Jul 5, 2026 · QQQ/SPY Market Review · 8 headlines
QQQ and SPY remained unchanged at their July 2 closing levels during the Sunday market closure. Foxconn's revenue growth, Nvidia rack delays, Samsung's profit outlook and SK Hynix's Nasdaq debut framed a mixed AI hardware backdrop, while OPEC+'s August output increase and unresolved Hormuz shipping risk kept oil supply in focus.
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Foxconn reported a 40% rise in second-quarter revenue on AI-server demand, while Nvidia's Kyber NVL144 rack faced a delay of more than 12 months. Samsung's record-profit outlook and SK Hynix's Nasdaq debut highlighted strong AI-memory demand and broader investor access.
The foldable iPhone was projected to ship 7 million to 8 million units in the second half of 2026, but only 500,000 to 1 million units in the third quarter, with sales possibly delayed and supply tight before year-end.
OPEC+ agreed to raise collective production quotas from August while crude shipping through the Strait of Hormuz remained uncertain.
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