Jul 6, 2025 · QQQ/SPY Market Review · 9 headlines
U.S. markets were closed for the weekend, leaving QQQ at the prior close of 556.22 and SPY at 625.34. Trade-policy headlines included a reported limited U.S.-India agreement with an average tariff near 10%, Bessent's August 1 timing for higher tariffs without deals, and Trump's additional 10% tariff statement for BRICS-aligned countries. The U.S. also considered new AI-chip export curbs for Malaysia and Thailand, while German industrial production rose 1.2% in May against a 0.6% decline expected. Tesla fell more than 6% in overnight trading after Musk's party announcement.
Published
Weekend trade headlines spanned a reported limited U.S.-India agreement with an average tariff near 10%, Bessent's August 1 timing for higher tariffs without deals, and Trump's additional 10% tariff statement for BRICS-aligned countries.
The U.S. government considered restrictions on AI-chip exports, including Nvidia products, to Malaysia and Thailand to reduce diversion to China.
German industrial production was +1.2% month over month in May, versus -0.6% expected and a revised -1.6% previously.
Tesla shares fell more than 6% in overnight trading after Elon Musk announced the America Party on social media.
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