North American tariff policy
The White House said Mexican goods compliant with the USMCA would be exempt from the new tariffs until April 2.
Mar 6, 2025 · QQQ/SPY Market Review · 53 headlines
QQQ lags as tariff and Fed signals shift, Broadcom rises after hours
QQQ fell 2.33% and SPY lost 1.49%, leaving QQQ behind by 0.84 percentage points. The session included a temporary USMCA tariff exemption for Mexican goods, lower-than-expected initial jobless claims, cautious inflation and rate comments from Fed officials, and Broadcom results after the close.
Published
- QQQ
- -2.33%
- SPY
- -1.49%
- QQQ − SPY
- -0.84%
What shaped the session
Labor data and Fed signals
Initial jobless claims were 221,000 versus 235,000 expected. Harker warned that disinflation was at risk, while Waller said the case for rate cuts remained but more evidence was needed.
Technology underperformance and Broadcom earnings
QQQ finished 0.84 percentage points behind SPY. After the close, Broadcom reported adjusted EPS of $1.60 and sales of $14.916 billion, both above estimates.
Key news
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