Inflation and rate path
June CPI rose 2.7% from a year earlier versus a 2.6% forecast, while core CPI readings were slightly below estimates. Trump separately called for the Fed to cut rates by 3 points.
Jul 15, 2025 · QQQ/SPY Market Review · 45 headlines
Hot CPI and rate pressure accompany a flat QQQ and 0.60% SPY decline
QQQ opened 0.74% above the prior close but lost 0.67 percentage points during regular trading and another 0.17 points after hours to finish essentially flat. SPY opened 0.44% higher and ended down 0.60%, leaving QQQ ahead by 0.53 points. June CPI rose 2.7% from a year earlier, above the 2.6% forecast, while Trump called for a 3-point rate cut. Trade and technology headlines included a U.S.-Indonesia tariff deal at 19%, AMD's planned resumption of MI308 exports to China, and a reported Microsoft program security risk.
Published
- QQQ
- -0.08%
- SPY
- -0.60%
- QQQ − SPY
- +0.53%
What shaped the session
Trade and chip access
The U.S.-Indonesia agreement reduced the planned tariff from 32% to 19%. AMD was also reported to be resuming MI308 AI-chip exports to China.
Technology security
ProPublica reported that a little-known Microsoft program could expose the U.S. Defense Department to Chinese hackers, adding a concrete security concern to the day's technology news.
Key news
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