Micron jumps 9%, Nvidia adds 3.8% as Nasdaq Rebounds Sharply
Wall Street rallied on Tuesday with the $NASDAQ 100(NDX)$ and $S&P 500(.SPX)$ both gaining over 1% to re-approach their record highs. Risk sentiment improved amid easing geopolitical concerns, while market attention increasingly shifted toward the upcoming earnings season.
The Nasdaq-100 advanced 1.8% to mark its longest winning streak since 2021. Amplifying the return, the Nasdaq 7x Long DLC surged more than 12%, with the corresponding Nasdaq 7x Short DLC falling a similar magnitude.
Among the biggest movers in the US market covered by the DLCs included $Micron Technology(MU)$ , which rose 9%, sending the Micron 3x Long DLC up 27% on a US market close-to-close basis, while the Micron 3x Short DLC declined by a similar magnitude.
$NVIDIA(NVDA)$ rose 3.8% to log its 10th consecutive day of gains, reinforcing near-term momentum in big-cap tech names. Correspondingly, the Nvidia 3x Long DLC climbed 11% and the Nvidia 3x Short DLC declined by a similar magnitude.
Tracking the gains in Wall Street, the $HSI(HSI)$ gapped up ~1% at Wednesday's market open. The move pushed the HSI 7x Long DLC up 7%, with the HSI 7x Short DLC down a similar magnitude.
Investors who view the current strength as the early phase of a potential market rally may consider Long DLCs to amplify directional exposure. Conversely, those expecting a pullback may consider Short DLCs to benefit from any downside move.
With the US earnings season approaching, investors may also choose to position ahead using either the Long or Short DLC.
See the full list of DLCs on dlc.socgen.com
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