Fed governance
President Trump announced the immediate dismissal of Fed Governor Lisa Cook. Cook later said he lacked authority to remove her and that she would not resign.
Aug 25, 2025 · QQQ/SPY Market Review · 27 headlines
Midday highs give way to a 0.29% QQQ loss and a 0.36% SPY decline
QQQ fell 0.29% and SPY lost 0.36%, leaving QQQ ahead by 0.07 percentage points after both retreated from midday highs. July new-home sales beat estimates even as the monthly rate fell 0.6%. Nvidia launched Jetson AGX Thor, while U.S. policy news spanned furniture tariffs, the cancellation of $7.4 billion in semiconductor research funding, and the overnight announcement dismissing Fed Governor Lisa Cook.
Published
- QQQ
- -0.29%
- SPY
- -0.36%
- QQQ − SPY
- +0.07%
What shaped the session
Mixed U.S. data
July new-home sales reached 652,000 versus 635,000 expected, while the monthly rate fell 0.6% and the Dallas Fed manufacturing index slipped to -1.8.
AI robotics
Nvidia launched the Jetson AGX Thor robotics platform with 7.5x more AI power, and Amazon and Meta were named among early adopters.
Trade and chip policy
Washington added furniture tariffs to a lumber security review and canceled a $7.4 billion semiconductor-research program, while later statements raised additional tariff and chip-export risks.
Key news
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