Jun 4, 2026 · QQQ/SPY Market Review · 35 headlines
QQQ opened 1.17% below its prior close and SPY opened 0.28% lower. Both rebounded during regular trading, but the after-hours pullback left QQQ down 1.19% at the full-window finish while SPY edged up 0.04%. SPY led by 1.23 percentage points. Initial claims were 225K versus 214K expected, while unit labor costs were 1.8% versus 2.3% expected. AI capacity, robotics and Robotaxi updates joined changing Iran negotiation and oil-supply reports.
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TSMC warned that AI capacity could remain tight for a long time and signaled possible price increases. Amazon announced expanded European robotics and delivery work plus $1B for employee upskilling, while Tesla widened its Austin Robotaxi map as the reported active fleet fell to 20 cars.
Trump said talks to end the Iran war were in their final phase before a report put May Iranian oil exports below 300,000 barrels a day, the lowest in at least six years. After hours, he also set conditions that could restart conflict and reiterated that Iran could not have a nuclear weapon.
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