Rising early AM to the Trump COVID-19 breaking news, the emails abound with commentary that ranges from the increasing interest in the Vice-Presidential debate to sincere concerns surrounding his health. Sr Editor Frederick Kozak text messaged us with: “There’s so much uncertainty in the global markets right now and Trump’s positive test will only add to it. It’s damned inconvenient to have this in the last month of the campaign. More uncertainty will be the order of the day.”
Henry Weingarten sent me his thoughts early AM with: “Markets hate uncertainty. Today’s bombshell announcement about Trump’s COVID-19 positive test is just that. Hence markets are dropping….keep in mind that this could shake up the presidential race in an unexpected way by focusing on the Vice President in 2021.”
Let’s turn our attention to “the other big news from the White House just two days earlier that an Executive Order has been issued declaring “a national emergency” to deal with the threat of a lack of critical minerals supply chain for the US.” as Sr Editor Matt Bohlsen wrote this morning in his column titled White House News: Trumps test positive for COVID-19 and critical materials national emergency declared.
In my opinion, the best written material on the Executive Order was issued in a news release by Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) yesterday titled: Energy Fuels Applauds President Trump’s Executive Order Declaring State of Emergency to Address America’s Overreliance on Critical Minerals from Foreign Adversaries; Includes Uranium, Vanadium and Rare Earth Elements.
Mark S. Chalmers, President and CEO of Energy Fuels stated: “President Trump made a strong statement last night (September 30, 2020) on the importance of bringing the production of critical minerals back to the United States. In 2018, the Administration deemed 35 minerals critical to U.S. national security and the economy. For 31 of these 35 minerals, the U.S. imports more than half of our requirements. And, for 14 of these 35 minerals, the U.S. is effectively 100% dependent on imports. These minerals are needed for aerospace, computers, cell phones, electrical generation and transmission, renewable energy systems and batteries, and advanced electronics. This is an unacceptable situation for a superpower like the United States, and we applaud President Trump for taking bold action to address this critical need.”
Follow-up to this news includes an interview with Jack Lifton of the Technology Metals Show, we should have this live over the weekend.
On a final note, we do cover biotech and life sciences and if your interested in seeing who we are watching in the capital markets for COVID-19, from our Top 20 companies in the Disinfection market sector to vaccinations, click here
We will be reviewing at market close today.
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