Rates and consumer demand
Consumer confidence fell short of estimates, while Boston Fed President Susan Collins said a near-term rate increase could be appropriate without sustained disinflation.
MarketNewsCurveAug 25, 2026 · 70 headlines
Aug 25, 2026 · QQQ/SPY Market Review · 70 headlines
QQQ pares its opening gain to 0.41% but leads SPY as Hormuz traffic thins and AI financing broadens
QQQ rose 0.41% and SPY 0.20%, leaving QQQ 0.21 percentage points ahead after both pared opening gains. Consumer confidence missed estimates, while Boston Fed President Susan Collins said a near-term rate increase could be appropriate without sustained disinflation. OpenAI's Jalapeno benchmark kept AI-chip competition in view during regular trading. Overnight, Hormuz traffic was reported at 5 commercial vessels versus a 10-day average of 15, while SoftBank weighed as much as $20 billion of bonds to refinance OpenAI investment loans and Korean memory makers planned more Nvidia HBM4 supply.
Published
- QQQ
- +0.41%
- SPY
- +0.20%
- QQQ − SPY
- +0.21%
What shaped the session
Hormuz and oil logistics
Reports moved from a possible sanctions-relief exchange for reopening Hormuz to Iran saying the strait would not reopen immediately, while overnight data showed only 5 commercial vessels against a 10-day average of 15.
AI chips and financing
OpenAI said its Jalapeno chip beat Nvidia's GB300 in tests. Overnight reports added a possible SoftBank bond refinancing of OpenAI loans and plans for more 8-layer HBM4 supply to Nvidia.
Key news
Open
QQQ
+0.72%09:31 $711.39
SPY
+0.37%09:31 $766.27
Regular close
QQQ
+0.61%16:00 $710.63
SPY
+0.31%16:00 $765.83
Full-session range
QQQ
$714.17 / $705.79High 05:58 / Low 08:04
SPY
$768.15 / $763.05High 05:53 / Low 10:31
Full-session end
QQQ
+0.41%04:00 $709.22
SPY
+0.20%04:00 $764.97
QQQ / SPY · Aug 25, 2026 News Curve
QQQ / SPY · 2026-08-25