markets
Breaking: US goods trade deficit contracts, still expected to subtract from Q2 GDP growth
By SNF Research · Independent market intelligence from Sunday Night Futures LLC
Trade deficit narrows but Q2 GDP drag remains intact — macro pressure weighs on tech.
The US goods trade gap contracted, yet the print still subtracts from Q2 GDP growth. QQQ is down 1.48% intraday to $672.27, leading the selloff as growth names reprice. DIA holds relative strength at $525.22 (+0.73%), signaling rotation into defensives. Crypto-linked names are taking the hardest hits — RIOT at $20.76 (-5.51%), COIN at $163.99 (-2.29%).
Watch: QQQ $672.27 — a break below today's low deepens the tech unwind. DIA $525.22 — continued outperformance confirms defensive rotation is the live intraday trade.