SOXL is trading 5.8% higher today as the information technology sector extends its recovery from the July 13 selloff, bolstered by cooling inflation data and a global rally in semiconductor stocks.
- Macro tailwinds from softer inflation data and anticipation of a cooling PPI report are boosting risk appetite for high-beta semiconductor and AI plays.
- Global momentum is providing a lift after South Korea’s Kospi and major Asian semiconductor names surged during the overnight session.
- Leveraged ETFs are seeing outsized gains as the sector recovers from recent volatility, driven by renewed investor confidence in the chip industry.