Fed restraint, Iran terms and AI deals accompany a flat QQQ and 0.63% SPY decline

QQQ opened 0.73% above the prior close, lost 1.59 percentage points during regular trading, then recovered 0.80 points after hours to finish essentially flat. SPY ended down 0.63%, leaving QQQ ahead by 0.64 points. The Fed held its policy rate at 3.50%-3.75% and projected a 2026 hike followed by cuts. Iran headlines shifted from denial of a $300B U.S. fund to confirmation that a remotely signed memorandum was effective. AI updates included Coherent's Texas expansion, a $500M CHIPS award and an Applied Materials smart-glasses platform.