QQQ edges down 0.06% but leads SPY as jobs, PMI and Fed signals unfold

QQQ opened 0.12% lower and finished down 0.06%. SPY opened 0.08% lower and ended down 0.45%, leaving QQQ ahead by 0.39 percentage points. A mixed labor and retail data cohort, a softer-than-expected manufacturing PMI, oil below $55, and competing signals on the rate outlook provided the day's main context. The largest measured 15-minute move followed the PMI release, when QQQ rose 0.51% and SPY gained 0.32%, while reactions around the other selected updates were smaller.