsuit will fail, Wired's Paresh Dave. "The First Amendment is not a license to unilaterally impose contract terms on the government, and Anthropic cites nothing to support such a radical conclusion," DOJ attorneys wrote. Anthropic is challenging the Pentagon's designation, which could restrict defense contracts and potentially cost the company billions in expected revenue.IRAN WAR:Treasury Secretary Bessent said in an interview on Fox Business that, "we may unsanction Iranian oil on the water, which is about 140M barrels." He further stated that he would be surprised if there isn't some kind of international coalition to guide ships through Strait of Hormuz. Bessent expects to have very good discussion with Japan PM Takaichi, noting the country has very large strategic petroleum reserve and that he believes they may supply the market. The Treasury Secretary views the Chinese are "unreliable suppliers." With Venezuela, Iran, and hopefully Russia-Ukraine being solved, he believes gas prices will be lower on the other side of the conflict.
