Mixed Michigan readings
One-year inflation expectations were 6.5%, below the 6.7% estimate but above the 5.0% prior reading, while consumer sentiment at 52.2 beat the 50.8 estimate but remained below 57 previously.
Apr 25, 2025 · QQQ/SPY Market Review · 40 headlines
QQQ gains 1.21% as Michigan data and tariff developments shape trading
QQQ ended 1.21% higher and SPY gained 0.83%, leaving QQQ ahead by 0.38 percentage point. Both opened close to the prior close, then advanced during regular trading and held most gains after hours. The day's context included mixed Michigan inflation and sentiment readings, tariff costs reaching retail prices, Apple's India supply-chain shift and Alphabet's disclosure that AI generated more than 30% of its code.
Published
- QQQ
- +1.21%
- SPY
- +0.83%
- QQQ − SPY
- +0.38%
What shaped the session
Tariff costs and supply shifts
Price comparisons showed tariff costs reaching Amazon, Temu and Shein customers, while Apple planned to source most U.S.-sold iPhones from India by 2026 and double Indian output to 80 million units.
Alphabet's AI adoption
Alphabet said AI was generating more than 30% of the company's code, adding a concrete operating metric to its earnings update.
Key news
Loading the full-day price curve…