Wednesday, September 2, 2026

Market Regime: RISK_OFF QNTM's regime overlay reads RISK_OFF — a defensive backdrop where the model favors quality and low-volatility factors over pure momentum chasing.

Conviction: 48.8/100 A near-midpoint reading with only 3.4% of the 1,422-name universe hitting high-conviction status signals broad-based caution rather than a clear buy or sell signal across the tape.

On the calendar today

September 2: ADP August nonfarm employment, July factory orders, Federal Reserve Beige Book, and expected earnings from Broadcom (AVGO), Snowflake (SNOW), Hewlett-Packard (HPE), NetApp (NTAP), and Five Below (FIVE).

Overnight & premarket

Stock futures were falling as renewed hostilities between the U.S. and Iran boosted oil prices and sent bond yields higher. The benchmark U.S. 10-year Treasury note yield hit a high of 4.814% on the day, its highest level since November 2023. Gold futures fell 0.94% to $4,355 an ounce in early trading. Tuesday's session saw the S&P 500 and the Dow fall up to 0.7%, while the Nasdaq 100 fell nearly 2%.

What to watch 1) Iran conflict headlines — oil prices are climbing due to renewed military clashes between the U.S. and Iran, raising concerns about crude shipments through the Strait of Hormuz.

2) The Beige Book and Fed commentary for hawkish signals amid rising yields. 3) Canada's retaliatory tariffs, confirmed at 15%, 25%, or 50% on more than 700 US-origin products, scheduled to take effect September 8, 2026 , keep trade-war risk in focus alongside after-hours tech earnings.

Research/education only — not investment advice.