Jun 17, 2025 · QQQ/SPY Market Review · 53 headlines
QQQ ended 1.21% below its previous close and SPY fell 1.08%, leaving SPY ahead by 0.14 percentage points. Both opened lower, down 0.49% and 0.42%, then extended their declines during regular trading and after hours. May retail sales fell 0.9% versus a 0.7% decline expected, while core sales declined 0.3% against a 0.2% increase expected. Headlines ranged from U.S. tariff and semiconductor export policy to escalating Iran-Israel military risk. Amazon also said generative AI and agents are expected to reduce its corporate workforce over the next few years.
Published
May retail sales fell 0.9% versus a 0.7% decline expected, and core sales declined 0.3% against a 0.2% increase expected. Industrial production also declined in May. The selected releases were followed by small and mixed 15-minute moves.
Iran launched missiles toward Israel, Germany's chancellor said the United States was weighing participation in strikes on Iran, and Israel later reported attacks on Iranian centrifuge and missile sites with more than 50 jets. The first two selected reports were each followed by modest declines in QQQ and SPY.
President Trump said the European Union had not offered a fair deal and questioned aspects of a potential agreement with Japan. The administration was also reported to have considered broader controls on semiconductor equipment exports to China before the London talks.
Amazon said the rollout of generative AI and agents is expected to reduce its corporate workforce over the next few years, a direct company signal about how automation may reshape staffing.
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