

US Steel Drops, Walmart Jumps, ETF Big Bet
Apr 9, 2025
A remarkable surge in the ProShares UltraPro QQQ fund is stealing the spotlight, with record inflows despite a down year for the Nasdaq 100. Meanwhile, Walmart and other retail stocks experience a boost after news of a tariff pause, with Walmart optimistic about meeting its financial goals. On the flip side, U.S. Steel faces a 16% drop following government remarks, intensifying concerns about foreign ownership and market stability. This mix of optimism and uncertainty creates a fascinating dynamic for investors.
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TQQQ's Record Rally
- The ProShares UltraPro QQQ fund (TQQQ) saw its best rally ever, rising 35%.
- This ETF provides three times the daily performance of the Nasdaq 100.
Walmart's Surge
- Walmart stock had its biggest jump since March 2020 after Trump's tariff announcement.
- Walmart executives expressed confidence in reaching financial targets despite tariff issues.
Tariff Pause Boosts Retail
- Retail stocks, including Walmart and Nike, rallied after Trump announced a 90-day tariff pause.
- This pause applies to countries that haven't imposed retaliatory tariffs on the US.