The GraniteShares 2x Long MSFT Daily ETF (MSFL) is experiencing downward pressure as technology stocks, including Microsoft, face significant declines. The tech sector is grappling with a broad sell-off following a series of earnings reports that have failed to meet investor expectations. Notably, major tech companies like Nvidia and Microsoft have seen their shares fall by 3% and 1.1%, respectively, contributing to the overall negative sentiment in the market. This downturn is further exacerbated by the Federal Reserve's latest inflation data, which, while in line with expectations, remains above the central bank's target, adding uncertainty to the interest rate outlook.
The broader market is also reacting to mixed economic signals, with the S&P 500 and Nasdaq Composite both sliding as investors digest the implications of the Federal Reserve's potential policy moves. The yield on 10-year Treasurys has decreased slightly, reflecting ongoing recalibrations of interest rate expectations. Meanwhile, the tech-heavy Nasdaq has been particularly affected, with losses in large-cap tech stocks dragging down the index. This environment of uncertainty and volatility is impacting investor confidence, particularly in the technology sector, which is sensitive to interest rate changes and economic forecasts.
The MSFL ETF is currently priced at $23.82, reflecting a 1.85% decrease from its previous close.