QQQ and SPY edge higher amid Hormuz talks, services inflation and AI deals

QQQ gained 0.35% and SPY rose 0.32%, leaving technology ahead by only 0.03 percentage points. A Pakistan-backed ceasefire framework and Iraq's potential 3.4 million-barrel-per-day export restoration offered diplomatic and supply relief, while Iran's 10-point response showed that terms remained contested. The ISM services index eased to 54 as prices paid reached the highest level since October 2022, and later Fed remarks leaned toward tighter policy. Broadcom's long-term TPU agreement with Google and expanded Anthropic collaboration added a separate AI infrastructure theme.