Jul 23, 2026 · QQQ/SPY Market Review · 63 headlines
QQQ finished 1.67% lower and SPY lost 1.15%, leaving QQQ 0.52 percentage point behind. AI and semiconductor updates, Iran-related shipping and military headlines, and macro and tariff policy supplied the session's main context.
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QQQ fell 1.67% and lagged SPY by 0.52 percentage point. Google began selling self-designed AI chips for on-premises use, while Intel later reported adjusted EPS of $0.42 and sales of $16.128 billion, both above estimates.
Iran-backed Houthi forces were reported to have attacked two Saudi oil tankers in the Red Sea. Later, Trump said he was close to deciding on a massive strike against Iran, keeping military and energy-route risk prominent.
The ECB held its deposit and refinancing rates at 2.25% and 2.40%. U.S. initial jobless claims were 187,000 against a 212,000 forecast, while a new U.S. tariff framework later imposed additional duties of 10% to 12.5% with selected exemptions.
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