By Market Recap: July 7, 2026 — The Day in Numbers
A semiconductor break the index barely felt: chips down hard, NVDA green through it, a two-to-one red tape — and SPY quoting its tightest spread in a month.
Tuesday, July 7, 2026 took back the growth half of Monday's reopening pop — and then some: QQQ closed -1.82%, more than erasing its Monday gain, against DIA's -0.29%. Underneath, the tape ran two-to-one red: 4034 liquid decliners against 2091 advancers. The day's real story was a semiconductor break several times the index's size — one the sector's giants sat out. Every number below is read from a stored query — expand any panel for the exact SQL.
The scoreboard
Every change compares July 7's last regular-session minute bar with Monday July 6's — consecutive trading sessions.
The exact SQL behind every number
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 >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 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 >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 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 AS shares_traded_m
FROM sess s
JOIN prior p ON s.ticker = p.ticker
ORDER BY s.tickerQQQ's -1.82% led the four index ETFs lower; SPY closed -0.48%, IWM -0.9%, and DIA's -0.29% was the mildest print. The gap-versus-grind split shows the two ends of the tape disagreeing at the open: QQQ's overnight gap came in at -1.17% and its open-to-close grind at -0.65% — the gap did most of the damage — while DIA gapped up 0.47% and still finished red, its open-to-close move printing -0.76%. Leadership has flipped every session since Thursday: DIA led Thursday, QQQ led Monday, DIA again on Tuesday.
Was the day unusual?
The exact SQL behind every number
SELECT
round(anyIf(cc_pct, ticker = 'QQQ' AND d = toDate('2026-07-07')), 2) AS qqq_close_over_close_pct,
arrayCount(x -> x > abs(anyIf(cc_pct, ticker = 'QQQ' AND d = toDate('2026-07-07'))), groupArrayIf(abs(cc_pct), ticker = 'QQQ' AND d != toDate('2026-07-07'))) + 1 AS qqq_abs_move_rank,
countIf(ticker = 'QQQ') AS qqq_sessions_compared,
round(anyIf(oc_pct, ticker = 'SPY' AND d = toDate('2026-07-07')), 2) AS spy_open_to_close_pct,
arrayCount(x -> x > abs(anyIf(oc_pct, ticker = 'SPY' AND d = toDate('2026-07-07'))), groupArrayIf(abs(oc_pct), ticker = 'SPY' AND d != toDate('2026-07-07'))) + 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('2026-06-04 00:00:00')
AND window_start < toDateTime('2026-07-08 00:00:00')
AND (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199
GROUP BY ticker, d
)
)
WHERE isFinite(cc_pct)At the index level, not especially. QQQ's -1.82% close-over-close move ranks 9 of 21 trailing sessions by absolute size, and SPY's open-to-close move of -0.34% ranks 15 of 21 — a trailing month that includes the late-June memory-complex swings sets a high bar. The dispersion underneath is where July 7 stood out.
Breadth: two falling for every one rising
The exact SQL behind every number
WITH per_ticker AS (
SELECT
ticker,
toFloat64(argMaxIf(close, window_start, window_start < '2026-07-07 00:00:00')) AS prior_close,
toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-07 00:00:00')) AS day_close,
sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-07 00:00:00') AS day_dollar_volume
FROM global_markets.delayed_stocks_minute_aggs
WHERE (window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00')
OR (window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00')
GROUP BY ticker
)
SELECT
countIf(day_close > prior_close AND day_dollar_volume >= 1000000) AS advancers,
countIf(day_close < prior_close AND day_dollar_volume >= 1000000) AS decliners,
countIf(day_close = prior_close AND day_dollar_volume >= 1000000) AS unchanged,
countIf(day_dollar_volume >= 1000000) AS liquid_tickers,
count() AS tickers_traded_both_sessions,
count() - countIf(day_dollar_volume >= 1000000) AS dropped_by_liquidity_filter,
round(100.0 * countIf(day_close > prior_close AND day_dollar_volume >= 1000000)
/ countIf(day_dollar_volume >= 1000000), 1) AS advancer_pct
FROM per_ticker
WHERE prior_close > 0 AND day_close > 02091 advancers, 4034 decliners, 59 unchanged — 33.8% of the liquid tape rose, Monday's green print inverted. The filter drops 5276 of 11460 dual-session tickers under $1 million traded, counted here.
The chip complex broke — except its biggest names
The selling concentrated in semiconductors: the chipmakers, the equipment names that supply them, the storage complex around them, and the leveraged ETFs wrapped on top. Co-movement and magnitude reported below; the data does not say why.
The exact SQL behind every number
WITH per_name AS (
SELECT
ticker,
toFloat64(argMaxIf(close, window_start, window_start < '2026-07-07 00:00:00')) AS prior_close,
toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-07 00:00:00')) AS day_close,
maxIf(toFloat64(high), window_start >= '2026-07-07 00:00:00') AS day_high,
minIf(toFloat64(low), window_start >= '2026-07-07 00:00:00') AS day_low,
argMinIf(window_start, (toFloat64(low), toInt64(toUnixTimestamp(window_start))), window_start >= '2026-07-07 00:00:00') AS low_bar,
argMaxIf(window_start, (toFloat64(high), -toInt64(toUnixTimestamp(window_start))), window_start >= '2026-07-07 00:00:00') AS high_bar,
round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-07 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 >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00')
OR (window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 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,
formatDateTime(toTimeZone(high_bar, 'America/New_York'), '%H:%i') AS day_high_et,
formatDateTime(toTimeZone(low_bar, 'America/New_York'), '%H:%i') AS day_low_et,
toHour(toTimeZone(high_bar, 'America/New_York')) * 60 + toMinute(toTimeZone(high_bar, 'America/New_York')) AS high_minute_et,
toHour(toTimeZone(low_bar, 'America/New_York')) * 60 + toMinute(toTimeZone(low_bar, 'America/New_York')) AS low_minute_et,
round((day_high / day_low - 1) * 100, 2) AS range_pct,
day_dollar_bn
FROM per_name
ORDER BY tickerTeradyne (-9.63%) and Intel (-9.59%) lost nearly a tenth of their value, with Marvell (-7.41%), KLA (-7.23%), Lam Research (-6.8%) and AMD (-6.41%) close behind. The memory-and-storage names that half-bounced on Monday rolled straight back over: SanDisk -7.1% across a 10.36% high-to-low range, Western Digital -7.81%, Seagate -4.84%, and MU -4.61% — MU turning over $41.6 billion of stock, more than the other three storage names combined (the MU deep-dive carries the backstory).
The sector's two giants sat it out: NVDA closed green at 0.67% and Broadcom finished near flat at -0.83% — a sector-wide red day, minus its largest members (NVDA's June deep-dive).
The timing was synchronized — one morning air pocket: TER, LRCX and MU printed their session lows at 10:41, 10:41 and 10:41 ET, with SanDisk, Marvell, KLA, AVGO and SOXL inside the same minutes (the panel carries each stamp), and SOXS, the 3x inverse semiconductor ETF, printed its session high at 10:42 — the stretch upside down. Intel kept falling long after the rest stabilized, its low arriving at 15:18. The leveraged wrappers translate the magnitude: SOXL -15.15% against SOXS +15.87%.
The other side of the tape
A two-to-one red tape still has a green third. What rose while chips fell:
The exact SQL behind every number
WITH per_name AS (
SELECT
ticker,
toFloat64(argMaxIf(close, window_start, window_start < '2026-07-07 00:00:00')) AS prior_close_raw,
toFloat64(argMinIf(open, window_start, window_start >= '2026-07-07 00:00:00')) AS day_open_raw,
toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-07 00:00:00')) AS day_close_raw,
round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-07 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 >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00')
OR (window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 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 tickerEnergy and healthcare carried the green column: Exxon +3.78%, Chevron +3.47%, Johnson & Johnson +3.07%, Eli Lilly +2.75%, UnitedHealth +2.41%. The two megacaps on this panel split: META rose +2.52% while TSLA handed back most of Monday's one-way climb at -4.02%. And the loudest single print on the tape: Crinetics Pharmaceuticals (CRNX) closed +98.79% on $4.19 billion traded, nearly doubling — the entire move arrived as an overnight gap (98.91% at the open; the regular session moved it just -0.06%), the kind of between-sessions repricing that happens where the pre-market trades. The data does not say why.
Where the money traded
The exact SQL behind every number
SELECT leaderboard, ticker, dollar_volume_bn, shares_m,
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 >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 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 >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00'
AND ticker NOT IN ('SPCX')
GROUP BY ticker
ORDER BY shares_m DESC
LIMIT 4
)
ORDER BY leaderboard ASC, if(leaderboard = 'by dollars traded', dollar_volume_bn, shares_m) DESCMU led the dollar tape at $41.6 billion — one session after ceding the top spot, it took it back — with SPY ($28.68 billion) and QQQ ($26.54 billion) behind it, and three more chip names — NVDA ($19.95 billion), SNDK ($19.73 billion) and INTC ($13.82 billion) — filling the rest of the top six. Single-name turnover concentration is what relative volume flags.
On the share board, SOXS traded 566.3 million shares — the 3x inverse semiconductor ETF tops the count for the third straight session (Monday and Thursday carry the prior prints), this time on the day its sector actually broke. CPOP is the counter-lesson: 161.3 million shares moved just $0.02 billion — share counts flatter cheap stocks. Basis: July 7 regular hours; one reused-symbol listing is excluded pending entity verification — its receipts.
The shape of the session
The exact SQL behind every number
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 >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00'
GROUP BY et_time
ORDER BY et_time2 billion shares in the opening half hour, a 0.64 billion trough at 13:30, and 2.14 billion into the 15:30 close — the ordinary smile, heaviest at the close.
The options tape
The exact SQL behind every number
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) = '260707', 1, 0) AS is_0dte
FROM global_markets.options_trades
WHERE sip_timestamp >= '2026-07-07 00:00:00' AND sip_timestamp < '2026-07-08 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 >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00'
) AS spy_regular_close
SELECT
round(count() / 1e6, 2) AS option_prints_m,
round(toFloat64(sum(size)) / 1e6, 2) AS 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) = '260707') / sum(size), 1) AS same_day_expiry_pct,
round(toFloat64(sumIf(size, substring(ticker, length(ticker) - 14, 6) = '260707')) / 1e6, 2) AS same_day_contracts_m,
round(toFloat64(sumIf(size, underlying_symbol = 'SPY')) / 1e6, 2) AS spy_contracts_m,
round(toFloat64(sumIf(size, underlying_symbol = 'QQQ')) / 1e6, 2) AS qqq_contracts_m,
round(toFloat64(sumIf(size, underlying_symbol = 'INTC')) / 1e6, 2) AS intc_contracts_m,
top2.1[1] AS top_contract_underlying,
top2.2[1] AS top_contract_strike,
top2.3[1] AS top_contract_type,
if(top2.3[1] = 'C', 1, 0) AS top_contract_is_call,
top2.4[1] AS top_contract_volume,
top2.5[1] AS top_contract_avg_price,
round(top2.2[1] - spy_regular_close, 2) AS top_strike_minus_spy_close,
top2.1[2] AS second_contract_underlying,
top2.2[2] AS second_contract_strike,
top2.3[2] AS second_contract_type,
if(top2.3[2] = 'P', 1, 0) AS second_contract_is_put,
top2.4[2] AS second_contract_volume,
top2.5[2] AS second_contract_avg_price,
round(spy_regular_close - top2.2[2], 2) AS spy_close_minus_second_strike,
top2.6[1] + top2.6[2] AS both_top_contracts_same_day,
spy_regular_close AS spy_close
FROM global_markets.options_trades
WHERE sip_timestamp >= '2026-07-07 00:00:00' AND sip_timestamp < '2026-07-08 00:00:00'Options traded 61.13 million contracts across 10.6 million prints — a tape the size of Monday's — and calls still took 55.6% of the volume on a red day. Same-day expiries were 31.2% of the tape (19.08 million contracts) — the 0DTE share of an ordinary Tuesday. The day's two busiest contracts bracketed the close, both same-day SPY strikes: the $749 call (873438 contracts at an average $0.647) finished $1.34 out of the money, and the $747 put (785834 contracts at $0.88) finished $0.66 out the other side. SPY's 747.66 close landed between the day's two biggest bets, and both expired worthless.
The quote tape
Under every price on this page sits the quote stream — the National Best Bid and Offer, re-quoted continuously across every listed name, the hardest dataset in this warehouse to come by. It gets measured here every session, ordinary or not.
The exact SQL behind every number
SELECT
round(countIf(toDate(sip_timestamp) = toDate('2026-07-07')) / 1e6, 2) AS jul7_updates_m,
round(countIf(toDate(sip_timestamp) = toDate('2026-07-06')) / 1e6, 2) AS jul6_updates_m,
round((countIf(toDate(sip_timestamp) = toDate('2026-07-07')) / countIf(toDate(sip_timestamp) = toDate('2026-07-06')) - 1) * 100, 1) AS day_over_day_pct,
toHour(toTimeZone(maxIf(sip_timestamp, toDate(sip_timestamp) = toDate('2026-07-07')), 'America/New_York')) * 60
+ toMinute(toTimeZone(maxIf(sip_timestamp, toDate(sip_timestamp) = toDate('2026-07-07')), 'America/New_York')) AS jul7_last_quote_et_minute,
round(countIf(sip_timestamp >= '2026-07-07 19:00:00' AND sip_timestamp < '2026-07-07 20:00:00') / 1e6, 2) AS jul7_close_hour_updates_m
FROM global_markets.cache_stocks_quotes
WHERE sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-08 00:00:00'The equity tape carried 492.76 million NBBO updates on July 7 — 25.7% more than Monday's 391.96 million. More re-quoting, not wider quoting:
The exact SQL behind every number
SELECT
ticker,
round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00'), 2) AS pocket_spread_bps,
round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00'), 2) AS midday_spread_bps,
round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00')
- quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00'), 2) AS spread_delta_bps,
round(countIf(sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00') / 1e3, 1) AS pocket_updates_k,
round(countIf(sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00') / 1e3, 1) AS midday_updates_k,
round(countIf(sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00') / countIf(sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00'), 1) AS quote_rate_ratio,
round(count() / 1e6, 2) AS session_updates_m,
countIf(bid_price <= 0 OR ask_price <= 0 OR bid_price > ask_price) AS dropped_invalid_quotes
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('AMD', 'INTC', 'MU', 'NVDA', 'QQQ', 'SNDK', 'SOXL', 'SOXS', 'SPY', 'WDC')
AND sip_timestamp >= '2026-07-07 13:30:00' AND sip_timestamp < '2026-07-07 20:00:00'
GROUP BY ticker
ORDER BY tickerAt the morning lows the checked names re-quoted at multiples of their midday pace — MU 3.4x, SanDisk 4.1x, AMD 4.6x — and the bid-ask spread barely moved: MU's median width was 5.02 bps in the pocket against 4.81 midday, NVDA's 1.04 against 1.01, and SPY's did not move at all (0 bps change on a 0.27 bps touch). The two names that paid a real width penalty were AMD (+2.6 bps) and Intel (+0.95) — Intel the one name that kept falling after the pocket — while the leveraged pair actually tightened at the bottom (SOXL -2.59 bps, SOXS -1.49). A liquidity vacuum looks like wide quotes and silence; this was the opposite — a quote storm with the touch pinned. Crossing costs stayed name-dependent all the same: SOXS quoted 19.59 bps wide at the bottom against NVDA's 1.04.
The exact SQL behind every number
SELECT
round(anyIf(avg_spread_cents, d = toDate('2026-07-07')), 3) AS jul7_avg_spread_cents,
arrayCount(x -> x < anyIf(avg_spread_cents, d = toDate('2026-07-07')), groupArrayIf(avg_spread_cents, d != toDate('2026-07-07'))) + 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('2026-07-08 00:00:00')
AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
GROUP BY d
)And the ordinary-check this section runs every session: by update-weighted average quoted spread, July 7 was SPY's tightest session of the trailing month — 1.809 cents, rank 1 of 21, against a month that reached 2.865 cents at its widest. A two-to-one red tape priced at the month's tightest index touch is a fact only the quote stream can settle.
The exact SQL behind every number
WITH
(
SELECT count()
FROM global_markets.cache_options_quotes
WHERE sip_timestamp >= '2026-07-07 00:00:00' AND sip_timestamp < '2026-07-08 00:00:00'
) AS jul7_rows,
(
SELECT count()
FROM global_markets.cache_stocks_quotes
WHERE sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-07 00:00:00'
) AS jul6_stock_quote_rows,
(
SELECT (round(count() / 1e6, 2),
round(quantileExactIf(0.5)(toFloat64(ask_price - bid_price), bid_price > 0 AND ask_price >= bid_price AND substring(ticker, 6, 6) = '260706'), 3),
countIf(NOT (bid_price > 0 AND ask_price >= bid_price) AND substring(ticker, 6, 6) = '260706'))
FROM global_markets.cache_options_quotes
WHERE ticker >= 'O:SPY26' AND ticker < 'O:SPY27'
AND sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 20:00:00'
) AS spy_root
SELECT
jul7_rows AS jul7_option_quote_rows,
round(count() / 1e9, 2) AS jul6_option_quote_updates_bn,
round(count() / jul6_stock_quote_rows, 1) AS jul6_option_to_stock_ratio,
spy_root.1 AS jul6_spy_option_updates_m,
spy_root.2 AS jul6_spy_0dte_median_spread_dollars,
spy_root.3 AS jul6_spy_0dte_dropped_invalid_quotes
FROM global_markets.cache_options_quotes
WHERE sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-07 00:00:00'The options quote stream dwarfs even that — it is the largest dataset in the warehouse: 6.49 billion option NBBO updates on Monday July 6 alone, 16.6 times the size of Monday's entire stock-quote tape. 239.54 million of those sat on SPY's 2026-dated contracts during regular hours alone — where the median same-day contract quoted $0.03 wide. July 7's option quotes had not landed at authoring: the panel counts 0 rows for the session — this table carries the warehouse's longest ingest lag — and the zero-row bound is a tripwire that halts regeneration for an update once the data arrives.
Rates: the curve sold off with the growth tape
The exact SQL behind every number
SELECT
t.1 AS curve_point,
round(t.2, 2) AS jul7_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 = '2026-07-07') AS d,
(SELECT * FROM global_markets.treasury_yields WHERE date = '2026-07-06') AS p
)Treasuries sold off alongside the growth tape. The 1-year rose 11 basis points to 4.06%, the 10-year 7 to 4.55%, and the 30-year 6 to 5.05% — above the five-percent line. The 2s10s spread held at 0.36 percentage points (1 basis point of change): a mostly parallel move, not a reshaping.
The calendar behind the day
The exact SQL behind every number
WITH
(
SELECT (count(), uniqExact(publisher))
FROM global_markets.stocks_news
WHERE toDate(toTimeZone(published_utc, 'America/New_York')) = '2026-07-07'
) AS news,
(
SELECT (argMax(t, n), 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')) = '2026-07-07'
)
WHERE t != 'SPCX'
GROUP BY t
)
) AS top_news
SELECT
(SELECT count() FROM global_markets.stocks_dividends WHERE ex_dividend_date = '2026-07-07') AS ex_dividend_records,
(SELECT count() FROM global_markets.stocks_splits WHERE execution_date = '2026-07-07') AS splits_executed,
(SELECT countIf(toFloat64(split_from) > toFloat64(split_to)) FROM global_markets.stocks_splits WHERE execution_date = '2026-07-07') AS reverse_splits,
(SELECT countIf(toFloat64(split_to) > toFloat64(split_from)) FROM global_markets.stocks_splits WHERE execution_date = '2026-07-07') AS forward_splits,
(SELECT count() FROM global_markets.stocks_ipos WHERE listing_date = '2026-07-07') AS ipos_listed,
(SELECT uniqExact(accession_number) FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-07') AS sec_filings,
(SELECT uniqExactIf(accession_number, form_type = '4') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-07') AS insider_form4_filings,
(SELECT uniqExactIf(accession_number, form_type = '8-K') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-07') AS filings_8k,
news.1 AS news_articles,
news.2 AS news_publishers,
top_news.1 AS most_covered_ticker,
if(top_news.1 = 'NVDA', 1, 0) AS most_covered_is_nvda,
top_news.2 AS most_covered_articles,
top_news.3 AS most_covered_lead_over_next,
(SELECT countIf(has(tickers, 'CRNX')) FROM global_markets.stocks_news
WHERE toDate(toTimeZone(published_utc, 'America/New_York')) = '2026-07-07') AS crnx_articles79 dividend records went ex-dividend, 7 splits executed — 5 of them reverse splits, the sub-dollar consolidations that fake triple-digit "gains" on an unadjusted tape, against 2 forward — and 1 new listing arrived. The SEC index logged 2413 filings: 463 Form 4s, 173 8-Ks. Our news feed carried 215 articles from 3 publishers; the most-covered name was NVDA at 17 articles, 4 clear of the next name — the same NVDA that closed green through its sector's red day. The feed carried 0 articles on CRNX, the tape's loudest gainer — one feed's attention, not the world's media.
The session, verified
The exact SQL behind every number
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 >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00') AS regular_session_bars,
uniqExactIf(toDate(toTimeZone(window_start, 'America/New_York')), window_start >= '2026-07-07 13:30:00' AND window_start < '2026-07-07 20:00:00') AS day_sessions,
(SELECT count() FROM global_markets.stocks_market_holidays WHERE date = '2026-07-07') AS jul7_holiday_rows,
(SELECT toString(min(date)) FROM global_markets.stocks_market_holidays WHERE date > '2026-07-07' AND status = 'closed') AS next_closure_date,
(SELECT argMin(name, date) FROM global_markets.stocks_market_holidays WHERE date > '2026-07-07' AND status = 'closed') AS next_closure_name
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPY' AND window_start >= '2026-07-07 00:00:00' AND window_start < '2026-07-08 00:00:00'July 7 was a full session, not an early close: SPY's bars run 04:00 to 19:59 New York time with exactly 390 regular-window bars, and the holiday table carries 0 rows for the date. The next scheduled closure is Labor Day, 2026-09-07.
Data notes
- Dollar volume is a per-minute proxy — close × volume summed per minute bar, regular hours.
- The gap-versus-grind split is measured from each name's first regular-session bar (the open) against the prior session's last regular close; the remainder is open-to-close inside July 7.
- The synchronized morning lows were cross-checked against adjacent bars at authoring time — each is traced by its neighboring minutes, not a lone print; none warranted an anomaly receipt. Where an extreme printed in more than one minute, the panel shows the earliest such bar (a deterministic tie-break).
- One reused-symbol listing is excluded from the volume leaderboards and the news callout pending entity verification; its own post carries the receipts.
- Quoted-spread statistics exclude invalid quotes (one-sided or crossed NBBO records), and each spread panel counts what it drops in a column of its own. "Update-weighted average spread" averages the quoted width across every valid NBBO update — busy moments weigh more; it is a quoting statistic, not a per-trade cost.
- July 7's OPTION quotes had not landed at authoring —
cache_options_quotescarries the warehouse's longest ingest lag; the zero-row bound passes while the rows are absent and trips once they land, holding regeneration until this section is updated. The equity-quote tape IS present end to end: its last July 7 update prints at ET minute 1199, with 77.13 million updates in the final regular hour (receipt columns in the quote-tape panel). - The treasury print for July 7 ingested a session late — the first edition shipped a disclosed-lag receipt; its tripwire fired on July 8 when the print landed, and this revision carries the actual curve.
Methodology
- The period is a single trading session (1 session, verified from observed bars and the holiday calendar — never assumed). Timestamps are stored in UTC and converted to New York time inside the queries. "Close" means the last regular-session minute bar; day changes compare July 7 with July 6, consecutive trading sessions.
- Decimal columns are cast to 64-bit floats before ratio arithmetic; option expiries are re-parsed from the OCC ticker (the table's own expiry column is broken). All panels are read once, at authoring time, through the gated read-only path. Warehouse state as of July 8, 2026.
- The quote-tape section was added in the July 8 revision (the same revision that replaced the treasury lag receipt with the landed print). Generation is a batch job by design — the options-quote panel alone scans several billion NBBO records.
Every panel is a stored query result — chart, table, and SQL are one object. Paste any of them into the Strasmore terminal and make them your own. Previous session: July 6.