Market notes arranged around the dates, decisions, and tape that mattered.
BlackRock and ASML kept the broader tape green, but QQQ gave back its PPI pop and the 75/25 book lost a small round. The trend still holds—and the book remains about 1.35 points ahead since July 8.
June PPI fell 0.3%, QQQ opened higher, and the live 75/25 book is now about 1.1 points ahead of QQQ since July 8. The raw score still hates risk; the portfolio keeps winning.
The 75/25 book finished Tuesday about 0.54 percentage points ahead of QQQ as chips rebounded and yields eased. Strong banks made the rally credible; $85 oil keeps it conditional.
June CPI delivered a real downside surprise, QQQ snapped back above $720, and the 75/25 book beat the benchmark. Good trade. Brent near $87 makes the victory lap wait.
Trump revived the Iran blockade, Brent surged 9.6%, and QQQ finished 26 cents above the low. The 75/25 book kept its floor but lagged QQQ by about 1.1 points. Surviving is not winning.