QQQ and SPY rebound as Iran diplomacy, oil risks and U.S. data share focus

QQQ rose 1.21% and SPY gained 1.03% after both opened below their prior closes, leaving QQQ ahead by 0.18 percentage points. Oil climbed 7% as the U.S. blockade of Iranian ports raised supply concerns, while later details clarified exemptions. OPEC reported a 7.88 million-barrel-per-day output decline. March existing-home sales were 3.98 million versus 4.07 million expected, and an OpenAI memo contrasted constraints from Microsoft with strong demand through AWS.