SPY gains 0.13% as QQQ ends flat after a late rally on housing data and Fed minutes

QQQ and SPY opened about 0.20% lower and fell to late-morning lows before rallying to roughly 0.25% above the prior close near the end of regular trading. After-hours weakness left QQQ little changed at a 0.06% loss, while SPY retained a 0.13% gain and led by 0.20 percentage points. Building permits beat estimates while housing starts missed. The FOMC minutes supported a careful approach to rate cuts, while Apple's iPhone 16e launch and a later tariff announcement kept technology and policy themes in focus.