Top Leveraged ETFs That Shined Last Week on Wall Street

New York: Last week was a good one for Wall Street. The S&P 500 climbed about 2.9%, the Dow Jones jumped around 3.7%, and the Nasdaq rose by 2.5%. It was the best week for the Dow and S&P since the presidential election in November.

Retail sales didn’t quite meet expectations in December, growing at a slower pace. This news sparked hopes for a more lenient Federal Reserve, which helped lift the overall market.

The recent Gaza ceasefire, easing inflation, and strong bank earnings also played a role in boosting Wall Street. Many major banks reported positive earnings last week, adding to the market’s momentum.

Inflation in the U.S. ticked up for the third month in a row, reaching 2.9% in December, which was in line with what analysts expected. This increase was partly due to last year’s low energy prices.

In a significant development, Israel and Hamas reached a ceasefire agreement on Wednesday, aiming to end the 15-month conflict in Gaza. The deal includes a phased approach to implementation and is based on a framework suggested by the Biden administration.

Despite the mixed retail sales data, Bitcoin made a comeback, gaining about 9% last week. Companies linked to Bitcoin, like MicroStrategy and Coinbase, saw their stock prices rise significantly.

With all this in mind, several leveraged ETFs stood out last week. The Defiance Daily Target 2X Long MSTR ETF surged by 43.7%, while the GraniteShares 2x Long COIN Daily ETF rose by 28.5%. Other notable performers included the Direxion Daily Homebuilders & Supplies Bull 3X Shares and the Direxion Daily Regional Banks Bull 3X Shares, which gained 26.8% and 25.4%, respectively.

Lastly, the ProShares Ultra Bitcoin ETF also saw a solid increase of 21.7%. It’s clear that these leveraged ETFs are making waves in the current market landscape.