QQQ leads as firm data meets Iran risk and chip investment

QQQ gained 1.16% and SPY rose 0.68%, leaving technology ahead by 0.48 percentage points. Retail sales and ADP data showed resilience, while Iran ceasefire and NATO headlines coincided with sharp intraday swings. TSMC's Japan expansion and Federal Reserve commentary added chip and rate context.

Published Aug 12, 2026

QQQ: +1.16%
SPY: +0.68%
QQQ − SPY: +0.48%

What shaped the session

Resilient U.S. data

February retail sales rose 0.6% versus a 0.5% forecast, while March ADP employment increased by 62,000 versus 41,000 expected.

Chip capacity

TSMC targeted 2028 for 3nm mass production in Japan, with planned monthly capacity of 15,000 12-inch wafers.

Iran and alliance risk

Trump said Iran's new president requested a ceasefire and separately said he was strongly considering U.S. withdrawal from NATO, keeping geopolitical risk prominent.

Fed and supply chains

St. Louis Fed President Musalem linked lower nominal rates with a lower 10-year yield and identified Iran-war disruptions in helium, aluminum and fertilizer supply chains.

Key news

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←Mar 31:Broad rally builds through the session, QQQ gains 3.92% with macro, Iran and AI news in focus·View all April 2026 QQQ/SPY reviews·Apr 2:Private-credit stress and shifting Hormuz signals frame a rebound from morning lows→