Fed easing outlook
Bowman said a July rate cut could be considered if inflation remains contained and argued that policymakers should give more weight to downside labor-market risks.
Jun 23, 2025 · QQQ/SPY Market Review · 55 headlines
QQQ rises 1.69% as rate-cut signals meet shifting Iran headlines
QQQ gained 1.69% and SPY rose 1.52%, leaving QQQ ahead by 0.16 percentage points. Fed Governor Michelle Bowman opened the door to a July rate cut if inflation stays contained, while U.S. composite PMI and existing-home sales topped estimates. Reports of Iranian missiles targeting a U.S. base in Qatar coincided with an intraday reversal, and President Trump later announced a complete Israel-Iran ceasefire after the close.
Published
- QQQ
- +1.69%
- SPY
- +1.52%
- QQQ − SPY
- +0.16%
What shaped the session
U.S. activity data
The June U.S. composite PMI registered 52.8 against a 52.2 estimate, while May existing-home sales reached an annualized 4.03 million versus 3.96 million expected.
Iran conflict shift
The day moved from reports of Iranian missiles aimed at a U.S. base in Qatar to Trump's after-hours announcement that Israel and Iran had agreed to a complete ceasefire.
Key news
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