U.S. business activity
S&P Global's March composite PMI rose to 53.5 from 51.6 as services reached 54.3 versus a 51.2 estimate, while manufacturing fell to 49.8 versus a 51.9 estimate and 52.7 prior.
Mar 24, 2025 · QQQ/SPY Market Review · 37 headlines
QQQ gains 1.95%, with services strength and industrial policy in focus
QQQ rose 1.95% and SPY gained 1.75%, leaving QQQ ahead by 0.20 percentage points after opening 1.43% and 1.20% higher. U.S. services and composite PMIs strengthened while manufacturing slipped below 50. Tariff announcements, Hyundai's U.S. investment plans and a prospective OPEC+ output increase framed the session.
Published
- QQQ
- +1.95%
- SPY
- +1.75%
- QQQ − SPY
- +0.20%
What shaped the session
Tariffs and industrial investment
Trump said tariffs on autos, aluminum and pharmaceuticals would be announced soon. He also described Hyundai's steel plant as part of a $21 billion U.S. investment with annual capacity above 2.7 million metric tons.
Energy supply plans
OPEC+ was expected to proceed with a planned May oil-output increase, while Hyundai's chairman said the company would purchase $3 billion of U.S. LNG.
Key news
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