QQQ and SPY recover from afternoon lows to gain 0.37% amid mixed data and policy risk

QQQ and SPY each finished about 0.37% above the previous close after opening higher, sliding to afternoon lows and recovering after the close and overnight. QQQ edged ahead, but the difference was negligible. A stronger Empire State reading and weaker housing sentiment offered mixed growth signals. Fed officials kept restrictive policy and AI-valuation risk in view, while a post-close 25% tariff plan for autos, chips and pharmaceuticals added trade-policy uncertainty.