Stock Movers: US Steel, Walmart, TQQQ
On this episode of Stock Movers: - ProShares UltraPro QQQ fund (TQQQ) had its best rally in the most recent session, the largest inflow in its 15-year history. TQQQ uses derivatives to deliver three times the daily performance of the Nasdaq 100. Traders have been steadily adding to the ETF all year. Altogether, the fund has taken in more than $3 billion despite a 15% year-to-date drop for the Nasdaq 100 and an even greater drubbing for TQQQ itself. - Walmart (WMT) and other retail stocks soared after President Donald Trump said he'll pause higher tariffs for 90 days for dozens of nations that haven't imposed retaliatory measures on the US. Walmart executives are confident that the world's largest retailer will reach its financial targets this year, despite tariff turbulence that's sparking uncertainty in the world economy. On Wednesday, Walmart said that it still sees net sales growing 3% to 4% this year. That forecast accounts for tariffs, unlike its previous outlook from February. - United States Steel (X) shares tumbled as much as 16% in post-market trading after President Donald Trump said he does not want to see the steelmaker owned by a Japanese company. Trump, speaking from the Oval Office, pointed to the producer's rising steel orders as evidence that it doesn't need any investment right now. He also said he doesn't want US Steel bought by 'any other place,' apparently referring to other foreign buyers.
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