Investor optimism has been buoyed by the prospect of improved US-China trade relations, following President Trump's announcement of a potential thaw in tensions. This development has reduced geopolitical risks and encouraged investment in equities, as the market anticipates enhanced corporate profits from potentially reduced trade barriers. The S&P 500 Index has been testing all-time highs, reflecting this positive sentiment. Despite the looming threat of a 10% levy on China, the possibility of resolving trade tensions favorably has bolstered investor confidence, driving stock valuations higher.
The ProShares UltraPro S&P 500 (UPRO) experienced a modest increase, rising 0.49% to $97.66 at 12:20 PM on Thursday, January 23.