QQQ and SPY nearly erase opening gaps while energy policy and housing data shift the backdrop

QQQ opened 0.91% below the previous close and finished down 0.13%. SPY opened 0.68% lower and ended down 0.05%, outperforming QQQ by 0.08 percentage points. The ECB held its deposit rate at 2% for a sixth meeting. U.S. January new-home sales were 587,000 versus 722,000 expected. Energy headlines included possible relief for Iranian oil already at sea, damage to 17% of Qatar's LNG capacity, and Israel's decision to suspend strikes on Iranian energy facilities.