markets
QQQ -2.05% — Breaking
By SNF Research · Independent market intelligence from Sunday Night Futures LLC
QQQ CRACKING — DOWN 2.05% INTRADAY AS JOBS DATA SPOOKS RATE-CUT BETS
May payrolls surged 172,000, smashing estimates, crushing hopes for near-term Fed easing. Tech is absorbing the heaviest selling — QQQ off $15.32 from yesterday's close of $740.61, underperforming SPY's -0.99% by a full percentage point. Breadth is ugly across risk assets: ASTS -7.55%, LCID -5.19%, IWM -1.61%.
AAPL's +0.92% divergence is the lone large-cap bright spot — watch whether it holds or gets dragged down into the close.
Watch: QQQ $720 as the next clean technical level. If SPY $749.47 breaks below $747, expect accelerating selling into the afternoon session.