Nasdaq-100 Hits New Record on Tech Rally, 7x Long DLC Rises 7%; SpaceX Surges 7%
Wall Street rallied on Friday (2 October), as weaker-than-expected jobs data helped to ease concerns over elevated yields.
The tech-heavy $NASDAQ 100(NDX)$ surged 1% to a new record high. Amplifying the return, the Nasdaq 7x Long DLC (MFVW) gained about 7%, while the Nasdaq 7x Short DLC (W5BW) sank a similar magnitude.
Among DLC-covered underlyings, $SpaceX(SPCX)$ was the top gainer, rising 7.35% following a series of successful launches and renewed interest in its space-based AI opportunities.
This lifted the SpaceX 3x Long DLC (WK4W) by close to 22%, while the SpaceX 3x Short DLC (YF1W) sank a similar magnitude.
In contrast, memory stocks $Micron Technology(MU)$ and $SanDisk Corp.(SNDK)$ were among the biggest losers, declining 2.05% and 3.79% respectively.
Correspondingly, the Micron 3x Short DLC (1J9W) rose about 6%, with the Micron 3x Long DLC (VV9W) sinking around the same magnitude. Meanwhile, the newly-listed $Micron 5xLongSG280915(OLUW.SI)$ fell around 10%. There is currently no Micron 5x Short DLC listed.
The Sandisk 3x Short DLC (NNSW) surged about 11%, with the Sandisk 3x Long DLC (ZIPW) declining a similar magnitude.
Investors who are bullish and expect upward momentum to continue may consider the Long DLCs for magnified exposure, while those with a bearish outlook may consider the Short DLCs for inverse exposure.
View the full list of DLCs here.
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- EltonRichard·10-05 17:32SpaceX AI angle really does open up a bigger valuation story, and the launch streak is what makes the hype stick 🚀LikeReport
- AuntieAaA·00:26GoodLikeReport