Jul 6, 2026 · QQQ/SPY Market Review · 22 headlines
QQQ ended 1.09% above its prior close and SPY finished 0.79% higher, leaving QQQ ahead by 0.30 percentage points. Both opened higher and added ground during regular trading before easing after hours. S&P Global services PMI was 51.2 versus 51.3 expected, while ISM services registered 54.0 versus 54.2 expected with stronger hiring and lower cost pressure. SpaceX's Nasdaq-100 addition and Nvidia's roadmap response supplied technology context, while a 100% tariff threat tied to EU digital taxes, Waller's policy remarks and fresh Hormuz vessel strikes kept trade, rates and geopolitical risks visible.
Published
SpaceX was scheduled to join the Nasdaq-100 on July 7, putting the company into QQQ and QQQM with an estimated $4.3 billion of index-tracker demand. Nvidia later responded to the reported Kyber NVL144 delay by saying its roadmap remained intact.
S&P Global services PMI was 51.2 versus 51.3 expected. ISM services eased to 54.0 from 54.5, slightly below the 54.2 forecast, while hiring rebounded and cost pressure fell to a four-month low. Waller said the 2% inflation pledge remained credible as labor conditions stabilized and inflation risks rose.
A threat of 100% tariffs on European goods tied the digital-tax dispute to U.S. technology companies. Later reports of IRGC strikes on two vessels in the Strait of Hormuz renewed shipping and oil-market uncertainty.
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