Markets are also reacting after the Producer Price Index (PPI) for final demand recorded a 0.1% month-on-month rise in June, the Bureau of Labor Statistics said Thursday, rebounding from the revised 0.4% drop recorded in May but below the expected 0.2% rise.

What Happened With U.S. CPI Inflation?

U.S. CPI inflation in June decelerated more than anticipated, reinforcing investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle. The Bureau of Labor Statistics' data reveals a drop in the annual inflation rate from 4% in May to 3% in June, slightly below the average economist forecast of 3.1%.

This marks the twelfth consecutive month of declining inflation and the lowest reading since March 2021...Read More

What Else?

The Nasdaq-100 Index includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market. Many of these companies are well-known technology companies, which have exhibited strong growth in recent years.

If an investor believes in the long-term growth potential of the technology sector, they may see TQQQ as a way to participate in that growth.

According to data from Benzinga Pro, TQQQ has a 52-week high of $43.39 and a 52-week low of $16.10.