QQQ falls 0.57% while SPY edges higher, with GPT-5.2 and Broadcom in focus

QQQ and SPY opened 0.49% and 0.33% lower, respectively. By the end of overnight trading, QQQ was down 0.57% while SPY had gained 0.13%, leaving SPY ahead by 0.70 percentage point. Initial jobless claims came in at 236,000 versus 220,000 expected, continuing claims were 1.838 million versus 1.950 million expected, and the September trade deficit narrowed to $52.8 billion against a $62.5 billion estimate. AI headlines included Disney’s $1 billion OpenAI investment, the GPT-5.2 launch, and limits on Nvidia H200 shipments to approved Chinese customers. Broadcom later reported better-than-expected quarterly results and above-consensus sales guidance.