Trade-policy crosscurrents
A six-month Canadian tariff exemption contrasted with a reported 64% drop in U.S. import orders, highlighting both policy relief and pressure on trade flows.
Apr 15, 2025 · QQQ/SPY Market Review · 35 headlines
Small opening gains give way to 1% declines as trade and chip risks stay in focus
QQQ fell 1.13% and SPY lost 1.03%, leaving SPY ahead by 0.10 percentage points after both opened slightly higher. Tariff exemptions and weaker import demand kept trade policy in focus, while firmer New York manufacturing data and Bank of America's consumer update offered mixed domestic signals. Nvidia's new China export-license requirement and ASML's results added overnight context for the chip sector.
Published
- QQQ
- -1.13%
- SPY
- -1.03%
- QQQ − SPY
- -0.10%
What shaped the session
Mixed domestic signals
The Empire State index improved more than forecast but remained negative, while Bank of America reported stronger earnings and continued consumer spending.
Chip-sector pressure
Nvidia faced a new export-license requirement for H20-class chips, while ASML's quarterly sales missed estimates despite an earnings beat.
Key news
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