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ProShares UltraPro QQQ Surges 3.24% on Strong Jobs Data and Tech Rally
ByAinvest
Friday, Jun 6, 2025 3:26 pm ET1min read
Shares of ProShares UltraPro QQQ (TQQQ) surged 3.24% to $74.48, driven by strong U.S. labor data and a broad rally in tech stocks. The ETF, which tracks the Nasdaq-100 Index and delivers three times its daily performance, is particularly sensitive to tech stocks. TQQQ's sharp advance was fueled by renewed momentum in large-cap tech and expectations for continued economic strength.
Shares of ProShares UltraPro QQQ (TQQQ) surged 3.24% to $74.48 on June 6, 2025, driven by strong U.S. labor data and a broad rally in tech stocks. The ETF, which tracks the Nasdaq-100 Index and delivers three times its daily performance, is particularly sensitive to movements in high-growth tech names.May's nonfarm payrolls increased by 139,000, surpassing economist forecasts of 130,000, while average hourly earnings rose 0.4%, the fastest monthly gain since January. The unemployment rate held steady at 4.2%. These robust data points eased concerns about an economic slowdown and boosted confidence in consumer spending.
The Nasdaq-100 jumped 1% during the session, lifting TQQQ alongside it. Tech stocks led the gains, with Tesla rebounding more than 5% following Thursday's steep drop. Market sentiment also improved after the White House downplayed tensions between Elon Musk and President Donald Trump.
Rising Treasury yields and a stronger dollar reflected expectations for continued economic strength, but it was the renewed momentum in large-cap tech that drove TQQQ's sharp advance. With the Nasdaq-100 nearing record highs, leveraged ETFs like TQQQ are benefiting from bullish bets on tech outperformance.
According to data from Benzinga Pro, TQQQ has a 52-week high of $93.78 and a 52-week low of $35.00.
References:
[1] https://www.benzinga.com/trading-ideas/movers/25/06/45822299/proshares-ultrapro-qqq-tqqq-trades-higher-on-strong-jobs-data-tech-rally
[2] https://www.nasdaq.com/press-release/defiance-launches-pltz-first-2x-short-etf-palantir-technologies-inc-2025-06-06
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