On September 22, Direxion Daily S&P 500 Bull 3X Shares ETF rose 5.06% in regular trading, trading at $295.61/share, with turnover of $276 million. The rally corresponds to an approximate 1.7% gain in the underlying S&P 500 index.

On the news front, the Federal Reserve hiked rates by 25 basis points earlier this month — its first increase in three years — and the market broadly interpreted the move as a classic case of negative news being fully priced in. Multiple Wall Street institutions noted that in the past five rate-hike cycles, the S&P 500 posted gains averaging approximately 8.8%, with strong earnings growth and sustained AI capital expenditure expansion providing firm support. Goldman Sachs raised its forward S&P 500 target to 8,700, while Tallbacken Capital lifted its year-end target to 8,500, citing exceptionally robust profit growth. Additionally, a retreat in international oil prices from recent highs further bolstered risk appetite.

The fund, under normal circumstances, invests at least 80% of its net assets in financial instruments that, in combination, provide 3X daily leveraged exposure to the S&P 500 index. The index is designed to comprise the 500 leading, large-cap U.S.-listed issuers. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)