The ProShares UltraPro Short QQQ ETF (SQQQ) is experiencing upward movement as the Nasdaq-100 Index faces pressure from a mix of corporate earnings reports and economic data releases. Notably, UnitedHealth reported weaker-than-expected revenue, causing its shares to decline, which has contributed to the overall negative sentiment in the tech-heavy index. Additionally, while Taiwan Semiconductor reported stronger-than-expected earnings, the broader market remains cautious ahead of key economic indicators, including retail sales and weekly jobless claims, which are expected to provide further insight into the health of the U.S. economy.
The Nasdaq-100 Index (NDX) is currently at 21,214.56, reflecting a decline of 0.11%. The SQQQ ETF, which inversely tracks the performance of the Nasdaq-100, has risen to $30.23, marking a 1.9% increase from its opening price.