The ProShares Ultra S&P500 (SSO) closed up 2.46% at $94.28 on January 3rd, as the S&P 500 index rebounded sharply, driven by gains in technology and consumer discretionary stocks. Nvidia led the tech rally with a 4% surge, contributing to the S&P 500's 1.3% rise, while the Nasdaq climbed 1.8%. This recovery followed a challenging start to 2025, with the S&P 500 snapping a five-day losing streak. Despite the day's gains, the index remained on track for a weekly loss of 0.5%. Market sentiment was buoyed by expectations of pro-business policies from the incoming Trump administration, which could drive growth through corporate tax cuts and deregulation. However, concerns about inflation and potential tariff impacts lingered. The U.S. House of Representatives' re-election of Republican Mike Johnson as speaker also supported the rally.