Manufacturing activity
The New York Empire State Manufacturing Index was -8.7 in September, below the 4.3 estimate.
Sep 15, 2025 · QQQ/SPY Market Review · 35 headlines
QQQ rises 0.83% and leads SPY amid Tesla, AI and U.S.-China policy updates
QQQ gained 0.83% and SPY rose 0.50%, leaving the technology-heavy fund ahead by 0.33 percentage points. The day featured Elon Musk’s Tesla share purchase, an Nvidia antitrust probe in China, a U.S.-China TikTok framework, softer New York manufacturing data, and new AI infrastructure and software announcements.
Published
- QQQ
- +0.83%
- SPY
- +0.50%
- QQQ − SPY
- +0.33%
What shaped the session
U.S.-China technology policy
China opened a further antitrust investigation into Nvidia, while U.S. and Chinese negotiators reported a framework for TikTok.
Tesla insider purchase
A Form 4 showed Elon Musk purchased 2,568,732 Tesla shares at an average price of $389.28.
AI infrastructure and software
Nvidia agreed to buy CoreWeave capacity unused by other customers, and OpenAI released GPT-5-Codex.
Key news
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