Markets closed as tariff, oil and AI headlines shape weekend context

U.S. markets were closed for the weekend, so QQQ and SPY carried Friday's closing values. Nintendo and Berkshire highlighted tariff and operating risks, India maintained Russian oil purchases, Tesla governance concerns remained in focus, and Meta reportedly invested $250 million in AI recruitment.

Published Aug 31, 2026

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

What shaped the session

Trade and earnings

Nintendo's U.S. Switch price increase and Berkshire's softer Q2 operating profit kept tariff pressure and corporate resilience in focus.

Oil and geopolitics

India's decision to maintain discounted Russian oil purchases despite threatened U.S. penalties sustained geopolitical and energy-market risk.

Tech governance and talent

Tesla control concerns and Meta's reported $250 million investment in an AI researcher highlighted governance and talent competition in mega-cap technology.

Key news

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←Aug 1:QQQ falls 2.12% and lags as jobs shock deepens risk·View all August 2025 QQQ/SPY reviews·Aug 3:Sunday pause leaves oil supply, trade policy and Big Tech AI in focus→