Broad gains leave SPY up 0.66% and 0.19 points ahead of QQQ, with Fed and AI infrastructure in focus

QQQ opened 0.58% higher and finished up 0.47%. SPY opened 0.44% higher and ended up 0.66%, leaving SPY ahead by 0.19 percentage points. The Chicago Fed National Activity Index improved to -0.21 from -0.31 but stayed below trend. Fed Governor Stephen Miran warned that no policy adjustment would raise recession risk. Reuters reported NVIDIA planned to ship 40,000 to 80,000 H200 chips to China before mid-February 2026. Alphabet agreed to acquire energy partner Intersect for $4.75 billion. A Bloomberg-cited report on deaths in crashes where Tesla doors would not open added a vehicle-safety risk. Selected 15-minute moves were modest. SPY's 0.10% rise after the Tesla report was the largest.