Early losses fade for QQQ and SPY alongside labor, tariff and chip updates

QQQ erased a 0.49% opening decline to finish up 0.22%, while SPY recovered from a 0.35% opening drop to gain 0.39% and led by 0.17 percentage points. Consumer confidence fell to 86 and March JOLTS openings came in at 7.192 million, with both ETFs advancing after the 10:00 releases. Trade updates included an unnamed deal awaiting approval and relief from overlapping auto tariffs. Later, Super Micro's preliminary results missed expectations, while a Reuters report said the administration was considering replacing its AI-chip export tier system.