Inflation and growth data
Headline PCE reached 3.7% versus 3.6% expected, core PCE matched 3.3%, durable-goods orders rose 1.1% versus 0.4% expected, and the GDP price index was slightly above estimates.
Aug 26, 2026 · QQQ/SPY Market Review · 74 headlines
QQQ finishes up 1.27%, 0.65 points ahead of SPY, alongside Nvidia results and new oil-flow signals
QQQ gained 1.27% and SPY rose 0.62%, leaving QQQ 0.65 percentage points ahead after both opened about 0.14% lower. Headline PCE at 3.7% topped the 3.6% estimate, while core PCE matched 3.3% and durable-goods orders beat expectations. Nvidia's results and guidance, Amazon's plan to deploy 2 million Nvidia chips, Kioxia's new storage factory, and Nvidia's reported $12.9 billion Hugging Face acquisition expanded the AI investment backdrop. After 20:00 ET, reports added record-low U.S. diesel inventories, a tanker strike and recovering Gulf oil flows through Hormuz, stalled Canada trade talks, possible additional U.S. tariffs on China, and container rates at a two-year high.
Published
- QQQ
- +1.27%
- SPY
- +0.62%
- QQQ − SPY
- +0.65%
What shaped the session
Nvidia and AI expansion
Nvidia beat quarterly earnings and sales estimates, gave above-estimate third-quarter sales guidance, and detailed hyperscaler demand and supply constraints. Later reports added Kioxia's new AI-storage factory and Nvidia's agreement to acquire Hugging Face for $12.9 billion.
Oil and shipping flows
U.S. diesel inventories fell to a record seasonal low, a tanker was struck in the Strait of Hormuz, Iraq offered crude for loading outside the strait, and Kuwait and Qatar restored exports to 70% of prewar levels.
Tariffs and freight costs
U.S.-Canada talks were reported stalled over truck tariffs, China opposed a possible additional 7.5% U.S. tariff, and global container freight rates reached a two-year high amid advance shipping and persistent disruptions.
Key news
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