Manufacturing data
China's Caixin PMI was 50.5 versus a 51.6 estimate and 51.5 prior, while France at 41.9 and Germany at 42.5 matched estimates but trailed prior readings.
Jan 1, 2025 · QQQ/SPY Market Review · 8 headlines
Holiday focus shifts to soft factory data and megacap competition
U.S. markets were closed for New Year's Day, so QQQ and SPY held at Tuesday's carried closes with neither leading. The day's updates instead included weaker manufacturing readings in China and Europe, Nvidia's $1 billion AI investment footprint, BYD's 509,440-vehicle December tally, Apple's China discounting, and two security developments.
Published
- QQQ
- 0.00%
- SPY
- 0.00%
- QQQ − SPY
- 0.00%
What shaped the session
Megacap competition
Nvidia invested $1 billion across 50 startup rounds, BYD reported 509,440 December vehicles with nearly 50% growth, and Apple discounted iPhone 16 models in China by up to $68.50.
Holiday security
The Cybertruck explosion was attributed to fireworks or an explosive device rather than a design flaw, while the New Orleans attack investigation cited 15 deaths, 30 injuries, explosives, and possible accomplices.
Key news
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