ProShares UltraPro QQQ (TQQQ), a leveraged ETF tracking the Nasdaq-100 Index, soared 6.26% in intraday trading on Tuesday, significantly outpacing the broader market recovery. The impressive gain in TQQQ, which aims to deliver triple the daily performance of the Nasdaq-100, reflects a strong resurgence in investor confidence for technology and growth stocks.

The remarkable rebound follows a tumultuous period in the markets, with major indexes experiencing sharp declines in recent sessions. Investors appear to be regaining optimism despite ongoing uncertainties surrounding Federal Reserve policy and recent criticisms from President Donald Trump directed at Fed Chair Jerome Powell. The market's positive turn was further bolstered by encouraging news on the trade front, as US Treasury Secretary Scott Bessent hinted at a possible de-escalation in the tariff standoff with China during a closed-door investor summit.

As traders digest these developments and look ahead to key economic indicators, including the Richmond Fed's manufacturing survey and speeches from several Fed officials, the surge in TQQQ suggests that investors are becoming increasingly bullish on tech stocks. However, market participants remain cautious given the recent volatility triggered by geopolitical tensions and economic policy uncertainties. The performance of TQQQ in the coming sessions will likely depend on how these factors unfold and impact the broader tech-heavy Nasdaq index.