QQQ rises 1.56% amid hot PPI, tariff talks and chip headlines

QQQ finished 1.56% above the previous close and SPY gained 0.73%, leaving QQQ ahead by 0.83 percentage points. A hotter-than-forecast PPI print coincided with a sharp premarket dip. Tariff-cut reports and chip-sector developments then framed the recovery and later volatility.

Published Aug 9, 2026

QQQ: +1.56%
SPY: +0.73%
QQQ − SPY: +0.83%

What shaped the session

Inflation and the rate path

April PPI rose 6.0% year over year versus a 4.9% forecast, while Fed officials kept restrictive policy and inflation risks in focus.

Trade-policy signals

Reports of possible tariff cuts on $30 billion of imports and U.S. clearance for H200 sales to 10 Chinese firms shifted attention toward narrower trade barriers.

Chip-sector breadth and risk

Nebius reported 841% AI cloud revenue growth alongside major Meta and Nvidia commitments, while H200 clearance linked chip demand to China access.

Key news

Loading the full-day price curve…

You can explore the full-day price curve and 5 featured headlines now. Pro adds all 40 headlines, measured 1/5/15/30/60-minute reactions, the complete timeline, and historically similar news.

Already subscribed? to view the full review.

Related market reviews

Jan 14, 2025Also covers PPICooler producer prices meet tariff signals as SPY edges aheadQQQ opened 0.10% above its previous close and finished up 0.07%, while SPY opened 0.06% higher and ended up 0.22%, leading by 0.15 percentage point. The day's evidence centered on below-estimate December producer prices, Federal Reserve comments on tariff risks, Trump's proposed External Revenue Service, Apple chip verification in Arizona, and Tesla Model Y reservations in China.Open review
Jan 14, 2026Also covers PPIQQQ falls 1.19% with PPI, Fed and chip headlines in viewQQQ opened 0.43% lower and finished down 1.19%. SPY opened down 0.32% and ended 0.61% lower, leaving QQQ behind by 0.57 percentage points. November PPI rose 3% year over year, above expectations, while Fed official Paulson said further rate cuts could follow if the outlook holds. U.S. personnel left Al Udeid Air Base as Iran warned of retaliation. The White House said broader semiconductor tariffs could follow a 25% levy on certain advanced chips. OpenAI signed a multibillion-dollar computing deal with Cerebras, and Taiwan Semiconductor later reported quarterly earnings and sales above estimates.Open review
Aug 14, 2025Also covers PPIQQQ falls 0.22% as hot PPI and chip-policy headlines frame the dayQQQ ended 0.22% lower while SPY was nearly flat, leaving QQQ 0.26 percentage points behind. July producer prices rose 3.3% from a year earlier versus the 2.5% forecast, while initial jobless claims were 224,000 against a 225,000 estimate. During the session, Fed President Alberto Musalem said inflation was near 3% and tariffs were feeding through, and White House adviser Peter Navarro said pharmaceutical tariffs were likely under a Section 232 investigation. Late in the day, the Trump administration was reported to be discussing a government stake in Intel. Applied Materials then issued fourth-quarter earnings and sales guidance below estimates after the close.Open review

←May 12:QQQ falls 1.18% and trails SPY amid inflation, policy and chip news·View all May 2026 QQQ/SPY reviews·May 14:SPY narrowly leads a 0.7% gain as import prices, Iran talks and chip policy share focus→