Inflation and rate expectations
May headline CPI rose 2.4% from a year earlier, below the 2.5% forecast. QQQ and SPY advanced 0.46% and 0.37% during the next 15 minutes, and Trump later renewed his call for a full-point rate cut.
Jun 11, 2025 · QQQ/SPY Market Review · 61 headlines
Post-CPI rise fades as QQQ and SPY close lower
QQQ finished 0.56% below its previous close and SPY lost 0.43%, leaving SPY ahead by 0.13 percentage points. Both opened higher, then fell 0.82 and 0.61 percentage points from their opens. May CPI rose 2.4% year over year, below the 2.5% forecast, and both funds advanced during the next 15 minutes. Trade updates included approval of U.S. magnet applications and Bessent's warning that China talks would take longer. Meta's reported Scale AI investment and Amazon's Prime Video advertising change added technology-company context. The State Department's decision to reduce the U.S. mission in Iraq added a late-session security development.
Published
- QQQ
- -0.56%
- SPY
- -0.43%
- QQQ − SPY
- -0.13%
What shaped the session
U.S.-China trade terms
Lutnick said China would approve U.S. magnet applications, while Bessent said trade negotiations with China would be a much longer process. A later report described a six-month limit on easier rare-earth export licensing.
Technology-company updates
Meta reportedly considered a $15 billion investment in Scale AI. Amazon was later reported to have doubled the advertising load on Prime Video.
Middle East security
The State Department said it had decided to reduce the U.S. mission in Iraq based on its latest security analysis. QQQ and SPY fell about 0.26% during the following 15 minutes after rising in the preceding period.
Key news
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