Trade negotiation signals
Treasury Secretary Scott Bessent said major trading partners had offered proposals to avert tariffs and that U.S. agencies were in contact with China.
Apr 28, 2025 · QQQ/SPY Market Review · 38 headlines
SPY edges QQQ in a near-flat finish amid trade and chip news
QQQ finished essentially flat at -0.02%, while SPY edged up 0.08% and led by 0.10 percentage points. Trade-negotiation signals and China-related chip pressure accompanied several intraday turns, while the Dallas Fed manufacturing index weakened to -35.8. After hours, IBM announced a $150 billion U.S. investment plan and the Treasury raised its second-quarter borrowing estimate to $514 billion.
Published
- QQQ
- -0.02%
- SPY
- +0.08%
- QQQ − SPY
- -0.10%
What shaped the session
China chip pressure
Reports said Huawei had developed an AI chip to challenge Nvidia, while HSBC estimated AMD would take an $800 million charge tied to China export restrictions.
Manufacturing weakness
The Dallas Fed manufacturing business activity index fell to -35.8 in April from -16.3 previously.
After-hours capital plans
IBM committed to a $150 billion U.S. investment plan, and the Treasury lifted its April-to-June net borrowing estimate to $514 billion from $123 billion.
Key news
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