Oct 8, 2026 · QQQ/SPY Market Review · 34 headlines
At the final 04:00 ET reading, QQQ was down 1.32% and SPY 0.36% from the prior regular close, leaving SPY ahead by 0.96 percentage point. Both opened lower and reached their regular-session lows near 13:30 ET. QQQ recovered part of its deeper decline but still lagged. OpenAI’s September annualized revenue was reported near $50 billion, and a later report projected at least $70 billion by year-end. New York Fed inflation expectations and a $2 trillion fiscal-deficit estimate kept rates in view. U.S. sanctions on Iranian oil vessels and a later Iranian military statement sustained the Hormuz backdrop. Overnight, Nikkei reported that Apple cut iPhone 18 Pro orders amid weak demand.
Published
The initial OpenAI annualized-revenue report put its September rate near $50 billion. A later report projected at least $70 billion by year-end, while Broadcom sought chip financing and Nvidia-backed Firmus withdrew a planned IPO.
Continuing jobless claims slightly exceeded estimates, the New York Fed survey showed higher inflation expectations, and the CBO estimated a $2 trillion fiscal 2026 deficit.
The U.S. Treasury sanctioned vessels carrying Iranian oil. Houthi warnings and a later Iranian military statement kept Gulf shipping and supply risk in focus.
Nikkei reported that Apple cut iPhone 18 Pro component orders after higher memory costs and handset prices weakened demand.
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