QQQ and SPY rise, with SPY narrowly ahead amid weak Michigan sentiment and an Apple order update

QQQ finished up 0.51% and SPY 0.60%, leaving SPY ahead by 0.09 percentage points. QQQ opened with the larger gain, but SPY strengthened during regular trading while QQQ eased. October Michigan consumer sentiment came in at 46.3 versus 47.8 expected, alongside a Fed survey showing heavier household debt burdens. Gulf oil shut-ins and the Russian diesel license provided contrasting fuel-supply context. Later reporting said Apple increased iPhone Duo orders while total iPhone 18 Pro series orders were unchanged, adding detail to the earlier component-cut report. Treasury Secretary Bessent also outlined a fiscal consolidation plan expected after the midterm elections.