QQQ leads a broad advance amid rate signals, Hormuz diplomacy and AI developments

QQQ gained 1.55% and SPY rose 0.89%, leaving QQQ ahead by 0.66 percentage points. Import prices and comments about future Fed leadership kept rates and inflation in focus, while Hormuz diplomacy and Tesla's AI5 chip milestone provided additional context.

Published Aug 12, 2026

QQQ: +1.55%
SPY: +0.89%
QQQ − SPY: +0.66%

What shaped the session

Rates and inflation

March import prices rose 0.8% from February, below the 2.3% estimate. Trump also said rates could decline after Warsh takes office and threatened to dismiss Powell if he remained after his term.

Hormuz diplomacy

Trump said China welcomed the permanent opening of the Strait of Hormuz and had agreed not to send weapons to Iran.

AI chip development

Tesla completed the tape-out of its AI5 chip and compared the performance of a dual-chip configuration with Nvidia's Blackwell platform.

Key news

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←Apr 14:QQQ gains 1.87% as rate signals, Iran talks and technology updates unfold·View all April 2026 QQQ/SPY reviews·Apr 16:QQQ and SPY edge higher as mixed data, Iran diplomacy and AI demand frame the day→