Official U.S. CPI releaseTue, May 12April 2026
QQQ / SPY · Complete month
May 2026
Replay May 2026 through QQQ/SPY closing paths, intraday turns, recurring news themes, and every daily curve.
- Review days
- 31
- Trading days
- 20
- News
- 1,089
- Recurring news themes
- 6
May 1, 2026 — May 31, 2026
Monthly performance
QQQ ended at +10.56% and SPY at +5.25% from the previous regular close before the month.
Monthly change runs from the final trading-day close before the month to the final trading-day close of the month. Each point on the chart is a trading-day close.
Sessions worth replaying
Strongest QQQ sessionLargest QQQ–SPY divergence
Stronger jobs data and chip tie-ups coincide with a 2.45% QQQ jump
QQQ rose 2.45% and SPY gained 0.85%, leaving QQQ ahead by 1.60 percentage points. April payrolls increased by 115,000 versus a 62,000 forecast, while unemployment held at 4.3%. The preliminary University of Michigan consumer sentiment reading was 48.2. Iran-related updates ranged from U.S. airstrikes and clashes near Hormuz to Iran reviewing a U.S. proposal to end the war. Apple and Intel reached a preliminary chip-making agreement. Overnight, the Fed financial stability report highlighted geopolitical, oil and AI-financing risks, while Anthropic signed a seven-year, $1.8 billion Akamai cloud agreement.
3 session driversLabor and consumer data6 key headlinesExpress News | US Apr. Non-Farm Payrolls +115000 Vs +62000 Forecast, Prior +185000; US Apr. Unemployment Rate 4.3% Vs 4.3% Forecast, Prior 4.3%
Regular session · Close 16:00 ET
QQQ+2.33%
SPY+0.81%
Weakest QQQ sessionWeakest SPY session
QQQ slides 1.90% as U.S.-China agreements, AI funding and Iran risk unfold
QQQ and SPY opened 1.34% and 0.85% below the prior close and were down 1.90% and 1.45% by 4:00 a.m. ET the next day. SPY led by 0.45 percentage point. U.S.-China trade and diplomatic agreements, large AI financing, Iran and Hormuz developments, and fresh U.S. industrial-production and Federal Reserve transition news framed the day.
4 session driversU.S.-China agreements6 key headlinesXi Accepts Invitation for U.S. State Visit This Fall After Trump Visits China
Regular session · Close 16:00 ET
QQQ-1.51%
SPY-1.21%
Strongest SPY session
QQQ outpaces SPY as AI infrastructure, labor and Iran remain in focus
QQQ rose 1.89% and SPY gained 1.28%, leaving QQQ ahead by 0.62 percentage points. April ADP employment increased by 109,000, below the 118,000 forecast. Fed official Alberto Musalem said inflation remained meaningfully above target. Nvidia and Corning announced a long-term optical-connectivity agreement involving three new U.S. factories and more than 50% additional fiber output. Anthropic secured more than 300 megawatts of SpaceX computing capacity. Iran-related headlines covered proposed nuclear-deal terms and a tanker incident in the Gulf of Oman.
3 session driversAI infrastructure expansion6 key headlinesExpress News | US April ADP Nonfarm Employment Change +109000 Vs +118000 Forecast, Prior +62000
Regular session · Close 16:00 ET
QQQ+2.05%
SPY+1.38%
Strongest intraday rebound
QQQ falls 1.18% and trails SPY amid inflation, policy and chip news
QQQ and SPY opened 0.72% and 0.32% below the prior close. By 4:00 a.m. ET the next day, QQQ was down 1.18% and SPY was down 0.36%, leaving QQQ 0.82 percentage point behind. Above-forecast inflation, broad semiconductor weakness, oil and regional risk, and tariff and China-trade developments defined the session's news.
4 session driversInflation pressure6 key headlinesExpress News | US Apr. CPI YoY +3.8% Vs +3.7% Forecast, Prior +3.3%
Regular session · Close 16:00 ET
QQQ-0.85%
SPY-0.15%
Calmest session
QQQ closes 2.14% higher, with AMD, Iran and rates framing the day
QQQ rose 2.14% and SPY gained 1.18%, leaving QQQ ahead by 0.96 percentage points. Hegseth described Project Freedom as temporary and said the U.S. was moving to restore commercial traffic through the Strait of Hormuz. March job openings edged down to 6.87 million while the hires rate rebounded to 3.5%. The 30-year Treasury yield crossed 5%. After the close, AMD reported 38% revenue growth and 57% data-center growth. Overnight, Rubio said the Iran offensive had concluded and Project Freedom was paused, while Anthropic committed about $200 billion to Google Cloud over five years.
3 session driversIran operations and Hormuz commerce6 key headlinesHegseth Says Project Freedom Is Temporary as U.S. Moves to Reopen Strait of Hormuz Commerce
Regular session · Close 16:00 ET
QQQ+1.29%
SPY+0.80%
Busiest news day
Mixed data and AI financing frame QQQ's 0.84% gain and 0.22-point lead over SPY
QQQ moved from a 0.03% higher open to a 0.84% gain, while SPY rose from a 0.03% lower open to a 0.62% advance. QQQ led by 0.22 percentage points at the end. Core PCE inflation matched the 3.3% forecast, first-quarter growth missed estimates and durable-goods orders beat forecasts. Fed officials discussed the conditions for a possible rate cut. Reports also covered proposed U.S. stakes in drone companies, shifting U.S.-Iran negotiations, Anthropic financing and Dell's AI-server growth.
4 session driversMixed data and the Fed rate path6 key headlinesExpress News | US Apr. Core PCE Price Index YoY +3.30% Vs +3.30% Forecast, Prior +3.20%
Regular session · Close 16:00 ET
QQQ+0.83%
SPY+0.56%
Recurring news themes
See which themes kept returning during the month and how many review days they appeared in.
01
Geopolitics
203 related news items · 28 review days
18.9%-2.2 pp vs prior 3 months
02Semiconductors
110 related news items · 19 review days
10.2%+2.4 pp vs prior 3 months
03AI
188 related news items · 18 review days
17.5%+1.5 pp vs prior 3 months
04China
70 related news items · 17 review days
6.5%+2.7 pp vs prior 3 months
05Oil
67 related news items · 16 review days
6.2%-4.2 pp vs prior 3 months
06Microsoft
40 related news items · 16 review days
3.7%+1.1 pp vs prior 3 months
Topic counts are descriptive coverage measures. They do not measure price impact.
CPI
Official event-study dates
All daily reviews
Trading days show QQQ/SPY closing moves alongside the day’s news. Market-closed dates keep their news timelines.
QQQ gains 0.87% amid manufacturing strength and memory-price signals, leading SPY by 0.68 points
QQQ opened 0.21% higher and finished up 0.87%. SPY opened up 0.36% and ended 0.19% higher, leaving QQQ ahead by 0.68 percentage points. A stronger S&P Global manufacturing reading, softer ISM headline and employment figures, Apple guidance, and memory-price developments framed the technology-heavy advance. Iran and Hormuz negotiations, tariff signals, and later Fed dissent kept geopolitical, trade, and rate risks active. The clearest selected continuation followed the S&P Global PMI release, although both ETFs had already risen beforehand. Other selected headlines were accompanied by smaller moves or lacked complete pre-market price evidence.
3 session driversManufacturing and inflation signals6 key headlinesUSA S&P Global Manufacturing PMI For April 54.5 Vs 54.0 Est.
Regular session · Close 16:00 ET
QQQ+0.96%
SPY+0.28%
Earnings breadth, Iran diplomacy and fuel pressure shape the weekend backdrop
U.S. markets were closed, leaving no QQQ or SPY session move or 15-minute price reaction. Of reporting S&P 500 companies, 82% beat EPS estimates and 78% posted year-over-year earnings growth. Iran submitted a 14-point, 30-day proposal to end the war, while Trump doubted it could be accepted. The United States approved more than $8.6 billion in arms sales to Gulf allies. Gasoline reached $4.43, up 61% since December amid Hormuz uncertainty. Spirit Airlines stopped flying and moved toward liquidation. Sean Duffy said the collapse was self-made, not caused by the Iran war.
3 session driversEarnings breadth5 key headlinesEarnings Scoreboard: 82% of S&P 500 Reporting Firms Top EPS Estimates as 78% of Firms Post Y/Y Earnings Growth
Market closed · No intraday price curve
Closed markets leave focus on OPEC+ supply, AI labor cuts and European factories
U.S. markets were closed, so QQQ and SPY had no session move or reportable 15-minute price reaction. Seven OPEC+ producers said they would add 188,000 barrels per day from June. Trump launched Project Freedom to guide stranded ships out of Hormuz, while Iran called it a ceasefire violation. Tech layoffs reached 81,000 in Q1 2026, up 580% from Q4 2025 amid AI infrastructure spending. France's April manufacturing PMI was 52.8, matching estimates and up from 50.0. Germany's was 51.4, above the 51.2 estimate but below 52.2. Other retained context included an expected DRAM shortage through 2027 and California gasoline above $6 per gallon.
3 session driversOil supply and Hormuz navigation5 key headlinesOPEC+ Lifts Output Quotas, Adding 188K Barrels Daily to Global Supply
Market closed · No intraday price curve
QQQ and SPY edge lower as Iran-UAE escalation shares focus with AI
QQQ fell 0.32% and SPY lost 0.40%, leaving QQQ ahead by 0.08 percentage points. Iran-UAE risk stayed prominent after a drone attack and fire at a Fujairah petroleum site. The UAE later reported intercepting 12 ballistic missiles, 3 cruise missiles and 4 UAVs, with three moderate injuries. OpenAI finalized a $10 billion AI deployment venture, while S&P 500 Q1 2026 earnings growth tracked 27.1%, the highest since Q4 2021. Williams projected 3% inflation this year and 2% by 2027, and put the monthly job-market breakeven at zero to 50,000 jobs. March factory orders rose 1.5%, with ex-transport orders up 1.6%.
3 session driversIran-UAE escalation and oil-shipping risk5 key headlines'UAE's Fujairah Says Fire Erupts In Petroleum Industrial Site Following Drone Attack From Iran' - Reuters
Regular session · Close 16:00 ET
QQQ-0.19%
SPY-0.36%
QQQ closes 2.14% higher, with AMD, Iran and rates framing the day
QQQ rose 2.14% and SPY gained 1.18%, leaving QQQ ahead by 0.96 percentage points. Hegseth described Project Freedom as temporary and said the U.S. was moving to restore commercial traffic through the Strait of Hormuz. March job openings edged down to 6.87 million while the hires rate rebounded to 3.5%. The 30-year Treasury yield crossed 5%. After the close, AMD reported 38% revenue growth and 57% data-center growth. Overnight, Rubio said the Iran offensive had concluded and Project Freedom was paused, while Anthropic committed about $200 billion to Google Cloud over five years.
3 session driversIran operations and Hormuz commerce6 key headlinesHegseth Says Project Freedom Is Temporary as U.S. Moves to Reopen Strait of Hormuz Commerce
Regular session · Close 16:00 ET
QQQ+1.29%
SPY+0.80%
QQQ outpaces SPY as AI infrastructure, labor and Iran remain in focus
QQQ rose 1.89% and SPY gained 1.28%, leaving QQQ ahead by 0.62 percentage points. April ADP employment increased by 109,000, below the 118,000 forecast. Fed official Alberto Musalem said inflation remained meaningfully above target. Nvidia and Corning announced a long-term optical-connectivity agreement involving three new U.S. factories and more than 50% additional fiber output. Anthropic secured more than 300 megawatts of SpaceX computing capacity. Iran-related headlines covered proposed nuclear-deal terms and a tanker incident in the Gulf of Oman.
3 session driversAI infrastructure expansion6 key headlinesExpress News | US April ADP Nonfarm Employment Change +109000 Vs +118000 Forecast, Prior +62000
Regular session · Close 16:00 ET
QQQ+2.05%
SPY+1.38%
Rates, tariffs and AI spending intersect as QQQ slips 0.15%
QQQ fell 0.15% and SPY declined 0.33%, leaving QQQ ahead by 0.18 percentage points. Weekly initial jobless claims were 200,000, below the 205,000 forecast, while Fed officials emphasized persistent inflation and an extended rate hold. CoreWeave posted 112% revenue growth and a $99.4 billion backlog, but heavy expansion widened its adjusted net loss. A U.S. court ruled Trump's 10% global tariff invalid. Iran headlines moved from proposed Hormuz shipping lanes to U.S. strikes and a statement that the ceasefire remained in effect. Overnight, Nvidia and IREN outlined up to $2.1 billion of investment, a $3.4 billion GPU-cloud deal and as much as 5 gigawatts of AI infrastructure.
3 session driversLabor, inflation and Fed policy6 key headlinesExpress News | US Weekly Initial Jobless Claims 200000 Vs 205000 Forecast, Prior 190000
Regular session · Close 16:00 ET
QQQ-0.12%
SPY-0.31%
Stronger jobs data and chip tie-ups coincide with a 2.45% QQQ jump
QQQ rose 2.45% and SPY gained 0.85%, leaving QQQ ahead by 1.60 percentage points. April payrolls increased by 115,000 versus a 62,000 forecast, while unemployment held at 4.3%. The preliminary University of Michigan consumer sentiment reading was 48.2. Iran-related updates ranged from U.S. airstrikes and clashes near Hormuz to Iran reviewing a U.S. proposal to end the war. Apple and Intel reached a preliminary chip-making agreement. Overnight, the Fed financial stability report highlighted geopolitical, oil and AI-financing risks, while Anthropic signed a seven-year, $1.8 billion Akamai cloud agreement.
3 session driversLabor and consumer data6 key headlinesExpress News | US Apr. Non-Farm Payrolls +115000 Vs +62000 Forecast, Prior +185000; US Apr. Unemployment Rate 4.3% Vs 4.3% Forecast, Prior 4.3%
Regular session · Close 16:00 ET
QQQ+2.33%
SPY+0.81%
Fed timing, AI investment and profit breadth lead Saturday's market news
U.S. equities were closed, leaving QQQ and SPY unchanged at the prior regular-session close. The main developments were a later expected Fed rate cut, broad earnings growth, Nvidia and ByteDance AI investment, and wearable-device development.
3 session driversRate-path reassessment5 key headlinesGoldman Sachs Delays Its Expected Fed Rate Cut to December 2026
Market closed · No intraday price curve
Hormuz security, a China state visit and foreign holdings shape Sunday news
U.S. equities were closed, leaving QQQ and SPY unchanged at the prior regular-session close. The main developments centered on Strait of Hormuz security and energy risks, a planned U.S. state visit to China, and record foreign allocations to U.S. stocks.
3 session driversHormuz security and energy5 key headlinesUK Deploys HMS Dragon for Planned Strait of Hormuz Escorts
Market closed · No intraday price curve
QQQ gains 0.30% alongside AI financing, record oil releases and Iran risk
QQQ and SPY reversed modest negative opening gaps and stood 0.30% and 0.23% above the prior close by 4:00 a.m. ET. QQQ led by 0.07 percentage point. AI financing and deployment, a record Strategic Petroleum Reserve release and renewed Iran tension framed the day's news.
3 session driversAI and chip capital6 key headlinesBroadcom in Talks for About $35 Billion in AI-Chip Financing
Regular session · Close 16:00 ET
QQQ+0.30%
SPY+0.22%
QQQ falls 1.18% and trails SPY amid inflation, policy and chip news
QQQ and SPY opened 0.72% and 0.32% below the prior close. By 4:00 a.m. ET the next day, QQQ was down 1.18% and SPY was down 0.36%, leaving QQQ 0.82 percentage point behind. Above-forecast inflation, broad semiconductor weakness, oil and regional risk, and tariff and China-trade developments defined the session's news.
4 session driversInflation pressure6 key headlinesExpress News | US Apr. CPI YoY +3.8% Vs +3.7% Forecast, Prior +3.3%
Regular session · Close 16:00 ET
QQQ-0.85%
SPY-0.15%
QQQ rises 1.56% amid hot PPI, tariff talks and chip headlines
QQQ finished 1.56% above the previous close and SPY gained 0.73%, leaving QQQ ahead by 0.83 percentage points. A hotter-than-forecast PPI print coincided with a sharp premarket dip. Tariff-cut reports and chip-sector developments then framed the recovery and later volatility.
3 session driversInflation and the rate path5 key headlinesExpress News | US April PPI YoY +6.0% Vs +4.9% Forecast, Prior +4.3%
Regular session · Close 16:00 ET
QQQ+1.02%
SPY+0.56%
SPY narrowly leads a 0.7% gain as import prices, Iran talks and chip policy share focus
QQQ finished 0.70% above the previous close and SPY gained 0.72%, leaving SPY ahead by 0.02 percentage points. A hotter import-price reading, Fed commentary, U.S.-China discussion concerning Iran and semiconductor developments framed a session in which the two indexes stayed closely matched.
3 session driversInflation and policy signals5 key headlinesUSA Import Price Index (MoM) For April 1.9% Vs 1.0% Est.
Regular session · Close 16:00 ET
QQQ+0.70%
SPY+0.79%
QQQ slides 1.90% as U.S.-China agreements, AI funding and Iran risk unfold
QQQ and SPY opened 1.34% and 0.85% below the prior close and were down 1.90% and 1.45% by 4:00 a.m. ET the next day. SPY led by 0.45 percentage point. U.S.-China trade and diplomatic agreements, large AI financing, Iran and Hormuz developments, and fresh U.S. industrial-production and Federal Reserve transition news framed the day.
4 session driversU.S.-China agreements6 key headlinesXi Accepts Invitation for U.S. State Visit This Fall After Trump Visits China
Regular session · Close 16:00 ET
QQQ-1.51%
SPY-1.21%
Tariff accord, OpenAI restructuring and Iran risk lead Saturday news
U.S. equities were closed, leaving QQQ and SPY unchanged at the prior regular-session close. Saturday's main developments were a tentative U.S.-China tariff agreement, OpenAI's reported product-team restructuring, Iran-linked inflation risk, and new signals around Microsoft holdings and smartphone pricing.
4 session driversU.S.-China tariff talks5 key headlinesChina Says Beijing and Washington Reached Tentative Tariff Agreement
Market closed · No intraday price curve
Trade boards, Arm scrutiny and a UAE drone strike shape Sunday news
U.S. equities were closed, leaving QQQ and SPY unchanged at the prior regular-session close. Sunday's developments centered on new U.S.-China trade institutions and farm-purchase commitments, escalating Iran-related security risks that accompanied Brent crude above $110, and a reported FTC investigation into Arm's chip-licensing practices.
3 session driversU.S.-China trade framework5 key headlinesDrone Strike Near UAE Nuclear Plant Sends Brent Above $110, Dow Futures Down 240 Points
Market closed · No intraday price curve
SPY holds near flat while QQQ slips 0.34% amid Iran and AI headlines
By 4:00 a.m. ET, QQQ was down 0.34% and SPY was nearly flat, leaving QQQ behind by 0.30 percentage points. Both indexes rose before the open, fell to afternoon lows and then recovered part of the decline. Iran and oil-policy headlines framed intraday risk, while later AI news included Nvidia's Vera rollout, Meta workforce changes and a $5 billion Blackstone-Google TPU venture.
3 session driversIran and oil-policy risk6 key headlinesU.S. Official Denies Report of Iran Oil-Sanctions Waiver
Regular session · Close 16:00 ET
QQQ-0.45%
SPY-0.08%
QQQ and SPY fall about 0.5% as Iran and trade headlines frame the session
By 4:00 a.m. ET, QQQ was down 0.51% and SPY was down 0.60%, leaving QQQ ahead by 0.08 percentage points. Both ETFs opened lower and remained down through the day. Iran and Hormuz developments dominated the intraday geopolitical backdrop, while later reports pointed to progress in U.S.-Iran talks and initial U.S.-China trade consensus. The EU also confirmed a U.S. trade pact late in the day.
2 session driversIran risk and diplomacy6 key headlinesVance Says U.S.-Iran Negotiations Made Significant Progress
Regular session · Close 16:00 ET
QQQ-0.61%
SPY-0.66%
QQQ gains 0.96% and SPY adds 0.62% as diplomacy and AI news share focus
By 4:00 a.m. ET, QQQ was up 0.96% and SPY was up 0.62%, leaving QQQ ahead by 0.33 percentage points. Both ETFs advanced during regular trading before giving back part of their gains after the close. Reports that a U.S.-Iran agreement was nearing completion supported a more diplomatic geopolitical backdrop, while the FOMC minutes kept possible policy tightening in view. After-hours technology news included NVIDIA results and outlook above estimates, followed by SpaceX's S-1 filing.
3 session driversIran diplomacy and Hormuz risk5 key headlinesExpress News | Al Arabiya reported: The U.S.-Iran agreement text is in the final polishing stage and is expected to be released within hours.
Regular session · Close 16:00 ET
QQQ+1.65%
SPY+1.03%
QQQ reverses a lower open and gains 0.54% as economic signals diverge
QQQ opened 0.59% below its previous close and finished 0.54% higher. SPY moved from a 0.35% decline at the regular open to a 0.39% gain, while QQQ led by 0.15 percentage points. U.S. data were mixed: the Philadelphia Fed manufacturing index missed sharply, but the S&P Global manufacturing PMI exceeded expectations. AI headlines spanned a planned security order, proposed federal stakes in quantum companies, and reported OpenAI revenue growth. After the close, an Iranian source said no agreement had been reached despite narrower gaps. The acting Navy secretary said a $14 billion Taiwan arms sale was paused to ensure enough U.S. munitions for the Iran war.
3 session driversMixed U.S. economic data6 key headlinesUSA S&P Global Manufacturing PMI For May 55.3 Vs 53.8 Est
Regular session · Close 16:00 ET
QQQ+0.18%
SPY+0.20%
AI chip news and hawkish Fed signals accompany modest QQQ and SPY gains
QQQ opened 0.48% above its previous close, reached a 0.99% intraday gain, and finished up 0.11%. SPY gained 0.14% and led by 0.02 percentage points. Premarket reports said China's April chip exports doubled to $31 billion and its U.S. Treasury holdings hit the lowest level since 2008. Michigan consumer sentiment missed estimates at 44.8 versus 48.2. Fed Governor Christopher Waller then said a hike or cut was equally likely as the Fed's next move. In the 15 minutes after the sentiment release, the ETFs declined about 0.26% amid seven nearby headlines. Overnight chip-tariff and Iran reports lacked observed price comparisons because overnight prices were interpolated.
3 session driversSemiconductors and China6 key headlinesMichigan Consumer Sentiment For May 44.8 Vs 48.2 Est
Regular session · Close 16:00 ET
QQQ+0.41%
SPY+0.39%
Market closed as U.S.-Iran deal reports, SpaceX test and Russell changes shape Saturday news
U.S. equities were closed for the weekend, leaving QQQ and SPY at Friday's carried closes. Headlines shifted from early U.S.-Iran escalation to reports of a largely finalized agreement and uranium terms, alongside a SpaceX test flight and Russell index changes.
3 session driversU.S.-Iran turn5 key headlinesTrump says a U.S.-Iran agreement is largely finalized, while Iran says a memorandum is in its final stage
Market closed · No intraday price curve
Iran talks, a Strait framework and Huawei's chip roadmap lead Sunday headlines
U.S. equities were closed for the weekend, leaving QQQ and SPY at Friday's carried closes. Reports pointed to another round of U.S.-Iran talks, an unsigned framework to restore Strait of Hormuz shipping and Iran's denial that a nuclear agreement had been reached. Separate headlines covered delayed Tomahawk deliveries to Japan and Huawei's semiconductor roadmap.
3 session driversIran diplomacy and shipping5 key headlinesU.S. and Iran reportedly agree on a framework to reopen the Strait of Hormuz, but no agreement has been signed
Market closed · No intraday price curve
Memorial Day closure puts Iran risks and semiconductor supply headlines in focus
U.S. equities were closed for Memorial Day, leaving QQQ and SPY at Friday's carried closes. Reports covered a 60-day U.S.-Iran ceasefire extension, a framework for reopening the Strait of Hormuz and escalating Israeli and U.S. strikes in the region. Semiconductor headlines included Huawei's Tau Law, Micron's warning of shortages beyond 2026 and Nvidia's advance memory procurement. Russia separately warned foreign nationals to leave Kyiv.
3 session driversIran diplomacy and escalation5 key headlinesThe U.S.-Iran deal remains contested as Israel intensifies strikes against Hezbollah in Lebanon
Market closed · No intraday price curve
QQQ gains 1.84% and outpaces SPY as chip and AI headlines fill the day
QQQ opened 1.17% above its previous close and finished up 1.84%. SPY ended up 0.70%, leaving QQQ ahead by 1.14 percentage points. U.S. consumer confidence reached 93.1 versus the 91.9 estimate. Chip and technology headlines included a reported Qualcomm AI-chip agreement with ByteDance, a Meta notice covering 1,395 planned layoffs and SK Hynix seeking five-year supply contracts. USTR said a 10% global tariff could return after July. The Qualcomm headline was followed by declines of 0.17% in QQQ and 0.09% in SPY over 15 minutes, with two nearby headlines. Overnight items lacked observed price comparisons because prices were interpolated.
3 session driversConsumer confidence6 key headlinesU.S. consumer confidence rises to 93.1 in May, above the 91.9 estimate
Regular session · Close 16:00 ET
QQQ+1.77%
SPY+0.65%
QQQ reverses lower as semiconductor investment and shifting Iran strike risk frame the day
QQQ opened 0.37% above its prior close but ended 0.34% lower, while SPY moved from a 0.04% higher open to a 0.07% decline. SPY led by 0.27 percentage points at the end. Semiconductor headlines included TSMC's incentive increase, Nvidia's planned Taiwan spending and Marvell's earnings beat. U.S.-Iran reports shifted between ceasefire progress, unresolved terms and preparations for possible further strikes. QQQ lost more ground than SPY during regular trading and after hours.
3 session driversSemiconductor and AI investment4 key headlinesNvidia plans to raise annual Taiwan spending to $150 billion
Regular session · Close 16:00 ET
QQQ-0.11%
SPY-0.02%
Mixed data and AI financing frame QQQ's 0.84% gain and 0.22-point lead over SPY
QQQ moved from a 0.03% higher open to a 0.84% gain, while SPY rose from a 0.03% lower open to a 0.62% advance. QQQ led by 0.22 percentage points at the end. Core PCE inflation matched the 3.3% forecast, first-quarter growth missed estimates and durable-goods orders beat forecasts. Fed officials discussed the conditions for a possible rate cut. Reports also covered proposed U.S. stakes in drone companies, shifting U.S.-Iran negotiations, Anthropic financing and Dell's AI-server growth.
4 session driversMixed data and the Fed rate path6 key headlinesExpress News | US Apr. Core PCE Price Index YoY +3.30% Vs +3.30% Forecast, Prior +3.20%
Regular session · Close 16:00 ET
QQQ+0.83%
SPY+0.56%
QQQ edges SPY as business data, Fed signals and Iran headlines shape a modest advance
QQQ opened 0.31% higher and ended up 0.28%, while SPY moved from a 0.17% higher open to a 0.14% gain. QQQ finished 0.14 percentage points ahead. Chicago PMI beat estimates. Fed officials highlighted persistent inflation and room to hold rates steady. Shifting U.S.-Iran and Hormuz reports supplied additional context.
2 session driversBusiness data and the Fed path4 key headlinesFed's Paulson Says Holding Rates Steady Gives Fed Space To Weigh Data; 'Healthy' For Markets To Shift To Tighter Monetary Policy Outlook
Regular session · Close 16:00 ET
QQQ+0.36%
SPY+0.24%
With U.S. markets closed Saturday, Iran, tariff litigation and AI-tool pricing lead the news
QQQ and SPY remained at Friday's carried closes while U.S. markets were closed. News centered on Iran-related security and negotiations, a tariff-refund appeal, an AUKUS undersea-drone initiative and GitHub Copilot's shift toward token-based billing.
3 session driversIran security and negotiations5 key headlinesUS Fires Hellfire Missile At Fifth Ship Defying Iran Blockade As Nuclear Deal Talks Stall
Market closed · No intraday price curve
Sunday closure frames chip controls, Korean export strength and Fed independence
QQQ and SPY stayed at Friday's carried closes while U.S. markets were shut Sunday. Headlines centered on tighter U.S. AI-chip export controls, record Korean semiconductor exports, Nvidia's Computex announcements, an immediately denied report about Iran's president and Jerome Powell's warning on central-bank independence.
3 session driversChip policy and demand5 key headlinesUS Closes Loophole That Allowed Nvidia, AMD AI Chip Shipments To Chinese Firms Overseas
Market closed · No intraday price curve