Aug 6, 2026 · QQQ/SPY Market Review · 62 headlines
QQQ finished essentially flat at -0.04% and SPY fell 0.10%, leaving QQQ ahead by 0.06 percentage point. QQQ entered regular trading down 0.93%, then recovered 0.55 point during the session and 0.21 point after the close. SPY moved from a 0.05% opening gain to a loss. Faster productivity, softer unit labor costs and Musalem's rate-hike stance framed policy. AppLovin's revenue miss and Alphabet's $115 billion of bond orders supplied technology and financing context. Overnight, a toll-free Hormuz framework and the reported U.S. euro sale to support the yen added shipping and currency-policy updates.
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Second-quarter nonfarm productivity rose 1.4% and unit labor costs increased 1.3%, below expectations. QQQ fell 0.17% and SPY fell 0.06% during the next 15 minutes. Musalem later said he had favored raising rates at the latest FOMC meeting.
AppLovin's revenue miss accompanied broad premarket software declines, followed by QQQ falling 0.22% and SPY 0.11% over 15 minutes. Alphabet later drew about $115 billion of bond orders, more than four times its planned $25 billion maximum.
Sanctions and insurance rules complicated an earlier Iran-Oman shipping plan. Overnight reporting then described a temporary toll-free framework and a U.S. euro sale to support the yen. Kpler later said only six tankers crossed Hormuz during the week.
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