Feb 24, 2025 · QQQ/SPY Market Review · 27 headlines
QQQ opened 0.47% above its previous close but ended 1.13% lower, while SPY moved from a 0.53% opening gain to a 0.32% decline. That left QQQ 0.81 percentage points behind SPY. Reports of Microsoft data-center lease cancellations raised AI-capacity questions, although the company said its $80 billion infrastructure plan remained on track. The Chicago Fed national activity index fell to -0.03 from 0.18 and the Dallas Fed manufacturing index slowed to 8.300 from 14.100. Apple announced $500 billion of U.S. investment, while tariff statements and stronger reported demand for Nvidia H20 chips remained in view after the close.
Published
Microsoft was reported to have canceled several data-center leases, then said its $80 billion infrastructure spending plan remained on track. Overnight, Tencent, Alibaba and ByteDance reportedly increased orders for Nvidia H20 chips.
The Chicago Fed national activity index was -0.03 in January versus 0.18 previously, while the Dallas Fed manufacturing index was 8.300 in February versus 14.100 previously.
Trump reportedly warned drugmakers to move production to the United States or face tariffs and later reaffirmed planned Canada and Mexico tariffs. Apple said it would invest $500 billion in the United States over four years and create 20,000 jobs.
Loading the full-day price curve…
