Weekly Recap: QQQ Gains 0.68% While DIA, SPY and IWM Fall
For the week ended October 2, QQQ rose 0.68% while DIA fell 1.23%, SPY 0.22% and IWM 0.16%; the 10-year yield rose 11 basis points to 5.28%.
In the trading week of September 28 through October 2, 2026, the Nasdaq-100 fund QQQ finished higher while the other major index funds ended lower, the Dow fund DIA by the most. Measured from the September 25 close to the October 2 close, QQQ rose 0.68% to 749.58 from 744.50.
DIA, which tracks the Dow Jones Industrial Average, fell 1.23% to 511.10 from 517.49. SPY, which tracks the S&P 500, fell 0.22% to 769.64 from 771.35, and the small-cap IWM declined 0.16% to 281.52 from 281.97. The difference between QQQ's gain and SPY's decline was 0.90 percentage point.
Treasury yields rose over the week. Measured over the same window as the funds, the 10-year yield moved from 5.17% on September 25 to 5.28% on October 2, an increase of 11 basis points. The 2-year yield ended the week at 4.83%, and the effective fed funds rate was 3.88%.
Market risk gauges were moderate at the end of the week. The VIX stood at 15.31 as of October 2, and the high-yield option-adjusted spread was 3.10 percentage points. The broad dollar index was 121.38.
Headlines dated October 3 touched on the cost of borrowing and fuel. CNBC ran a headline saying high interest rates are foreclosing on the American home remodeling dream, while a WSJ article reported that record diesel prices are squeezing truckers, according to its headline. A Seeking Alpha opinion piece was titled "September Jobs Data Backs An October Hold: I See A Problem."
Data
| Instrument | Sep 25 close | Oct 2 close | Weekly change |
|---|---|---|---|
| QQQ | 744.50 | 749.58 | +0.68% |
| SPY | 771.35 | 769.64 | -0.22% |
| IWM | 281.97 | 281.52 | -0.16% |
| DIA | 517.49 | 511.10 | -1.23% |
Data: FMP, FRED. Figures are close-to-close unless stated.
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Neutral market summary for information only; not investment advice.
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