QQQ loses 0.15% but leads SPY by 0.32 points amid 5.31% long yields and overnight Hormuz incidents

By 04:00 ET, QQQ was down 0.15% and SPY 0.47% after regular-session openings above their prior closes, leaving QQQ 0.32 percentage point ahead. The Empire State Manufacturing Index beat estimates, the 30-year Treasury yield reached 5.31%, AI infrastructure commitments and bond issuance remained prominent, and an overnight UKMTO report of a vessel hit by an unknown projectile extended Hormuz security concerns.