Official U.S. CPI releaseThu, Dec 18November 2025
QQQ / SPY · Complete month
December 2025
Replay December 2025 through QQQ/SPY closing paths, intraday turns, recurring news themes, and every daily curve.
- Review days
- 31
- Trading days
- 22
- News
- 828
- Recurring news themes
- 6
Dec 1, 2025 — Dec 31, 2025
Monthly performance
QQQ ended at -0.80% and SPY at -0.23% from the previous regular close before the month.
Monthly change runs from the final trading-day close before the month to the final trading-day close of the month. Each point on the chart is a trading-day close.
Sessions worth replaying
Strongest QQQ sessionStrongest SPY session
QQQ finishes 1.43% higher, outpacing SPY amid macro and AI headlines
QQQ opened 0.89% higher and finished up 1.43%. SPY opened 0.47% higher and ended up 0.75%, leaving QQQ ahead by 0.68 percentage points. The Philadelphia Fed index, CPI and jobless-claims releases provided the main macro context, while Micron and OpenAI supplied semiconductor and AI updates. Among the selected updates, the largest measured 15-minute move followed the Philadelphia Fed release, when QQQ rose 0.56% and SPY gained 0.38%. CPI and jobless-claims figures arrived within the next two minutes.
2 session driversMacro release cluster5 key headlinesPhiladelphia Fed Manufacturing Index (Dec) -10.2 Vs 2.5 Est.
Regular session · Close 16:00 ET
QQQ+1.46%
SPY+0.76%
Weakest QQQ sessionLargest QQQ–SPY divergence
Chip incentives, Fed divisions and geopolitical news mark a 2.04% QQQ decline
QQQ and SPY opened 0.45% and 0.06% lower. By the end of overnight trading, QQQ was down 2.04% and SPY had fallen 1.06%, leaving QQQ behind by 0.99 percentage point. Bloomberg reported that China was preparing up to $70 billion in chip-sector incentives. Fed speakers differed on labor and inflation risks, while Goolsbee explained his dissent from the latest cut. Trump later named Warsh and Hassett as potential Fed leaders and said rates should be 1% or lower in a year. The Wall Street Journal also reported that U.S. forces seized cargo headed from China to Iran.
3 session driversChina chip incentives5 key headlinesBloomberg Reported China Prepares Up To $70B In Chip Sector Incentives
Regular session · Close 16:00 ET
QQQ-1.92%
SPY-1.08%
Weakest SPY session
SPY outperforms as QQQ retreats 1.47% amid Venezuela and chip updates
QQQ opened 0.31% higher and finished down 1.47%. SPY opened 0.26% higher and ended down 0.89%, leaving SPY ahead by 0.58 percentage points. Venezuela oil restrictions, Fed policy remarks, China's AI-chip program, and Micron's fiscal Q1 revenue and spending plans provided the main context. The largest measured 15-minute move among the selected updates followed the China-chip report, when QQQ fell 0.48% and SPY declined 0.29%. Several oil-inventory releases also arrived during the same period.
3 session driversVenezuela oil risk5 key headlines'How China Built Its 'Manhattan Project' To Rival The West In AI Chips' - Reuters Exclusive
Regular session · Close 16:00 ET
QQQ-1.86%
SPY-1.12%
Strongest intraday rebound
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.
3 session driversLabor and trade data5 key headlinesUSA Initial Jobless Claims 236K Vs 220K Est.
Regular session · Close 16:00 ET
QQQ-0.32%
SPY+0.23%
Calmest session
QQQ and SPY edge lower amid China-policy and Ukraine-deal updates
QQQ opened 0.10% higher but finished 0.12% lower, while SPY opened 0.01% higher and ended 0.07% lower. SPY outperformed QQQ by 0.05 percentage points. Chinese hard-technology funding and defense-company sanctions, together with two Ukraine-negotiation updates, provided the day's main context. The selected headlines were followed by moves of less than 0.10% in both ETFs over the next 15 minutes.
2 session driversChina policy and risk4 key headlinesChina Sanctions Boeing, Northrop, Anduril Founder
Regular session · Close 16:00 ET
QQQ-0.01%
SPY-0.02%
Busiest news day
SPY gains 0.39% as Fed and AI signals frame QQQ's lag
QQQ and SPY opened 0.03% and 0.07% higher, respectively. By the end of overnight trading, QQQ was down 0.05% while SPY had gained 0.39%, leaving SPY ahead by 0.44 percentage point. The Fed cut its key overnight rate by 25 basis points and announced $40 billion of Treasury purchases over 30 days. Powell said the policy debate was between holding rates and cutting further, with hikes outside the base case. Separate AI headlines highlighted a high cybersecurity-risk assessment for new OpenAI models and Oracle's $523 billion backlog alongside a planned $15 billion increase in 2026 capital spending.
3 session driversFed easing and liquidity5 key headlinesFed Cuts Key Overnight Rate by 25 Basis Points
Regular session · Close 16:00 ET
QQQ+0.40%
SPY+0.65%
Recurring news themes
See which themes kept returning during the month and how many review days they appeared in.
01Google
AI
191 related news items · 29 review days
17.4%+1.9 pp vs prior 3 months
02Semiconductors
121 related news items · 28 review days
11.0%+2.1 pp vs prior 3 months
03China
82 related news items · 26 review days
7.5%-0.9 pp vs prior 3 months
0480 related news items · 26 review days
7.3%+2.5 pp vs prior 3 months
05Nvidia
76 related news items · 26 review days
6.9%+1.4 pp vs prior 3 months
06FOMC
84 related news items · 25 review days
7.7%-1.3 pp vs prior 3 months
Topic counts are descriptive coverage measures. They do not measure price impact.
CPI
Official event-study dates
All daily reviews
Trading days show QQQ/SPY closing moves alongside the day’s news. Market-closed dates keep their news timelines.
Mixed factory data accompany narrower losses as QQQ outpaces SPY
QQQ and SPY opened 0.94% and 0.66% below their previous closes, then pared losses. QQQ finished down 0.30%, ahead of SPY's 0.49% decline by 0.18 percentage points. A stronger S&P Global manufacturing reading and a softer ISM print framed the session's factory signals, while Taiwan tariff negotiations and Nvidia's Synopsys investment added semiconductor-policy context.
3 session driversManufacturing signals4 key headlinesUSA S&P Global Manufacturing PMI For November 52.2 Vs 51.9 Est
Regular session · Close 16:00 ET
QQQ-0.33%
SPY-0.46%
AI infrastructure headlines frame a stronger QQQ advance
QQQ and SPY opened 0.38% and 0.26% above their previous closes. QQQ finished up 0.90%, ahead of SPY's 0.31% gain by 0.59 percentage points. Nvidia's chip-booking outlook and Amazon's Trainium 3 launch provided AI-infrastructure context, while the OECD growth update, SEC rule plans and Marvell's Celestial AI acquisition broadened the day's policy and corporate backdrop.
4 session driversGrowth outlook5 key headlinesAmazon unveils Trainium 3 and four Nova 2 models
Regular session · Close 16:00 ET
QQQ+0.79%
SPY+0.18%
Services strength offsets weak hiring as SPY ends ahead
QQQ and SPY opened 0.27% and 0.29% above their previous closes. They finished up 0.15% and 0.30%, leaving SPY ahead by 0.15 percentage points. A 32,000 decline in ADP employment contrasted with an ISM services reading of 52.6. Micron's Crucial exit, Marvell's revenue outlook, Nvidia-related export policy and Amazon's Trainium scale added semiconductor and AI context.
4 session driversMixed U.S. data6 key headlinesADP Nonfarm Employment Change (Nov) -32K Vs +5K Est.
Regular session · Close 16:00 ET
QQQ+0.25%
SPY+0.33%
QQQ closes flat as claims surprise and chip policy stays active
QQQ opened essentially flat and ended down 0.01%. SPY opened 0.09% higher and finished up 0.13%, leading QQQ by 0.13 percentage points. Initial jobless claims fell to 191,000 versus 220,000 expected, while Challenger job cuts dropped to 71.321K from 153.074K. Meta budget and antitrust developments, Microsoft pricing, and Nvidia and AMD China-chip policy added company context.
4 session driversLabor signals6 key headlinesUS weekly initial jobless claims were 191,000 versus 220,000 forecast and 218,000 prior
Regular session · Close 16:00 ET
QQQ-0.11%
SPY+0.07%
PCE and sentiment readings accompany gains led by QQQ
QQQ opened 0.26% higher and finished up 0.41%. SPY opened 0.18% higher and ended up 0.23%, leaving QQQ ahead by 0.18 percentage points. Core PCE inflation was 2.8% year over year versus a 2.9% forecast, while preliminary consumer sentiment reached 53.3 versus 52 expected. U.S.-China talks, European digital regulation, and Meta's acquisition of LimitlessAI added policy and company context.
3 session driversInflation readings6 key headlinesEU Fines Elon Musk's X Platform €120 Million
Regular session · Close 16:00 ET
QQQ+0.41%
SPY+0.18%
Weekend focus turns to Meta hardware, custom chips and memory costs
U.S. markets were closed for the weekend, leaving QQQ and SPY at Friday's closing levels. Meta delayed its Phoenix mixed-reality glasses to 2027 and acquired AI-wearables startup Limitless. Microsoft was reported to be discussing custom chips with Broadcom, while Apple chip chief Johny Srouji was reportedly considering leaving. DDR4x spot prices had risen more than fourfold year to date, and PC makers were considering price increases of up to 20% as memory and storage costs climbed.
3 session driversMeta hardware shift5 key headlinesMicrosoft Reportedly Discusses Custom Chips With Broadcom
Market closed · No intraday price curve
Japan GDP, tariff aid and chip capacity shape Sunday news
U.S. markets were closed on Sunday, leaving QQQ and SPY at Friday's closing levels. Japan's third-quarter GDP contracted at a 2.3% annualized rate, while its GDP price index rose 3.4% year over year. President Trump was reported to be preparing $12 billion in tariff-related farmer aid. In semiconductors, Samsung was expected to retake the global DRAM revenue lead in the fourth quarter, and AI-chip demand was reported to be pushing TSMC to expand and outsource more CoWoS packaging.
3 session driversGlobal macro readings5 key headlinesJapan Q3 GDP Annualized 2.3% Contraction vs. -2.0% Estimate; 2.1% Prior
Market closed · No intraday price curve
SPY slips while QQQ holds steady amid H200 and AI policy shifts
QQQ and SPY opened higher, but QQQ finished essentially flat while SPY slipped 0.15%. QQQ outperformed SPY by 0.14 percentage point. U.S. policy shifted toward conditional Nvidia H200 shipments to approved customers in China, while President Trump said he would seek one national rulebook for artificial intelligence. The New York Fed's 1-year inflation expectation held at 3.2%, and NextEra announced data-center and power partnerships with Google and Meta.
3 session driversAdvanced-chip export policy5 key headlinesU.S. Commerce Department to Allow Nvidia H200 Exports to China
Regular session · Close 16:00 ET
QQQ-0.21%
SPY-0.30%
Google scrutiny, labor data and AI spending frame slight declines
QQQ opened 0.08% lower while SPY opened essentially flat. By the end of overnight trading, QQQ was down 0.06% and SPY had slipped 0.17%, leaving QQQ ahead by 0.11 percentage point. The European Commission opened an antitrust investigation into Google's use of online content for AI training. October JOLTS openings exceeded estimates, while Microsoft detailed major AI investments in India and Canada.
3 session driversGoogle AI antitrust scrutiny3 key headlinesEU Opens Antitrust Investigation Into Google Use of Online Content for AI Training
Regular session · Close 16:00 ET
QQQ+0.13%
SPY-0.08%
SPY gains 0.39% as Fed and AI signals frame QQQ's lag
QQQ and SPY opened 0.03% and 0.07% higher, respectively. By the end of overnight trading, QQQ was down 0.05% while SPY had gained 0.39%, leaving SPY ahead by 0.44 percentage point. The Fed cut its key overnight rate by 25 basis points and announced $40 billion of Treasury purchases over 30 days. Powell said the policy debate was between holding rates and cutting further, with hikes outside the base case. Separate AI headlines highlighted a high cybersecurity-risk assessment for new OpenAI models and Oracle's $523 billion backlog alongside a planned $15 billion increase in 2026 capital spending.
3 session driversFed easing and liquidity5 key headlinesFed Cuts Key Overnight Rate by 25 Basis Points
Regular session · Close 16:00 ET
QQQ+0.40%
SPY+0.65%
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.
3 session driversLabor and trade data5 key headlinesUSA Initial Jobless Claims 236K Vs 220K Est.
Regular session · Close 16:00 ET
QQQ-0.32%
SPY+0.23%
Chip incentives, Fed divisions and geopolitical news mark a 2.04% QQQ decline
QQQ and SPY opened 0.45% and 0.06% lower. By the end of overnight trading, QQQ was down 2.04% and SPY had fallen 1.06%, leaving QQQ behind by 0.99 percentage point. Bloomberg reported that China was preparing up to $70 billion in chip-sector incentives. Fed speakers differed on labor and inflation risks, while Goolsbee explained his dissent from the latest cut. Trump later named Warsh and Hassett as potential Fed leaders and said rates should be 1% or lower in a year. The Wall Street Journal also reported that U.S. forces seized cargo headed from China to Iran.
3 session driversChina chip incentives5 key headlinesBloomberg Reported China Prepares Up To $70B In Chip Sector Incentives
Regular session · Close 16:00 ET
QQQ-1.92%
SPY-1.08%
Saturday bulletin: Nasdaq-100 membership changes as Fed and AI policy signals emerge
U.S. markets were closed on Saturday, leaving QQQ and SPY at Friday's closing levels. Lululemon and Biogen were set to exit the Nasdaq-100 while Alnylam and Seagate were among the additions. President Trump called for scrutiny of ISS and Glass Lewis. Belarus released 123 detainees as Washington agreed to ease potash sanctions. Prediction-market odds for Kevin Warsh to become Fed chair rose by 24 percentage points after Jamie Dimon expressed support. The U.S. also launched Pax Silica with 9 nations to secure AI supply chains, while OpenAI removed the equity vesting wait for new hires.
3 session driversIndex and governance changes6 key headlinesLululemon, Biogen to Exit Nasdaq 100 With Alnylam, Seagate Among Additions
Market closed · No intraday price curve
Closed-market developments span tokenization, Fed independence and AI credit hedging
U.S. markets were closed on Sunday, leaving QQQ and SPY at Friday's closing levels. The SEC allowed DTC to pilot stock-tokenization services. Twenty states sued over a federal H-1B visa-fee change. Kevin Hassett said presidential advice would not control Federal Reserve rate decisions. Technology-company CDS trading had risen 90% since September as investors hedged AI-linked debt risk. Apple's long-term DRAM supply agreements were reportedly nearing expiry, with procurement prices potentially rising next January. China reported November industrial production growth of 4.8% year over year, below the 5.0% estimate and 4.9% prior reading.
3 session driversMarket structure and visa policy6 key headlinesThe U.S. SEC approved a DTC pilot program for stock tokenization
Market closed · No intraday price curve
QQQ gives up its opening gain and trails SPY as rare-earth and Fed updates arrive
QQQ opened 0.56% above the prior close but ended the 24-hour period down 0.83%. SPY moved from a 0.48% opening gain to a 0.33% loss, leaving QQQ about 0.50 percentage points behind. The EU said China had begun issuing general rare-earth licenses. The December NAHB housing index was 39 versus a 38 estimate, while the Empire State manufacturing index fell to -3.9 from 18.7. Nvidia introduced Nemotron 3 open models, data and libraries. Fed officials John Williams and Susan Collins also discussed the prior week's rate cut.
3 session driversRare-earth licensing and AI models6 key headlines'China Starts Granting General Licenses for Rare Earths, EU Says'- Bloomberg
Regular session · Close 16:00 ET
QQQ-0.51%
SPY-0.16%
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.
3 session driversLabor and consumer data6 key headlinesNonfarm Payrolls (Nov) 64K Vs 40K Est.
Regular session · Close 16:00 ET
QQQ+0.21%
SPY-0.27%
SPY outperforms as QQQ retreats 1.47% amid Venezuela and chip updates
QQQ opened 0.31% higher and finished down 1.47%. SPY opened 0.26% higher and ended down 0.89%, leaving SPY ahead by 0.58 percentage points. Venezuela oil restrictions, Fed policy remarks, China's AI-chip program, and Micron's fiscal Q1 revenue and spending plans provided the main context. The largest measured 15-minute move among the selected updates followed the China-chip report, when QQQ fell 0.48% and SPY declined 0.29%. Several oil-inventory releases also arrived during the same period.
3 session driversVenezuela oil risk5 key headlines'How China Built Its 'Manhattan Project' To Rival The West In AI Chips' - Reuters Exclusive
Regular session · Close 16:00 ET
QQQ-1.86%
SPY-1.12%
QQQ finishes 1.43% higher, outpacing SPY amid macro and AI headlines
QQQ opened 0.89% higher and finished up 1.43%. SPY opened 0.47% higher and ended up 0.75%, leaving QQQ ahead by 0.68 percentage points. The Philadelphia Fed index, CPI and jobless-claims releases provided the main macro context, while Micron and OpenAI supplied semiconductor and AI updates. Among the selected updates, the largest measured 15-minute move followed the Philadelphia Fed release, when QQQ rose 0.56% and SPY gained 0.38%. CPI and jobless-claims figures arrived within the next two minutes.
2 session driversMacro release cluster5 key headlinesPhiladelphia Fed Manufacturing Index (Dec) -10.2 Vs 2.5 Est.
Regular session · Close 16:00 ET
QQQ+1.46%
SPY+0.76%
QQQ gains 1.59% as housing, sentiment and semiconductor updates span the day
QQQ opened 0.29% higher and finished up 1.59%. SPY opened 0.15% lower and ended up 0.74%, leaving QQQ ahead by 0.85 percentage points. Existing-home-sales and consumer-sentiment readings provided the main macro context. U.S. scrutiny of advanced Nvidia chip sales to China, FTC approval of Nvidia's $5 billion Intel investment and Google Cloud's nearly $10 billion Palo Alto Networks contract framed the technology news. Among the selected updates, the largest measured move came after the sentiment reading, when QQQ slipped 0.13% and SPY declined 0.06% over the next 15 minutes. The home-sales release had arrived one minute earlier.
2 session driversHousing and sentiment data5 key headlinesU.S. University of Michigan December consumer sentiment final was 52.9 versus 53.4 expected
Regular session · Close 16:00 ET
QQQ+1.33%
SPY+0.61%
U.S. markets closed as Tesla rulings, SpaceX plans and geopolitical news arrived
U.S. markets were closed on Saturday, leaving QQQ and SPY at Friday's closing levels. The Delaware Supreme Court reinstated Elon Musk's 2018 Tesla compensation package, which was valued at about $56 billion at the time. Tesla also filed a patent for a Starlink receiver embedded in a vehicle sunroof. Bill Ackman proposed a SpaceX listing structure that would give Tesla shareholders priority access, while Google and Apple reportedly warned visa-holding employees about long consular appointment delays. Hungary's prime minister criticized the EU's $105 billion Ukraine loan, and the U.S. intercepted a Venezuelan oil tanker in international waters.
3 session driversTesla and SpaceX corporate plans6 key headlinesCourt overturns rejection ruling, reviving Musk's 2018 Tesla compensation plan
Market closed · No intraday price curve
Fed, Apple and chip updates frame a second closed-market day
U.S. markets were closed Sunday, leaving QQQ and SPY at Friday's closes. Cleveland Fed President Beth Hammack preferred holding rates steady until at least spring and said policy may already be below neutral. Apple reportedly targeted 2026 launches for AI smart glasses and camera-equipped AirPods. South Korea's early-December export growth slowed as chip demand surged. Tesla reportedly registered more than 1,500 vehicles for a California ride-hailing fleet, while the U.S. announced $33 million for university autonomous-vehicle and AI programs. U.K. third-quarter GDP grew 0.1% from the prior quarter and 1.3% from a year earlier, both matching estimates.
3 session driversFed and GDP signals6 key headlinesCleveland Fed's Hammack, In Wall Street Journal Podcast Recorded Thursday, Said Prefers Holding Rates Steady Until At Least The Spring; Said Policy May Already Be Below Neutral, P…
Market closed · No intraday price curve
Broad gains leave SPY up 0.66% and 0.19 points ahead of QQQ, with Fed and AI infrastructure in focus
QQQ opened 0.58% higher and finished up 0.47%. SPY opened 0.44% higher and ended up 0.66%, leaving SPY ahead by 0.19 percentage points. The Chicago Fed National Activity Index improved to -0.21 from -0.31 but stayed below trend. Fed Governor Stephen Miran warned that no policy adjustment would raise recession risk. Reuters reported NVIDIA planned to ship 40,000 to 80,000 H200 chips to China before mid-February 2026. Alphabet agreed to acquire energy partner Intersect for $4.75 billion. A Bloomberg-cited report on deaths in crashes where Tesla doors would not open added a vehicle-safety risk. Selected 15-minute moves were modest. SPY's 0.10% rise after the Tesla report was the largest.
3 session driversFed and activity signals5 key headlinesChicago Fed National Activity (Sep) -0.21; Prior -0.31
Regular session · Close 16:00 ET
QQQ+0.34%
SPY+0.62%
QQQ advances 0.51% alongside a GDP beat and new chip-tariff plans
QQQ opened down 0.06% and finished up 0.51%. SPY opened down 0.03% and ended up 0.42%, leaving QQQ ahead by 0.09 percentage points. U.S. third-quarter annualized GDP growth was 4.3%, above the 3.3% forecast and 3.8% prior reading. Core PCE inflation was 2.9%, in line with expectations, while December consumer confidence was 89.1 versus a 91.7 estimate. New U.S. tariffs on Chinese semiconductors are due in June 2027. ByteDance reportedly planned $23 billion of AI investment. After the tariff report, QQQ gained 0.15% and SPY rose 0.17% over 15 minutes, though both had already advanced. After the confidence data, QQQ fell 0.16% and SPY declined 0.09%.
3 session driversGrowth and inflation5 key headlinesExpress News | US Q3 GDP Growth Rate QoQ Adv 4.3% Vs 3.3% Forecast, Prior 3.8%
Regular session · Close 16:00 ET
QQQ+0.48%
SPY+0.45%
SPY edges ahead as labor data, Fed criteria and AI-chip updates span Christmas Eve
QQQ opened 0.04% higher and finished up 0.15%. SPY opened essentially flat and ended 0.23% higher, leading by 0.09 percentage points. Initial jobless claims fell to 214,000 versus a 224,000 forecast and prior reading, while continuing claims rose to 1.923 million from 1.885 million. Samsung and SK Hynix reportedly raised HBM quotes by 20%, and a U.S. Commerce Department official said Nvidia had halted tests of Intel's 18A process. Treasury Secretary Bessent outlined criteria for the next Fed chair. After the close, Nvidia denied acquiring Groq and described a non-exclusive inference-technology licensing agreement.
3 session driversLabor data and Fed leadership6 key headlinesExpress News | US Weekly Initial Jobless Claims 214000 Vs 224000 Forecast, Prior 224000
Regular session · Close 16:00 ET
QQQ+0.29%
SPY+0.34%
Christmas Day keeps QQQ and SPY unchanged while AI, labor and policy news develops
U.S. markets were closed for Christmas Day, so QQQ and SPY remained at their previous regular-session closes. AI and semiconductor updates included NVIDIA licensing Groq technology and integrating its core team, Microsoft and Google competing for Korean memory-chip supply, and Samsung planning its own GPU for the Exynos 2800 by 2027. U.S. unemployment reached 7.8 million as of November and layoffs rose 50% year on year. The U.S. launched airstrikes against ISIS militants in northwestern Nigeria. ByteDance agreed to transfer control of TikTok's U.S. operations to an Oracle-led group. Japan reported Tokyo core CPI of 2.3% and preliminary industrial production down 2.6% month on month.
4 session driversAI and semiconductor strategy6 key headlinesNVIDIA Licenses Groq Technology and Integrates Its Core Team as Google TPU Competition Rises
Market closed · No intraday price curve
QQQ and SPY edge lower amid China-policy and Ukraine-deal updates
QQQ opened 0.10% higher but finished 0.12% lower, while SPY opened 0.01% higher and ended 0.07% lower. SPY outperformed QQQ by 0.05 percentage points. Chinese hard-technology funding and defense-company sanctions, together with two Ukraine-negotiation updates, provided the day's main context. The selected headlines were followed by moves of less than 0.10% in both ETFs over the next 15 minutes.
2 session driversChina policy and risk4 key headlinesChina Sanctions Boeing, Northrop, Anduril Founder
Regular session · Close 16:00 ET
QQQ-0.01%
SPY-0.02%
Saturday's closed market brings HBM, power-grid and preparedness updates
U.S. markets were closed, leaving QQQ and SPY unchanged. The day's headlines centered on HBM4 production plans, power supply for AI data centers, and corporate security responses at Amazon and OpenAI. Budget deadlock and renewed government-shutdown risk added a policy counterpoint.
3 session driversAI infrastructure6 key headlinesIs the HBM market landscape about to change? Expectations for NVIDIA's Rubin shipments are growing, as storage giants engage in a fierce 'catch-up' race.
Market closed · No intraday price curve
BOJ minutes, AI hardware costs and geopolitics set Sunday's agenda
U.S. markets were closed, so QQQ and SPY remained at Friday's closing levels. Bank of Japan minutes pointed to scope for further rate increases, while a 10% CCL price increase highlighted cost pressure in the AI hardware chain. Russia-Ukraine talks, Blue Origin's leadership appointment and the sharp reduction in a Tesla supplier deal rounded out the day's developments.
4 session driversGlobal monetary policy5 key headlinesBank of Japan minutes signal scope for further rate increases
Market closed · No intraday price curve
QQQ falls 0.63% as SPY leads amid rate, geopolitical and AI-deal updates
QQQ ended down 0.63% and SPY down 0.43%, leaving SPY ahead by 0.20 percentage points. Pending home sales beat estimates while the Treasury curve steepened to +65 basis points. China’s Taiwan drills and a series of AI deals and semiconductor licensing updates provided additional context through overnight trading.
4 session driversMacro crosscurrents6 key headlinesU.S. Pending Home Sales Economic Data: November +3.3% vs +1.0% Estimate; Prior +2.4%
Regular session · Close 16:00 ET
QQQ-0.48%
SPY-0.36%
Activity data, Fed minutes and AI investment frame a session where QQQ falls 0.47%
QQQ ended down 0.47% and SPY down 0.29%, leaving SPY ahead by 0.18 percentage points. Chicago PMI beat estimates and Dallas Fed services revenue improved from its prior reading. Fed minutes showed ample reserves and differing views on the December rate cut. Tariff planning, AI investment and later China PMI releases added context through after-hours and overnight trading.
4 session driversActivity data6 key headlinesChicago PMI For December 43.5 Vs 39.8 Est
Regular session · Close 16:00 ET
QQQ-0.23%
SPY-0.13%
QQQ closes 0.83% lower as labor and chip-policy updates mark year-end trading
QQQ ended down 0.83% and SPY down 0.66%, leaving SPY ahead by 0.18 percentage points. Initial jobless claims came in at 199,000 versus a 220,000 forecast, while continuing claims fell to 1.866 million from 1.913 million. Nvidia demand and investment reports, TSMC production and export-license updates, and energy inventory releases added context during the session. Geopolitical developments and record Standing Repo Facility usage followed after hours and overnight.
3 session driversLabor data6 key headlinesExpress News | US Weekly Initial Jobless Claims 199000 Vs 220000 Forecast, Prior 215000
Regular session · Close 16:00 ET
QQQ-0.83%
SPY-0.75%