Tech Powers S&P 500, Nasdaq, Leveraged ETFs Win

Zacks06-06

Wall Street piled up strong gains in yesterday’s trading session, with the S&P 500 hitting the 25th record high this year and the Nasdaq Composite Index touching another record. The rally was driven ...

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The rally was driven ...</p>\n\n<a href=\"https://finance.yahoo.com/news/tech-powers-p-500-nasdaq-150000585.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech Powers S&P 500, Nasdaq, Leveraged ETFs Win</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech Powers S&P 500, Nasdaq, Leveraged ETFs Win\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-06 23:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/tech-powers-p-500-nasdaq-150000585.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street piled up strong gains in yesterday’s trading session, with the S&P 500 hitting the 25th record high this year and the Nasdaq Composite Index touching another record. The rally was driven ...</p>\n\n<a href=\"https://finance.yahoo.com/news/tech-powers-p-500-nasdaq-150000585.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0456855351.SGD","symbol_name":"JPMorgan Funds - Global Equity A (acc) SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/tech-powers-p-500-nasdaq-150000585.html","article_id":"2441747674","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Dx1LT9H2evdfknHrfdp2nQ--~B/aD00MDc7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/07ff931bafd26aca8c266330be220249"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2441747674","pubTimestamp":1717686000,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The continued AI frenzy, coupled with fresh rate hike bets, pushed tech stocks higherNVIDIA  provided the biggest boost to the two indices as it rose more than 5% to a new record and topped $3 trillion in market cap for the first time. The chipmaker became the second-most valuable company in the United States. Apple Inc.  has had the longest winning run since March 2022, while Hewlett Packard Enterprise  rallied 10.7% after reporting better-than-expected third-quarter revenues on strong AI server sales .Traders ramped up the rate-cut bets in the past week, driven by a slew of softer-than-expected U.S. economic data. The latest report released by payroll processor ADP showed that private sector job growth in the United States slowed down more than expected in the month of May. 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The rally was driven by tech stocks on fresh bets for Fed rate cuts, bolstered by multiple reports signaling slowing growth in the world's largest economy. Traders now see a nearly 69% chance of a September rate reduction, according to the CME's FedWatch tool. Expectations had hovered around 50% last week.The bullishness fueled a rally in the leveraged space. We highlight a bunch of the best-performing ETFs that led the way higher on the day. These include Direxion Daily Semiconductor Bull 3x Shares SOXL, Direxion Daily NVDA Bull 2X Shares NVDU, Direxion Daily S&P Biotech Bull 3x Shares LABU, MicroSectors Solactive FANG & Innovation 3X Leveraged ETN BULZ and GraniteShares 2x Long AMD Daily ETF AMDL. These funds will continue to see smooth trading, at least in the near term, provided the sentiments remain bullish.\nTech Boost\nThe continued AI frenzy, coupled with fresh rate hike bets, pushed tech stocks higherNVIDIA (NVDA) provided the biggest boost to the two indices as it rose more than 5% to a new record and topped $3 trillion in market cap for the first time. The chipmaker became the second-most valuable company in the United States. Apple Inc. (AAPL) has had the longest winning run since March 2022, while Hewlett Packard Enterprise (HPE) rallied 10.7% after reporting better-than-expected third-quarter revenues on strong AI server sales (read: 5 Top-Ranked Sector ETFs to Buy in June).Traders ramped up the rate-cut bets in the past week, driven by a slew of softer-than-expected U.S. economic data. The latest report released by payroll processor ADP showed that private sector job growth in the United States slowed down more than expected in the month of May. Additionally, the Bank of Canada’s decision to ease monetary policy and a widely expected cut by the European Central Bank also fueled optimism over a loose monetary policy.\nLeveraged ETFs\nLeveraged ETFs provide multiple exposures (2X or 3X) to the daily performance of the underlying index. These funds employ various investment strategies, such as the use of swaps, futures contracts and other derivative instruments to accomplish their objectives. Due to their compounding effect, investors can enjoy higher returns in a short period, provided the trend remains a friend.Since most of these ETFs seek to attain their goals on a daily basis, their performances could vary significantly from the performance of their underlying index or benchmark over a longer period compared with a shorter period (such as weeks, months or years) due to their compounding effect (see: all Leveraged Equity ETFs here).Investors should also note that leveraged ETFs involve more risk than traditional funds. They are often more costly and less tax-efficient, as they can see capital gains through the use of swaps and other derivative instruments.\nETFs in Focus\nDirexion Daily Semiconductor Bull 3x Shares (SOXL) – Up 12.5%Direxion Daily Semiconductor Bull 3x Shares targets the semiconductor corner of the technology sector with three times leveraged exposure to the NYSE Semiconductor Index. It has amassed about $10.7 billion in its asset base while charging 72 bps in fees per year.Direxion Daily NVDA Bull 2X Shares (NVDU) – Up 10.4%Direxion Daily NVDA Bull 2X Shares magnifies exposure to a single trade, seeking two times (200%) the daily percentage change of the common stock of NVIDIA. It has an expense ratio of 0.95% and has amassed $272.7 million in its asset base (read: ETFs to Tap on NVIDIA's 10-for-1 Stock Split Retail Frenzy).Direxion Daily S&P Biotech Bull 3x Shares (LABU) – Up 9.8%Direxion Daily S&P Biotech Bull 3x Shares creates a three-times leveraged long position on the S&P Biotechnology Select Industry Index. It charges an annual fee of 0.92% and has AUM of $1.1 billion.MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) – Up 7.8%MicroSectors Solactive FANG & Innovation 3X Leveraged ETN seeks three times leverage exposure to the performance of the Solactive FANG Innovation Index, which includes 15 highly liquid stocks focused on building tomorrow’s technology today. It has an AUM of $1.1 billion and charges 95 bps in annual fees.GraniteShares 2x Long AMD Daily ETF (AMDL) – Up 7.8%GraniteShares 2x Long AMD Daily ETF is the new entrant in the space, having accumulated $43 million in its asset base since March 2024. It seeks two times (200%) the daily percentage change of the common stock of Advanced Micro Devices (AMD) and charges 1.18% in annual fees from investors.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nDirexion Daily S&P Biotech Bull 3X Shares (LABU): ETF Research Reports\nDirexion Daily Semiconductor Bull 3X Shares (SOXL): ETF Research Reports\nMicroSectors FANG & Innovation 3X Leveraged ETN (BULZ): ETF Research Reports\nDirexion Daily NVDA Bull 2X Shares (NVDU): ETF Research Reports\nGraniteShares 2x Long AMD Daily ETF (AMDL): ETF Research Reports\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2441747674"}