Direxion Daily Concentrated Qs Bull 2X Shares

QQQU

Market cap $105M

Underneath the glitz of artificial intelligence, cloud computing and advanced mobility is an elite group of publicly traded innovators known as the Magnificent Seven. Earlier this summer, these powerhouse enterprises combined represented a record-breaking $19.4 trillion in market capitalization.

While concerns about economic stability — brought on largely by the Trump administration's tariff policies — have weighed on investor sentiment this year, so far, the market has largely been pushing aside such anxieties. Since the start of the year, the benchmark S&P 500 index has gained approximately 12%.

Late last month, JPMorgan analysts stated that with other global regions struggling with various challenges, the U.S. will likely remain the global growth leader. Much of this bold assertion centers on artificial intelligence.

Editor's note: Any and all references to time frames longer than one trading day are for purposes of market context only, and not recommendations of any holding time frame. Daily rebalancing ETFs are not meant to be held unmonitored for long periods.

Following market uncertainty in August, investors may feel compelled to reassess their portfolio allocations. With potential rate cuts from the Federal Reserve on the horizon, now may be a good time to diversify your portfolio and seek growth strategies.

Editor's note: Any and all references to time frames longer than one trading day are for purposes of market context only, and not recommendations of any holding time frame. Daily rebalancing ETFs are not meant to be held unmonitored for long periods.

Wall Street has been on a solid rally in June, buoyed by the continued artificial intelligence (AI) boom. In the month, the Nasdaq and S&P 500 have risen nearly 6.7% and 4.7%, respectively, while the Dow has gained 2.8%.

The second quarter proved to be a banner quarter for Wall Street, with the S&P 500 and the Nasdaq Composite Index scaling new record highs on several occasions.

Investors might be feeling hesitant to jump on Nvidia's stock given its strong run. But some market experts think it's not too late to jump on the bandwagon.

The broad stock market is taking a breather from its rally. That means the “Magnificent Seven” stocks are also catching their breath after a strong rally that started late in 2023.