QQQ is trading 1.5% up today as the tech-heavy index surges alongside the broader market, fueled by a dominant chip sector rally and easing geopolitical tensions.
- Semiconductor stocks are leading the gains, with AMD jumping 17-19% on an earnings beat, SMCI up 14%, and Intel rising 12.9% amid reports of potential Apple partnerships.
- Market sentiment is further bolstered by progress toward a US-Iran ceasefire memorandum, which has driven oil prices below $100 per barrel and significantly reduced inflation fears.