Aug 5, 2026 · QQQ/SPY Market Review · 58 headlines
QQQ ended down 1.01% while SPY was essentially flat at -0.03%, leaving SPY ahead by 0.99 percentage point. Both opened higher, but during the regular session QQQ lost 1.20 percentage points from its opening bar versus 0.84 for SPY, and the gap widened another 0.22 percentage point after hours. Softer-than-forecast ADP hiring and ISM services readings, Google and Meta AI updates, and a tanker incident were followed overnight by evidence of sharply lower traffic through the Strait of Hormuz and Bab el-Mandeb.
Published
July ADP employment rose by 44,000 versus 68,000 expected and 98,000 previously, while the ISM non-manufacturing PMI was 54.1 versus 54.5 expected. During the following 15 minutes QQQ and SPY rose 0.04% and 0.03% after ADP, then fell 0.18% and 0.07% after the ISM release.
Google reshuffled AI leadership and Meta launched its first coding agent. During the 15 minutes after the Google report, QQQ rose 0.35% and SPY rose 0.21%. After the Meta announcement, QQQ fell 0.16% and SPY fell 0.04%.
UKMTO reported a large explosion near an oil tanker southeast of Aden, with the crew safe. Later shipping data showed only two vessels transited Hormuz and one cargo ship passed Bab el-Mandeb on Wednesday, far below the cited prior-day levels.
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