Tariff countermeasures
Canada announced 25% counter-tariffs on $107 billion of U.S. goods, Mexico moved toward reciprocal measures, and the U.S. tariff package targeted the under-$800 exemption used by Chinese online retailers.
Feb 2, 2025 · QQQ/SPY Market Review · 7 headlines
Sunday news turns to tariff retaliation, chip controls and Asian policy signals
QQQ and SPY remained at Friday's carried closes while U.S. markets were closed Sunday. Canada and Mexico announced tariff countermeasures, a U.S. policy change targeted low-value Chinese e-commerce shipments, Singapore rejected a chip-routing claim involving DeepSeek, and Asian policy signals came from the Bank of Japan and China's Caixin manufacturing PMI.
Published
- QQQ
- 0.00%
- SPY
- 0.00%
- QQQ − SPY
- 0.00%
What shaped the session
AI chips and tools
Singapore denied that DeepSeek could obtain advanced Nvidia chips through the country. Separately, LinkedIn, Indeed and Greenhouse introduced AI tools intended to help job seekers assess response prospects.
Asian macro signals
Bank of Japan meeting notes kept further rate increases in view after a move to 0.5%, while China's January Caixin manufacturing PMI registered 50.1 versus a 50.6 estimate and 50.5 prior reading.
Key news
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