Fed rate-cut resistance and a 28-point Ukraine proposal lead Saturday's news

U.S. equity markets were closed, leaving no fresh QQQ or SPY session move. The day's key context centered on growing resistance to a December Fed cut, a 28-point Ukraine peace proposal, and the remedies phase of Google's digital-advertising antitrust case.

Published Aug 26, 2026

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

What shaped the session

Fed rate path

Collins remained hesitant about a December cut as the employment and inflation mandates moved in opposite directions. A separate tally said five of the 12 current voters leaned toward holding rates unchanged.

Ukraine peace proposal

Trump proposed a 28-point plan to end the Russia-Ukraine war. Moscow and Hungary supported it, while European and U.S. officials expressed skepticism.

Google antitrust remedies

The Justice Department and Google completed closing arguments over remedies in the digital-advertising antitrust case. A federal judge is expected to rule next year on whether Google must be broken up.

Key news

Loading the full-day price curve…

You can review 4 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

Nov 25, 2025Also covers FOMCSPY gains 1.08% and leads QQQ after a morning dip amid macro and Fed-chair newsQQQ gained 0.78% and SPY gained 1.08%, leaving SPY ahead by 0.29 percentage points. Both opened nearly flat, fell to morning lows, then recovered through the afternoon and after-hours session. Inflation, retail and confidence releases, Fed-chair reporting, and the Ukraine peace-plan update were the main contexts.Open review
Nov 13, 2025Also covers FOMCQQQ drops 2.02% with shutdown data gaps and Fed restraint in viewQQQ opened 0.19% lower and ended down 2.02%, while SPY opened 0.20% lower and finished down 1.58%. SPY led by 0.44 percentage points. Hassett said the October jobs report would omit the unemployment rate and estimated a 1.5% hit to fourth-quarter GDP from the shutdown. Hammack kept service inflation and restrictive policy in focus. AI competition and chip-export controls remained prominent, while China's October industrial output growth slowed to 4.9%.Open review
Dec 12, 2025Also covers FOMCChip incentives, Fed divisions and geopolitical news mark a 2.04% QQQ declineQQQ and SPY opened 0.45% and 0.06% lower. By the end of overnight trading, QQQ was down 2.04% and SPY had fallen 1.06%, leaving QQQ behind by 0.99 percentage point. Bloomberg reported that China was preparing up to $70 billion in chip-sector incentives. Fed speakers differed on labor and inflation risks, while Goolsbee explained his dissent from the latest cut. Trump later named Warsh and Hassett as potential Fed leaders and said rates should be 1% or lower in a year. The Wall Street Journal also reported that U.S. forces seized cargo headed from China to Iran.Open review

←Nov 21:QQQ gains 1.09%, with Fed signals diverging and U.S. activity data firm·View all November 2025 QQQ/SPY reviews·Nov 23:AI financing and Malaysia's platform rules dominate Sunday's closed-market news→