Inflation and labor data
August CPI rose 2.9% from a year earlier, matching estimates. The monthly gain of 0.4% exceeded the 0.3% forecast, and initial jobless claims reached 263,000 versus 235,000 expected.
Sep 11, 2025 · QQQ/SPY Market Review · 51 headlines
SPY leads QQQ as inflation, labor and policy signals accompany broad gains
SPY gained 0.84% and QQQ rose 0.63%, leaving SPY ahead by 0.21 percentage points. Both finished above their opening gains. August CPI matched the annual estimate but exceeded the monthly forecast, while initial jobless claims were higher than expected. Treasury, China-chip policy and the Microsoft-OpenAI partnership supplied additional market context.
Published
- QQQ
- +0.63%
- SPY
- +0.84%
- QQQ − SPY
- -0.21%
What shaped the session
Rates and chip policy
The 30-year Treasury auction yielded 4.65%, compared with 4.81% previously. Commerce Secretary Howard Lutnick also described a 15% arrangement tied to Nvidia's China sales.
Microsoft-OpenAI partnership
Microsoft and OpenAI reached a preliminary understanding on their partnership and agreed to work toward OpenAI's restructuring.
Key news
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