Growth and inflation mix
First-quarter GDP growth of 2.0% missed the 2.3% forecast. March core PCE inflation was 3.2%, up from 3.0%, Chicago PMI was 49.2 versus 54.8 expected, and the Dallas Fed PCE measure rose to 2.90% from 1.80%.
Apr 30, 2026 · QQQ/SPY Market Review · 43 headlines
Growth misses as core PCE rises, while SPY finishes 0.21 points ahead of QQQ
QQQ moved from a 0.57% opening gain to finish 0.96% above the prior close, while SPY went from a 0.44% opening gain to a 1.17% advance. SPY led by 0.21 percentage points. First-quarter GDP grew at a 2.0% annualized rate, below the 2.3% forecast, while March core PCE inflation rose to 3.2% from 3.0%. AI hardware supply and memory costs remained in focus. After-hours results from Western Digital, SanDisk and Apple added a fresh earnings read.
Published
- QQQ
- +0.96%
- SPY
- +1.17%
- QQQ − SPY
- -0.21%
What shaped the session
Labor indicators
Weekly initial jobless claims were 189,000 versus a 215,000 forecast, while continuing claims were 1.785 million versus 1.820 million expected.
Key news
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