Soft housing and Fed watch
May new-home sales came in at 623,000 versus 694,000 expected. Powell said the inflation effect of tariffs could be larger or smaller than anticipated and that officials were watching measured inflation.
Jun 25, 2025 · QQQ/SPY Market Review · 48 headlines
QQQ edges ahead as home sales miss and Micron guides higher
QQQ finished up 0.25% and SPY gained 0.05%, leaving QQQ ahead by 0.20 percentage points. Both opened higher, reached morning highs, and then surrendered most of those gains during the regular session. May new-home sales missed estimates, while Powell said officials were watching how tariffs appear in measured inflation. EU tariff warnings and Intel restructuring plans added policy and technology context. After the close, Micron beat quarterly expectations and issued above-estimate guidance.
Published
- QQQ
- +0.25%
- SPY
- +0.05%
- QQQ − SPY
- +0.20%
What shaped the session
Semiconductor company updates
Intel outlined layoffs, an automotive exit, and marketing outsourcing. After the close, Micron reported better-than-expected quarterly EPS and sales and issued fourth-quarter guidance above estimates.
Transatlantic tariff risk
The EU warned that continued U.S. baseline tariffs would prompt countermeasures, keeping the July 9 trade-talk deadline in focus.
Key news
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