Direxion Daily Technology Bull 3X Shares is trading 1.1% up today as the information technology sector stabilizes following several sharp down days driven by AI-spending concerns and higher-for-longer rate fears.
- Tech stocks are seeing a bounce alongside Nasdaq futures, suggesting short-covering and dip-buying in high-beta growth names rather than a shift in fundamental catalysts.
- The sector remains under pressure from Oracle’s aggressive AI capital expenditure plans and broader macroeconomic worries, including persistent inflation and geopolitical tensions.