Broad gains with a midday peak
Both funds opened higher and climbed to their session peaks around 12:52 ET before giving back part of the advance. QQQ still finished 0.40 percentage points ahead of SPY.
May 8, 2025 · QQQ/SPY Market Review · 28 headlines
Trade negotiations frame broad gains as QQQ finishes ahead
QQQ and SPY opened 1.07% and 0.73% higher, reached intraday peaks of 1.92% and 1.59%, then finished up 0.97% and 0.56%. U.S.-U.K. trade terms, possible changes to China tariffs, jobless claims, and overnight AI-chip developments provided the main context, while QQQ ended 0.40 percentage points ahead of SPY.
Published
- QQQ
- +0.97%
- SPY
- +0.56%
- QQQ − SPY
- +0.40%
What shaped the session
Tariff policy in focus
The U.K. described lower U.S. auto, steel, and aluminum tariffs under its trade deal, while a later report said the U.S. was considering reducing China tariffs to 50% from 145%.
Labor and AI-chip updates
Initial jobless claims came in at 228,000 versus a 231,000 estimate and 241,000 prior reading. Overnight, Nvidia was reported to be redesigning its H20 chip for China with a July delivery target.
Key news
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