May 5, 2026 · QQQ/SPY Market Review · 59 headlines
QQQ rose 2.14% and SPY gained 1.18%, leaving QQQ ahead by 0.96 percentage points. Hegseth described Project Freedom as temporary and said the U.S. was moving to restore commercial traffic through the Strait of Hormuz. March job openings edged down to 6.87 million while the hires rate rebounded to 3.5%. The 30-year Treasury yield crossed 5%. After the close, AMD reported 38% revenue growth and 57% data-center growth. Overnight, Rubio said the Iran offensive had concluded and Project Freedom was paused, while Anthropic committed about $200 billion to Google Cloud over five years.
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Hegseth said Project Freedom was separate from Operation Epic Fury and temporary, while the U.S. moved to restore commercial traffic through the Strait of Hormuz. Overnight, Rubio said the Iran offensive had achieved its objectives and concluded, and Trump paused Project Freedom for a period.
March job openings edged down to 6.87 million from a revised 6.92 million, slightly above the 6.85 million forecast, while the hires rate rebounded to 3.5%. The 30-year Treasury yield crossed 5%, keeping long-term financing pressure in view.
AMD reported first-quarter revenue of $10.3 billion, up 38%, as data-center revenue climbed 57% to $5.8 billion. Later, Anthropic committed to spending about $200 billion with Google Cloud over five years, a scale equal to more than 40% of Google's cloud revenue backlog.
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