Cooler February inflation
February CPI rose 0.2% month on month and 2.8% year on year, both below estimates. Core CPI also rose 0.2% month on month and 3.1% year on year, below the respective forecasts.
Mar 12, 2025 · QQQ/SPY Market Review · 41 headlines
Cooler CPI day favors technology as QQQ gains 1.55%
QQQ gained 1.55% and SPY rose 0.85%, leaving QQQ ahead by 0.70 percentage points. Softer February headline and core CPI readings coincided with the strongest early advance. Tariff countermeasures, AI product launches, semiconductor leadership changes and large-technology regulatory news framed later trading and after-hours activity.
Published
- QQQ
- +1.55%
- SPY
- +0.85%
- QQQ − SPY
- +0.70%
What shaped the session
Tariff countermeasures
Trump said tariffs could increase exponentially and reciprocal EU tariffs would proceed. Canada announced additional 25% tariffs on C$29.8 billion of U.S. imports, while Mexico delayed retaliation as talks continued.
AI and semiconductor updates
Google released Gemma 3 and Gemini Robotics models, Microsoft weighed natural gas with carbon capture for AI data centers, and Intel named Lip-Bu Tan as chief executive.
Large-technology scrutiny
The FTC moved ahead with a broad Microsoft antitrust probe, while a UK regulator raised competition concerns over Apple and Google mobile browsers.
Key news
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