Fed rate debate
Logan said inflation remained too high and separately said she opposed the latest cut. Her remarks set a high bar for another move in December.
Oct 31, 2025 · QQQ/SPY Market Review · 51 headlines
QQQ retains a 0.48% gain as Fed officials split over December policy
QQQ and SPY finished 0.48% and 0.28% above their previous closes after opening 1.29% and 0.76% higher. The session featured disagreement among Fed officials over further easing, renewed U.S.-China rare-earth tension, a better-than-expected Chicago PMI reading and Stellantis investment plans.
Published
- QQQ
- +0.48%
- SPY
- +0.28%
- QQQ − SPY
- +0.20%
What shaped the session
Corporate investment and trade pressure
Stellantis reported a 13% revenue increase and outlined a $13 billion U.S. investment. Bessent separately warned China against using rare earths as leverage.
Business activity
October Chicago PMI came in at 43.8 versus the 42.3 estimate. The reading followed an early-session decline that had already begun before publication.
Key news
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