Jul 30, 2026 · QQQ/SPY Market Review · 91 headlines
QQQ gained 4.01% and SPY 1.90%, leaving QQQ ahead by 2.11 percentage points. QQQ added 1.85 percentage points before the open, 1.39 during regular trading, and 0.74 after hours, while SPY gained less in each active session. Microsoft's 43% Azure growth and later Meta and Amazon AI-spending commitments kept technology prominent. GDP growth missed forecasts while core PCE matched expectations. Apple beat quarterly estimates, then issued softer growth guidance and tighter supply signals. Overnight updates added weak Hormuz traffic and an Iranian report of a drone strike on a U.S. base in Kuwait. Overnight prices were carried, so those later headlines do not have an observed ETF response.
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Microsoft reported 43% Azure growth before the open. Meta later disclosed nearly $700 billion of future AI and cloud commitments, while Amazon outlined about $220 billion of 2026 capital spending and a $496 billion AWS backlog.
Second-quarter GDP growth of 1.5% missed the 2.1% forecast, while June core PCE inflation matched the 3.3% forecast. QQQ rose 0.13% and SPY fell 0.08% during the 15 minutes after the releases.
Apple beat quarterly earnings and sales estimates, then projected 9% to 11% revenue growth versus a 12.1% estimate and warned that supply constraints would worsen. Overnight, Tim Cook said Apple was evaluating additional memory suppliers, and later reporting tied the bottlenecks to underestimated demand.
Kpler data showed weak traffic through the Strait of Hormuz, with only two tankers passing. Iran's military later reported a drone strike on U.S. facilities at Ahmed Al Jaber Air Base in Kuwait.
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