NVIDIA Leads, Apple Lags as QQQ Sets a Record Close
QQQ closed Friday, October 2, at 749.58, a record that topped its September 22 close of 747.46. Among the four mega-caps we track, NVIDIA led the week with a 3.95% gain and touched a new 52-week high during Friday’s session. Apple was the weakest, down 2.16%. Friday was also the day of the September jobs report, which showed unemployment rising to 4.2% from 4.1%. Stocks rose anyway: SPY gained 0.74% and QQQ 1.02%.
New to reading mega-cap stocks? Start with our guide to Apple, Microsoft, NVIDIA, and Tesla with a weekly scorecard.
Key Market Data (session close: October 2, 2026)
Stock rows reflect the Friday, October 2, 2026 U.S. close. Weekly changes run from the September 25 close. Average volume is each ticker’s average daily volume as reported by Yahoo Finance. Macro rows use each indicator’s own as-of date.
| Ticker | Close (USD) | Daily % Change | Weekly % Change | 52-Week High | Volume | Average Volume |
|---|---|---|---|---|---|---|
| AAPL | 333.69 | +1.02% | -2.16% | 345.34 | 33,245,500 | 46,009,485 |
| MSFT | 517.53 | +0.92% | +0.26% | 553.72 | 17,803,300 | 28,246,107 |
| NVDA | 233.95 | +1.34% | +3.95% | 237.88 | 134,914,600 | 122,619,076 |
| TSLA | 370.59 | +4.65% | -0.41% | 498.83 | 55,242,800 | 38,160,118 |
| SPY | 769.64 | +0.74% | -0.22% | 779.37 | 46,306,400 | 44,210,853 |
| QQQ | 749.58 | +1.02% | +0.68% | 754.54 | 34,467,100 | 35,406,264 |
| Indicator | Latest Value | As Of | Notes |
|---|---|---|---|
| 10-Year Treasury Yield (^TNX) | 5.28% | 2026-10-02 | Daily +0.76%; weekly +1.79% |
| 10-Year Treasury (FRED DGS10) | 5.24% | 2026-10-01 | Official daily series, one session behind ^TNX |
| VIX Index (^VIX) | 15.31 | 2026-10-02 | Daily -6.59%; weekly +2.96% |
| US Dollar Index (DX-Y.NYB) | 101.93 | 2026-10-02 | Daily -0.17%; weekly +0.95% |
| WTI Crude Oil (CL=F) | $91.11 | 2026-10-02 | Daily -1.90%; weekly -1.41% |
| Effective Fed Funds Rate (DFF) | 3.88% | 2026-10-01 | Up from 3.63% since September 17 |
| Unemployment Rate (UNRATE) | 4.2% | 2026-09-01 | September reading, released October 2 |
| CPI Index (CPIAUCSL) | 334.131 | 2026-08-01 | August index level, about 3.4% above a year earlier |
The Week, Name by Name
NVIDIA rose on four of the five sessions and finished at 233.95, up 3.95%. During Friday’s session it reached 237.88, a new 52-week high, before closing about 0.8% below its 52-week closing high of 235.74 from May 14. Friday’s volume was about 110% of average, so the gains came with solid participation.
Microsoft ended almost where it started, up 0.26%. It dipped to 508.96 on Tuesday and recovered by Friday. At 517.53 it is still about 6.5% below its 52-week high of 553.72, set last October.
Apple fell 2.16%. On September 25 it closed at 341.07, its highest close in at least a year, then lost 2.66% on Tuesday. Friday’s 1.02% gain came on only about 72% of average volume.
Tesla finished nearly flat at −0.41%, but the path was rough. It fell more than 5% through Tuesday, then jumped 4.65% on Friday on about 145% of its average volume, the heaviest relative trading of the group. Our data does not include company news, so we cannot say what drove Friday’s move.
Why QQQ Set a Record and SPY Did Not
QQQ gained 0.68% on the week while SPY slipped 0.22%. QQQ’s record close contrasts with SPY, which is still about 1.1% below its August 13 closing high of 777.88.
The gap is wider over a longer stretch. Since our last mega-cap post, for September 11, QQQ is up about 4.9% and SPY about 0.7%. Among our four names, NVIDIA is up about 7.2% and Microsoft about 4.4% over that time, while Tesla gained about 1.4% and Apple 0.4%. QQQ holds 100 companies, and several other large ones we do not track, such as Amazon, Alphabet and Meta, also carry heavy weights. So NVIDIA and Microsoft explain part of QQQ’s lead, not all of it.
Reading Volume Against the Price Move
Volume tells you how many shares changed hands, and comparing it with the average shows how much conviction sat behind a move. A large gain on heavy volume carries more weight than the same gain on light trading.
Friday ranked like this, as a share of average volume: Tesla about 145%, NVIDIA about 110%, SPY about 105%, QQQ about 97%, Apple about 72% and Microsoft about 63%. Tesla’s and NVIDIA’s gains came with above-average trading. Apple’s and Microsoft’s gains of about 1% came on light volume, which makes them weaker evidence of fresh buying.
Jobs Day and Rates
The September jobs report put unemployment at 4.2%, up from 4.1% in July and August but below the 4.4% of a year earlier. Our data includes only the unemployment rate, not payroll growth or wages, so we cannot say which part of the report markets reacted to. What we can see is the result: stocks rose, the VIX fell 6.59% to 15.31, and the 10-year yield rose about 4 basis points to roughly 5.28%.
That last part matters for mega-caps. The 10-year closed at 5.29% on Wednesday, its highest close since May 2002, and the Federal Reserve raised its target range by a quarter point to 3.75%–4.00% in mid-September. Higher rates usually weigh most on growth stocks, yet QQQ set a record this week. For now, the largest technology names are rising despite higher borrowing costs, not because of lower ones.
What to Watch
- NVIDIA near its high. A close above 235.74 would be its highest close in at least a year.
- Apple’s recovery. Whether it gets back to its September 25 close of 341.07 or keeps lagging the group.
- Tesla after Friday. A 4.65% jump on heavy volume is worth watching to see if it holds next week.
- September CPI. The report is due in mid-October. The August index was about 3.4% above a year earlier, and a hotter reading would add to pressure on yields.
This is not financial advice.