MarketNewsCurveOct 23, 2026 · 35 headlines

Oct 23, 2026 · QQQ/SPY Market Review · 35 headlines

QQQ keeps a small gain while SPY falls, with a PMI beat and Riyadh missile report

QQQ opened lower, reached a 0.61% gain at its 10:54 ET high, then ended 0.06% above the prior close. SPY ended 0.37% lower, leaving QQQ ahead by 0.43 percentage points. U.S. manufacturing PMI was 56.0 versus 55.4 expected, and Michigan sentiment was 48.0 versus 46.3 expected. Tanker incidents around Hormuz framed shipping risk. After 20:00 ET, reports on AWS capacity and a missile interception near Riyadh added new context, while the curve carried the last observed prices through 04:00 ET.

Published

Published

QQQ
+0.06%
SPY
-0.37%
QQQ − SPY
+0.43%

What shaped the session

1

U.S. activity and sentiment

Manufacturing PMI beat the estimate and Michigan sentiment also exceeded expectations, giving direct readings on business activity and households.

2

Hormuz and Saudi security

Two reported tanker incidents near Hormuz and an overnight missile interception near Riyadh kept transport and regional security in view.

3

AWS capacity

Amazon’s CEO described AWS capacity as largely sold out through 2027, adding a company-specific AI infrastructure demand signal after trading.

Open
QQQ
-0.26%09:31 $702.63
SPY
-0.46%09:31 $760.47
Regular close
QQQ
-0.01%16:00 $704.39
SPY
-0.53%16:00 $759.91
Full-session range
QQQ
$709.30 / $701.16High 10:54 / Low 09:38
SPY
$764.95 / $758.68High 04:23 / Low 10:28
Full-session end
QQQ
+0.06%04:00 $704.88
SPY
-0.37%04:00 $761.11

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