Wall Street wavered on June 5, 2025, as a highly publicized feud between President Trump and Tesla CEO Elon Musk unsettled investors. Tensions between the President and Musk reached a boiling point on Thursday, with a series of heated exchanges hitting headlines, as quoted on Yahoo Finance.
Speaking from the Oval Office, Trump expressed “disappointment” in Musk, questioning the Tesla TSLA CEO’s motives in opposing what he described as his “big, beautiful” economic bill. In response, Musk fired back on X (formerly Twitter), stating that Trump would not have won the election without his backing — a comment that reignited their already strained relationship.
Government Support at Risk
The conflict escalated as Trump suggested he might revoke federal subsidies and government contracts that benefit Musk's companies, including Tesla and SpaceX. Meanwhile, Musk declared he would consider decommissioning SpaceX's Dragon spacecraft and went as far as to endorse Trump’s impeachment — going against his previously supportive stance.
Markets Juggle Optimism and Uncertainty
The feud injects new volatility into markets already grappling with global trade concerns and mixed economic data. While investor sentiment had shown signs of cautious optimism earlier in the week — especially around the possibility of softened tariffs and a resilient economy — Thursday’s downturn again reignited market’s fragility.
ETF Areas That Won on Jun 5
However, despite the fresh political drama, markets appear to be holding steady for now. Below, we highlight a few exchange-traded fund (ETF) areas that gained on Jun 5.
Inverse Leveraged Tesla
T-REX 2X Inverse Tesla Daily Target ETF TSLZ – Up 30% on Jun 5
Tradr 2X Short TSLA Daily ETF TSLQ – Up 29.5%
Tesla shares slumped 14.3% on Jun 5, due to the above-mentioned feud.
Inverse Cryptocurrency
Defiance Daily Target 2X Short SMCI ETF SMCZ – Up 12.4%
GraniteShares 1x Short COIN Daily ETF CONI – Up 12.4%
SMCI and COIN shares lost 7.6% and 4.6%, respectively, on Jun 5, paving the way for a surge in these inverse leveraged ETFs.
Leveraged Silver
ProShares Ultra Silver AGQ – Up 6.9%
Silver prices are currently surging, driven by the metal’s wide industrial applications. The artificial intelligence (AI) boom is expected to push prices even higher, as silver is essential for high-performance GPUs used to train large language models.
Leveraged South Korea
Direxion Daily MSCI South Korea Bull 3x Shares KORU – Up 6.3%
South Korea stocks jumped on Thursday, mainly due to a strong rebound in semiconductor exports. Chip shipments soared 50.9% year over year, indicating surging global demand for memory chips and high-performance components.
Leveraged Semiconductors
GraniteShares 2x Long MU Daily ETF MULL – Up 6.7%
Investment firm Mizuho recently raised its price target on Micron MU stock. Mizuho expects Micron to outperform the rest of the market, thanks to fast-growing sales of high-bandwidth memory for AI.
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Micron Technology, Inc. (MU): Free Stock Analysis Report ProShares Ultra Silver (AGQ): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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