Oct 28, 2025 · QQQ/SPY Market Review · 41 headlines
QQQ gained 0.86%, outpacing SPY's 0.30% rise by 0.57 percentage point. Microsoft and OpenAI restructured their partnership, while Nvidia announced a Nokia investment and projected $500 billion of Blackwell and Rubin business. U.S. consumer confidence beat estimates, and later announcements covered seven new Energy Department and Nvidia AI supercomputers alongside Nvidia's exclusion from China's AI-chip market.
Published
Microsoft and OpenAI reset their commercial relationship, Nvidia invested $1 billion in Nokia, the Energy Department and Nvidia planned seven AI supercomputers, and Nvidia projected $500 billion of Blackwell and Rubin business over six quarters.
The Conference Board consumer confidence index rose to 94.6 in October, above the 93.4 estimate.
Nvidia said it was shut out of China and that its share of the country's AI-chip market had fallen to zero.
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