Tariff talks, softer PMIs and chip news frame QQQ's 2.51% gain

QQQ finished 2.51% higher and SPY gained 1.79%, leaving QQQ ahead by 0.72 percentage point. Both opened with gains above 2%, then gave back part of the advance during regular trading before a modest after-hours recovery. Headlines included a conditional White House path to lower China tariffs, a slower 51.2 flash composite PMI, a cautious Fed Beige Book, Chinese demand for Nvidia H20 chips and an earnings beat from Lam Research.