U.S. data
Initial and continuing jobless claims were below estimates, manufacturing PMI beat the estimate but remained below its prior reading, and construction spending was flat.
Jan 2, 2025 · QQQ/SPY Market Review · 23 headlines
QQQ finished up 0.12% while SPY was essentially flat, leaving QQQ ahead by 0.16 percentage points. Both opened higher, fell sharply during regular trading and recovered after hours and overnight. U.S. labor and manufacturing data, Tesla quarterly deliveries, crude inventories and the net neutrality ruling formed the main context.
Published
Initial and continuing jobless claims were below estimates, manufacturing PMI beat the estimate but remained below its prior reading, and construction spending was flat.
Tesla reported 459,445 vehicles produced and 495,570 delivered in the fourth quarter as its shares remained a major QQQ focus.
The 1.178 million-barrel crude draw was smaller than the 2.4 million-barrel decline expected, adding an energy-market data point to the session.
A federal appeals court blocked the attempted restoration of net neutrality rules, creating a policy update for major communications companies.
Loading the full-day price curve…