Sep 20, 2025 · QQQ/SPY Market Review · 5 headlines
U.S. markets were closed for the weekend, with QQQ and SPY carrying Friday's closes. News centered on a new H-1B fee, urgent return instructions at major technology companies and a later White House clarification. A Russian fighter-jet incursion into Estonian airspace, delayed U.S. consumer-expenditure data and reported iPhone 17 production increases supplied the geopolitical, macro and consumer-technology context.
Published
A new $100,000 H-1B application fee prompted Microsoft and Google to urge overseas employees to return to the United States. The White House later said the fee was one-time and did not apply when holders of existing valid visas re-entered the country.
Russian fighter jets entered Estonian airspace, prompting NATO to scramble aircraft and Estonia to request Article 4 consultations. Donald Trump warned that the incident could mean major trouble.
Demand for the standard iPhone 17 model reportedly exceeded expectations, and Apple notified suppliers to increase production.
The Bureau of Labor Statistics delayed the 2024 Consumer Expenditure data, which help determine weights for goods and services in inflation data, without giving a reason or new timetable.
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