{"slug":"market-recap-2026-07-06","qid":"quote_snapshot","label":"The touch at the gap open: median quoted spread and quote rate, 9:30–9:42 ET vs a midday control (12 minutes each)","post_title":"Market Recap: July 6, 2026, The Day in Numbers","post_url":"/blog/market-recap-2026-07-06#q-quote_snapshot","columns":["ticker","open_spread_bps","midday_spread_bps","spread_delta_bps","open_updates_k","midday_updates_k","quote_rate_ratio","session_updates_m","dropped_invalid_quotes"],"rows":[{"ticker":"DIA","open_spread_bps":0.76,"midday_spread_bps":0.57,"spread_delta_bps":0.19,"open_updates_k":105.9,"midday_updates_k":19.6,"quote_rate_ratio":5.4,"session_updates_m":0.83,"dropped_invalid_quotes":7},{"ticker":"IWM","open_spread_bps":0.67,"midday_spread_bps":0.33,"spread_delta_bps":0.34,"open_updates_k":219.1,"midday_updates_k":98.4,"quote_rate_ratio":2.2,"session_updates_m":2.56,"dropped_invalid_quotes":62},{"ticker":"MSFT","open_spread_bps":3.88,"midday_spread_bps":1.56,"spread_delta_bps":2.32,"open_updates_k":25.2,"midday_updates_k":6.6,"quote_rate_ratio":3.8,"session_updates_m":0.32,"dropped_invalid_quotes":121},{"ticker":"MU","open_spread_bps":8.09,"midday_spread_bps":4.46,"spread_delta_bps":3.63,"open_updates_k":53.5,"midday_updates_k":15.2,"quote_rate_ratio":3.5,"session_updates_m":0.69,"dropped_invalid_quotes":317},{"ticker":"QQQ","open_spread_bps":0.83,"midday_spread_bps":0.42,"spread_delta_bps":0.42,"open_updates_k":357.9,"midday_updates_k":121.4,"quote_rate_ratio":2.9,"session_updates_m":3.96,"dropped_invalid_quotes":239},{"ticker":"SNDK","open_spread_bps":21.07,"midday_spread_bps":8.16,"spread_delta_bps":12.9,"open_updates_k":14.9,"midday_updates_k":4.6,"quote_rate_ratio":3.3,"session_updates_m":0.16,"dropped_invalid_quotes":38},{"ticker":"SPY","open_spread_bps":0.27,"midday_spread_bps":0.27,"spread_delta_bps":0,"open_updates_k":276.9,"midday_updates_k":92.8,"quote_rate_ratio":3,"session_updates_m":3.35,"dropped_invalid_quotes":883},{"ticker":"STX","open_spread_bps":30.94,"midday_spread_bps":25.62,"spread_delta_bps":5.32,"open_updates_k":2.9,"midday_updates_k":0.8,"quote_rate_ratio":3.4,"session_updates_m":0.04,"dropped_invalid_quotes":11},{"ticker":"TSLA","open_spread_bps":4.57,"midday_spread_bps":1.68,"spread_delta_bps":2.89,"open_updates_k":40.6,"midday_updates_k":17.7,"quote_rate_ratio":2.3,"session_updates_m":0.6,"dropped_invalid_quotes":553},{"ticker":"WDC","open_spread_bps":14.67,"midday_spread_bps":9.28,"spread_delta_bps":5.39,"open_updates_k":9.5,"midday_updates_k":2.1,"quote_rate_ratio":4.5,"session_updates_m":0.1,"dropped_invalid_quotes":40}],"shape":"table","sql":"SELECT\n    ticker,\n    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 >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00'), 2) AS open_spread_bps,\n    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 >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00'), 2) AS midday_spread_bps,\n    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 >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00')\n        - 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 >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00'), 2) AS spread_delta_bps,\n    round(countIf(sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00') / 1e3, 1) AS open_updates_k,\n    round(countIf(sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00') / 1e3, 1) AS midday_updates_k,\n    round(countIf(sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00') / countIf(sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00'), 1) AS quote_rate_ratio,\n    round(count() / 1e6, 2) AS session_updates_m,\n    countIf(bid_price <= 0 OR ask_price <= 0 OR bid_price > ask_price) AS dropped_invalid_quotes\nFROM global_markets.cache_stocks_quotes\nWHERE ticker IN ('DIA', 'IWM', 'MSFT', 'MU', 'QQQ', 'SNDK', 'SPY', 'STX', 'TSLA', 'WDC')\n  AND sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 20:00:00'\nGROUP BY ticker\nORDER BY ticker","computed_at":"2026-07-26T05:49:53.823228+00:00","elapsed":3.617711222}