Jan 27, 2025 · QQQ/SPY Market Review · 18 headlines
QQQ fell 2.82% and SPY declined 1.45%, leaving the technology-heavy fund 1.37 percentage points behind. Reports that DeepSeek matched leading AI capabilities at lower cost accompanied a broad premarket technology selloff. U.S. new home sales beat expectations and the Dallas Fed manufacturing index rose to 14.1, while Nvidia later called DeepSeek an excellent advance that still required many GPUs. Overnight tariff proposals involving broad imports and Taiwan added a separate policy risk.
Published
A report that DeepSeek matched leading AI capabilities at lower cost accompanied a broad premarket selloff in Nvidia, AMD, Broadcom, SMCI and TSMC. DeepSeek later released Janus-Pro-7B, while Nvidia said the advance still required significant GPU capacity.
December new home sales reached 698K versus 669K expected, and the prior reading was revised higher. The Dallas Fed manufacturing business index rose to 14.1 from 4.5.
Canada sought coordination with the U.K., EU and Mexico against U.S. tariffs. Later reports described a universal tariff proposal starting at 2.5%, while Trump proposed tariffs on imports from Taiwan that could affect semiconductor and pharmaceutical industries.
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