🔴 SOXS is trading 5.5% down today as chip stocks extend AI rally on strong mega-cap earnings

SOXS is trading 5.5% down today as chip and broader tech stocks continue their AI-driven rebound following strong mega-cap earnings.

• Robust results from Microsoft and Amazon, combined with easing inflation via softer PCE data, are boosting semiconductor shares and Nasdaq futures.
• The inverse leveraged ETF remains under pressure as a steady Federal Reserve outlook fuels risk-on sentiment in the tech sector, despite mixed performance in the S&P 500 and Dow.