QQQ slides further than SPY amid hotter CPI, Hormuz ship reports and TSMC results

By 04:00 ET, QQQ was down 2.89% and SPY 1.40%, leaving SPY ahead by 1.49 percentage points. Both opened lower, and QQQ extended its decline into after-hours trading. September CPI exceeded expectations, while Hormuz ship reports and the Fed Beige Book added context during the session. Anthropic revenue and TSMC earnings and guidance followed later.

Published Oct 15, 2026

QQQ: -2.89%
SPY: -1.40%
QQQ − SPY: -1.49%

What shaped the session

Inflation and Fed

September CPI rose 3.7% from a year earlier versus 3.6% expected and 3.4% previously. The Beige Book later described little or no employment change in most districts and moderate growth in two of twelve districts.

Hormuz shipping

Maritime security sources reported a cargo ship sank after a projectile strike near the Strait of Hormuz, adding a concrete shipping-risk report to the regional backdrop.

AI company revenue

A report citing people familiar said Anthropic third-quarter revenue reached $16.8 billion, a large AI-sector financing and growth data point.

TSMC results and outlook

TSMC reported Q3 net profit of NT$763.064 billion, up 68.7% and above the stated estimate, then lifted its 2026 U.S.-dollar revenue growth view to about 44% from slightly above 40%.

Key news

Loading the full-day price curve…

You can explore the full-day price curve and 6 featured headlines now. Pro adds all 42 headlines, measured 1/5/15/30/60-minute reactions, the complete timeline, and historically similar news.

Already subscribed? to view the full review.

Related market reviews

Oct 10, 2024Also covers CPIQQQ edges up 0.01% as SPY slips 0.06% amid CPI and chip newsQQQ edged up 0.01% while SPY fell 0.06%, leaving QQQ ahead by 0.07 percentage points. September headline and core CPI readings exceeded forecasts, and weekly jobless claims were above estimates. Bostic kept a November rate hold open, while AMD introduced MI325X and Tesla unveiled Cybercab after regular trading.Open review
Jul 14, 2026Also covers CPIQQQ gains 1.45% and leads SPY by 0.93 points alongside cooler CPI and chip updatesQQQ opened 1.20% above its previous close and was up 1.45% by 4:00 a.m. ET on July 15. SPY moved from a 0.23% regular-open gain to 0.52%, leaving QQQ 0.93 percentage points ahead. June CPI rose 3.5% from a year earlier, below the 3.8% forecast and the prior 4.2%, and short-term rate futures rose as traders reduced rate-hike bets. Chip and AI updates included the start of H200 shipments to China, an ASML earnings beat, and New York’s one-year moratorium on new data centers. Replacing the proposed 20% Hormuz fee with trade and investment deals was followed by a renewed U.S. naval blockade and fresh military warnings. Prices after 8:00 p.m. ET were carried.Open review
Jan 13, 2026Also covers CPIQQQ outperforms SPY as softer core CPI meets Iran and AI-chip headlinesQQQ opened 0.13% lower and finished down 0.15%. SPY opened down 0.11% and ended 0.22% lower, leaving QQQ ahead by 0.07 percentage points. December core CPI rose 2.6% year over year versus a 2.7% estimate and 0.2% month over month versus 0.3%, while headline CPI matched estimates. Trump canceled meetings with Iranian officials and urged protests to continue. Meta launched Meta Compute to expand AI data-center and energy investment, and Microsoft pledged that data-center power costs would not be passed to local residents. The United States eased rules for Nvidia H200 exports to China, but Reuters later reported that Chinese customs agents had been told the chips were not permitted.Open review

←Oct 13:SPY stays near flat while QQQ remains lower, with home sales and ASML results in view·View all October 2026 QQQ/SPY reviews·Oct 15:SPY turns positive while QQQ stays lower amid hot PPI and AI funding concerns→