AI stocks were in focus on Wednesday (1 July), as $Meta Platforms, Inc.(META)$ jumped 8.8% following reports that the company is planning to launch a cloud infrastructure business to sell AI computing power and model access to external customers.
The move drove the Meta 3x Long DLC up by more than 26%, while the Meta 3x Short DLC declined by a similar magnitude.
$Palantir Technologies Inc.(PLTR)$ also gained 7.77% after announcing its partnership with $NVIDIA(NVDA)$ on Sovereign AI, lifting the Palantir 3x Long DLC up by more than 23%, while the Palantir 3x Short DLC fell by a similar magnitude.
In contrast, $Micron Technology(MU)$ fell 10.57% amid a broader memory and semiconductor sector sell-off, following concerns triggered by Meta’s reported pivot into the cloud infrastructure space
Correspondingly, the Micron 3x Short DLC climbed close to 32%, while the Micron 3x Long DLC declined by a similar magnitude.
Meanwhile, Gold saw an eventful session, gaining as high as 2.7% to test the 4100 level before pulling back to close almost flat by the end of the trading session.
The market will be closely watching the near-term support at 4000. If this level holds, it could signal further bullish momentum, whereas a sustained break below it may point to further downside pressure on gold prices.
Investors with a bullish view on Gold may consider the GLD 5x Long DLC while those with bearish view may consider the GLD -5x Short DLC to potentially benefit from price moves.
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