NEW YORK, June 15, 2026, 13:03 (EDT)
- Invesco QQQ Trust jumped roughly 3.1% Monday as tech stocks pushed Wall Street higher.
- Crude oil fell after a preliminary U.S.-Iran deal, taking some pressure off inflation and rate-hike fears.
- Leveraged fund TQQQ, which tracks the Nasdaq-100, popped. The 3x levered ETF can magnify bounces and drops alike.
Invesco QQQ Trust jumped Monday as buyers returned to big tech after the U.S. and Iran reached a tentative deal meant to end the Middle East war and reopen the Strait of Hormuz. QQQ was last at $743.54, up $22.20, or 3.1%, hitting an intraday high of $744.71, based on recent prices. Reuters said the Dow set an intraday high and the S&P 500 and Nasdaq gained as the agreement sent crude lower.
The rally had another driver besides geopolitics. Cheaper oil fed right into the rates trade as lower energy prices can ease inflation and give the Fed less reason to keep tightening. Reuters said crude dropped 5%, the lowest since March. “For markets, the Strait is the only thing that matters because its blockage was most pernicious for the global economy,” Macquarie Group global forex and rates strategist Thierry Wizman told Reuters. Reuters
Tech and chip stocks led gains. Reuters reported the Nasdaq Composite up 2.69% late Monday morning. The Philadelphia Semiconductor Index hit a record, rising 4.5%. Micron jumped 9.2% and Nvidia rose 3%. Reuters Investopedia said chip, memory and data-storage stocks drove the rally, with Western Digital, Seagate, Micron, AMD and Intel all notable movers as the AI trade bounced off a recent dip.
This matters for QQQ because the ETF tracks the Nasdaq-100, so investors get exposure to the 100 biggest non-financial stocks on Nasdaq, Invesco says. Invesco The fund’s returns are driven mostly by a handful of giant tech and AI-related names. Morningstar had QQQ’s top 10 stocks at 47% of assets as of April 23, 2026. Nvidia, Apple, Microsoft, Amazon, Broadcom, Alphabet and Meta were among the names at the top.
Leveraged Nasdaq trackers jumped back into play on this rebound. ProShares UltraPro QQQ, or TQQQ, gained about 9.2% to $84.65, while QQQ moved roughly 3.1%. Still, last week hit hard on the downside: 24/7 Wall St. noted TQQQ slumped 14.28% in one session after a 4.8% drop for QQQ, pointing to how leverage flips both ways. 24/7 Wall St. ProShares says TQQQ targets three times the Nasdaq-100’s daily move before fees, but adds that over periods longer than a day, results can swing well off that mark.
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