On July 30, Invesco QQQ rose 3.05% in regular trading, trading at $681.815/share, with turnover of $11.891 billion. The rally was driven by Microsoft's fourth fiscal quarter earnings significantly beating expectations, with its cloud business delivering strong results that propelled the stock up approximately 12% intraday.

As a core constituent of the Nasdaq 100 Index, Microsoft's surge provided a significant uplift to the broader index. The Nasdaq 100 had previously declined for five consecutive trading sessions amid market concerns over excessive AI capital expenditure by tech giants. Microsoft's cloud revenue growth of 43% year-over-year far exceeded analyst estimates, effectively alleviating investor doubts about AI investment returns and triggering a broad-based rebound across the technology sector. Pre-market indicators had already signaled strength, with all three major index futures turning higher ahead of the open.

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Invesco QQQ is designed to maintain correspondence between the composition and weights of securities in the trust and the stocks in the NASDAQ-100 Index, with the adviser adjusting securities periodically to conform to changes in the identity and relative weights of index components.