QQQ leads a broad advance as tariff headlines reverse and AI hardware stays in focus

QQQ rose 1.21% and SPY gained 0.61%, leaving QQQ ahead by 0.60 percentage points. Shifting tariff reports, Fed caution on rate cuts and AMD's CES AI PC launch framed a technology-led advance.

Published Sep 13, 2026

QQQ: +1.21%
SPY: +0.61%
QQQ − SPY: +0.60%

What shaped the session

Tariff policy

An initial report that tariffs might target only key imports was followed by Trump's denial, keeping trade-policy expectations fluid through the session.

Fed rate path

Fed Governor Lisa Cook linked a more cautious approach to further rate cuts with resilient employment and persistent inflation.

AI hardware

AMD expanded its processor lineup for consumer and commercial AI PCs at CES, keeping semiconductor product news prominent as QQQ led SPY.

Key news

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