QQQ Futures Drop 0.63% as Retail Sentiment Turns Bearish on War Fears
QQQ•Nasdaq 100 futures tied to QQQ dropped 0.63% overnight after renewed Middle East clashes raised war concerns following a record closing rally. Retail sentiment on the QQQ ETF flipped to bearish despite the Nasdaq Composite’s 0.42% gain driven by Nvidia’s launch of new AI chips and a software stock rally.
1. Futures Slide on Mideast Escalation
Overnight trading saw Nasdaq 100 futures tied to QQQ drop 0.63% as renewed clashes in the Middle East raised concerns over a peace deal with Iran and overshadowed record highs in U.S. benchmarks.
2. Retail Sentiment Turns Bearish
Retail investor sentiment for the QQQ ETF shifted into bearish territory even as SPY maintained bullish readings, reflecting growing caution among individual traders after the recent run-up.
3. Tech Stocks Drive Recent Rally
On Monday, the Nasdaq Composite closed 0.42% higher and the S&P 500 rose 0.26% in record sessions led by Nvidia’s unveiling of PC processors and its new Vera CPU for AI workloads, while software names such as ServiceNow, CrowdStrike and SAP also gained.
