Direxion Daily Retail Bull 3X Shares [RETL] Stock Forecast

The machinations of a recession could already be manifesting themselves in layoffs during the month of May. The job markets for retail and tech were especially vulnerable last month.

The headline growth number of the recent retail sales report could make investors complacent. Inventories still look elevated, and we could see markdowns and gross margin pressures persist.

Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

Wall Street delivered a mixed performance last week as key tech earnings were mixed while the magnitude of Fed rate hike came in expected.

Wall Street was modestly upbeat last week. The S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 added 2.5%, 1.8%, 4.3% and 2.4% last week, respectively.

The default play for traders in 2023 may be to simply bet on sectors that were hit the hardest in 2022 and hope for a dead cat bounce. However, in a market still full of unknowns, some precaution is necessary, so here are a few leveraged exchange traded funds (ETFs) traders may want to consider.

Wall Street recorded a moderate performance last week.

It doesn't appear like inflation is stifling shoppers from heading online, particularly to Amazon. The online retailers recorded record shopping numbers over the Thanksgiving holiday in spite of the economic headwinds.

Stocks offered moderate gains last week, with the S&P 500 adding 2%, the Dow Jones advancing about 2.4% and the Nasdaq inching up just 0.7%.

The Direxion Daily Retail Bull 3X Shares (NYSE: RETL) was plunging more than 11% lower on Wednesday after Target Corporation (NYSE: TGT)