Jun 2, 2026 · QQQ/SPY Market Review · 46 headlines
Both ETFs opened below the prior close and recovered during regular trading. QQQ finished the full window up 0.45% and SPY gained 0.14%, giving QQQ a 0.30 percentage-point lead. Firm Redbook and JOLTS readings joined Hammack's inflation and labor comments. The White House AI order, new OpenAI tools and changing Iran negotiation and military reports supplied the other major updates.
Published
Redbook showed May sales up 8.9% year over year and the week ended 5/30/26 up 9.0%. April JOLTS openings were 7.618M versus 6.860M expected. Hammack also reported stable inflation expectations and a stable job market despite meager hiring.
The White House released an AI executive order, while OpenAI introduced role-specific Codex plugins, Sites and Annotations. The two events framed both the policy and product sides of the AI cycle during a session in which QQQ outperformed SPY.
Iran-related status changed repeatedly: one report said message exchanges had stopped, Trump said negotiations remained continuous, Rubio outlined negotiation conditions, and an after-hours report described a U.S. strike on Qeshm Island and Iranian missile launches.
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