Jun 7, 2025 · QQQ/SPY Market Review · 8 headlines
With U.S. markets closed on Saturday, attention centered on plans for the first meeting under a China-U.S. economic and trade consultation mechanism and China's approval of compliant applications under rare-earth export controls. The U.S. government also signaled that it could examine Elon Musk's federal contracts, while Meta was reported to be negotiating a multibillion-dollar investment in Scale AI.
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China announced that He Lifeng would visit the United Kingdom for the first meeting of the China-U.S. economic and trade consultation mechanism. Its commerce ministry separately said it had approved compliant applications under controls on exports of medium and heavy rare earths.
President Trump said the government could examine Elon Musk's federal contracts as their public dispute continued. Tesla separately announced Cybertruck price reductions.
Meta was reported to be negotiating a multibillion-dollar investment in data-labeling startup Scale AI. Separately, Perplexity was developing its Comet browser as competition intensified around AI access points.
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