May 27, 2026 · QQQ/SPY Market Review · 48 headlines
QQQ opened 0.37% above its prior close but ended 0.34% lower, while SPY moved from a 0.04% higher open to a 0.07% decline. SPY led by 0.27 percentage points at the end. Semiconductor headlines included TSMC's incentive increase, Nvidia's planned Taiwan spending and Marvell's earnings beat. U.S.-Iran reports shifted between ceasefire progress, unresolved terms and preparations for possible further strikes. QQQ lost more ground than SPY during regular trading and after hours.
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TSMC's chief executive pledged an incentive increase of more than 30% as AI profits rose. Nvidia said annual Taiwan spending would increase from $100 billion to $150 billion, and Marvell later reported earnings and sales above estimates.
Reports described a preliminary ceasefire outline but also unresolved terms. The Pentagon was reportedly preparing a new strike-target list, while the White House later said talks were proceeding and its red lines were clear.
Snowflake reported adjusted earnings of $0.39 per share and $1.39 billion in revenue, up 33%, while announcing a $6 billion AWS procurement agreement.
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