5 Leveraged ETF Winners on S&P 500's Best Week Since November
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2024
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Source: NASDAQ.COM
- S&P 500 Performance: S&P 500 saw its biggest weekly gain since November, with U.S. stocks recovering April losses.
- Tech Stocks Rally: Big Tech companies like Alphabet and Microsoft reported positive earnings, boosting their stock prices.
- Market Value Increase: Seven major tech companies collectively added $686 billion in market value, the strongest weekly performance since November 2023.
- Economic Indicators: U.S. GDP growth slowed to 1.6% in Q1, missing expectations, while inflation rose above market forecasts.
- Interest Rate Speculation: U.S. 10-year Treasury yield hit 4.70%, but markets now expect only one interest rate cut this year due to Powell's statements on inflation.
Analyst Views on SOXL
Wall Street analysts forecast SOXL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SOXL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 63.480
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Current: 63.480
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
