Direxion Daily Semiconductor Bull 3X Shares is trading 7.5% up today as the semiconductor sector sees a reflex bounce following a sharp three-day selloff triggered by shifting interest rate expectations.
- The recent rout was fueled by a stronger-than-expected May jobs report, which heightened concerns over a potential Fed rate hike and prompted a rotation out of high-valuation growth stocks.
- While Nasdaq 100 futures are modestly higher, the move is viewed as a technical stabilization rather than a shift in the macro narrative, which remains dominated by higher-for-longer rate concerns and AI-chip profit-taking.