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Market Recap: SPY, QQQ React to Jobs Data as Nvidia Dips on SoftBank Sale

Market Recap: SPY, QQQ React to Jobs Data as Nvidia Dips on SoftBank Sale

Author:

Global Cryptocurrency

Published:

2025-11-11 23:59:02

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BTCCSquare news:

U.S. equity ETFs showed resilience despite weak jobs data, with SPY eking out gains while QQQ remained flat. The tech-heavy Nasdaq faced headwinds as Nvidia—comprising 7.96% of SPY and 10.15% of QQQ—slid 2.91% following SoftBank's $5.83 billion divestment. The MOVE sparked fresh debate about AI valuations, though the Japanese conglomerate framed it as portfolio rebalancing.

Washington moved closer to ending the record 42-day government shutdown after Senate approval of a stopgap funding bill. The legislation now heads to the House, where passage would avert further disruptions to air travel and food assistance programs. Market participants largely priced in the resolution after President TRUMP endorsed the measure.

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