--- title: "Weekly Recap | SQQQ.US +2.01%, AI spending fear weighs on Nasdaq" type: "News" locale: "en" url: "https://longbridge.com/en/news/302943874.md" description: "SQQQ rose 2.01% this week to close at $39.68, while the S&P 500 fell 0.47%, leaving SQQQ about 2.48 percentage points ahead. The week was anything but one-directional: the intraweek range reached 11.19%. After opening at $37.325 on Monday, the fund churned for two sessions, bottomed at $36.05 on Wednesday, then reversed higher. It reclaimed $39.60 by Thursday before Friday’s round of trading kept it near the upper end of the weekly range." datetime: "2026-10-24T04:54:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/302943874.md) - [en](https://longbridge.com/en/news/302943874.md) - [zh-HK](https://longbridge.com/zh-HK/news/302943874.md) generator: "portal-rs" --- # Weekly Recap | SQQQ.US +2.01%, AI spending fear weighs on Nasdaq ## The Week SQQQ rose 2.01% this week to close at $39.68, while the S&P 500 fell 0.47%, leaving SQQQ about 2.48 percentage points ahead. The week was anything but one-directional: the intraweek range reached 11.19%. After opening at $37.325 on Monday, the fund churned for two sessions, bottomed at $36.05 on Wednesday, then reversed higher. It reclaimed $39.60 by Thursday before Friday’s round of trading kept it near the upper end of the weekly range. ## Invesco QQQ Trust This Week The underlying Invesco QQQ Trust closed at $704.4, down 0.76% for the week with a 3.72% range. QQQ traded sideways around $718 early in the week, touched $725.2 on Wednesday, but saw a sharp down move on Thursday to near $701.9. Friday brought a modest bounce to end at $704.4, leaving the week as a fade after an early consolidation. ## Leverage & Decay This fund tracks negative one times the daily move in QQQ, not negative one times the weekly move. QQQ fell 0.76% over the week, which would imply a simple gain of about 0.76% for a -1x product. SQQQ instead rose 2.01%, a gap of around 1.25 percentage points. That gap reflects daily rebalancing: QQQ moved up and down in alternating sessions, and a -1x product in a choppy path will deviate from the simple linear calculation. In a trending tape, decay tends to be contained; in a two-way, wobbly market, the drag can widen meaningfully. Holding the product over a longer horizon is not equivalent to a straight inverse of the underlying’s cumulative move. ## Invesco QQQ Trust News The dominant thread in the tech complex this week was AI spending anxiety and rate expectations. Early in the week, commentary around the Fed centred on further hikes and the inflationary side effects of the AI boom. Then Nvidia’s leadership flagged a slowdown in AI funding, and Meta’s AI capex pushed its free cash flow negative, contributing to Thursday’s sharp sell-off in the Nasdaq. External shocks also played in: Iran’s threat against undersea cables and crude climbing back above $100. Chip names and large-cap tech traded unevenly, and the Nasdaq 100 as a whole stayed under pressure, consistent with QQQ’s 0.76% weekly decline. ## The Week Ahead The coming week brings US macro and housing data. On 27 October, durable goods orders, new home sales, FHFA house prices, Case Shiller home price indices, the Richmond Fed composite, and consumer confidence are all scheduled. The AI earnings window remains open as well: after Nvidia’s warning about funding slowdown, the key question is whether more corporate results confirm or soften that concern, which in turn matters for QQQ’s direction. ## In Short SQQQ’s positive week did not require a sharp directional drop in QQQ; it came mostly from the mechanics of daily rebalancing in a wobbly tape. Tech stayed under pressure while sentiment remained cautious, with AI spending worries the standout issue. The tension to watch is whether next week’s macro prints and corporate earnings ease or amplify doubts about AI capex sustainability, and whether oil and Middle East headlines continue to rattle risk appetite. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) ## Related News & Research - [CoreWeave CEO Says He Has Buyers for All Its Future AI Capacity but Won’t Sell Yet](https://longbridge.com/en/news/305196611.md) - [INSTANT VIEW-Nvidia board meets to decide CEO Huang's future, source says](https://longbridge.com/en/news/305229382.md) - [Micron Technology (MU) Is Pushing Deeper Into AI Infrastructure](https://longbridge.com/en/news/305114553.md) - [Is the Stock Market Going to Crash? Warren Buffett's Warning Is Hard to Ignore.](https://longbridge.com/en/news/305154637.md) - [Credo Technology Stock Is Surging Wednesday: What's Going On?](https://longbridge.com/en/news/305155753.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**