Consumer confidence
The Conference Board consumer-confidence index fell 7 points to 98.3, while the Expectations Index dropped 9.3 points to 72.9.
Feb 25, 2025 · QQQ/SPY Market Review · 36 headlines
QQQ falls 0.81% and trails SPY as consumer confidence and chip policy dominate
QQQ fell 0.81% while SPY declined 0.20%, leaving QQQ 0.60 percentage points behind. Consumer confidence dropped to 98.3 and the Expectations Index to 72.9. Tighter China chip restrictions stayed in focus alongside Apple's planned role as TSMC Arizona's largest customer. After regular trading, a copper-tariff investigation and a reported $200 billion Meta data-center plan extended the policy and AI-spending themes.
Published
- QQQ
- -0.81%
- SPY
- -0.20%
- QQQ − SPY
- -0.60%
What shaped the session
Chip policy and capacity
Potentially tighter U.S. chip restrictions on China kept policy risk in view, while Apple's expected role as TSMC Arizona's largest customer highlighted domestic capacity demand.
Copper tariff policy
A Commerce Department investigation into possible copper import tariffs extended trade-policy uncertainty to a widely used industrial input.
AI infrastructure spending
Meta reportedly planned a $200 billion data-center project, keeping the scale and capital intensity of AI investment in focus overnight.
Key news
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