Japan election defeat, tariff deadline and airline outage shape a closed-market day

Markets were closed. Retained headlines centered on Japan's ruling-coalition election defeat, the August 1 U.S. tariff deadline, reported limits on canceling SpaceX government contracts, Stellantis's preliminary loss, and Alaska Air's nationwide ground stop.

Published Aug 31, 2026

QQQ: 0.00%
SPY: 0.00%
QQQ − SPY: 0.00%

What shaped the session

Japan election risk

Japan's ruling coalition suffered an upper-house election defeat, adding power-struggle, budget, and geopolitical uncertainty alongside concern about long-term government-bond yields.

U.S. policy signals

The August 1 tariff deadline was described as final, while a separate report said most SpaceX government contracts could not be canceled because of their importance to the Defense Department and NASA.

Corporate operating risk

Stellantis reported a preliminary first-half loss and lower second-quarter shipments, while an IT outage prompted Alaska Air to request a nationwide ground stop.

Key news

Loading the full-day price curve…

You can review 5 featured headlines and the closed-market curve now. Pro adds all 9 headlines, the complete timeline, reaction context, and historically similar news.

Already subscribed? to view the full review.

Related market reviews

Jul 18, 2025Also covers TariffsOpening gains fade as tariff and rate signals leave QQQ down 0.06%, behind SPYQQQ opened 0.24% above the prior close, lost 0.23 percentage points during regular trading and recovered 0.03 points after hours to end down 0.06%. SPY opened 0.20% higher and ended down 0.02%, finishing 0.04 points ahead of QQQ. July consumer sentiment reached 61.8 versus 61.5 expected as inflation expectations eased, while proposed 15%-20% tariffs on EU goods and Fed comments kept the inflation and rate path in focus. Nvidia H20 export policy and the signing of the GENIUS Act added technology and digital-asset policy context.Open review
Jul 23, 2025Also covers TariffsSPY rises 0.92%, edging QQQ as housing softens and tariff details widenSPY rose 0.92% and QQQ gained 0.79%, leaving SPY ahead by 0.13 percentage point. June existing-home sales missed the estimate and fell 2.7% from May. New details on the Japan trade agreement, a planned copper tariff and a broader 15%-50% tariff statement kept trade policy prominent. Bessent said one or two rate cuts could occur this year, while technology updates included Meta's gesture-control wristband and new AI infrastructure plans.Open review
Aug 6, 2025Also covers TariffsPolicy shifts and U.S. tech investment frame QQQ's 1.38% reboundQQQ rose 1.38% and SPY gained 0.90%, putting technology-heavy QQQ ahead by 0.48 percentage points. Most of the advance came during the regular session. Daly said policy adjustments may be needed as the labor market softened, while an additional tariff on Indian goods, a proposed chip tariff with a U.S.-investment exemption, and Apple's expanded domestic investment shaped the policy and technology backdrop.Open review

←Jul 19:NVIDIA H20 supply limits coincide with renewed debate over Powell's tenure·View all July 2025 QQQ/SPY reviews·Jul 21:QQQ gains 0.54% as trade, Fed and technology developments fill the session→