Mixed capital-spending data
June durable-goods orders fell 9.3%, less than the estimated 10.4% decline, while core durable-goods orders rose 0.2% versus 0.1% expected and core capital-goods orders fell 0.7%.
Jul 25, 2025 · QQQ/SPY Market Review · 22 headlines
SPY rises 0.48% amid mixed capital-spending data and tariff signals
SPY ended up 0.48%, ahead of QQQ's 0.36% gain by 0.12 percentage points. Durable-goods and core capital-goods data sent mixed signals about business spending. Tariff letters, rate-cut commentary and a planned U.S.-EU meeting shaped the policy backdrop. Intel's loss guidance and networking-unit separation, together with Anthropic's funding talks, supplied major technology context.
Published
- QQQ
- +0.36%
- SPY
- +0.48%
- QQQ − SPY
- -0.12%
What shaped the session
Fed and trade policy
Trump said Powell may be ready to lower rates and that nearly 200 tariff letters would be sent, while von der Leyen agreed to meet him Sunday on transatlantic trade.
Technology investment and restructuring
Intel warned of a larger-than-expected Q3 loss and planned to separate its networking unit, while Anthropic sought a valuation above $150 billion in new funding talks.
Key news
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