Nov 7, 2025 · QQQ/SPY Market Review · 47 headlines
QQQ opened 0.66% lower but finished 0.08% higher, while SPY opened 0.44% lower and ended up 0.31%. SPY led by 0.23 percentage points as both ETFs recovered from weak opens. The preliminary Michigan sentiment index fell to 50.3, its lowest since June 2022, and the shutdown prevented a second consecutive payroll report. Meta outlined more than $600 billion of U.S. investment through 2028, while Fed news covered reserve-management purchases and policy uncertainty as a financial-stability risk.
Published
Michigan sentiment fell to 50.3, its lowest since June 2022, versus 53.0 expected and 53.6 previously. In the next 15 minutes, QQQ fell 0.41 percentage points and SPY fell 0.26 with another headline nearby. Earlier, the shutdown blocked a second straight payroll report.
Meta said it would invest $600 billion in U.S. infrastructure and jobs and commit more than $600 billion through 2028. After declines in the preceding 15 minutes, QQQ rose 0.50 percentage points and SPY rose 0.39 percentage points over the next 15 minutes.
Williams said reserve-management asset purchases may restart soon as reserves near an ample but not excessive level. In the next 15 minutes, QQQ rose 0.07 percentage points and SPY rose 0.05. A later Fed report ranked policy uncertainty as the leading financial-stability risk and flagged leverage concerns.
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