New York, April 29, 2026, 18:03 EDT
Invesco QQQ Trust edged higher Wednesday, adding $3.99 to $661.57 in the latest trade as investors rotated back into the Nasdaq 100 both ahead of and following a fresh round of megacap tech earnings. Shares shifted between $655.78 and $663.32, with turnover topping 30 million.
The clock was key here. Microsoft, Alphabet, Amazon, and Meta all rolled out their numbers after the bell—giving Wall Street a rapid-fire read on whether the AI investment surge is still driving the big Nasdaq players. Reuters called it a mixed session overall: Nasdaq Composite edged up just 0.04%, S&P 500 slipped 0.04%, and the Dow dropped 0.57%. Investors, according to Matthew Keator of the Keator Group, are zeroed in on what’s next for capital spending and AI.
Action picked up ahead of the bell. TipRanks reported a 0.39% climb for QQQ in premarket Wednesday, adding to a 1.42% advance over the last five sessions. Harianbasis would later attribute the move to gains among semiconductors and big tech, highlighting NXP Semiconductors, Seagate Technology, Western Digital, and Intel.
QQQ trades as an ETF, tracking the Nasdaq-100 Index—a mix of the 100 top non-financial firms on Nasdaq, according to Invesco. That heavy tilt toward large tech and communications names often means just a handful of giants can swing the fund’s performance on any given day.
Peers didn’t follow in lockstep. The SPDR S&P 500 ETF Trust hovered at $711.58, barely budging. The Technology Select Sector SPDR Fund, however, climbed to $159.11. SPDR Dow Jones Industrial Average ETF Trust slipped to $488.67. QQQ ended up tracking tech more closely than the broader market.
Microsoft handed investors fresh figures to chew on: revenue climbed 18% to $82.9 billion in the fiscal third quarter. Azure and cloud services surged 40%. CEO Satya Nadella put the company’s AI business at a $37 billion annual run rate.
Alphabet pushed the narrative too. The company posted a 22% revenue climb, reaching $109.9 billion. Google Cloud surged 63% to $20.0 billion. CEO Sundar Pichai called AI investments a force “lighting up every part of the business.” Q4 Investor Relations
Amazon delivered a mixed bag. Net sales climbed 17% to $181.5 billion, while AWS revenue jumped 28% to $37.6 billion. Still, free cash flow dropped to $1.2 billion over the past year, with spending on property and equipment—mostly related to AI—eating into the total. “AWS is growing 28%,” CEO Andy Jassy said. Amazon
Meta threw out another split signal. The company’s revenue jumped 33% to $56.31 billion. Mark Zuckerberg talked up progress toward “personal superintelligence to billions of people.” But Meta also hiked its 2026 capex guidance—now $125 billion to $145 billion, up from a prior $115 billion to $135 billion—for long-term investments like data centers. Meta
The signal didn’t point just one direction. According to Stock Traders Daily, sentiment for QQQ across multiple time frames leaned overweight, yet the firm also highlighted a short setup targeting roughly 5% downside, risking just 0.3%. Simply put, momentum has room to run, but short-term models remain on alert for a sudden reversal around these levels.
