Cooling labor demand
December JOLTS job openings fell to 7.600M, below the 8.010M estimate and 8.156M prior reading. QQQ and SPY both advanced during the 15 minutes after the release amid two nearby data headlines.
Feb 4, 2025 · QQQ/SPY Market Review · 33 headlines
QQQ opened 0.27% higher and finished up 0.90%. SPY opened 0.08% higher and ended up 0.44%, leaving QQQ ahead by 0.46 percentage points. Below-forecast JOLTS openings accompanied gains after the release, while tariff retaliation and Iran policy kept geopolitical risks in view. Palantir's AI-demand rally and post-close Alphabet and AMD results kept technology headlines prominent.
Published
December JOLTS job openings fell to 7.600M, below the 8.010M estimate and 8.156M prior reading. QQQ and SPY both advanced during the 15 minutes after the release amid two nearby data headlines.
Reports said China targeted Google, Nvidia and Intel as U.S. tariffs took effect. President Trump also signed a memorandum restoring pressure on Iran and asserted a U.S. right to block Iranian oil sales.
Palantir shares rose 17.3% in premarket trading as its chief executive highlighted demand for the company's AI software. Nvidia's Blackwell platform also became generally available through new CoreWeave cloud instances.
Alphabet reported Q4 2024 GAAP EPS of $2.15 against a $2.12 estimate, while sales of $96.469B missed the $96.649B estimate. AMD reported Q4 adjusted EPS of $1.09 and sales of $7.66B, both above estimates.
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