Jul 16, 2026 · QQQ/SPY Market Review · 63 headlines
QQQ opened 0.79% below its previous close and was down 2.07% by 4:00 a.m. ET on July 17. SPY moved from a 0.27% opening decline to a 0.76% loss, finishing 1.31 percentage points ahead. June retail sales matched the 0.2% estimate, initial claims were 208,000 versus 216,000 expected, the Philadelphia Fed index was 41.4 versus 12.7, and pending home sales fell 5.4% versus a 0.5% decline forecast. Logan called for a modestly higher policy rate. Taiwan Semiconductor raised 2026 capital spending to $60 billion-$64 billion. Other headlines included new 25% U.S. tariffs on Brazil and a pause in Basrah oil loadings after a tanker attack.
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Retail sales matched expectations and initial claims were lower than forecast, while the Philadelphia Fed survey was stronger and pending home sales were substantially weaker than expected. Logan said a modestly higher policy rate would better balance the outlook and risks.
Taiwan Semiconductor raised its 2026 revenue outlook and capital-spending range to $60 billion-$64 billion. Separate updates said its total U.S. semiconductor commitment would reach $265 billion and described a large NVIDIA-Noetra AI factory in Japan.
The U.S. imposed new 25% tariffs on Brazil while expanding exemptions. In energy and shipping, Iraq paused Basrah oil loadings after a tanker drone attack, and Iran threatened a Bab el-Mandeb closure if U.S. strikes hit its power infrastructure.
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