Iran diplomacy and Hormuz risk
A report that the U.S.-Iran agreement text was in final editing pointed toward diplomacy, while other retained headlines kept regional conflict and Hormuz shipping risk in view.
May 20, 2026 · QQQ/SPY Market Review · 63 headlines
By 4:00 a.m. ET, QQQ was up 0.96% and SPY was up 0.62%, leaving QQQ ahead by 0.33 percentage points. Both ETFs advanced during regular trading before giving back part of their gains after the close. Reports that a U.S.-Iran agreement was nearing completion supported a more diplomatic geopolitical backdrop, while the FOMC minutes kept possible policy tightening in view. After-hours technology news included NVIDIA results and outlook above estimates, followed by SpaceX's S-1 filing.
Published
A report that the U.S.-Iran agreement text was in final editing pointed toward diplomacy, while other retained headlines kept regional conflict and Hormuz shipping risk in view.
The FOMC minutes said many policymakers favored removing the easing bias and most could support tightening if inflation remained above 2%.
NVIDIA reported quarterly profit and sales above estimates and issued an above-consensus revenue range, while SpaceX filed for a Nasdaq listing.
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