Strasmore Research
市场回顾 Matt Connor作者： Matt Connor · 更新于 2026-07-23

2026年7月8日美股行情回顾

芯片股单日反弹但指数波动不大，NVDA持续上涨，MU领涨，市场整体呈现下跌态势，点击查看详细数据。

2026年7月8日星期三，芯片股出现单日反弹，但对指数影响微乎其微。SNDK收涨 +6.8%，AVGO收涨 +4.82%，NVDA收涨 +3.66% —— 与 周二的芯片股暴跌 相比，涨幅显著反转。然而指数ETF表现平稳：SPY为 -0.31%，QQQ为 +0.25%。全市场下跌股票数量是前一天的两倍：1821只涨股对4260下跌股，而前一交易日的上涨比例为29.6%（33.8%）。以下所有数据均来自存储查询——点击任何面板可查看具体的 SQL 语句。

市场表现

所有变动均将 7 月 8 日常规交易时段的最后一分钟 K 线与 7 月 7 日（周二）进行对比，即连续两个交易日。行按字母顺序排列，因此每只 ETF 的位置固定。

查询SPY / QQQ / DIA / IWM — 7月8日对比7月7日收盘（常规交易时段）
每个数字背后的完整 SQL
WITH prior AS (
    SELECT ticker, argMax(close, window_start) AS prior_close
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('SPY', 'QQQ', 'DIA', 'IWM')
      AND window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00'
    GROUP BY ticker
),
sess AS (
    SELECT ticker,
           argMin(open, window_start) AS day_open,
           argMax(close, window_start) AS day_close,
           max(high) AS day_high,
           min(low) AS day_low,
           round(toFloat64(sum(volume)) / 1e6, 1) AS shares_traded_m
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('SPY', 'QQQ', 'DIA', 'IWM')
      AND window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'
    GROUP BY ticker
)
SELECT
    s.ticker AS ticker,
    round(toFloat64(p.prior_close), 2) AS prior_close,
    round(toFloat64(s.day_open), 2) AS day_open,
    round(toFloat64(s.day_close), 2) AS day_close,
    round((toFloat64(s.day_open) / toFloat64(p.prior_close) - 1) * 100, 2) AS gap_pct,
    round((toFloat64(s.day_close) / toFloat64(s.day_open) - 1) * 100, 2) AS intraday_pct,
    round((toFloat64(s.day_close) / toFloat64(p.prior_close) - 1) * 100, 2) AS pct_change,
    round(toFloat64(s.day_high), 2) AS day_high,
    round(toFloat64(s.day_low), 2) AS day_low,
    s.shares_traded_m
FROM sess s LEFT JOIN prior p ON s.ticker = p.ticker
ORDER BY ticker

这四只 ETF 开盘均出现跳空低开，随后的走势各异。DIA 开盘较前一交易日收盘价下跌 -0.97%，随后进一步走低，最终收跌 -1.09%。IWM 开盘下跌 -0.73%，并持续走低，收跌 -0.92%。SPY 开盘下跌 -0.6%，全天震荡回升，但最终仍收跌 -0.31% —— 开盘后的反弹幅度小于跌幅。QQQ 开盘下跌 -0.64%，随后反弹，收盘涨幅为 +0.25%，是四只 ETF 中唯一实现上涨的。

今日走势是否异常？

SPY 从开盘到收盘的涨跌幅为 0.29%，在 22 个交易日中排名第 16 —— 该指数表现平稳，并非极端行情。QQQ 收盘涨跌幅为 +0.25%，在 22 个交易日中排名第 21 —— 这是 QQQ 过去一个月中涨跌幅最小的交易日之一，与该指数整体平淡的表现相符。

查询SPY / QQQ 在历史背景下的日涨跌幅（收盘价对比收盘价，约22个交易日）
每个数字背后的完整 SQL
SELECT
    round(anyIf(cc_pct, ticker = 'QQQ' AND d = toDate('2026-07-08')), 2) AS qqq_close_over_close_pct,
    arrayCount(x -> x > abs(anyIf(cc_pct, ticker = 'QQQ' AND d = toDate('2026-07-08'))), groupArrayIf(abs(cc_pct), ticker = 'QQQ' AND d != toDate('2026-07-08'))) + 1 AS qqq_abs_move_rank,
    countIf(ticker = 'QQQ') AS qqq_sessions_compared,
    round(anyIf(oc_pct, ticker = 'SPY' AND d = toDate('2026-07-08')), 2) AS spy_open_to_close_pct,
    arrayCount(x -> x > abs(anyIf(oc_pct, ticker = 'SPY' AND d = toDate('2026-07-08'))), groupArrayIf(abs(oc_pct), ticker = 'SPY' AND d != toDate('2026-07-08'))) + 1 AS spy_abs_move_rank,
    countIf(ticker = 'SPY') AS spy_sessions_compared,
    toString(min(d)) AS first_session
FROM (
    SELECT ticker, d,
           (close_px / lagInFrame(close_px) OVER (PARTITION BY ticker ORDER BY d) - 1) * 100 AS cc_pct,
           oc_pct
    FROM (
        SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
               argMax(toFloat64(close), window_start) AS close_px,
               (argMax(toFloat64(close), window_start) / argMin(toFloat64(open), window_start) - 1) * 100 AS oc_pct
        FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker IN ('SPY', 'QQQ')
          AND window_start >= toDateTime('2026-06-05 13:30:00')
          AND window_start < toDateTime('2026-07-09 00:00:00')
          AND (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199
        GROUP BY ticker, d
    )
)

市场宽度：下跌股比例较前一日进一步扩大

查询流动性广度：7月8日上涨股占比对比7月7日（$1M成交额筛选）
每个数字背后的完整 SQL
SELECT
    countIf(close_8 > close_7 AND close_7 > 0 AND dv_8 >= 1000000) AS advancers,
    countIf(close_8 < close_7 AND close_7 > 0 AND dv_8 >= 1000000) AS decliners,
    countIf(close_8 = close_7 AND close_7 > 0 AND dv_8 >= 1000000) AS unchanged,
    countIf(close_7 > 0 AND close_8 > 0 AND dv_8 >= 1000000) AS liquid_tickers,
    countIf(close_7 > 0 AND close_8 > 0) AS traded_both_sessions,
    countIf(close_7 > 0 AND close_8 > 0) - countIf(close_7 > 0 AND close_8 > 0 AND dv_8 >= 1000000) AS dropped_by_liquidity_filter,
    round(100.0 * countIf(close_8 > close_7 AND close_7 > 0 AND dv_8 >= 1000000) / countIf(close_7 > 0 AND close_8 > 0 AND dv_8 >= 1000000), 1) AS advancer_pct,
    round(100.0 * countIf(close_7 > close_6 AND close_6 > 0 AND dv_7 >= 1000000) / countIf(close_7 > 0 AND close_6 > 0 AND dv_7 >= 1000000), 1) AS jul7_advancer_pct
FROM (
    SELECT ticker,
           toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00')) AS close_6,
           toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00')) AS close_7,
           toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00')) AS close_8,
           sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00') AS dv_8,
           sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00') AS dv_7
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-08 20:00:00'
    GROUP BY ticker
)

上涨股 (1821) 与下跌股 (4260) 之间的差距显示，上涨股占比仅为 29.6%，低于前一交易日的 33.8%。两日的计算均采用相同的流动性过滤标准。在连续两天均有收盘价的 11439 只股票中，有 5284 只成交额低于 100 万美元，因此被排除在统计之外。尽管芯片股带动反弹且指数收盘表现不一，但整体市场情绪依然普遍偏向负面。

半导体板块强劲反弹，成交量显著放大

行按字母顺序排列，每家公司位置固定；下表下方的收盘数据基于 7 月 7 日和 7 月 6 日的收盘价计算得出，用于与周二的数据进行对比。

查询14只芯片股：前一交易日收盘、当日收盘、当日波动区间、成交金额、分钟级高低点
每个数字背后的完整 SQL
WITH per_name AS (
    SELECT
        ticker,
        toFloat64(argMaxIf(close, window_start, window_start < '2026-07-08 00:00:00')) AS prior_close,
        toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-08 00:00:00')) AS day_close,
        maxIf(toFloat64(high), window_start >= '2026-07-08 00:00:00') AS day_high,
        minIf(toFloat64(low), window_start >= '2026-07-08 00:00:00') AS day_low,
        argMinIf(window_start, (toFloat64(low), toInt64(toUnixTimestamp(window_start))), window_start >= '2026-07-08 00:00:00') AS low_bar,
        argMaxIf(window_start, (toFloat64(high), -toInt64(toUnixTimestamp(window_start))), window_start >= '2026-07-08 00:00:00') AS high_bar,
        round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-08 00:00:00') / 1e9, 2) AS day_dollar_bn
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('AMD', 'AVGO', 'INTC', 'KLAC', 'LRCX', 'MRVL', 'MU', 'NVDA', 'SNDK', 'SOXL', 'SOXS', 'STX', 'TER', 'WDC')
      AND ((window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00')
        OR (window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'))
    GROUP BY ticker
)
SELECT
    ticker,
    round(prior_close, 2) AS prior_close,
    round(day_close, 2) AS day_close,
    round((day_close / prior_close - 1) * 100, 2) AS pct_chg,
    round(((day_high - day_low) / prior_close) * 100, 2) AS range_pct,
    round(toFloat64(day_low), 2) AS day_low,
    round(toFloat64(day_high), 2) AS day_high,
    toUInt32(toHour(toTimeZone(low_bar, 'America/New_York')) * 60 + toMinute(toTimeZone(low_bar, 'America/New_York'))) AS low_minute_et,
    toUInt32(toHour(toTimeZone(high_bar, 'America/New_York')) * 60 + toMinute(toTimeZone(high_bar, 'America/New_York'))) AS high_minute_et,
    day_dollar_bn
FROM per_name
ORDER BY ticker

在 14 家半导体股票中，12 家收涨，这与 周二交易时段 的情况截然相反，当时 12 家收跌。SNDK 领涨板块，涨幅为 +6.8%，成交额为 16.82B 美元；AVGO 紧随其后，涨幅为 +4.82%；其他存储股也呈现上涨态势——STX +3.9%，WDC +3.45%。3 倍做多基金 SOXL 上涨 +5.79%，而反向基金 SOXS 下跌 -6.22%，这与板块单日反弹的走势一致。MU 涨幅较小，仅为 +1.11%，但成交额达 32.02B 美元，是该板块中成交额最高的股票。NVDA 连续第二个交易日收涨，涨幅为 +3.66%：在经历周二大跌（当日跌幅为 +0.67%）后，该板块仅有 2 家公司能保持收涨。

查询涨跌统计：7月8日与7月7日这14只股票的红绿股数对比
每个数字背后的完整 SQL
SELECT
    countIf(close_8 > close_7) AS jul8_green,
    countIf(close_8 < close_7) AS jul8_red,
    countIf(close_7 > close_6) AS jul7_green,
    countIf(close_7 < close_6) AS jul7_red,
    round(anyIf((close_7 / close_6 - 1) * 100, ticker = 'NVDA'), 2) AS nvda_jul7_pct,
    count() AS names_counted
FROM (
    SELECT ticker,
           toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00')) AS close_6,
           toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00')) AS close_7,
           toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00')) AS close_8
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('AMD', 'AVGO', 'INTC', 'KLAC', 'LRCX', 'MRVL', 'MU', 'NVDA', 'SNDK', 'SOXL', 'SOXS', 'STX', 'TER', 'WDC')
      AND window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-08 20:00:00'
    GROUP BY ticker
)

另一面：防御型股票与增长型巨头未能跟涨

查询板块轮动检查：8只股票 — 防御型、超大盘、生物技术
每个数字背后的完整 SQL
WITH per_name AS (
    SELECT
        ticker,
        toFloat64(argMaxIf(close, window_start, window_start < '2026-07-08 00:00:00')) AS prior_close_raw,
        toFloat64(argMinIf(open, window_start, window_start >= '2026-07-08 00:00:00')) AS day_open_raw,
        toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-08 00:00:00')) AS day_close_raw,
        round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-08 00:00:00') / 1e9, 2) AS day_dollar_bn
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('CRNX', 'CVX', 'JNJ', 'LLY', 'META', 'TSLA', 'UNH', 'XOM')
      AND ((window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00')
        OR (window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'))
    GROUP BY ticker
)
SELECT
    ticker,
    round(prior_close_raw, 2) AS prior_close,
    round(day_open_raw, 2) AS day_open,
    round(day_close_raw, 2) AS day_close,
    round((day_open_raw / prior_close_raw - 1) * 100, 2) AS gap_pct,
    round((day_close_raw / day_open_raw - 1) * 100, 2) AS intraday_pct,
    round((day_close_raw / prior_close_raw - 1) * 100, 2) AS pct_chg,
    day_dollar_bn
FROM per_name
ORDER BY ticker

增长型巨头的走势与芯片板块相反：TSLA -2.22%、META -2.04%、LLY -1.6%。CVX 是该板块中唯一收涨的股票，受早盘跳空影响上涨了 +1.12%；而 XOM 开盘上涨 +1.26%，但收盘时回落至 -0.49%。因此，周三的市场表现呈现两极分化——芯片股上涨，增长股与防御型股票下跌，而指数则在两者之间持平。（行按字母顺序排列：CRNX, CVX, JNJ, LLY, META, TSLA, UNH, XOM。）

资金流向

查询成交金额前6名，成交量前4名 — 7月8日常规交易时段
每个数字背后的完整 SQL
SELECT leaderboard, ticker, dollar_volume_bn, shares_m,
    round(1000 * dollar_volume_bn / shares_m, 2) AS implied_avg_price,
    round(100 * if(leaderboard = 'by dollars traded', dollar_volume_bn, shares_m)
        / max(if(leaderboard = 'by dollars traded', dollar_volume_bn, shares_m)) OVER (PARTITION BY leaderboard), 1) AS pct_of_board_leader
FROM (
    SELECT
        'by dollars traded' AS leaderboard,
        ticker,
        round(sum(toFloat64(close) * toFloat64(volume)) / 1e9, 2) AS dollar_volume_bn,
        round(sum(toFloat64(volume)) / 1e6, 1) AS shares_m
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker
    ORDER BY dollar_volume_bn DESC
    LIMIT 6
    UNION ALL
    SELECT
        'by shares traded' AS leaderboard,
        ticker,
        round(sum(toFloat64(close) * toFloat64(volume)) / 1e9, 2) AS dollar_volume_bn,
        round(sum(toFloat64(volume)) / 1e6, 1) AS shares_m
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker
    ORDER BY shares_m DESC
    LIMIT 4
)
ORDER BY leaderboard, pct_of_board_leader DESC

MU 的成交额达 32.02B 美元 —— 这是交易最活跃的股票，也是唯一成交额超过 300 亿美元的标的。SPY (26.49B)、NVDA (24.17B) 和 QQQ (20.9B) 紧随其后；SNDK 成交额为 16.82B，TSLA 为 11.71B，共同构成了成交额榜单。股票板块则呈现出不同的态势：3 倍做空半导体 ETF SOXS 成交了 636.5M 股，隐含平均价格为 $4.67 —— 这是在芯片股大涨行情下，低价 3 倍杠杆产品的交易特性。

交易时段走势

查询每30分钟交易量分布（常规时段），及占当日最大交易量占比
每个数字背后的完整 SQL
SELECT
    formatDateTime(toStartOfInterval(toTimeZone(window_start, 'America/New_York'), INTERVAL 30 MINUTE), '%H:%i') AS et_time,
    round(sum(toFloat64(volume)) / 1e9, 2) AS shares_bn,
    round(100 * sum(toFloat64(volume)) / max(sum(toFloat64(volume))) OVER (), 1) AS pct_of_biggest_bucket
FROM global_markets.delayed_stocks_minute_aggs
WHERE window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'
GROUP BY et_time
ORDER BY et_time

成交量呈现典型的 U 型走势：开盘阶段的成交量仅为全天峰值的 89.9%，随后在上午持续萎缩，并在东部时间 1:00–1:30 期间降至 34.1% 的低点。收盘前半小时（东部时间 15:30）成交量达到全天峰值，为 2.2B 股，高于开盘时的 1.98B 股，符合常规交易时段的标准模式。

期权行情

查询期权盘面：成交记录、合约数、看涨期权占比、0DTE占比对比周二、热门合约
每个数字背后的完整 SQL
WITH
    (
        SELECT (groupArray(und), groupArray(strike), groupArray(typ), groupArray(vol), groupArray(avg_px), groupArray(is_0dte))
        FROM (
            SELECT any(underlying_symbol) AS und, any(toFloat64(strike_price)) AS strike, any(option_type) AS typ,
                   sum(size) AS vol, round(avg(toFloat64(price)), 3) AS avg_px,
                   if(substring(ticker, length(ticker) - 14, 6) = '260708', 1, 0) AS is_0dte
            FROM global_markets.options_trades
            WHERE sip_timestamp >= '2026-07-08 00:00:00' AND sip_timestamp < '2026-07-09 00:00:00'
            GROUP BY ticker
            ORDER BY vol DESC
            LIMIT 2
        )
    ) AS top2,
    (
        SELECT round(toFloat64(argMax(close, window_start)), 2)
        FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPY' AND window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00'
    ) AS spy_regular_close,
    (
        SELECT round(toFloat64(sum(size)) / 1e6, 2)
        FROM global_markets.options_trades
        WHERE sip_timestamp >= '2026-07-07 00:00:00' AND sip_timestamp < '2026-07-08 00:00:00'
    ) AS jul7_contracts_m,
    (
        SELECT round(100.0 * sumIf(size, substring(ticker, length(ticker) - 14, 6) = '260707') / sum(size), 1)
        FROM global_markets.options_trades
        WHERE sip_timestamp >= '2026-07-07 00:00:00' AND sip_timestamp < '2026-07-08 00:00:00'
    ) AS jul7_pct_0dte
SELECT
    round(count() / 1e6, 2) AS option_prints_m,
    round(toFloat64(sum(size)) / 1e6, 2) AS contracts_m,
    jul7_contracts_m,
    round(100.0 * sumIf(size, option_type = 'C') / sum(size), 1) AS call_pct_of_volume,
    round(100.0 * sumIf(size, substring(ticker, length(ticker) - 14, 6) = '260708') / sum(size), 1) AS pct_0dte,
    jul7_pct_0dte,
    spy_regular_close,
    top2.1[1] AS top1_und, top2.2[1] AS top1_strike, top2.3[1] AS top1_type, top2.4[1] AS top1_contracts, top2.5[1] AS top1_avg_px, top2.6[1] AS top1_is_0dte,
    round(toFloat64(top2.2[1]) - spy_regular_close, 2) AS top1_moneyness
FROM global_markets.options_trades
WHERE sip_timestamp >= '2026-07-08 00:00:00' AND sip_timestamp < '2026-07-09 00:00:00'

综合期权行情显示成交额为 10.44M 美元，成交量为 63.26M 张——高于周二同期水平（基于同一行情数据计算）的 61.13M 张。看涨期权占总成交量的 55.4%，看涨情绪适中。0DTE 期权（当日到期，260708）占总成交量的 38.7%，高于周二的 31.2%。成交最活跃的单一合约是 SPY 745C ——成交量为 677981 张，平均价格为 $0.875；该合约为当日到期，且其行权价几乎等同于 SPY 的收盘价 $745.31。

报价行情

查询股票 NBBO 更新次数：7月8日对比7月7日（含个股更新量，单位：百万）
每个数字背后的完整 SQL
SELECT
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-08')) / 1e6, 2) AS jul8_updates_m,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-07')) / 1e6, 2) AS jul7_updates_m,
    round((countIf(toDate(sip_timestamp) = toDate('2026-07-08')) / countIf(toDate(sip_timestamp) = toDate('2026-07-07')) - 1) * 100, 1) AS day_over_day_pct,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-08') AND ticker = 'SPY') / 1e6, 2) AS jul8_spy_updates_m,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-08') AND ticker = 'QQQ') / 1e6, 2) AS jul8_qqq_updates_m,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-08') AND ticker = 'NVDA') / 1e6, 2) AS jul8_nvda_updates_m,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-08') AND ticker = 'TSLA') / 1e6, 2) AS jul8_tsla_updates_m,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-08') AND ticker = 'MU') / 1e6, 2) AS jul8_mu_updates_m
FROM global_markets.cache_stocks_quotes
WHERE sip_timestamp >= '2026-07-07 00:00:00' AND sip_timestamp < '2026-07-09 00:00:00'

7月8日，股票报价行情共记录了 530.55M 条 NBBO 更新，较前一交易日 增加 7.7%。QQQ 以 6.53M 条更新量位居所有标的之首，其次是 SPY 的 4.93M。NVDA (1.8M)、TSLA (0.72M) 和 MU (0.6M) 也位列其中。

查询SPY / QQQ / NVDA / TSLA / MU / SNDK / AVGO：常规交易时段中值报价价差（基点）
每个数字背后的完整 SQL
SELECT
    ticker,
    round(quantileExact(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000), 2) AS median_spread_bps
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('SPY', 'QQQ', 'NVDA', 'TSLA', 'MU', 'SNDK', 'AVGO')
  AND sip_timestamp >= '2026-07-08 13:30:00' AND sip_timestamp < '2026-07-08 20:00:00'
  AND bid_price > 0 AND ask_price > 0 AND ask_price > bid_price
GROUP BY ticker
ORDER BY median_spread_bps ASC

在七个指定标的中，SPY 的常规交易时段 (RTH) 中值报价价差为 0.27 bps，处于该高流动性美国 ETF 的常规水平。QQQ 的报价价差为 0.71 bps，NVDA 为 1.52 bps。报价频率较低的标的价差较宽：MU 为 5.66 bps，SNDK 为 12.21 bps。

查询SPY 常规交易时段平均报价价差的历史月度排名
每个数字背后的完整 SQL
SELECT
    round(anyIf(avg_spread_cents, d = toDate('2026-07-08')), 3) AS jul8_avg_spread_cents,
    arrayCount(x -> x < anyIf(avg_spread_cents, d = toDate('2026-07-08')), groupArrayIf(avg_spread_cents, d != toDate('2026-07-08'))) + 1 AS tightness_rank,
    count() AS sessions_compared,
    round(min(avg_spread_cents), 3) AS tightest_session_cents,
    round(max(avg_spread_cents), 3) AS widest_session_cents,
    toString(min(d)) AS first_session,
    sum(dropped_invalid) AS dropped_invalid_quotes
FROM (
    SELECT toDate(toTimeZone(sip_timestamp, 'America/New_York')) AS d,
           avgIf(toFloat64(ask_price - bid_price), bid_price > 0 AND ask_price >= bid_price) * 100 AS avg_spread_cents,
           countIf(NOT (bid_price > 0 AND ask_price >= bid_price)) AS dropped_invalid
    FROM global_markets.cache_stocks_quotes
    WHERE ticker = 'SPY'
      AND sip_timestamp >= toDateTime('2026-06-05 00:00:00')
      AND sip_timestamp < toDateTime('2026-07-09 00:00:00')
      AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
    GROUP BY d
)

SPY 在 RTH 时段的平均报价价差为 2.202 美分，在过去 22 个交易日中排名第 11。从价差紧凑度来看，当日表现处于中等水平；过去一个月内，价差范围从 1.809 美分（最紧凑）到 2.865 美分（最宽）。当日未出现流动性缺失或流动性事件，SPY 的报价价差表现属于常规交易。

查询期权 NBBO 盘面：总更新数对比股票盘面，及 SPY 核心部分
每个数字背后的完整 SQL
WITH
    (SELECT count() FROM global_markets.cache_options_quotes WHERE sip_timestamp >= '2026-07-08 00:00:00' AND sip_timestamp < '2026-07-09 00:00:00') AS jul8_options_rows,
    (SELECT count() FROM global_markets.cache_stocks_quotes WHERE sip_timestamp >= '2026-07-08 00:00:00' AND sip_timestamp < '2026-07-09 00:00:00') AS jul8_stock_quote_rows
SELECT
    round(jul8_options_rows / 1e9, 2) AS jul8_options_bn,
    round(jul8_options_rows / jul8_stock_quote_rows, 1) AS options_to_stock_ratio,
    round((SELECT count() FROM global_markets.cache_options_quotes WHERE ticker >= 'O:SPY26' AND ticker < 'O:SPY27' AND sip_timestamp >= '2026-07-08 13:30:00' AND sip_timestamp < '2026-07-08 20:00:00') / 1e6, 0) AS jul8_spy_options_m

期权行情记录了 9.62 十亿 条 NBBO 更新，是股票报价更新量的 18.1 倍。仅 SPY 期权在常规交易时段就产生了 422 百万 条更新。

利率：曲线波动极小

查询国债收益率：7月8日对比7月7日 — 各期限收益率 + 2s10s
每个数字背后的完整 SQL
SELECT
    t.1 AS curve_point,
    round(t.2, 2) AS jul8_yield_pct,
    round((t.2 - t.3) * 100) AS session_change_bp
FROM (
    SELECT arrayJoin([
        ('1 month',  toFloat64(d.yield_1_month),  toFloat64(p.yield_1_month)),
        ('3 month',  toFloat64(d.yield_3_month),  toFloat64(p.yield_3_month)),
        ('1 year',   toFloat64(d.yield_1_year),   toFloat64(p.yield_1_year)),
        ('2 year',   toFloat64(d.yield_2_year),   toFloat64(p.yield_2_year)),
        ('5 year',   toFloat64(d.yield_5_year),   toFloat64(p.yield_5_year)),
        ('10 year',  toFloat64(d.yield_10_year),  toFloat64(p.yield_10_year)),
        ('30 year',  toFloat64(d.yield_30_year),  toFloat64(p.yield_30_year)),
        ('2s10s spread', toFloat64(d.yield_10_year - d.yield_2_year), toFloat64(p.yield_10_year - p.yield_2_year))
    ]) AS t
    FROM (SELECT * FROM global_markets.treasury_yields WHERE date = '2026-07-08') AS d,
         (SELECT * FROM global_markets.treasury_yields WHERE date = '2026-07-07') AS p
)

5年期国债是本次交易中波动最大的品种，涨幅达 +4 bp；2年期国债收涨 +2 bp；其他期限的波动均在 2 bp 以内。这使得 2s10s 利差维持在 0.35%（当日变动 -1 bp），处于近期区间内。利率的平稳走势与指数的平稳走势保持一致。

日历回顾

查询除权、拆股、SEC 文件、新闻热度
每个数字背后的完整 SQL
WITH
    (
        SELECT (count(), uniqExact(publisher))
        FROM global_markets.stocks_news
        WHERE toDate(toTimeZone(published_utc, 'America/New_York')) = '2026-07-08'
    ) AS news,
    (
        SELECT (argMax(t, (n, t)), max(n), max(n) - arraySort(x -> -x, groupArray(n))[2])
        FROM (
            SELECT t, count() AS n
            FROM (
                SELECT arrayJoin(tickers) AS t
                FROM global_markets.stocks_news
                WHERE toDate(toTimeZone(published_utc, 'America/New_York')) = '2026-07-08'
            )
            WHERE t != 'SPCX'
            GROUP BY t
        )
    ) AS top_news
SELECT
    (SELECT count() FROM global_markets.stocks_dividends WHERE ex_dividend_date = '2026-07-08') AS ex_dividend_records,
    (SELECT count() FROM global_markets.stocks_splits WHERE execution_date = '2026-07-08') AS splits_executed,
    (SELECT countIf(toFloat64(split_from) > toFloat64(split_to)) FROM global_markets.stocks_splits WHERE execution_date = '2026-07-08') AS reverse_splits,
    (SELECT countIf(toFloat64(split_to) > toFloat64(split_from)) FROM global_markets.stocks_splits WHERE execution_date = '2026-07-08') AS forward_splits,
    (SELECT countIf(form_type = '424B2') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-08') AS fil_424b2,
    (SELECT countIf(form_type = '4') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-08') AS fil_form4,
    (SELECT countIf(form_type = '8-K') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-08') AS fil_8k,
    (SELECT count() FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-08') AS fil_total,
    news.1 AS news_articles, news.2 AS news_publishers,
    top_news.1 AS top_news_ticker, top_news.2 AS top_news_n, top_news.3 AS top_news_lead_over_next

今日市场事件较少：共有 81 份除息记录、1 份拆股公告，以及 3722 份 SEC 文件（其中包括 775 份 Form 4 内幕交易报告、527 份 424B2 招股说明书及 163 份 8-K 现时报告）。新闻报道共计 192 篇文章，涵盖 3 家出版商；其中 MU 是被提及次数最多的股票，出现在 17 篇文章中。今日未出现显著的知名企业行为，市场走势主要由芯片板块驱动。

交易时段核实

查询交易时段验证：SPY 首末条 K 线（美东时间）、常规交易 K 线数、节假日统计、下次收盘时间
每个数字背后的完整 SQL
SELECT
    formatDateTime(min(toTimeZone(window_start, 'America/New_York')), '%H:%i') AS first_spy_bar_et,
    formatDateTime(max(toTimeZone(window_start, 'America/New_York')), '%H:%i') AS last_spy_bar_et,
    count() AS spy_minute_bars,
    countIf(window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00') AS regular_session_bars,
    uniqExactIf(toDate(toTimeZone(window_start, 'America/New_York')), window_start >= '2026-07-08 13:30:00' AND window_start < '2026-07-08 20:00:00') AS day_sessions,
    (SELECT count() FROM global_markets.stocks_market_holidays WHERE date = '2026-07-08') AS jul8_holiday_rows,
    (SELECT toString(min(date)) FROM global_markets.stocks_market_holidays WHERE date > '2026-07-08' AND status = 'closed') AS next_closure_date,
    (SELECT argMin(name, date) FROM global_markets.stocks_market_holidays WHERE date > '2026-07-08' AND status = 'closed') AS next_closure_name
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPY' AND window_start >= '2026-07-08 00:00:00' AND window_start < '2026-07-09 00:00:00'

本交易时段包含完整的盘前盘后交易窗口 —— SPY 首个 K 线出现在 04:00 ET，最后一个出现在 19:59 ET —— 包含 390 个常规交易时段分钟线，以及该窗口内的 1 个交易时段（非半天交易；节假日列表在此日期无记录）。下次预定收盘时间为 2026-09-07 的 Labor Day。

Data notes

All timestamps are stored in UTC; regular hours on July 8, 2026 are filtered as sip_timestamp / window_start between 2026-07-08 13:30:00 and 2026-07-08 20:00:00, which corresponds to 9:30 am–4:00 pm New York time. Decimal prices are cast to Float64 before any division. Named per-ticker panels (scoreboard, chip complex, rotation) are ordered alphabetically by ticker so each prose reference points at a fixed row; leaderboards (volume, quote snapshot) are value-ordered, and every positional claim they make is encoded as a sanity bound on that position. Every Tuesday comparison on this page — breadth share, chip green/red counts, options contracts and 0DTE share, quote-update counts — is computed fresh from July 7 (and July 6 where a prior close is needed) in the same query block, never quoted from an earlier post.

Full data notes

The breadth panel counts names with a regular-hours close on both sessions and at least $1M traded on the measured day; the dropped count (5284 of 11439) makes the excluded tail visible. The chip complex's day_low/day_high timing columns use the argMin/argMaxIf(..., (value, timestamp)) pattern so ties resolve deterministically. The volume-smile bucket labels are ET (%H:%i), computed with toTimeZone in the SELECT list only. The options-tape panel detects same-day expiry with the OCC-ticker substring match (substring(ticker, length(ticker) - 14, 6)) rather than options_trades.expiration_date (that column is broken, per the standing preflight note). Symbols in KNOWN_AMBIGUOUS_TICKERS are excluded in the volume-leaders and news-attention SQL so "most X" callouts fall through to verifiable names. The top-news ticker uses a deterministic tie-break (argMax(t, (n, t))); top_news_lead_over_next = 0 marks a tie, which is why the prose says "among the most-mentioned". The treasury panel joins two daily snapshot rows; a missing snapshot for either date yields zero rows and the row_count bound holds the post. The stocks-quote and options-quote counts are whole-tape scans over day partitions; named-ticker counts are reported in millions to match their column units. Spread medians use quantileExact (deterministic); the trailing spread panel is an average (avgIf), labeled as such.

方法论

  • 市场数据来源：综合行情数据 —— 指数与个股的价格及成交量采用 delayed_stocks_minute_aggs；NBBO 计数与报价价差采用 cache_stocks_quotes；期权行情采用 cache_options_quotes 和 options_trades。
  • 时区处理：所有存储的时间戳均为 UTC；仅在 SELECT 列表中使用 toTimeZone(..., 'America/New_York') 计算 ET 时间标签；WHERE 子句使用原始 UTC 字面量。
  • 常规交易时段：13:30–20:00 UTC。通过观察 SPY 分钟线（会话验证面板）进行验证，而非基于日历计算。
  • 价差定义：快照数据采用有效双边报价的 (ask - bid) / midpoint × 10,000（以基点计）；滚动月面板采用以美分计的平均宽度，并标注为平均值。
  • 前一交易日对比：在查询中计算，起始日期为 7 月 7 日（周二的环比对比则基于 7 月 6 日）—— 绝不沿用之前的发布内容。
  • 确定性聚合：采用 quantileExact、元组键 argMin/argMax 以及确定性的新闻决胜机制，以确保数据重构的稳定性。
  • 数据仓库截止日期：2026 年 7 月 10 日（该期间的 T+2 日）；两个交易日的行情数据均已完整摄取至此深度。

相关链接：2026 年 7 月 7 日回顾，期权交易成本，买卖价差基础，0DTE 期权，以及 相对成交量。

#recap#daily#spy#qqq#semiconductors#market structure