Jobless Claims at 197K, SPYUSDT Down 1.09%: 21 of 26 Weeks Were Stronger
US initial jobless claims fell to 197K. SPYUSDT lost 1.09% this week, QQQUSDT 0.69%, IWMUSDT 1.22% and TQQQUSDT 1.98%.
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US initial jobless claims fell to 197K, a reading that keeps labor-market resilience in focus and supports the view that the Fed stays on hold. For equity-contract traders, rate-sensitive assets did not get relief: SPYUSDT fell 1.09% this week, QQQUSDT 0.69%, IWMUSDT 1.22% and TQQQUSDT 1.98%. This piece looks at one angle only: how the four Binance USDT-margined equity perpetual contracts verified through the official exchangeInfo endpoint traded this week.
The daily shape of the four symbols
All four symbols moved through the 2026-09-28 to 2026-10-01 stretch in broadly the same direction, with different amplitudes.
| Date | SPYUSDT | QQQUSDT | IWMUSDT | TQQQUSDT |
|---|---|---|---|---|
| 2026-09-24 | -0.18% | -0.17% | -0.29% | -0.7% |
| 2026-09-25 | 0.79% | 0.81% | 0.36% | 2.32% |
| 2026-09-26 | -0.23% | -0.26% | -0.09% | -0.71% |
| 2026-09-27 | -0.11% | -0.01% | -0.36% | -0.19% |
| 2026-09-28 | -0.45% | -0.86% | -0.32% | -2.41% |
| 2026-09-29 | 0.01% | 0.46% | -0.04% | 1.23% |
| 2026-09-30 | -0.04% | 0.35% | -0.4% | 1.05% |
| 2026-10-01 | -0.61% | -0.62% | -0.47% | -1.79% |
Three days matter. On 2026-09-28, SPYUSDT opened at 769.98 USDT and closed at 766.5 USDT, down 0.45%; QQQUSDT opened at 744.05 USDT and closed at 737.62 USDT, down 0.86%; IWMUSDT opened at 281.06 USDT and closed at 280.16 USDT, down 0.32%; TQQQUSDT opened at 79.14 USDT and closed at 77.23 USDT, down 2.41%. On 2026-09-29 and 2026-09-30 the group split: SPYUSDT moved 0.01% and -0.04%, QQQUSDT gained 0.46% and 0.35%, TQQQUSDT gained 1.23% and 1.05%, while IWMUSDT slipped 0.04% and 0.4%. On 2026-10-01 all four fell again, with SPYUSDT down 0.61%, QQQUSDT down 0.62%, IWMUSDT down 0.47% and TQQQUSDT down 1.79%, erasing the mid-week bounce.
Where this week ranks
SPYUSDT has 26 weekly samples and 21 weeks were stronger than this one; QQQUSDT has 26 samples with 20 stronger; IWMUSDT has 17 samples with 10 stronger; TQQQUSDT has 14 samples with 9 stronger. None of the four ranks in the stronger half of its own history.
| Symbol | This week | Weekly samples | Stronger weeks |
|---|---|---|---|
| SPYUSDT | -1.09% | 26 | 21 |
| QQQUSDT | -0.69% | 26 | 20 |
| IWMUSDT | -1.22% | 17 | 10 |
| TQQQUSDT | -1.98% | 14 | 9 |
Among the stronger weeks, SPYUSDT gained 3.17% in the week of 2026-04-06, 4.45% in 2026-04-13, 2.15% in 2026-05-04 and 2.74% in 2026-08-03. QQQUSDT gained 6.06% in 2026-04-13, 5.32% in 2026-05-04, 4.06% in 2026-08-03 and 2.73% in 2026-09-21. IWMUSDT gained 4.78% in 2026-06-08 and 3.65% in 2026-08-03. TQQQUSDT gained 12.35% in 2026-08-03, 8.22% in 2026-09-21 and 6.09% in 2026-09-14. The raw values speak for themselves.
What the Square posts say
Square posts argue that claims at 197K show no obvious loosening in the labor market, giving the Fed more reason to stay on hold, which pressures rate-sensitive equities and bonds (relayed, not this site's view). Other posts focus on index contracts, saying SPYUSDT and QQQUSDT react more directly to rate expectations because their heavyweights are more sensitive to discount rates. Some posts note that leveraged contracts like TQQQUSDT swing wider when direction is clear, with this week's 1.98% drop steeper than QQQUSDT's 0.69% (relayed, not this site's view). These are discussions, not verified conclusions.
Three honest points
First, the claims number is a fact, but how the market digests it is another matter. All four symbols fell together this week, suggesting money read the firm labor data as a reason for rates to stay high rather than as a sign of economic strength. How long that reading lasts, nobody knows in advance. Second, leverage cuts both ways. TQQQUSDT's 1.98% drop looks comfortable for shorts, but the same amplification would hit holders if direction reversed. Third, gaps and funding costs are easy to overlook in equity contracts: US market closures break price continuity, and funding fees quietly erode balances during sideways moves. The best week is always a conclusion in hindsight.
Fees
The default maker fee on Binance contracts is 0.02% and the default taker fee is 0.05%. The rebate ratio is 20%, bringing the post-rebate maker fee to 0.016% and the post-rebate taker fee to 0.04%. That is the whole section; traders can work out their own mix.
Source: https://fapi.binance.com/fapi/v1/exchangeInfo
Data as of 2026-10-02; source: Binance official API. Not investment advice.
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Binance is not available in your region. What follows is not a centralized exchange โ it is a different kind of product that you can use:
๐ Binance Web3
A self-custody wallet inside the Binance app; swaps route through on-chain DEX aggregation, not an exchange account
Bind via our link and wallet swap fees drop 30%. On-chain gas and slippage are not covered by the discount.
You must already be a verified Binance user to create a Binance Wallet (official FAQ Q13); wallet referrals and exchange referrals are two separate systems. Zero-fee pairs such as stablecoin swaps generate no rebatable fee.