GraniteShares 2x Long MU Daily ETF is trading 9.1% up today as the technology and semiconductor sectors stage a partial recovery following last week’s rate-driven selloff.
- The rebound follows a volatile period where strong May jobs data and hawkish interest rate expectations triggered a $1.3 trillion decline in chip stocks and a 4% drop in the Nasdaq.
- With no major U.S. economic data scheduled for June 8 and equity futures trending modestly higher, leveraged tech products are seeing a sharp bounce as market sentiment stabilizes.
- The ETF, which provides 2x leveraged exposure to Micron Technology, is benefiting from the broader snapback in the information technology complex after the recent fallout.