Jul 2, 2025 · QQQ/SPY Market Review · 36 headlines
QQQ and SPY finished 0.72% and 0.48% above their previous closes after opening 0.15% and 0.06% lower. The day included a 33,000 decline in ADP private payrolls versus a 99,000 increase expected, Tesla's second-quarter production and deliveries, a U.S.-Vietnam tariff agreement, and Microsoft workforce and AI-chip updates.
Published
ADP private payrolls fell by 33,000 instead of the expected 99,000 increase, while Challenger job cuts declined from the prior month. Barkin later said immigration, unemployment, inflation and trade policy remained relevant to the Fed's assessment.
The U.S.-Vietnam agreement set a 20% tariff on Vietnamese goods and 40% on transshipped goods, while Vietnam offered zero tariffs on U.S. products. Japan separately rejected purchases made solely to balance trade, and midsize U.S. firms faced an estimated $82.3 billion tariff cost.
Tesla reported 410,244 vehicles produced and 384,122 delivered in the second quarter. Microsoft announced about 9,000 affected positions and separately scaled back its in-house AI-chip ambitions after delays.
Loading the full-day price curve…
