Fed policy path
The September minutes showed most participants expected further easing during the rest of 2025, while one participant preferred a half-point cut and most still emphasized upside inflation risk.
Oct 8, 2025 · QQQ/SPY Market Review · 30 headlines
QQQ extends its lead as Fed minutes and chip infrastructure headlines accompany a broad advance
QQQ rose 1.34% and SPY gained 0.70%, leaving QQQ 0.65 percentage points ahead. Most Fed participants expected further easing during the rest of 2025, although inflation risks remained in view. Broadcom's Tomahawk 6 shipment and late approval of Nvidia chip exports to the UAE added semiconductor context. The unresolved U.S. shutdown and the first phase of an Israel-Hamas peace plan framed the policy backdrop.
Published
- QQQ
- +1.34%
- SPY
- +0.70%
- QQQ − SPY
- +0.65%
What shaped the session
Chip infrastructure and exports
Broadcom began shipping a 102.4-terabit-per-second Tomahawk 6 switch for AI networks. Later, the U.S. reportedly approved billions of dollars of Nvidia chip exports to the UAE.
Government and geopolitical policy
The Senate again rejected both funding plans, extending the U.S. shutdown beyond a week. Overnight, Israel and Hamas agreed to the first phase of a peace plan covering hostage releases and an Israeli troop withdrawal.
Key news
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