Stock Market Volatility Trends Higher Ahead Of Nvidia Earnings, Jackson Hole Symposium: This Fund Offers 1.5X Leverage
Portfolio Pulse from Melanie Schaffer
The Convexity Daily 1.5x SPIKES Futures ETF (SPKY) started the trading session with a slight gap down before trading near flat. SPKY is a 1.5x leveraged fund that follows the SPIKES Futures Short-Term Index, similar to the ProShares Ultra VIX Short Term Futures ETF (UVXY). The market may see increased volatility due to Nvidia Corporation’s upcoming earnings report and Federal Reserve chair Jerome Powell's speech at the Jackson Hole Symposium. If Nvidia's report is positive and Powell hints at rate cuts, big tech could push significantly higher.
August 21, 2023 | 4:58 pm
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NEUTRAL IMPACT
Nvidia's upcoming earnings report could cause increased market volatility. A positive report could push big tech significantly higher.
Nvidia's earnings report is a significant event that could cause increased market volatility. If the report is positive, it could push the company's stock and the broader tech sector higher.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 75
NEUTRAL IMPACT
SPKY, a 1.5x leveraged fund, started the trading session with a slight gap down but traded near flat. The ETF could see increased volatility due to Nvidia's earnings report and Jerome Powell's speech.
SPKY's performance is directly tied to market volatility. With Nvidia's earnings report and Jerome Powell's speech, the market is expected to see increased volatility, which could impact SPKY's performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100