Investor sentiment has been buoyed by the recent announcement of a one-month delay in US tariffs against Mexico, which has shifted attention to potential trade resolutions with Canada. This development has led to a reallocation of funds into equities, as investors anticipate that stocks could continue to rise if Canada follows suit. The delay in tariffs is perceived as a positive move towards easing trade tensions, potentially enhancing corporate profits and stimulating economic growth. Despite the optimism, the S&P 500 Index has experienced a slight decline, reflecting cautious market behavior as investors await further trade developments.
The ProShares Ultra S&P500 (SSO) ETF has seen a decrease in its price, falling 1.51% to $95.43 as of 12:20 PM on Monday, February 3.