## [# FEPI, PSI Rise on Micron Upgrade; FTXL, SHOC Surge on Intel News](/sections/news/big-tech-etfs-rise-ahead-key-economic-data)
# FEPI, PSI Rise on Micron Upgrade; FTXL, SHOC Surge on Intel News
Investors are risk on again post-rate cut and ahead of release of inflation and GDP data.
- • News
3 Updates
[  ](/authors/dj-shaw)
Mon, September 23, 2024 At 4:07 PM EDT
[DJ Shaw ](/authors/dj-shaw) | Finance Reporter | [ Follow Author ](/etf/login)
## Semiconductor ETFs gain on analyst optimism and investment rumors.
Big tech and semiconductor ETFs rose Monday, as traders looked to build on the sharp gains seen last week following the Federal Reserve’s interest rate cut.
The [**REX FANG & Innovation Equity Premium Income ETF (FEPI)**](/fepi) and [**Invesco Dynamic Semiconductors ETF (PSI)**](/psi) both advanced over 0.4% after Micron Technologies rose 2.7%. JPMorgan reiterated its overweight rating on Micron ahead of its Wednesday’s earnings, with analysts anticipating strong AI and server demand.
The [**First Trust Nasdaq Semiconductor ETF (FTXL)**](/FTXL) and the [**Strive U.S. Semiconductor ETF (SHOC)**](/shoc) both climbed about 4% following Intel-related news. Intel shares jumped after reports that Apollo Global Management proposed a multibillion-dollar investment, following Friday’s rumors of Qualcomm approaching Intel about a takeover.
The [**Consumer Discretionary Select Sector SPDR Fund (XLY)**](/xly) rose nearly 1.1% as Tesla shares gained 4.8%. Barclays reiterated its equal weight rating on Tesla, suggesting better-than-expected third-quarter delivery numbers could be positive. The [**T-Rex 2X Long Tesla Daily Target ETF (TSLT)**](/tslt) surged more than 9%.
[](/tslt)The [**iShares U.S. Aerospace & Defense ETF (ITA)**](/ita) moved up 1.4% after Boeing shares rose 2%. Boeing presented a “best and final offer” to striking union machinists, including 30% pay raises over four years, up from the previously rejected 25% increase.
[  ](/authors/jeff-benjamin)
Mon, September 23, 2024 At 2:16 PM EDT
[Jeff Benjamin ](/authors/jeff-benjamin) | Wealth Management Editor | [ Follow Author ](/etf/login)
## Investors are risk on again post-rate cut and ahead of release of inflation and GDP data.
Broad equity markets, represented by the [**SPDR S&P 500 ETF Trust (SPY)**](https://www.etf.com/SPY) and the Invesco [**QQQ Trust (QQQ)**](https://www.etf.com/QQQ), advanced Monday as investors absorbed last week’s [interest rate cut.](https://www.etf.com/sections/advisor-center/smaller-stock-etfs-iwm-ijh-gain-fed-policy)
Volatility throughout the week will depend on upcoming key economic indicators on inflation and economic growth, which will have market watchers forecasting the Fed’s next move on interest rates.
Investors are eyeing a possible unusual gain for stocks this month, which would make this the first September gain in five years, Morningstar said.
[](/spy)SPY and QQQ rallied by nearly 2% and 3%, respectively, on last Wednesday’s 50-basis point rate cut. SPY, the world's largest exchange-traded fund, has gained 2% so far this month.
The yield on the 10-year Treasury bond, which also spiked on the rate cut announcement, was hovering around 3.73% just before 2 p.m. Eastern time Monday after opening at nearly 3.8%.
Meanwhile, the [**iShares 20+ Year Treasury Bond ETF (TLT),**](https://www.etf.com/TLT) which is down 2.5% over the past five trading days, eked into positive territory Monday with a mid-day gain of 6 basis points.
[](/tlt)
[  ](/authors/kristin-myers)
Mon, September 23, 2024 At 12:17 PM EDT
[Kristin Myers ](/authors/kristin-myers) | SVP Content/EIC | [ Follow Author ](/etf/login)
## Markets rise to kick off trading week
Broad markets rose Monday shortly after noon ahead of key economic data to be released this week.
SPY, the [**SPDR S&P 500 ETF Trust**](/SPY) gained 0.3%% while DIA, the [**SPDR Dow Jones Industrial Average ETF Trust**](/DIA) inched 0.1% higher.
The Fed's preferred inflation gauge, the personal consumption expenditures index (PCE) is slated to be released on Friday morning. The inflation figure will give investors insight into the future path of rate cuts from the Fed. The more that inflation falls, the more comfortable the central bank will be to lower interest rates.
On Thursday, the Commerce Department will also release the latest data on gross domestic product (GDP). Investors are concerned that economy is slowing and may be headed for a recession—Thursday's release may fan those flames or ease investor anxieties.
Investors also took interest in small and mid-cap companies that don't belong to the group of mega-cap names that have dominated some of the gains made in the market so far this year. RSP, the [**Invesco S&P 500 Equal Weight ETF**](/RSP) edged 0.3% higher.
Tech ETFs that heavily invest in the "Magnificent Seven" also gained. QQQ, the tech-heavy [**Invesco QQQ Trust**](/QQQ) rose 0.4%. MAGS, the [**Roundhill Magnificent Seven ETF**](/MAGS) notched a 1% gain. XLY, the [**Consumer Discretionary Select Sector SPDR Fund**](/XLY) jumped 0.6%. More than 30% of the fund is comprised of [Amazon](/stock/AMZN), and [Tesla](/stock/TSLA), two Magnificent Seven companies.
[](/my-dashboard)
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-article_page_300x600_300x250');
});
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-article_page_300x600_300x250');
});
Loading
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-leaderboard_1_daily_etf_flow');
});
## Related Stories
News
[Best ETFs for H1 2026: Winners, Losers, and What to Watch](/sections/news/best-etfs-h1-2026-winners-losers-and-what-watch)
ETF.com Staff | Jun 02, 2026
News
[The Most-Compared ETFs Right Now — And What They Reveal](/sections/news/most-compared-etfs-right-now-and-what-they-reveal)
ETF.com Staff | May 28, 2026
Technology
[DRAM Leads the Race to Monetize the Memory Boom](/sections/equity/dram-leads-race-monetize-memory-boom)
ETF Zoo Podcast | May 28, 2026
Leveraged ETFs
[MUU Becomes the Fourth Single-Stock ETF to Cross $5 Billion](/sections/features/muu-becomes-fourth-single-stock-etf-cross-5-billion)
Sumit Roy | May 28, 2026
[Inflation](/topics/inflation)
[Technology](/topics/technology)
[Technology](/topics/technology-0)
### Related Media
Technology
[DRAM Leads the Race to Monetize the Memory Boom](/sections/equity/dram-leads-race-monetize-memory-boom)
ETF Zoo Podcast | May 28, 2026
Behind the Ticker
[Behind the Ticker: BCTK & Baron Capital](/sections/podcasts/behind-ticker-bctk-baron-capital)
Behind The Ticker | May 26, 2026
ETF Zoo Podcast
[ETF Zoo: Why Rebalancing Killed the ARK Star](/sections/podcasts/etf-zoo-why-rebalancing-killed-ark-star)
ETF Zoo Podcast | May 22, 2026
ETF Breakthru Connect
[The Benefits of Going Virtual With ETF Breakthru Connect](/sections/advisor-center/benefits-going-virtual-etf-breakthru-connect)
ETF.com Staff | Apr 14, 2026