Rates and growth
Chicago PMI fell to 47.1 against 57.8 expected, while the 10-year Treasury yield moved above 4.75% during a session in which QQQ recovered more than SPY.
MarketNewsCurveAug 31, 2026 · 61 headlines
Aug 31, 2026 · QQQ/SPY Market Review · 61 headlines
QQQ recovers to flat and leads SPY as 10-year yields top 4.75% and Hormuz traffic thins
QQQ recovered from a 0.04% soft open to finish essentially flat at +0.04%, while SPY remained down 0.24%, leaving QQQ ahead by 0.28 percentage points. The day combined a sharp Chicago PMI miss and higher Treasury yields with continuing Hormuz shipping stress, Nvidia's MediaTek investment, and overnight signs of tight AI-memory capacity.
Published
- QQQ
- +0.04%
- SPY
- -0.24%
- QQQ − SPY
- +0.28%
What shaped the session
Hormuz energy flows
A tanker reported an attack while exiting Hormuz, and later Kpler data showed about five vessels crossed the strait, below the roughly 14-vessel ten-day average, with no oil tankers counted.
AI capital and capacity
Nvidia announced a $3.5B MediaTek investment and wider collaboration, while Samsung reportedly allocated about 70% of memory capacity through 2031 to long-term agreements amid AI demand.
Key news
Open
QQQ
-0.04%09:31 $716.11
SPY
-0.25%09:31 $767.39
Regular close
QQQ
+0.05%16:00 $716.82
SPY
-0.31%16:00 $766.95
Full-session range
QQQ
$717.58 / $712.70High 16:00 / Low 04:01
SPY
$768.82 / $764.72High 04:02 / Low 10:27
Full-session end
QQQ
+0.04%04:00 $716.70
SPY
-0.24%04:00 $767.51
QQQ / SPY · Aug 31, 2026 News Curve
QQQ / SPY · 2026-08-31