Invesco QQQ ETF Up 1.07% as IBM Slumps 25% and Futures Rally
The Invesco QQQ Trust rose 1.07% Tuesday as IBM plunged 25%, underperforming Nasdaq 100 by 23%—its worst relative decline since 2000—after Anthropic claimed its AI can analyze COBOL. U.S. futures climbed post–State of the Union, with Nvidia steady, HSBC up 4.43%, Workday down 9.51%, and 10-year yields at 4.05%.
1. QQQ Tuesday Performance
Invesco QQQ Trust Series 1 climbed 1.07% on Tuesday, outpacing the S&P 500 ETF’s 0.73% gain. Technology sector strength and avoidance of major selloffs in key components underpinned the rally in the Nasdaq 100–linked ETF.
2. IBM’s Historic Selloff
International Business Machines Corp shares fell 25% month-to-date, marking the steepest monthly drop since December 1992 and underperforming the Nasdaq 100 by 23%. The plunge accelerated after Anthropic claimed its Claude AI can analyze and interpret decades-old COBOL code, threatening IBM’s legacy systems consulting business.
3. Futures Rally and Sector Movers
U.S. equity futures rose following the State of the Union address, with Nasdaq 100 futures trading higher. Nvidia held steady ahead of earnings, HSBC shares jumped 4.43% on higher net interest income, Workday plunged 9.51% on weak guidance, and the 10-year Treasury yield remained at 4.05%.