Nov 27, 2025 · QQQ/SPY Market Review · 15 headlines
U.S. equity markets were closed for Thanksgiving, leaving QQQ and SPY unchanged at the prior regular close. The day's main context included a weaker seasonal-jobs outlook, Apple's Indian antitrust challenge, U.S. pressure for more semiconductor investment, and new developments in the TSMC and Intel trade-secret dispute.
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The Trump administration was reported to be pressing Taiwan and TSMC to expand U.S. manufacturing and worker training. Separately, Taiwan prosecutors searched a former TSMC vice president's home amid trade-secret allegations involving Intel, which denied the claims.
A survey found that 68% of businesses reported weaker customer spending power, while U.S. seasonal jobs were expected to decline by nearly 200,000.
Apple filed in the Delhi High Court against India's new antitrust rules as it faced a potential fine of up to $38 billion. Its appeal was scheduled for December 3.
Trump said large tariff revenue could allow the United States to substantially or completely reduce income taxes over the next few years, outlining a potential shift in federal tax policy.
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