Inflation and the morning rebound
May core CPI rose 0.2% month over month versus a 0.3% estimate. Both ETFs advanced during the following 15 minutes and later reached positive intraday highs before the broader decline resumed.
June 10, 2026 · QQQ/SPY Market Review · 50 headlines
Softer core CPI accompanies a rebound, but QQQ finishes down 2.56% behind SPY
QQQ finished down 2.56% while SPY fell 1.92%, leaving QQQ behind by 0.63 percentage points. Both opened lower, recovered to positive intraday highs, then sold off through regular trading and after hours. A softer-than-expected core CPI reading, technology execution and data-retention developments, and renewed trade and Iran-Hormuz risk provided the main context.
Published
- QQQ
- -2.56%
- SPY
- -1.92%
- QQQ − SPY
- -0.63%
What shaped the session
Technology execution and controls
Micron selected Bechtel for its New York memory complex, while Microsoft restricted an Anthropic model for employees over data-retention concerns. The developments kept infrastructure execution and AI governance in view as QQQ underperformed SPY.
Trade and Iran-Hormuz risk
Trump said he was not looking to renew the Canada and Mexico trade arrangement. Later reports described additional U.S. strikes against Iran and Iran closing the Strait of Hormuz to all vessels.
Key news
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