MarketNewsCurveSep 23, 2026 · 35 headlines

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

QQQ trails after a morning slide as manufacturing PMI hits 57.0 and Barr flags more hikes

As of 20:00 ET, QQQ was down 0.89% and SPY 0.78%, leaving SPY ahead by 0.11 percentage points. September manufacturing and services PMI topped estimates and Fed Governor Barr raised the possibility of more hikes. A cargo-ship strike and Iran’s reopening conditions kept Hormuz shipping in focus. Microsoft’s Gulf AI investment and reported TSMC price increases shaped the technology backdrop. Later developments may change this picture.

QQQ
-0.89%
SPY
-0.78%
QQQ − SPY
-0.11%

What shaped the session

1

Activity and rates

September PMI readings exceeded their comparison figures, while Fed Governor Barr said further rate hikes may be needed to return inflation to 2%. These were central macro and policy contexts as both curves fell.

2

Hormuz shipping risk

UKMTO reported a cargo ship strike and two casualties in the Strait of Hormuz. Iran later said reopening would require its conditions to be met, keeping the energy route uncertain.

3

AI infrastructure spending

Microsoft announced another $2 billion for Gulf AI and cloud operations, while a report pointed to 3% to 6% TSMC foundry price rises from January 2027. Together they frame large-cap technology spending and chip costs.

Open
QQQ
-0.20%09:31 $746.00
SPY
-0.11%09:31 $772.53
Regular close
QQQ
-0.84%16:00 $741.17
SPY
-0.73%16:00 $767.75
Full-session range
QQQ
$749.08 / $738.19High 04:01 / Low 10:27
SPY
$774.72 / $766.50High 04:04 / Low 13:05
Full-session end
QQQ
-0.89%20:00 $740.80
SPY
-0.78%20:00 $767.32

QQQ / SPY · Sep 23, 2026 News Curve

QQQ / SPY · 2026-09-23