August 4, 2026 · QQQ/SPY Market Review · 53 headlines
QQQ rose 3.24% and SPY gained 1.98%, leaving QQQ ahead by 1.26 percentage points. QQQ added 1.97 points during regular trading versus 1.30 for SPY. June JOLTS openings and factory orders missed expectations, while the two ETFs advanced after the 10:00 ET releases. AMD beat headline earnings and sales estimates after the close, but QQQ fell 0.40% over the next 15 minutes. SpaceX later outlined plans to use Nvidia systems for its AI services and space-based data centers. Overnight reports moved from a possible 60-day Hormuz agreement to U.S. threats, an Iranian warning of delay, and a Houthi claim that it attacked a Saudi oil tanker. Both curves remained at their 20:00 ET levels overnight.
Published
The June trade deficit was $73.30 billion versus $73.00 billion expected. At 10:00 ET, job openings were 7.359 million versus 7.440 million expected and factory orders fell 0.3% versus a 0.2% rise expected. QQQ gained 0.27% and SPY 0.19% over the next 15 minutes.
QQQ added 1.97 percentage points during regular trading compared with 1.30 for SPY. AMD's earnings and sales beat was followed by a 0.40% QQQ decline over 15 minutes, while its revenue guidance topped expectations. SpaceX later said its future AI services would run exclusively on Nvidia systems.
Treasury Secretary Bessent stressed yen stability and said the Fed should consider enlarging its swap line. Fed officials Paulson and Schmid separately described inflation as too high, with Schmid saying the problem extended beyond energy and reflected supply-demand imbalance.
Iran described talks with Oman as positive during regular trading. Overnight reports then described a possible 60-day interim agreement, a U.S. threat of severe strikes, an Iranian warning that threats would delay an accord, and a Houthi claim that it attacked a Saudi oil tanker in the Red Sea.
QQQ / SPY · 2026-08-04
