Direxion Daily Technology Bull 3X Shares is trading 6.2% up today as the information technology and semiconductor sectors stage a relief bounce following last week’s sharp leveraged selloff.
- The rebound follows a significant downturn triggered by the strong May U.S. jobs report, which led to a jump in rate-hike expectations and hit growth names particularly hard.
- Traders are actively buying back high-beta AI and chip exposure as the sector recovers from oversold conditions, even as broader indices remain mixed.
- The move reflects a stabilization in the tech sector following the labor-driven repricing of yields that pressured leveraged instruments last week.