Jun 9, 2025 · QQQ/SPY Market Review · 26 headlines
QQQ finished 0.22% above its previous close and SPY gained 0.12%, leaving the technology-heavy fund ahead by 0.09 percentage points after a quiet, uneven session. U.S.-China trade talks opened in London with rare-earth export controls in focus. Technology news included Qualcomm's $2.4 billion Alphawave acquisition, Meta's possible investment of more than $10 billion in Scale AI, and Apple opening its foundation models to developers at WWDC. Wholesale data were mixed, while New York Fed one-year consumer inflation expectations fell to 3.2% from 3.6%.
Published
The first meeting of the new U.S.-China economic and trade consultation mechanism began in London. White House adviser Kevin Hassett said the United States sought a rare-earth agreement and expected export controls to ease, while the talks were set to continue Tuesday.
Qualcomm agreed to acquire Alphawave Semi for $2.4 billion, Meta considered investing more than $10 billion in Scale AI, and Amazon announced $20 billion for two Pennsylvania data-center campuses. Apple also opened its foundation-model framework to third-party developers at WWDC.
April wholesale inventories rose 0.2% against a 0.0% estimate, while wholesale trade sales rose 0.1% after a 0.8% prior reading. The New York Fed's one-year consumer inflation expectation fell to 3.2% from 3.6%, and the Conference Board Employment Trends Index was 107.49 versus a revised 108 prior reading.
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