Producer prices below estimates
December headline PPI rose 0.2% month over month versus 0.4% expected, while core PPI was unchanged versus a 0.3% estimate. The year-over-year headline and core readings also came in below estimates.
Jan 14, 2025 · QQQ/SPY Market Review · 28 headlines
Cooler producer prices meet tariff signals as SPY edges ahead
QQQ opened 0.10% above its previous close and finished up 0.07%, while SPY opened 0.06% higher and ended up 0.22%, leading by 0.15 percentage point. The day's evidence centered on below-estimate December producer prices, Federal Reserve comments on tariff risks, Trump's proposed External Revenue Service, Apple chip verification in Arizona, and Tesla Model Y reservations in China.
Published
- QQQ
- +0.07%
- SPY
- +0.22%
- QQQ − SPY
- -0.15%
What shaped the session
Tariff and policy signals
KC Fed President Jeffrey Schmid said the Fed would respond if tariffs disrupted either mandate. President-elect Trump separately announced plans for an External Revenue Service to collect tariffs and foreign-source revenue.
Technology and China demand
Apple was reported to be nearing verification of TSMC chips made in Arizona. A separate report said Tesla's refreshed Model Y received 50,000 reservations in China on its first day.
Key news
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