Mixed macro data
March retail sales rose 1.4%, the strongest monthly gain since January 2023, while industrial production fell 0.3% against a 0.2% estimated decline.
Apr 16, 2025 · QQQ/SPY Market Review · 39 headlines
Chip restrictions and Fed tariff warnings frame a 2.94% QQQ fall
QQQ fell 2.94% and SPY lost 2.17%, leaving SPY ahead by 0.77 percentage points. Stronger retail sales but weaker industrial production, new chip-export constraints, soft ASML bookings, and Powell's warning about tariff effects framed the session. Taiwan Semiconductor then reported better-than-estimated quarterly results during overnight trading.
Published
- QQQ
- -2.94%
- SPY
- -2.17%
- QQQ − SPY
- -0.77%
What shaped the session
Chip-sector pressure
Nvidia's H20 restrictions caught major China buyers off guard and brought a $5.5 billion charge, while ASML reported weak bookings. Taiwan Semiconductor later posted quarterly earnings and sales above estimates.
Tariff and Fed tension
Powell said tariff increases were much larger than anticipated and could bring higher inflation and slower growth, sharpening the policy trade-off facing the Fed.
Key news
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