Core inflation cools
December core CPI rose 3.2% from a year earlier and 0.2% from November. Both readings were below estimates of 3.3% and 0.3%. Headline CPI matched estimates at 2.9% year over year and 0.4% month over month.
Jan 15, 2025 · QQQ/SPY Market Review · 31 headlines
Core inflation cools as QQQ climbs 2.43% and outpaces SPY
QQQ opened 0.38% above its previous close and finished up 2.43%, while SPY opened 0.35% higher and ended up 1.97%. QQQ led by 0.46 percentage point. The day's evidence centered on softer-than-estimated core CPI, strong bank results, prospective crypto regulation changes, and semiconductor and AI developments.
Published
- QQQ
- +2.43%
- SPY
- +1.97%
- QQQ − SPY
- +0.46%
What shaped the session
Banks and policy signals
JPMorgan's quarterly revenue and profit beat expectations, while Goldman Sachs posted record equities-trading revenue. A separate Reuters report said the incoming SEC leadership was preparing cryptocurrency regulatory changes.
Chips and AI developments
Reports said Nvidia cut some Taiwan Semiconductor advanced-packaging orders, while Google signed an agreement to bring AP content to Gemini. During overnight trading, Taiwan Semiconductor reported quarterly earnings and revenue above estimates.
Key news
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